A new Fed Chair Kevin Warsh was voted in yesterday. Jerome Powell was the previous one and he and Trump often bumped heads. One of the main things the Fed does is control interest rates. Trump has wanted interest rates cut for a very long time and Powell refused to just do what the President wanted, but instead do what he felt the economy needed based on numbers and facts. The idea is that when interest rates are lowered people will spend more rather than save and interest rates on mortgages and other things are lowered. Many see Warsh as a Trump loyalist. Do you think we would see the Fed cut interest rates because of it?

Happy New Year! As a federal employee, I did not understand the tax situations, including how pension, Social Security, and TSP withdrawals would impact my overall tax obligation. I have been quite occupied with understanding the tax implications that could affect my retirement investment portfolio if I do not implement withdrawal strategies correctly during retirement. I have successfully built a nice retirement nest egg through my pre-tax traditional TSP account while working in the Federal Government. At present, I am exploring ways to manage my tax responsibilities without incurring losses. I have sought advice from several financial advisors and planners to help me understand the withdrawal strategies required due to Retirement Minimum Distribution (RMDs), social security, and Medicare. I have decided to hire a company that provides a fee-only service (one-time fee) to create a plan detailing the withdrawal strategies concerning the timing and amounts. Once, I get the information, I will move the money to a Roth IRA so that my money can grow tax-free. I am still watching the Wealth Twins' videos and reading what's being posted on the Smart Start Investing platform which is helping me to keep my sanity.

How's everyone doing? Anyone got any wins that they would like to share??

All memberships canceled now, another credit card paid off in full, and automated IRA accounts that I had forgot all about.

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