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Preparing your investments and family for when disaster strikes.

Your Retirement Life: Choosing Where to Retire: Part IV

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By Kent Weakley @ Shutterstock.com

Yesterday, Rhode Island Gov. Gina Raimondo extended legislation for continuing contracts for union employees, and transmitted legislation mandating overtime for firefighters. Who doesn’t like teachers and firefighters, right? But that’s not the point.

Because of her actions, cities and towns in Rhode Island will have no leverage at the bargaining table since contract renewals are now guaranteed. Also guaranteed is overtime for firefighters, even though most towns already pay overtime voluntarily.

Raimondo’s automatic contract extension hurts cities and towns because it’s the local administrators who do the bargaining with unions. Now that’s out the window. Coupled with the mandates on firefighter overtime, this is just more big government sticking its fingers in the local pie.

You don’t live in Rhode Island? You don’t care? Well, it may have national implications. Gov. Raimondo is a rising star in the Democratic Party. She received national attention for taking on the unions with pension reform. But, clearly, she’s pivoted hard left and is back feeding from the union trough.

If Raimondo makes it to the national stage, you can be sure she’d have no problem giving big government more power over the republic. Yesterday’s action is confirmation of that.

Stay tuned by making sure you know your local politics, and who the players are today and tomorrow.

Read the entire series here.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com