How are you going to use your stimulus money?

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

Post by mnsportsgeek »

Just going to grow our emergency fund. If this thing lasts much longer than another 3-4 weeks the layoffs are going to start impacting office jobs. I’ve already been asked to take 4 days PTO over the next 2 weeks.
whunter3333
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Re: How are you going to use your stimulus money?

Post by whunter3333 »

At the risk of straying into the political (sorry Lady Geek if this is too much), but I think the concern for Bogleheads should be to spend the money to juice the economy and get things moving again. The loss of $1200 or $2400 or a little more (by not receiving a check) pales in comparison to the amount of money we will earn when the stock market gets moving again. So I'll be spending the check if I get one, and also trying to continue with my current discretionary spending (rather than retrenching), and likely/hopefully at some point in the future paying off/down the national debt with the money we will make through a robust economy. In general, I try to spend it with small service oriented businesses/entrepreneurs that have lost almost all revenue as a result of the social isolation. Like my barber, or restaurants, or theaters, or sporting venues, etc...
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Re: How are you going to use your stimulus money?

Post by student »

whunter3333 wrote: Sat Mar 28, 2020 7:00 am At the risk of straying into the political (sorry Lady Geek if this is too much), but I think the concern for Bogleheads should be to spend the money to juice the economy and get things moving again. The loss of $1200 or $2400 or a little more (by not receiving a check) pales in comparison to the amount of money we will earn when the stock market gets moving again. So I'll be spending the check if I get one, and also trying to continue with my current discretionary spending (rather than retrenching), and likely/hopefully at some point in the future paying off/down the national debt with the money we will make through a robust economy. In general, I try to spend it with small service oriented businesses/entrepreneurs that have lost almost all revenue as a result of the social isolation. Like my barber, or restaurants, or theaters, or sporting venues, etc...
I don't think this is political at all.
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Sheepdog
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Re: How are you going to use your stimulus money?

Post by Sheepdog »

whunter3333 wrote: Sat Mar 28, 2020 7:00 am At the risk of straying into the political (sorry Lady Geek if this is too much), but I think the concern for Bogleheads should be to spend the money to juice the economy and get things moving again. The loss of $1200 or $2400 or a little more (by not receiving a check) pales in comparison to the amount of money we will earn when the stock market gets moving again. So I'll be spending the check if I get one, and also trying to continue with my current discretionary spending (rather than retrenching), and likely/hopefully at some point in the future paying off/down the national debt with the money we will make through a robust economy. In general, I try to spend it with small service oriented businesses/entrepreneurs that have lost almost all revenue as a result of the social isolation. Like my barber, or restaurants, or theaters, or sporting venues, etc...
I suggest that the recipient doesn't have to spend it, but instead, if you donate it to some charitable organization such as a food bank, humane society, homeless shelter, etc. , they will spend it for you right away. It is very unlikely that any such organization will just put in a bank. THEY will spend it thereby juicing the economy and assisting many.
Last edited by Sheepdog on Sat Mar 28, 2020 7:51 am, edited 1 time in total.
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simas
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Re: How are you going to use your stimulus money?

Post by simas »

livesoft wrote: Sat Mar 28, 2020 7:38 am
simas wrote: Sat Mar 28, 2020 7:34 am very disappointed to see how selfish and scummy people become when they feel they can abuse events to get something for the special ME.
But as far as a life philosophy goes, if you believe that most people are like you describe, then you will probably make better decisions.

Oh, if I get any money, then I am going to stimulate myself.
this is how I see people acting, I very much not believe in this as working life philosophy (instead I much follow 'what goes around, comes around' ). I will not stop paying banks when I am obligated and have means to just because I can abuse some relief provision which I do not need. I will also not take from common dole (food, supplies ,etc) when I have no true need to do so, instead I will try to put things into it (helping my neighbors, etc)

may be I am a minority but I can not see living in any other way and sleeping well at night...
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BogleFanGal
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Re: How are you going to use your stimulus money?

Post by BogleFanGal »

VeganBH wrote: Sat Mar 28, 2020 12:27 am
Nyc10036 wrote: Fri Mar 27, 2020 8:12 pm Donating to various farm animal rescues.
Thank you - that's awesome ..... :sharebeer
that IS awesome :beer
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JoMoney
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Re: How are you going to use your stimulus money?

Post by JoMoney »

I will use it to offset my 2020 taxes, because if I get it at all, it will be a credit based on my income this year, not 2019 or 2018.
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BobStrauss
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Re: How are you going to use your stimulus money?

Post by BobStrauss »

whunter3333 wrote: Sat Mar 28, 2020 7:00 am At the risk of straying into the political (sorry Lady Geek if this is too much), but I think the concern for Bogleheads should be to spend the money to juice the economy and get things moving again. The loss of $1200 or $2400 or a little more (by not receiving a check) pales in comparison to the amount of money we will earn when the stock market gets moving again. So I'll be spending the check if I get one, and also trying to continue with my current discretionary spending (rather than retrenching), and likely/hopefully at some point in the future paying off/down the national debt with the money we will make through a robust economy. In general, I try to spend it with small service oriented businesses/entrepreneurs that have lost almost all revenue as a result of the social isolation. Like my barber, or restaurants, or theaters, or sporting venues, etc...
Couldn’t agree with you more.
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Re: How are you going to use your stimulus money?

Post by LadyGeek »

whunter3333 wrote: Sat Mar 28, 2020 7:00 am At the risk of straying into the political (sorry Lady Geek if this is too much), but I think the concern for Bogleheads should be to spend the money to juice the economy and get things moving again. The loss of $1200 or $2400 or a little more (by not receiving a check) pales in comparison to the amount of money we will earn when the stock market gets moving again. So I'll be spending the check if I get one, and also trying to continue with my current discretionary spending (rather than retrenching), and likely/hopefully at some point in the future paying off/down the national debt with the money we will make through a robust economy. In general, I try to spend it with small service oriented businesses/entrepreneurs that have lost almost all revenue as a result of the social isolation. Like my barber, or restaurants, or theaters, or sporting venues, etc...
You're post is fine, no worries.
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lostdog
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Re: How are you going to use your stimulus money?

Post by lostdog »

I'll add it to the cash pile for now.

We'll use it at our vacation city at the small businesses. They heavily rely on tourist money in the spring and summer.
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Shallowpockets
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Re: How are you going to use your stimulus money?

Post by Shallowpockets »

I think they should have lowered the upper threshold and redistributed to those under it. That’s who needs it, not all of us richer BHs.
I don’t deserve or need this check. But it will come to me. I plan on donating it to the homeless shelter. Now there’s some people who could benefit, yet their invisibility and no earnings, no tax will net them nothing.
cyclist
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Re: How are you going to use your stimulus money?

Post by cyclist »

Capital Area Food Bank.

We qualify because we’ve arranged our finances to limit our income for ACA subsidy purposes, but there are rather a lot more people whose income is suddenly well more limited right now.

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

Post by mbasherp »

As 12% marginal bracket bogleheads, this is a big help. I have taken a hit (all side income disappeared) and we are in the middle of still to be determined cuts at the main job. Pay will be down 25% at a minimum. DWs job, which we assumed was stable during this type of crisis, is cutting back too.

We are using our $2400 to possibly make April the last month that we hit all our monthly goals for savings and investment. By May, it’s 50/50 that we have to dial back significantly.
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Re: How are you going to use your stimulus money?

Post by Dottie57 »

kcxie wrote: Fri Mar 27, 2020 11:16 pm For the fortunate people here who will receive a check but dot not really need it. Please help the local medical community. Lot of medical professionals risk their life to save the patients who got sick from the virus. But they do not have proper PPE (personal protection equipment such as masks). They also struggle to find daycares to take care of their kids. Please find ways to help them. We are all in this together. Help the local medical community is to help yourself. Thanks a lot !
The problem is that I have no good organized way to know how to help them. If money would help I would send it.
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Re: How are you going to use your stimulus money?

Post by MikeG62 »

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?
Exactly why this money should have been redirected to further top-off unemployment benefits for those no longer receiving a paycheck IMHO.
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stoptothink
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Re: How are you going to use your stimulus money?

Post by stoptothink »

snowman wrote: Fri Mar 27, 2020 8:51 pm
Alan S. wrote: Fri Mar 27, 2020 8:29 pm Many people had no emergency funds or highly inadequate funds. This will be a costly lesson for them and will scare most everyone. Much of the stimulus will be used to replenish these funds instead of spending the money to stimulate the economy.
As much as I wish for this to be true, reality is different. Most people do not have EF and live paycheck to paycheck. They did not learn in 2000, they did not learn in 2008, and they will not learn in 2020. Most of the money will be spent. Very sad state of affairs we live in...
+1. My brother lives paycheck-to-paycheck, but him and his wife combined make over twice the threshold so they aren't getting a dime...and if they did, I bet my life it would be spent in a day. My little sister who makes $13/hr, she is fine and I bet this goes straight to her Roth.
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Re: How are you going to use your stimulus money?

Post by MikeG62 »

simas wrote: Sat Mar 28, 2020 7:47 am
livesoft wrote: Sat Mar 28, 2020 7:38 am
simas wrote: Sat Mar 28, 2020 7:34 am very disappointed to see how selfish and scummy people become when they feel they can abuse events to get something for the special ME.
But as far as a life philosophy goes, if you believe that most people are like you describe, then you will probably make better decisions.

Oh, if I get any money, then I am going to stimulate myself.
this is how I see people acting, I very much not believe in this as working life philosophy (instead I much follow 'what goes around, comes around' ). I will not stop paying banks when I am obligated and have means to just because I can abuse some relief provision which I do not need. I will also not take from common dole (food, supplies ,etc) when I have no true need to do so, instead I will try to put things into it (helping my neighbors, etc)

may be I am a minority but I can not see living in any other way and sleeping well at night...
Well said simas. Could not agree more.
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SDLinguist
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Re: How are you going to use your stimulus money?

Post by SDLinguist »

MikeG62 wrote: Sat Mar 28, 2020 9:11 am
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?
Exactly why this money should have been redirected to further top-off unemployment benefits for those no longer receiving a paycheck IMHO.
I personally think they checks are a dumb publicity stunt and the money should have been spent on even more expanded unemployment and disability benefits.

I checked this morning and we will get the full check because our 2019 AGI was less than $1000 below the limit. Do we need it? No, it is kind of pointless to be sending us $2400 as we are both just working from home without any impact. If anything being forced to work from home makes us spend less money on things like lunch out. But the line had to be drawn somewhere and we just happened to be on one side of it and not the other. What will we spend it on? Realistically the money will be direct deposited to our HYS account and we will totally forget about it.

It is well known everybody wants to think of themselves as middle class even when they aren't. I think a good chunk of the complaining about not getting the money is based on the fact that it destroys peoples notion that they are middle class. All the complaints about "I already filed, with 2018 I would have gotten all the money, with 2019 I get nothing" is literally a complaint of "in 2019 I made an extra median household amount of money more than I did in 2018 and not I don't get anything". Anybody who is not getting a check at all is grossing at a minimum ~4x the median income by my shoddy calculation.
rage_phish
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Re: How are you going to use your stimulus money?

Post by rage_phish »

We qualify for the full amount by about $300

Plus two kids

It’s going straight into savings
simplesauce
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Re: How are you going to use your stimulus money?

Post by simplesauce »

SDLinguist wrote: Sat Mar 28, 2020 9:26 am
MikeG62 wrote: Sat Mar 28, 2020 9:11 am
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?
Exactly why this money should have been redirected to further top-off unemployment benefits for those no longer receiving a paycheck IMHO.

It is well known everybody wants to think of themselves as middle class even when they aren't. I think a good chunk of the complaining about not getting the money is based on the fact that it destroys peoples notion that they are middle class. All the complaints about "I already filed, with 2018 I would have gotten all the money, with 2019 I get nothing" is literally a complaint of "in 2019 I made an extra median household amount of money more than I did in 2018 and not I don't get anything". Anybody who is not getting a check at all is grossing at a minimum ~4x the median income by my shoddy calculation.

This right here. Well said. Absolutely well said.
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Go Blue 99
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Re: How are you going to use your stimulus money?

Post by Go Blue 99 »

It looks like we'll be getting $800 (it would have been $1150 if I hadn't filed our '19 taxes already).

We plan on using the money to support our favorite local restaurants and tipping well. I feel terrible for that industry.
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Re: How are you going to use your stimulus money?

Post by KESP »

I plan on hiring my laid off nephews to do work around my house, like painting the deck and raking the yard. Both are in the restaurant business.
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Re: How are you going to use your stimulus money?

Post by Sidnaw_kid »

We expect to receive a stimulus check. If and when it comes, we will donate 100% to a local soup kitchen/foodbank that we have supported with lesser amounts until now.
GeoffD
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Re: How are you going to use your stimulus money?

Post by GeoffD »

I guess I fall in the semi-retired and probably retired bucket where I don't give high odds of working again beyond dribs & drabs of beer money. In 2019, I had a slice of 1099-MISC consulting money and pulled a bit out of a 401(k) around Thanksgiving to top myself up to the top of the 12% bracket. I will be receiving all of the stimulus money.

The $1,200 should cover a chunk of my May cash flow. My discretionary spending is pretty much zero and that looks like my world for the next 6+ months.
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Re: How are you going to use your stimulus money?

Post by LadyGeek »

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

Post by terran »

KESP wrote: Sat Mar 28, 2020 9:51 am I plan on hiring my laid off nephews to do work around my house, like painting the deck and raking the yard. Both are in the restaurant business.
They might be better off applying for unemployment, especially with the new expanded coverage.
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Re: How are you going to use your stimulus money?

Post by getthatmarshmallow »

MikeG62 wrote: Sat Mar 28, 2020 9:11 am
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?
Exactly why this money should have been redirected to further top-off unemployment benefits for those no longer receiving a paycheck IMHO.
I disagree. Not everyone is eligible for unemployment, even if they've lost work, and administering it is time and money we don't have and will lead to just as much bellyaching over who really deserves it. This puts money in people's hands and lets them decide how best to use it; those of us who don't need it as of March 28 might find ourselves needing it in a month, or might find the extra cushion allows us to be more generously locally. Investing isn't bad, either.
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WoodSpinner
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Re: How are you going to use your stimulus money?

Post by WoodSpinner »

simas wrote: Sat Mar 28, 2020 7:47 am
livesoft wrote: Sat Mar 28, 2020 7:38 am
simas wrote: Sat Mar 28, 2020 7:34 am very disappointed to see how selfish and scummy people become when they feel they can abuse events to get something for the special ME.
But as far as a life philosophy goes, if you believe that most people are like you describe, then you will probably make better decisions.

Oh, if I get any money, then I am going to stimulate myself.
this is how I see people acting, I very much not believe in this as working life philosophy (instead I much follow 'what goes around, comes around' ). I will not stop paying banks when I am obligated and have means to just because I can abuse some relief provision which I do not need. I will also not take from common dole (food, supplies ,etc) when I have no true need to do so, instead I will try to put things into it (helping my neighbors, etc)

may be I am a minority but I can not see living in any other way and sleeping well at night...
+1
With you on this one ....

We won’t qualify for anything except a $300 above the line charitable deduction in 2020. No worries here, others need it more. Doubling or quadrupling my charitable donations—not sure how I am going to replenish the DAF but that is a worry for another time.

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

Post by nisiprius »

bigtex wrote: Wed Mar 25, 2020 2:30 pm How are you going to use your stimulus money?
Despite having gotten a refund from 2018 direct-deposited in our bank account, I am not going to count my chickens until they are hatched. But if I get me some of that sweet, sweet stimulus mazuma...
We're in the money,
Come on, my honey,
Let's spend it, lend it,
Send it rolling around!
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Re: How are you going to use your stimulus money?

Post by student »

simas wrote: Sat Mar 28, 2020 7:47 am
livesoft wrote: Sat Mar 28, 2020 7:38 am
simas wrote: Sat Mar 28, 2020 7:34 am very disappointed to see how selfish and scummy people become when they feel they can abuse events to get something for the special ME.
But as far as a life philosophy goes, if you believe that most people are like you describe, then you will probably make better decisions.

Oh, if I get any money, then I am going to stimulate myself.
this is how I see people acting, I very much not believe in this as working life philosophy (instead I much follow 'what goes around, comes around' ). I will not stop paying banks when I am obligated and have means to just because I can abuse some relief provision which I do not need. I will also not take from common dole (food, supplies ,etc) when I have no true need to do so, instead I will try to put things into it (helping my neighbors, etc)

may be I am a minority but I can not see living in any other way and sleeping well at night...
Maybe not concentrate on the post that you find negative. There are many posts where people are being generous and stated that they intend to donate the money.
Wricha
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Re: How are you going to use your stimulus money?

Post by Wricha »

260chrisb wrote: Fri Mar 27, 2020 6:49 pm Down payment on a 2020 Porsche 911S Turbo. :D
Finally something reasonable
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Re: How are you going to use your stimulus money?

Post by JakeyLee »

Before I found out that I was getting nothing, I was going to send it to my nieces. Both in college, and both lost their part time jobs. But alas...
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Re: How are you going to use your stimulus money?

Post by sergeant »

snowman wrote: Fri Mar 27, 2020 8:18 pm
sergeant wrote: Fri Mar 27, 2020 7:37 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...
This doesn't make sense to me. Did they make over 75k AGI with their part-time college jobs?

Edit: I see you answered it in another post. In that other post you say they don't qualify for unemployment insurance because they're part-time. Are you sure of that? Most states do allow UI for part-timers. Also, this bill has a provision for part-timers.
Hey sergeant, that was me responding to jester. I have a kid in college too, so I looked the rules. Dependents are not eligible, no matter how much or how little money they make.
I get that dependents don't get the free checks. My point was that the bill has a provision for part-time workers receiving unemployment insurance and that many states do allow part-time workers to receive UI. I just glanced at the bill though and don't remember exactly what it says.
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Re: How are you going to use your stimulus money?

Post by JGoneRiding »

Until I know what is happening all "extra' money is padding the ef. Part if my ef was in stocks and the Roth was our extreme back up ef. I think we will be fine because even if we both loose our jobs the unemployment payments are so high we can survive fine. But I have learned my lesson. When this is done I will work on building up a 30k ef. Part of the reason u had not was we are poor bogleheads and I still owed on SL (now almost done) and some car (very close to being done) and now I have a little cc debt and medical debt from having 2 children.
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Re: How are you going to use your stimulus money?

Post by 3funder »

Either open my daughter's 529 account 6 months earlier than planned or put in Prime Money Market to save for next vehicle purchase.
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Re: How are you going to use your stimulus money?

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

Post by snowman »

sergeant wrote: Sat Mar 28, 2020 11:38 am
snowman wrote: Fri Mar 27, 2020 8:18 pm
sergeant wrote: Fri Mar 27, 2020 7:37 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...
This doesn't make sense to me. Did they make over 75k AGI with their part-time college jobs?

Edit: I see you answered it in another post. In that other post you say they don't qualify for unemployment insurance because they're part-time. Are you sure of that? Most states do allow UI for part-timers. Also, this bill has a provision for part-timers.
Hey sergeant, that was me responding to jester. I have a kid in college too, so I looked the rules. Dependents are not eligible, no matter how much or how little money they make.
I get that dependents don't get the free checks. My point was that the bill has a provision for part-time workers receiving unemployment insurance and that many states do allow part-time workers to receive UI. I just glanced at the bill though and don't remember exactly what it says.
Oh, I see. Here is my exact response in that post: "If they are full time students with part-time jobs, they almost certainly don't qualify for unemployment benefits."

Here is a short read why that is the case: https://legalbeagle.com/13653085-can-co ... efits.html
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catdude
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Re: How are you going to use your stimulus money?

Post by catdude »

Probably donate it to my favorite cat shelter. Their donation income is taking a hit... at the same time, the need for their services is increasing (people will be giving up their cats when they lose their jobs).
catdude | | "I yield to the gentleman for a few feeble remarks." (Congressman Thaddeus Stevens)
capsaicinguy
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Re: How are you going to use your stimulus money?

Post by capsaicinguy »

Closing costs and what's left over to a fence.
Traveler
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Re: How are you going to use your stimulus money?

Post by Traveler »

I won't be getting a check but since there are few places to spend money right now, I am saving more than usual
Hyperchicken
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Re: How are you going to use your stimulus money?

Post by Hyperchicken »

Putting it in my savings account, and then buying the dips if I feel greedy, or keeping it in cash if I feel fearful.
fareastwarriors
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Re: How are you going to use your stimulus money?

Post by fareastwarriors »

If I e-file today, do you think I'll make 2019 cut off?
Ron Ronnerson
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Re: How are you going to use your stimulus money?

Post by Ron Ronnerson »

We qualify for $2900 (two adults and a kid) by being $87k under the phase-out range. Also, even though our 2019 AGI was $63k, I’m in the Bay Area where the cost of living is high.

The money from this stimulus is going straight into savings as I’d like to build up our emergency fund a bit more. I’m still getting my entire paycheck but expect that once more dominos start falling, I will be affected. There could be furloughs down the road like during the last recession and perhaps pay cuts in the future if funding dries up enough. I’m a public school teacher and my wife is a stay-at-home parent.

I’d love to stimulate the economy more with this money but I also want to make sure I’ve got enough cash on hand to keep paying my bills while maintaining a safety net to some extent. I’m trying to be prudent considering we don’t yet know how bad things will get.
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Harry Livermore
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Re: How are you going to use your stimulus money?

Post by Harry Livermore »

Looks like my response was removed, so I'll repost and keep it short and straight.
Not getting any, so I will not be doing anything with it.
Cheers
Oakwood42
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Re: How are you going to use your stimulus money?

Post by Oakwood42 »

whunter3333 wrote: Sat Mar 28, 2020 7:00 am At the risk of straying into the political (sorry Lady Geek if this is too much), but I think the concern for Bogleheads should be to spend the money to juice the economy and get things moving again. The loss of $1200 or $2400 or a little more (by not receiving a check) pales in comparison to the amount of money we will earn when the stock market gets moving again. So I'll be spending the check if I get one, and also trying to continue with my current discretionary spending (rather than retrenching), and likely/hopefully at some point in the future paying off/down the national debt with the money we will make through a robust economy. In general, I try to spend it with small service oriented businesses/entrepreneurs that have lost almost all revenue as a result of the social isolation. Like my barber, or restaurants, or theaters, or sporting venues, etc...
+1. I don’t expect to receive a check however I want to continue supporting my local small businesses.
goaties
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Re: How are you going to use your stimulus money?

Post by goaties »

MikeG62 wrote: Sat Mar 28, 2020 9:11 am
Exactly why this money should have been redirected to further top-off unemployment benefits for those no longer receiving a paycheck IMHO.
Yeah, I agree with that. So, after sending a few hundred to our local food bank, the rest is going to a laid-off friend of mine who is teetering on the edge of bankruptcy. He's been talking about cashing in his IRA! Noooooooooo!
MikeG62
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Re: How are you going to use your stimulus money?

Post by MikeG62 »

goaties wrote: Sat Mar 28, 2020 1:58 pm
MikeG62 wrote: Sat Mar 28, 2020 9:11 am
Exactly why this money should have been redirected to further top-off unemployment benefits for those no longer receiving a paycheck IMHO.
Yeah, I agree with that. So, after sending a few hundred to our local food bank, the rest is going to a laid-off friend of mine who is teetering on the edge of bankruptcy. He's been talking about cashing in his IRA! Noooooooooo!
You sound like a good person and a great friend goaties. We will make every effort to redirect anything we receive to those who need it as well.
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snowman
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Re: How are you going to use your stimulus money?

Post by snowman »

fareastwarriors wrote: Sat Mar 28, 2020 1:44 pm If I e-file today, do you think I'll make 2019 cut off?
Nobody knows the date of "the look" as it wasn't published anywhere. All I can say is that you increase your chances if you do. I filed my son's 2019 taxes yesterday, since in 2018 he was still dependent. I hope he makes the cutoff, but there is no guarantee. If he doesn't, he will get it a year from now.
niceguy7376
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Re: How are you going to use your stimulus money?

Post by niceguy7376 »

We are the small minority here - None of the numbers of our 1040 are in 6 digits. I have not yet filed 2019 because I didnt have enough to contribute to HSA & Roth IRA. Need to research more on when this deposit is expected.
fareastwarriors
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Re: How are you going to use your stimulus money?

Post by fareastwarriors »

snowman wrote: Sat Mar 28, 2020 2:19 pm
fareastwarriors wrote: Sat Mar 28, 2020 1:44 pm If I e-file today, do you think I'll make 2019 cut off?
Nobody knows the date of "the look" as it wasn't published anywhere. All I can say is that you increase your chances if you do. I filed my son's 2019 taxes yesterday, since in 2018 he was still dependent. I hope he makes the cutoff, but there is no guarantee. If he doesn't, he will get it a year from now.

Thanks. I'm going to finish my brother's and my mom's today! Mine is done :)
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