What Individuals Should Know About the Stimulus Package

There has certainly been a lot of talk over the past few days about just who gets what after the passage and the signing of coronavirus economic relief plan last week. Many are now expecting a check from the government, while many others are wondering if they will get one. That’s been one of the bigger headlines, because hey, free money at a time when many people could really use it.

Even then, though, it can be a little confusing about just how much one will receive. It has also become so big that a lot of other benefits have received less notice. These include things like unemployment benefits, some student loan help, changes in how you can get money out of a retirement account, and a potential added tax deduction for charitable donations.

There is so much information that it can feel overwhelming, but pushing through it is worth it because when used correctly it can mean that many affected during these economic struggles can end up in similar (or even better) positions than they were before the crisis. This will take a little patience and a few difficult weeks, but that just means it is even more important to utilize the help that is being offered.

Just how this works can be different depending on your personal situation. The New York Times has a great Q&A about the stimulus package located here that answers many questions of different types.

Here is to hoping that you and those close to you are staying safe and well.