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15 Million Americans Plan to Turn Their Trump Stimulus Check Into a Money Machine

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An unprecedented pandemic calls for unprecedented action. In the wake of the proliferation of the coronavirus disease 2019 (COVID-19), which has been confirmed in more than 2 million people worldwide and north of 600,000 Americans, Congress acted swiftly to pass the Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 27, which was subsequently signed into law by President Trump.

The CARES Act is a $2.2 trillion stimulus juggernaut that provides $500 billion in loans to distressed industries, $350 billion in small business loans, $260 billion to broaden the unemployment benefits program, and $300 billion for direct stimulus payments to American workers and seniors.

Uncle Sam's arm and hand emerging from a mailbox with a fanned pile of one hundred dollar bills.

Image source: Getty Images.

Who qualifies for a coronavirus stimulus check?

As you might have right imagined, the bulk of interest in the CARES Act lies with these direct stimulus payments to what may amount to as many as 140 million American households. These so-called “Trump stimulus checks” can equate to as much as $1,200 for a single taxpayer, or $2,400 for a married couple filing jointly. Each household can also receive an additional $500 per qualifying child aged 16 and under. Thus, a married couple with two children may net as much as $3,400.

Then again, not everyone qualifies for a coronavirus relief check – or at least the full amount.

For single filers, couples filing jointly, and head-of-household filers with respective adjusted gross income (AGI) above $99,000, $198,000 and $136,500, no stimulus check will be paid. Comparatively, single filers, couples, and head-of-household taxpayers with respective AGIs under $75,000, $150,000 and $112,500, will collect the maximum benefit.

For those folks who fall in between these upper and lower income bounds, $5 in stimulus benefit will be removed for every $100 in AGI above the lower bound. For instance, a single filer with $85,000 in AGI can expect to receive a $700 stimulus check.

Dependents aged 17 and older, along with most non-citizens without a Social Security number, will also be excluded from receiving a stimulus check.

A stack of coins and cash bills, a clock, and a stock market quote board all superimposed next to each other.

Image source: Getty Images.

Some 15 million Americans plan to invest their Trump stimulus check

The big question is: What should you do with your stimulus check once it arrives?

According to a recent survey of more than 1,000 people by online credit repair site Crediful, almost half of all respondents said they planned to use their stimulus check to buy groceries or pay various bills and utility costs. 

But what stood out as particularly striking is that 10.7% of survey respondents planned to invest their Trump stimulus check. If we assume this percentage can be extrapolated out to the approximately 140 million households potentially receiving a stimulus payment, it means (at least) 15 million Americans, or about 1 in 9 households, plan to turn their coronavirus payouts into a money machine.

There’s absolutely no denying that the stock market has been exceptionally volatile of late. Last month, the CBOE Volatility Index, often referred to as the “fear index,” wound up hitting an all-time high. This is because we’re witnessing unparalleled disruption to the labor market and U.S. economy, with nearly 17 million jobs lost in a three-week span and some economists projecting the unemployment rate could spike as high as 30%.

However, the stock market has an impeccable track record of making investors money, so long as they hold onto their investments for long periods of time. Data from Crestmont Research finds that any 20-year rolling period over the past century for the benchmark S&P 500 (SNPINDEX:^GSPC) would have made investors money, inclusive of dividends. In fact, ending the 20-year rolling period in more than 40 of the past 100 years would have resulted in an average annual return of at least 10%.

A businessman in a suit staring intently at a messy pile of cash in front of him.

Image source: Getty Images.

Here are a couple of smart ways to turn your stimulus check into a money machine

If you find yourself among the 15 million Americans likely to put your stimulus check to work on the investment front, here are a few ways you can turn that payout into a bigger sum of money.

First of all, you could always consider aligning your investment up with the broader market by purchasing an exchange-traded fund, or ETF. For example, the Vanguard S&P 500 ETF (NYSEMKT:VOO) very closely mirrors the performance of the benchmark S&P 500, but only winds up charging a microscopic expense ratio of 0.03% per year. This means the Vanguard S&P 500 ETF allows you to hang onto virtually all of your investment. Since we know that there’s never been a 20-year rolling period where the S&P 500 hasn’t made investors money, inclusive of dividends paid, dating back at least a century, the Vanguard S&P 500 ETF is a pretty safe bet.

Another option would be to consider dividend stocks. A 2013 study from J.P. Morgan Asset Management found that companies initiating and raising their payouts between 1972 and 2012 returned an average of 9.5% per year over this four decade stretch. Meanwhile, non-dividend-paying stocks returned an average of just 1.6% annually over this same time frame.

One exceptionally safe option to consider is healthcare conglomerate Johnson & Johnson (NYSE:JNJ), which just announced its 58th consecutive year with a dividend increase this past week. The thing about healthcare is that it’s far more defensive than you might realize. Since we don’t get to choose when we get sick or what ailment(s) we develop, healthcare stocks like Johnson & Johnson tend to experience little or no disruption in cash flow. It also doesn’t hurt that Johnson & Johnson is one of only two publicly traded companies with the highly coveted AAA credit rating from Standard & Poor’s. This means S&P has more confidence in J&J paying back its debts than it does of the U.S. federal government making good on its own debts.

No matter your investment choice, as long as you intend to hold your positions over the long run, you’ll have a pretty good chance of turning your stimulus check into a money machine.



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Black Lives Matter job fair aims to provide economic opportunity in Polk County

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LAKELAND, Fla. (WFLA) – Black Lives Matter organizers in Polk County are putting together a database to help lead people on the path to economic opportunity.

“I do a lot of things. General contracting, general clean up,” Tony Jones, of Lakeland, told a local recruiter.

Tony Jones, who lives in Lakeland

Jones is a veteran looking for a job. He served four years in the U.S. Army.

He wants to work, just needs an opportunity.

“You can’t pay no bills and eat if you’re sitting at home waiting for somebody to hand you something. You gotta get out and get it,” he said.

Jones came to the Dream Center in Lakeland to try to take those steps at a job fair organized by Black Lives Matter Restoration Polk Inc.

Black Lives Matter advocates protested to end police brutality this summer in Lakeland and all across the world with the ultimate goal of social justice.

“What’s going to happen next with Black Lives Matter after the marching and the rally? For us, it’s providing economic opportunity,” said Jarvis Washington, President & Founder of Black Lives Matter Restoration Polk Inc.

Wednesday’s job fair event launched Washington’s economic initiatives.

“We’re going to be working on the personal growth of the individual. We’re going to be helping them on everything from the mentoring program, credit repair programs, teaching them money management,” he said.

BLM partnered with Civitas Recruiting for the event.

Susan Freebern created the organization a few months ago to help community leaders steer under-served communities to good-paying jobs.

“They don’t know where to go to get these kinds of jobs. They don’t feel like they’re offered these kinds of jobs through regular staffing companies. I’m just going to go find those jobs and bring them to them,” she said.

On Wednesday, Civitas Recruiting and Black Lives Matter Restoration Polk gathered information to recruit workers for future projects through the Work Opportunity Tax Credit program.

“Nothing’s gonna be fixed overnight or taken care of. I think we just need to all strive together, make positive steps. That’s all you can do,” Jones said.

To sign up for the program click here.

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How DIY Debt Relief is Simplifying The Road to Financial Freedom

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Los Angeles, California, Dec. 02, 2020 (GLOBE NEWSWIRE) — “Debt” is an anxiety-inducing topic for most Americans. According to financial experts, about 80% of Americans have some form of consumer debt and are $38,000 in debt, excluding mortgage debt. Unfortunately, financial literacy isn’t a topic that’s extensively covered in schools. As a result, many Americans lack valuable knowledge on personal finance topics — including how credit cards and loans actually work, or how to get out of debt quickly should they experience financial hardship. When times are tough, the concept of “free” money is very appealing and overrides reservations about amassing large amounts of consumer debt.

While consumers have numerous debt-relief options — ranging from consumer credit counselling to debt settlement to bankruptcy — the actual road to recovery is fraught with numerous hazards that include repayment terms with unaffordable monthly payments, repayment terms that take too long, exorbitant fees, and false promises.

With over a decade of experience in the credit and finance industries, these are problems the founders of DIY Debt Relief understand all too well. Debt relief — specifically settling delinquent accounts with creditors and collectors — cost consumers more time and money than most can afford. Compounding the problem are unscrupulous service providers that make promises they can’t keep — charging too much for the service they provide and taking too long to provide said relief. It was with these issues in mind that DIY Debt Relief was created. 

DIY Debt Relief is a web-based company that provides educational videos and supporting materials to offer a “do it yourself” alternative for distressed consumers. By eliminating the need for a third-party service provider, consumers can avoid the prohibitive fees they charge — which in turn reduces the amount of time needed to settle accounts, pay off the agreed upon balances, and become debt-free. Additionally, even creditors and collectors who often refuse to work with third-party service providers are all too eager to work with consumers directly.

 The content, tools and resources DIY Debt Relief provide are designed to help consumers assess, evaluate, and improve their financial situation. The information is based on United States federal laws and regulations which govern the actions of creditors and debt collectors, which means they can be accessed and utilized in all 50 states. With these assets in hand, consumers can create a plan of action to get their delinquent, unsecured debt paid off as quickly and as affordably as possible. And with the belief that credit repair is the next logical step after the debt settlement and repayment process is completed, DIY Debt Relief provides additional resources and information teaching consumers how to quickly and correctly rebuild their credit profiles and FICO scores. 

The DIY Debt Relief process is easy to follow, gives the consumer control, is less expensive to implement, takes less time to complete, and can provide better results. Rather than relying on a third-party to entrust your financial future to, consumers now have the option of taking the initiative and doing the necessary work to get themselves to the debt-free future they deserve. With the goal of taking DIY Debt Relief internationally, the eventual next step is to make the videos in other languages. For right now, DIY Debt Relief’s videos educate on debt relief only in the United States — but its possibilities are endless, its effect promising, and its only trajectory from here is up.  

DIY Debt Relief IG: @diydebtrelief   www.diydebtrelief.com

Media Contact: support@diydebtrelief.com

This news has been published for the above source. DIY Debt Relief [ID=15547]

Disclaimer: The pr is provided “as is”, without warranty of any kind, express or implied: The content publisher provides the information without warranty of any kind. We also do not accept any responsibility or liability for the legal facts, content accuracy, photos, videos. if you have any complaints or copyright issues related to this article, kindly contact the provider above.  

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How DIY Debt Relief is Simplifying The Road to Financial Freedom | 2020-12-02 | Press Releases

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Los Angeles, California, Dec. 02, 2020 (GLOBE NEWSWIRE) — “Debt” is an anxiety-inducing topic for most Americans. According to financial experts, about 80% of Americans have some form of consumer debt and are $38,000 in debt, excluding mortgage debt. Unfortunately, financial literacy isn’t a topic that’s extensively covered in schools. As a result, many Americans lack valuable knowledge on personal finance topics — including how credit cards and loans actually work, or how to get out of debt quickly should they experience financial hardship. When times are tough, the concept of “free” money is very appealing and overrides reservations about amassing large amounts of consumer debt.

While consumers have numerous debt-relief options — ranging from consumer credit counselling to debt settlement to bankruptcy — the actual road to recovery is fraught with numerous hazards that include repayment terms with unaffordable monthly payments, repayment terms that take too long, exorbitant fees, and false promises.

With over a decade of experience in the credit and finance industries, these are problems the founders of DIY Debt Relief understand all too well. Debt relief — specifically settling delinquent accounts with creditors and collectors — cost consumers more time and money than most can afford. Compounding the problem are unscrupulous service providers that make promises they can’t keep — charging too much for the service they provide and taking too long to provide said relief. It was with these issues in mind that DIY Debt Relief was created.

DIY Debt Relief is a web-based company that provides educational videos and supporting materials to offer a “do it yourself” alternative for distressed consumers. By eliminating the need for a third-party service provider, consumers can avoid the prohibitive fees they charge — which in turn reduces the amount of time needed to settle accounts, pay off the agreed upon balances, and become debt-free. Additionally, even creditors and collectors who often refuse to work with third-party service providers are all too eager to work with consumers directly.

The content, tools and resources DIY Debt Relief provide are designed to help consumers assess, evaluate, and improve their financial situation. The information is based on United States federal laws and regulations which govern the actions of creditors and debt collectors, which means they can be accessed and utilized in all 50 states. With these assets in hand, consumers can create a plan of action to get their delinquent, unsecured debt paid off as quickly and as affordably as possible. And with the belief that credit repair is the next logical step after the debt settlement and repayment process is completed, DIY Debt Relief provides additional resources and information teaching consumers how to quickly and correctly rebuild their credit profiles and FICO scores.

The DIY Debt Relief process is easy to follow, gives the consumer control, is less expensive to implement, takes less time to complete, and can provide better results. Rather than relying on a third-party to entrust your financial future to, consumers now have the option of taking the initiative and doing the necessary work to get themselves to the debt-free future they deserve. With the goal of taking DIY Debt Relief internationally, the eventual next step is to make the videos in other languages. For right now, DIY Debt Relief’s videos educate on debt relief only in the United States — but its possibilities are endless, its effect promising, and its only trajectory from here is up.

DIY Debt Relief IG: @diydebtrelief www.diydebtrelief.com

Media Contact: support@diydebtrelief.com

This news has been published for the above source. DIY Debt Relief [ID=15547]

Disclaimer: The pr is provided “as is”, without warranty of any kind, express or implied: The content publisher provides the information without warranty of any kind. We also do not accept any responsibility or liability for the legal facts, content accuracy, photos, videos. if you have any complaints or copyright issues related to this article, kindly contact the provider above.


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