We officially got our $2400 stimulus check! As we are a married couple that’s under the $150,000 limit ($75,000 for single filers), we were eligible for this benefit. The payments go up to $99,000 for individual filers and $198,000 for joint filers with no children. This stimulus package was part of the CARES ACT. If you have children or owe any money, it may work differently for you, especially for those with young kids that may receive an additional $500 per eligible child.
Although we are very happy to receive some government assistance, we wanted to share what we are going to do with our money. We already invest in the stock market and plan to use this money to invest more of it to ensure we have a better future. As in our previous investing video, we want to ensure we keep growing and diversifying our portfolio. Remember, this is NOT free money. This is a part of the taxes that you have paid into the system and are getting back to help your family get through a tough time.
- Check your eligibility here:
- You will need: social security number, 2018 or 2019 - adjusted gross income, how much you got back (if any), you name and address
Please don’t believe any of the lies on social media or wherever else you may have heard less than factual information. There is no other fast way to get your stimulus checks except to go on the IRS website and fill out your direct deposit information. That’s it. Nobody else is going to give you your money faster than the government. This is an economic stimulus check, but only 1 approved check has gone out so far. The second stimulus check is still on hold and must pass the House of Representatives, then the Senate and finally must be signed into law by the President. Considering that the Trump Administration hasn’t been overly excited to help the average person, it’s likely to take a bit of time to get through the second time, with a different set of stipulations.
Why you may not have gotten your stimulus check yet and who’s not eligible for the stimulus check. Here are 8 reasons why you didn't get yours yet
- You didn't get a federal tax refund in 2018 or 2019
- Your refund went to an old bank account
- Your refund went to a temporary account set up by a tax preparer
- You filed a paper return in 2019
- You aren't normally required to file a tax return
- You didn’t file taxes
- You made too much money
- You do not qualify due to your immigration status or you don’t live in the US and aren’t a citizen
There is a proposed $2000/month as per the Emergency Money for the People Act, which would provide the $2000/month to Americans affected by the pandemic. Although it’s still in the works, we will see how it goes. Stay tuned for more updates on the newly proposed set of US legislation assistance for the country.
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