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Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

⏱️ the government is shut down

Published 2 days ago • 1 min read

Good morning Reader,

The government shut down today, the first time since 2018 through 2019 when it was closed for 35 days, and there's no sense of how long it will be this time.

This time is a little different though for two big reasons:

  • There's no fear of the government hitting the debt limit, so payments will still get sent out
  • President Trump has threatened mass firings rather than furloughs

I assume someone is already working on a remake of "Takedown" from KPop Demon Hunters. 🎶

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​(View this email as a webpage)​

🕰️ What a government shutdown impacts

As I mentioned at the top, this shutdown is different than the last one and since I'm not an expert, I did some research.

I'm still not an expert, but here's a good explainer from TIPS Watch, that is written by David Enna, a long time journalist and someone whose thinking I have followed for some time.

​👉 U.S. goverment shutdown: what does it mean?​

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💵 More states stop taxing retirement income

9 states don't tax income at all
13 states don't tax defined contribution plans
15 states don't tax pensions
35 states don't tax military pensions
41 states don't tax social security

Every year, more states exempt retirement income.

While I wouldn't let the tax tail wag the retirement decision dog, it's an important consideration if you're on fixed income!

​👉 See the states that don't tax retirement income​

(if you like the article, make sure you follow us on MSN!)

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What did you think of today's email?​
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Talk to you soon!

Jim

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PS. Amazon is now offering a small bribe of $5 if you try "in garage delivery" if you have a smart garage - assuming you could, would you be comfortable with this?

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Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

💵 Founder of WalletHacks.com

I have been writing about money for nearly 20 years and believe that personal finance is one of those subjects that is made complicated because it benefits a select few. Our aim is to help make it easier to understand so that regular folks can use what we teach to take control of their money and build wealth.

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