enRICHed: volume 119

march madness

Mar 02, 2025

Volume 119

Hey besties!

A not so friendly reminder that your taxes are due soon! That’s right, April 15 is only a few weeks away. If you are struggling with which tax software to use, or have no idea what any of the numbers taken out of your check, or what all the acronyms mean, check out this week’s episode of the podcast all about taxes! I cover all the basics to hopefully demystify some of the tax code for you to help you make sure you are filing correctly. Remember to file your taxes or request an extension by April 15! New episodes of the podcast drop every single Wednesday so be sure to subscribe to my YouTube channel HERE or follow Networth and Chill wherever you get your podcasts!

Plus, keep up with the podcast on Instagram and TikTok!

As a reminder:

HYCU, pronounced haiku: how the news impacts you and your wallet, aka How You Can Use
The Prosperitea: think discount codes, non-boring finance articles, sales, and personal links from the week. The fun stuff 😉
We love your comments, but please remember to keep it positive! And don’t take investing advice from anyone who isn’t your registered financial advisor!

Now that you’re up to speed, let’s get you enRICHed.

Veterans Getting Cut 🇺🇸

In case you missed it, the Trump administration (particularly, Elon Musk’s DOGE) is making some big budget cuts in the federal government, and one group is feeling the brunt of it: veterans.
You’ve probably seen the news that DOGE has been firing people left and right in the name of “cutting waste,” but since then, some lawmakers that were previously all for it are now kind of panicking, because it turns out that they’re disproportionately firing people who, you know…served this country.
For context, vets made up 28% of the federal workforce last year, compared to just 5% of the private sector (especially since federal hiring policies give them preference to government civilian jobs). Not to mention, 36% of vets working in civil service (more than 200,000) are disabled or have a serious health condition, according to Axios, which means that the firings are putting a lot of people with major health concerns out of insurance.
HYCU; It makes sense why so many veterans work for the federal government—it’s way easier to get a job with the hiring preference towards them (though it’s not clear how Trump’s anti-DEI measures will affect this), and there’s still a mission-based aspect of the job. That being said, many veterans are out of a job or are worried about losing theirs. If you are a veteran in this position, it’s not over yet! Representative Tony Tran introduced a bill on Wednesday trying to reinstate fired vets, so you may be able to return to work.

The $1 Billion Egg Plan 🍳🥚

The US will invest up to $1 billion to combat the spread of bird flu, including increasing imports of eggs, Agriculture Secretary Brooke Rollins announced Wednesday.
According to Rollins, some of the money will come from the Department of Agriculture’s budget cuts that DOGE enacted (so, the money would be going back to them), and would be used to provide financial aid for poultry farmers as well as funding for new research for treatment and vaccines.
The other thing they plan to do is increase imports and decrease exports of eggs to boost domestic supply and combat record high egg prices—Turkey has said it will export 420 million eggs to the US through July.
Apparently, the poultry industry is conflicted on whether to vaccinate chickens because of potential trade implications (in other terms, it might not comply with international food standards if they juice the chickens up with antibiotics, so farmers would lose money).
HYCU; Is this wild? Well, the Biden administration spent about $1.5 billion to combat the spread of bird flu after it resurged in 2022, so in the words of Taylor Swift, I think I’ve seen this film before. Will it work? Reviews are kind of mixed. Some people think that importing could be a good temporary solution, some people think that with the continued spread of the virus plus international tariffs being enacted, it won’t do much for our prices. That being said, what we do know is that prices will not drop anytime in the immediate future—the USDA itself projected that egg prices will surge another 41% this year, so we’ll have to keep being intentional about our eggs for the rest of 2025. If these prices don’t drop, someone’s about to have egg all over their face.

Med in the USA 🩺💊

This week, the CEO of Eli Lilly announced a $27 billion plan with the government to build four manufacturing "mega-sites" in the US, after the Trump administration threatened them with tariffs on pharmaceuticals.
Basically, Eli Lilly is hugely based in China right now, announcing a $200 million expansion of a manufacturing site in Suzhou as well as partnering with Chinese research firms for their products, which goes against Trump’s hardline stance on China, where all of this drama is stemming from.
So now, they’re announcing a bigger domestic move, with a $3 billion upgrade to the current injectables facility in Wisconsin, as well as the building of two new sites in North Carolina and Indiana (the company didn’t share how much of Lilly's manufacturing will occur at these sites, but said the new facilities won't replace others elsewhere).
HYCU; According to the company, this plan is estimated to create about 3,000 jobs, as well as 10,000 construction jobs, which could be huge news for people in these states who are still looking for work. It’ll also ideally bring a big boost to the local economy, which always improves the quality of life of those living in the region.

RzKW asks, “Hi Vivian and all, wondering if you can offer any insights or tips on investing in index funds as well as retirement accounts (especially for beginners in financial literacy) given changes under the new administration over the next 4 years. Thank you!”

Hi there! It’s important to remember that while certain policies can definitely change and impact you, administration to administration, ultimately, no government is going to fully provide for you and your retirement. With that being said, let’s get into it!

Index Funds:

Picture index funds like a playlist of top hits. 🎶 Instead of picking individual songs (or stocks), you get a mix of the market’s greatest hits. They track a specific market index, like the S&P 500, offering broad market exposure and diversification.
Many people appreciate index funds for their low fees and simplicity. They don’t require you to be a stock-picking genius, making them a popular choice for beginners.

Retirement Accounts:

Think of retirement accounts like a treasure chest with tax advantages. 🏴‍☠️ Popular options include 401(k)s and Roth IRAs.
A 401(k) is often offered through your employer and allows pre-tax contributions, which can lower your taxable income now.
A Roth IRA is like the opposite – you contribute after-tax dollars, but your money grows tax-free, and withdrawals in retirement are tax-free too.

One thing I want to clarify is that it’s not an OR. It’s an AND. The retirement accounts are just the chest your investments go in. It’s not enough to just put cash into your chest, you then need to go out and BUY investments, which hopefully include Index Funds.

Ultimately, I’m not changing my investment strategy due to this administration or any administrations in the future for that matter. I will continue to buy and hold index funds, until I’m ready to retire, and for most people, that will always make the most sense.

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