How are you going to use your stimulus money?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
User avatar
Sheepdog
Posts: 5556
Joined: Tue Feb 27, 2007 3:05 pm
Location: Indiana, retired 1998 at age 65

Re: How are you going to use your stimulus money?

Post by Sheepdog » Fri Mar 27, 2020 5:15 pm

Ours will be donated to food pantries serving children definitely.
“One moment of patience may ward off great disaster. One moment of impatience may ruin a whole life.” — Chinese Proverb

jeam3131
Posts: 107
Joined: Sun Aug 26, 2018 2:48 pm

Re: How are you going to use your stimulus money?

Post by jeam3131 » Fri Mar 27, 2020 5:16 pm

Dottie57 wrote:
Fri Mar 27, 2020 4:51 pm
If I get money, I plan to give it away. There are people in true need so all I need to do is figure out where it will doo the most good.
Thats really nice of you. I know plenty of people who will be receiving these checks who didn't lose their jobs or who had no job/desire to work in the first place.

User avatar
Go Blue 99
Posts: 928
Joined: Thu Oct 09, 2008 3:42 pm

Re: How are you going to use your stimulus money?

Post by Go Blue 99 » Fri Mar 27, 2020 5:16 pm

I realize being over the $199k married couple AGI limit means you don't get the $2,400. But is the $500 per child also subject to that same AGI rule?
Last edited by Go Blue 99 on Fri Mar 27, 2020 5:58 pm, edited 1 time in total.

Jags4186
Posts: 4855
Joined: Wed Jun 18, 2014 7:12 pm

Re: How are you going to use your stimulus money?

Post by Jags4186 » Fri Mar 27, 2020 5:17 pm

jjface wrote:
Fri Mar 27, 2020 5:12 pm
It is also annoying to see people complain that they won't get it because they made $100k ind/$200k family in 2019 (even though they made only up to $75k/$150k in 2018)

You don't need it be glad of that.

I have no plans to increase spending on anything in particular. Will keep tipping grocery deliveries well etc.
I would agree with you if by me getting the $2400 meant it was taking that money out of someone else’s pocket. But it’s not. It’s just money that will disappear into the ether. I would have spent that $2400 and a business would have benefited. I am not going to increase my spending by $2400 without getting that money.

jeam3131
Posts: 107
Joined: Sun Aug 26, 2018 2:48 pm

Re: How are you going to use your stimulus money?

Post by jeam3131 » Fri Mar 27, 2020 5:18 pm

jjface wrote:
Fri Mar 27, 2020 5:12 pm
It is also annoying to see people complain that they won't get it because they made $100k ind/$200k family in 2019 (even though they made only up to $75k/$150k in 2018)

You don't need it be glad of that.

I have no plans to increase spending on anything in particular. Will keep tipping grocery deliveries well etc.
It's not so black and white. I would have received the full amount based on 2018 taxes, but nothing based on 2019 taxes and I filed early. I just graduated and still have a massive amount of loans to pay off (that are private, no forgiveness). And I just lost my job so have no pay check.

But hey, my friend who works only 2-3 months out of the year by his own choice and lives with his parents gets a nice bonus
Last edited by jeam3131 on Fri Mar 27, 2020 5:24 pm, edited 1 time in total.

RomeoMustDie
Posts: 155
Joined: Sat Mar 14, 2020 6:07 pm

Re: How are you going to use your stimulus money?

Post by RomeoMustDie » Fri Mar 27, 2020 5:20 pm

Going directly into the markets 8-)

Atilla
Posts: 1447
Joined: Tue Feb 09, 2010 7:44 pm

Re: How are you going to use your stimulus money?

Post by Atilla » Fri Mar 27, 2020 5:24 pm

Not getting any. So to y'all who are I say "you're welcome". :annoyed

User avatar
beyou
Posts: 3081
Joined: Sat Feb 27, 2010 3:57 pm
Location: Northeastern US

Re: How are you going to use your stimulus money?

Post by beyou » Fri Mar 27, 2020 5:26 pm

whodidntante wrote:
Fri Mar 27, 2020 4:30 pm
nascar090210 wrote:
Fri Mar 27, 2020 4:25 pm
Not expecting to receive anything.
A lot of Bogleheads won't.
Some Bogleheads should and wont.
My son is now out of college and working at his first job, definitely should be in the group to get stimulus, but he was a dependent last year,
so THIS year no stimulus. Oh well, hopefully his company has no layoffs in this mess. I too am worried about layoffs but due to last year, no stimulus.

snowman
Posts: 1140
Joined: Thu Jan 31, 2013 12:59 pm

Re: How are you going to use your stimulus money?

Post by snowman » Fri Mar 27, 2020 5:28 pm

jeam3131 wrote:
Fri Mar 27, 2020 5:18 pm
jjface wrote:
Fri Mar 27, 2020 5:12 pm
It is also annoying to see people complain that they won't get it because they made $100k ind/$200k family in 2019 (even though they made only up to $75k/$150k in 2018)

You don't need it be glad of that.

I have no plans to increase spending on anything in particular. Will keep tipping grocery deliveries well etc.
It's not so black and white. I would have received the full amount based on 2018 taxes, but nothing based on 2019 taxes and I filed early. I just graduated and still have a massive amount of loans to pay off (that are private, no forgiveness). And I just lost my job so have no pay check.
If you have no paycheck now, presumably your 2020 income is going to be low enough to qualify you for the credit. Since this is treated as 2020 advanced tax credit, you will receive it next year when filing your 2020 taxes. 2018 and 2019 tax returns are just qualifiers to send out checks quickly.

Poorman
Posts: 119
Joined: Sat Jan 11, 2020 9:57 am

Re: How are you going to use your stimulus money?

Post by Poorman » Fri Mar 27, 2020 5:30 pm

If I get money. It will be sunk into VTSAX or maybe fun money and do Delta stock or something.

jb1
Posts: 446
Joined: Sun Nov 27, 2016 8:33 am
Location: NC

Re: How are you going to use your stimulus money?

Post by jb1 » Fri Mar 27, 2020 5:30 pm

$600 in VTSAX
$600 in Visa

jeam3131
Posts: 107
Joined: Sun Aug 26, 2018 2:48 pm

Re: How are you going to use your stimulus money?

Post by jeam3131 » Fri Mar 27, 2020 5:31 pm

snowman wrote:
Fri Mar 27, 2020 5:28 pm
jeam3131 wrote:
Fri Mar 27, 2020 5:18 pm
jjface wrote:
Fri Mar 27, 2020 5:12 pm
It is also annoying to see people complain that they won't get it because they made $100k ind/$200k family in 2019 (even though they made only up to $75k/$150k in 2018)

You don't need it be glad of that.

I have no plans to increase spending on anything in particular. Will keep tipping grocery deliveries well etc.
It's not so black and white. I would have received the full amount based on 2018 taxes, but nothing based on 2019 taxes and I filed early. I just graduated and still have a massive amount of loans to pay off (that are private, no forgiveness). And I just lost my job so have no pay check.
If you have no paycheck now, presumably your 2020 income is going to be low enough to qualify you for the credit. Since this is treated as 2020 advanced tax credit, you will receive it next year when filing your 2020 taxes. 2018 and 2019 tax returns are just qualifiers to send out checks quickly.
In theory yes, but I imagine when work resumes I'll get back above the threshold (probably barely), but nowhere near where I would have been had I not been laid off. I was planning in hitting my loans hard this year but this will likely extend the period significantly.

bac
Posts: 79
Joined: Sun Apr 01, 2018 6:19 pm

Re: How are you going to use your stimulus money?

Post by bac » Fri Mar 27, 2020 5:31 pm

It'll go to an organization helping those affected by the coronavirus crisis or directly to out-of-work family members.

il0kin
Posts: 316
Joined: Mon Feb 26, 2018 8:19 pm

Re: How are you going to use your stimulus money?

Post by il0kin » Fri Mar 27, 2020 5:33 pm

Need to discuss with my wife, but:
$500 to charities which will benefit those most vulnerable
$500 to locally owned small businesses
$2400 towards our bathroom remodel, whenever it starts (delayed due to virus)

I sure am glad it’s based on AGI. Tax efficiency for the win!

snowman
Posts: 1140
Joined: Thu Jan 31, 2013 12:59 pm

Re: How are you going to use your stimulus money?

Post by snowman » Fri Mar 27, 2020 5:34 pm

beyou wrote:
Fri Mar 27, 2020 5:26 pm
whodidntante wrote:
Fri Mar 27, 2020 4:30 pm
nascar090210 wrote:
Fri Mar 27, 2020 4:25 pm
Not expecting to receive anything.
A lot of Bogleheads won't.
Some Bogleheads should and wont.
My son is now out of college and working at his first job, definitely should be in the group to get stimulus, but he was a dependent last year,
so THIS year no stimulus. Oh well, hopefully his company has no layoffs in this mess. I too am worried about layoffs but due to last year, no stimulus.
He is going to get it when he files 2020 tax return.

My son graduated last year, so his 2018 return was as dependent. I just filed his 2019 taxes today with direct deposit for the refund, so that he gets his check electronically next month, vs. waiting till next year.

dabears17
Posts: 3
Joined: Mon May 13, 2019 11:21 pm

Re: How are you going to use your stimulus money?

Post by dabears17 » Fri Mar 27, 2020 5:36 pm

Under my 2018 taxes I wouldn't have gotten anything, but under 2019 taxes I'll get something for my dependent and a small additional amount.

Money is fungible. Planning on making a Roth contribution and putting $10k of emergency fund into I-Bonds. Will contribute amount from my dependent to a food bank.

Poorman
Posts: 119
Joined: Sat Jan 11, 2020 9:57 am

Re: How are you going to use your stimulus money?

Post by Poorman » Fri Mar 27, 2020 5:36 pm

jjface wrote:
Fri Mar 27, 2020 5:12 pm
It is also annoying to see people complain that they won't get it because they made $100k ind/$200k family in 2019 (even though they made only up to $75k/$150k in 2018)

You don't need it be glad of that.

I have no plans to increase spending on anything in particular. Will keep tipping grocery deliveries well etc.
How do you know that? Maybe I have a small business and am completely leveraged out in loans.

jeam3131
Posts: 107
Joined: Sun Aug 26, 2018 2:48 pm

Re: How are you going to use your stimulus money?

Post by jeam3131 » Fri Mar 27, 2020 5:43 pm

Poorman wrote:
Fri Mar 27, 2020 5:36 pm
jjface wrote:
Fri Mar 27, 2020 5:12 pm
It is also annoying to see people complain that they won't get it because they made $100k ind/$200k family in 2019 (even though they made only up to $75k/$150k in 2018)

You don't need it be glad of that.

I have no plans to increase spending on anything in particular. Will keep tipping grocery deliveries well etc.
How do you know that? Maybe I have a small business and am completely leveraged out in loans.
Exactly. This is fundamentally whats wrong with the checks. It's given out to people based on AGI, and not necessarily need. Do people who were instructed to work at home but maintain their full salary need the bonus?

rkhusky
Posts: 9450
Joined: Thu Aug 18, 2011 8:09 pm

Re: How are you going to use your stimulus money?

Post by rkhusky » Fri Mar 27, 2020 5:43 pm

Went out today and bought the kids a minibike.

SimonJester
Posts: 2131
Joined: Tue Aug 16, 2011 12:39 pm

Re: How are you going to use your stimulus money?

Post by SimonJester » Fri Mar 27, 2020 5:44 pm

Looks like both of my adult kids in college will not get anything. Sad really because they both lost their jobs. Ill probably give 1/2 of what ever we get to them...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

User avatar
yangtui
Posts: 492
Joined: Sun Mar 30, 2014 1:32 pm
Contact:

Re: How are you going to use your stimulus money?

Post by yangtui » Fri Mar 27, 2020 5:51 pm

I am going to use it to help alleviate the tension and anxiety that a lot of people are feeling right now. That probably means I will continue to grossly over tip the local places I have been getting takeout from.

Broken Man 1999
Posts: 4418
Joined: Wed Apr 08, 2015 11:31 am
Location: West coast of Florida, inland on high ground!

Re: How are you going to use your stimulus money?

Post by Broken Man 1999 » Fri Mar 27, 2020 5:52 pm

We didn't hit the cut-off point in 2018, so, looks like we will have an extra $2,400 in 3-8 weeks. We haven't filed 2019 taxes yet.

We shall see how things are in 3-8 weeks, then decide what to do with it. Extended-family members might need some help, I certainly need no toys.

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go. " -Mark Twain

PharmerBrown
Posts: 86
Joined: Sat Mar 08, 2014 7:50 pm
Location: Pennsylvania

Re: How are you going to use your stimulus money?

Post by PharmerBrown » Fri Mar 27, 2020 5:54 pm

Go Blue 99 wrote:
Fri Mar 27, 2020 5:16 pm
I realize being over the $199k married couple AGI limit means you don't the $2,400. But is the $500 per child also subject to that same AGI rule?
The phaseout is expanded for an additional $500 for each child. Calculate the total you qualify for and then subtract $5 for every $100 your AGI is over 150k. So, at 218k you would not get anything if you are a couple with two children.

rkhusky
Posts: 9450
Joined: Thu Aug 18, 2011 8:09 pm

Re: How are you going to use your stimulus money?

Post by rkhusky » Fri Mar 27, 2020 5:56 pm

jeam3131 wrote:
Fri Mar 27, 2020 5:43 pm
Poorman wrote:
Fri Mar 27, 2020 5:36 pm
jjface wrote:
Fri Mar 27, 2020 5:12 pm
It is also annoying to see people complain that they won't get it because they made $100k ind/$200k family in 2019 (even though they made only up to $75k/$150k in 2018)

You don't need it be glad of that.

I have no plans to increase spending on anything in particular. Will keep tipping grocery deliveries well etc.
How do you know that? Maybe I have a small business and am completely leveraged out in loans.
Exactly. This is fundamentally whats wrong with the checks. It's given out to people based on AGI, and not necessarily need. Do people who were instructed to work at home but maintain their full salary need the bonus?
How many years do you think it would have taken Congress to agree to a fair formula?

EFF_fan81
Posts: 397
Joined: Sat Jan 07, 2012 11:23 am

Re: How are you going to use your stimulus money?

Post by EFF_fan81 » Fri Mar 27, 2020 5:57 pm

We're getting $2,900. Hooray for having three kids.

Each of the kiddos will get $500 in their 529s.

My wife and I will get $700 each. I'm guessing most of that will end up in VTSAX.

User avatar
willthrill81
Posts: 19083
Joined: Thu Jan 26, 2017 3:17 pm
Location: USA

Re: How are you going to use your stimulus money?

Post by willthrill81 » Fri Mar 27, 2020 5:57 pm

We'll likely convert it all to hard cash and store it in a secure location.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

EFF_fan81
Posts: 397
Joined: Sat Jan 07, 2012 11:23 am

Re: How are you going to use your stimulus money?

Post by EFF_fan81 » Fri Mar 27, 2020 5:59 pm

SimonJester wrote:
Fri Mar 27, 2020 5:44 pm
Looks like both of my adult kids in college will not get anything. Sad really because they both lost their jobs. Ill probably give 1/2 of what ever we get to them...
If they lost jobs they will get higher unemployment now and also get the stimulus check next year with next year's tax return.

User avatar
happymob
Posts: 647
Joined: Wed Nov 18, 2009 4:09 pm

Re: How are you going to use your stimulus money?

Post by happymob » Fri Mar 27, 2020 6:01 pm

Might go to our church (having online services and tithing, but I'm guessing that has dropped off some and we don't have a lot of margin for error in our budget) or to pay taxes on a larger than usual Roth conversion (though have to be careful not to push 2020 AGI into the phaseout for the stimulus money).

User avatar
ray.james
Posts: 1321
Joined: Tue Jul 19, 2011 4:08 am

Re: How are you going to use your stimulus money?

Post by ray.james » Fri Mar 27, 2020 6:04 pm

We will be paying our home daycare lady. Its a small home daycare and she has young kids. Before this, we planned for 50%.
When in doubt, http://www.bogleheads.org/forum/viewtopic.php?f=1&t=79939

User avatar
FreeAtLast
Posts: 696
Joined: Tue Nov 04, 2014 9:08 pm

Re: How are you going to use your stimulus money?

Post by FreeAtLast » Fri Mar 27, 2020 6:06 pm

I am going to receive the full $1200. I will split it all up into equal gifts for my siblings' children.
Illegitimi non carborundum.

H-Town
Posts: 2776
Joined: Sun Feb 26, 2017 2:08 pm

Re: How are you going to use your stimulus money?

Post by H-Town » Fri Mar 27, 2020 6:07 pm

bigtex wrote:
Wed Mar 25, 2020 2:30 pm
How are you going to use your stimulus money?
We are phased out completely. I hope the money goes to those who need it.

averagedude
Posts: 1134
Joined: Sun May 13, 2018 3:41 pm

Re: How are you going to use your stimulus money?

Post by averagedude » Fri Mar 27, 2020 6:07 pm

Checking account. Reduced hours at my job, so it should come in handy. Spending will be the same. Middle class.

User avatar
Go Blue 99
Posts: 928
Joined: Thu Oct 09, 2008 3:42 pm

Re: How are you going to use your stimulus money?

Post by Go Blue 99 » Fri Mar 27, 2020 6:09 pm

PharmerBrown wrote:
Fri Mar 27, 2020 5:54 pm
Go Blue 99 wrote:
Fri Mar 27, 2020 5:16 pm
I realize being over the $199k married couple AGI limit means you don't the $2,400. But is the $500 per child also subject to that same AGI rule?
The phaseout is expanded for an additional $500 for each child. Calculate the total you qualify for and then subtract $5 for every $100 your AGI is over 150k. So, at 218k you would not get anything if you are a couple with two children.
That is helpful, thank you.

carolc
Posts: 236
Joined: Thu Mar 22, 2007 11:45 am
Location: New Hampshire seacoast

Re: How are you going to use your stimulus money?

Post by carolc » Fri Mar 27, 2020 6:09 pm

We will donate whatever amount we get to End 68 Hours of Hunger. Feeding kids.

carolc

User avatar
Sandtrap
Posts: 10963
Joined: Sat Nov 26, 2016 6:32 pm
Location: Hawaii No Ka Oi , N. Arizona

Re: How are you going to use your stimulus money?

Post by Sandtrap » Fri Mar 27, 2020 6:13 pm

medical bills
good timing

j :happy
Last edited by Sandtrap on Fri Mar 27, 2020 6:14 pm, edited 1 time in total.
Wiki Bogleheads Wiki: Everything You Need to Know

User avatar
nps
Posts: 1030
Joined: Thu Dec 04, 2014 10:18 am

Re: How are you going to use your stimulus money?

Post by nps » Fri Mar 27, 2020 6:14 pm

jeam3131 wrote:
Fri Mar 27, 2020 5:43 pm
Exactly. This is fundamentally whats wrong with the checks. It's given out to people based on AGI, and not necessarily need. Do people who were instructed to work at home but maintain their full salary need the bonus?
More complex kinds of need verification would have resulted in slower delivery to all recipients, including those who need it most.

User avatar
LilyFleur
Posts: 1259
Joined: Fri Mar 02, 2018 10:36 pm

Re: How are you going to use your stimulus money?

Post by LilyFleur » Fri Mar 27, 2020 6:16 pm

I have been off work, unpaid, from my part-time job because my company will not allow me to work remotely. My stimulus check will go straight to my healthcare bills. My healthcare (premium and co-pays) cost me $2300 in January. My monthly premium is around $1700, and I have five years to go before Medicare. Part of the reason I retired early was that I could not find a job with health insurance and enough time off to get to all of my doctor appointments. I am self-isolating and hoping for the best, as I have an at-risk health condition. I just lost my spousal support as well. Things are tighter right now than I had anticipated, but I am grateful for what I have, and I realize lots of folks have it a lot worse than me.

btenny
Posts: 5381
Joined: Sun Oct 07, 2007 6:47 pm

Re: How are you going to use your stimulus money?

Post by btenny » Fri Mar 27, 2020 6:20 pm

I am not sure I am getting anything. We are under very slightly if they use AGI and do not add in tax exempt interest. So TBD.

But if we get some I will buy some gift cards from some of the local stores and restaurants. Then TBD on the rest. My kids are all OK for now but things are very fluid... If they are OK I will give the rest to local food bank where I already give them big $ annually.

User avatar
Tim_in_GA
Posts: 395
Joined: Wed Jun 08, 2011 9:42 am

Re: How are you going to use your stimulus money?

Post by Tim_in_GA » Fri Mar 27, 2020 6:27 pm

We’re getting $2400 and it will all go into our emergency fund. I have a furlough coming up, and there may be more.

snowman
Posts: 1140
Joined: Thu Jan 31, 2013 12:59 pm

Re: How are you going to use your stimulus money?

Post by snowman » Fri Mar 27, 2020 6:28 pm

EFF_fan81 wrote:
Fri Mar 27, 2020 5:59 pm
SimonJester wrote:
Fri Mar 27, 2020 5:44 pm
Looks like both of my adult kids in college will not get anything. Sad really because they both lost their jobs. Ill probably give 1/2 of what ever we get to them...
If they lost jobs they will get higher unemployment now and also get the stimulus check next year with next year's tax return.
If they are full time students with part-time jobs, they almost certainly don't qualify for unemployment benefits. And as dependents, they don't qualify for stimulus money either.

User avatar
Cheez-It Guy
Posts: 909
Joined: Sun Mar 03, 2019 4:20 pm

Re: How are you going to use your stimulus money?

Post by Cheez-It Guy » Fri Mar 27, 2020 6:28 pm

VTSAX

260chrisb
Posts: 510
Joined: Wed Apr 28, 2010 7:26 pm

Re: How are you going to use your stimulus money?

Post by 260chrisb » Fri Mar 27, 2020 6:49 pm

Down payment on a 2020 Porsche 911S Turbo. :D

Gnirk
Posts: 1256
Joined: Sun Sep 09, 2012 3:11 am
Location: Western Washington

Re: How are you going to use your stimulus money?

Post by Gnirk » Fri Mar 27, 2020 6:53 pm

We won't get one, being retired with ample income. However, if for some reason I should receive a check, I will cash it and donate it or give it directly to someone who needs it far more than i do.

flyingaway
Posts: 2714
Joined: Fri Jan 17, 2014 10:19 am

Re: How are you going to use your stimulus money?

Post by flyingaway » Fri Mar 27, 2020 6:53 pm

I don't think many people on this board will receive a penny. I know I didn't receive a penny in the 2008-2009 round.

nesdog
Posts: 171
Joined: Thu Dec 07, 2017 8:20 pm

Re: How are you going to use your stimulus money?

Post by nesdog » Fri Mar 27, 2020 6:53 pm

The full amount into the bank. But will now feel better that we are paying our housekeeper fully even though we won't likely see her again until late Spring! Also use some of that supporting our local restaurants.
Insert clever comment here...

ruhigste
Posts: 58
Joined: Sun Jan 20, 2019 8:13 am

Re: How are you going to use your stimulus money?

Post by ruhigste » Fri Mar 27, 2020 7:04 pm

Tim_in_GA wrote:
Fri Mar 27, 2020 6:27 pm
We’re getting $2400 and it will all go into our emergency fund. I have a furlough coming up, and there may be more.
+1 on the amount and the destination. We're retired.

BW1985
Posts: 2046
Joined: Tue Mar 23, 2010 6:12 pm

Re: How are you going to use your stimulus money?

Post by BW1985 » Fri Mar 27, 2020 7:20 pm

il0kin wrote:
Fri Mar 27, 2020 5:33 pm
Need to discuss with my wife, but:
$500 to charities which will benefit those most vulnerable
$500 to locally owned small businesses
$2400 towards our bathroom remodel, whenever it starts (delayed due to virus)

I sure am glad it’s based on AGI. Tax efficiency for the win!
Same! AGI we qualify, because of maxed 401k contributions.

Also planning to spend it on our bathroom remodel. My wife is happy :beer
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?

GCD
Posts: 1119
Joined: Tue Sep 26, 2017 7:11 pm

Re: How are you going to use your stimulus money?

Post by GCD » Fri Mar 27, 2020 7:21 pm

jeam3131 wrote:
Fri Mar 27, 2020 5:16 pm
Dottie57 wrote:
Fri Mar 27, 2020 4:51 pm
If I get money, I plan to give it away. There are people in true need so all I need to do is figure out where it will doo the most good.
Thats really nice of you. I know plenty of people who will be receiving these checks who didn't lose their jobs or who had no job/desire to work in the first place.
I don't know how the .gov could give it to "deserving" people quickly and efficiently. Like someone else already said, I usually end up on the wrong side of the cutoff for this stuff. In this particular circumstance we got crazy lucky. We shifted some money around last year, paid taxes on it and put it into a Roth IRA. Our AGI was over $340K. This year we are at $164K AGI because we changed our plan. We aren't any more or worse off than we were (aside from the stock market tanking overall), but now we magically qualify.

On top of that, both of us are retired so the whole stay-in-your-house-and-don't-go-to-work thing is a non-issue for us financially.

I'm torn between putting it in VTSMX right away and going out and blowing it in the community to help out the local businesses. Of course they are all shut down. Not sure how this is gonna pump the economy when the only place people can go to spend money is the grocery store and Amazon.

RomeoMustDie
Posts: 155
Joined: Sat Mar 14, 2020 6:07 pm

Re: How are you going to use your stimulus money?

Post by RomeoMustDie » Fri Mar 27, 2020 7:22 pm

260chrisb wrote:
Fri Mar 27, 2020 6:49 pm
Down payment on a 2020 Porsche 911S Turbo. :D
:beer

User avatar
Mlm
Posts: 461
Joined: Sat Apr 09, 2016 6:00 pm

Re: How are you going to use your stimulus money?

Post by Mlm » Fri Mar 27, 2020 7:25 pm

Medical bills. It's been a rough year so far.

Post Reply