Make the Most of Your Next Stimulus Check
@kerenzulli
“In its own way, India has set an example.”
UNDER PRESIDENT JOE BIDEN’S PROPOSED $1.9 trillion coronavirus relief plan, most Americans would receive a third round of stimulus payments—this time a more generous $1,400 per person and perhaps as much as $5,600 for a family of four and $7,000 for a family of five. Given the sizeable amounts involved, the challenge, if the measure passes, will be to make sure you use the money in a way that delivers the biggest boost to your family’s financial security.
“The stimulus funds should be viewed as a way to lessen one’s financial stress, not as a windfall,” says financial planner Nick Hofer, president of Boston Family Advisors.
The emergency pandemic relief package, dubbed the American Rescue Plan, still faces significant hurdles on the path to becoming law. Republican lawmakers have countered with a smaller, $618 billion proposal that would give $1,000 stimulus checks to far fewer Americans. But given the Senate’s current even split between GOP and Democratic members, with some procedural maneuvering, a slim majority might be enough to see Biden’s plan through. Either way, it could be spring before Americans see any new stimulus money as the impeachment trial of former President Donald Trump, along
