Retirement Planning Strategies - May 2021

Same as the Old Boss?

HOW WILL A NEW ADMINISTRATION AFFECT FEDERAL EMPLOYMENT AND RETIREMENT?

By now, the Biden administration has settled comfortably into the groove of day-to-day governance, and we all have a better picture of what the new people in the White House have planned for the next 4–8 years. That makes it the perfect time to talk about change and how it’s going to affect people working as federal employees in the long run.

affect you: It would affect your coworkers after you leave. You’ve seen how this works: Budgets get cut, and when someone retires or moves on to another job, their position is not filled. Instead, their work is distributed to the federal employees who remain.

The bottom line? It probably isn’t.

That’s not to say there won’t be some big shifts — many federal employees may face the usual “stop working on this, start working on that” shake-ups that come with having new people in charge. In this case, one example that comes to mind is taxes. Biden’s team seems focused on changing the tax structure so that larger businesses and wealthier Americans face a decidedly less-friendly system going forward. But that’s not likely to change your career or retirement picture, unless you’ve got a lot more stashed away than we know about! Kidding aside, I do understand the concern. Even for people who have seen this before, the tone of modern politics is different than it used to be. Nobody can be blamed for wondering if maybe their job will be cut. But is that likely to happen? Even if it did, it wouldn’t

Is that a problem? Absolutely. Careers in the federal service used to be highly desirable, with fantastic benefits. But the private sector has caught up — and with budget cuts, federal employees find themselves overworked because positions remain vacant. But it only affects you in the sense that you might find yourself wanting to leave early or have options in case your own workload increases beyond a tipping point. Otherwise, no matter who is in the White House, I get up at the same time and go to the same job that I used to — and I suspect you do as well. So, don’t worry too much — we’re looking out for you so you can retire in low-tax comfort.

BRAIN! Train Your

Easy & Healthy Green Rice

Inspired by 101Cookbooks.com

INGREDIENTS

• 1 cup tightly packed spinach leaves • 1 cup tightly packed kale leaves, stems removed

• 1/2 cup yellow onions, finely diced • 1/2 cup green peppers, diced • 1 tbsp extra-virgin olive oil • 3 cloves garlic, peeled and minced • 1 cup long-grain white rice

• 1 1/2 cups vegetable stock • 2 tbsp full-fat coconut milk • 1 tsp kosher salt

DIRECTIONS

1. In a blender, purée spinach and kale with vegetable stock, coconut milk, and salt. Set aside. 2. In a medium saucepan over medium heat, sauté onions and peppers in olive oil until soft. Add the garlic and cook until fragrant, about 2 minutes. 3. Stir in rice and cook and toast for 1–2 minutes before adding the blended mixture. Increase heat to bring to a boil.

4. Reduce heat to low, cover, and simmer until liquid has evaporated, 15–20 minutes. 5. Remove from heat and let sit for 10 minutes. Fluff with a fork before serving.

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