$1200 Stimulus Check

[Average Investor]

What is your plan with your stimulus check?

Here are some options I think would be wise:

1. Pay down high interest debts

2. Start a rainy day fund

3. Invest into self help material or your own business! 

4. Invest into the stock market (I would suggest a good low cost index fund like the S&P 500 through vanguard or similar low fee) 

The S&P 500 averages about 7% a year. You can calculate potential long term earnings here http://www.moneychimp.com/calculator/compound_interest_calculator.htm

I suggest you do some research on it if you are unfamiliar, but this is one of the less risky index funds that out performs many investors. 

Also, if you start a roth ira you can have no tax on the gains if you wait until you are 59 1/2. 

Although, keep any mind any investment is risky. 

 

I am going to use mine to have some extra padding into my business and personal account. Then the rest is going to go into the S&P 500. I have no debts and have been investing plenty into myself and my business for quite some time. I see the priority of the list above as 1 being the greatest, but it depends on the situation. Rainy day funds are very helpful as you never expect to need it. 

I'd love yo hear your plan and if this will help you make a decision! 

[Worldclassbullshit]

Ha I was just going to start a topic about how a begginer can invest some of it and the best way to do so. I would love to invest some but I dont know jack about stocks or anything.  

[Average Investor]

@Worldclassbullshit I'm not an expert on stocks myself. But I recommend researching Jack Bogle And Warren Buffet. I also recommend reading unshakeable by Tony Robbins as a start. 

A lot of the larger index funds perform really well over time. I would start in those areas. I think a lot of the principles you can learn from the above mentioned will really help too. But I would not just follow someone to the T.  

[Emerald]

56 minutes ago, d0ornokey said:

thanks for this !!!!!! is this check guaranteed or j ust speculation?

It's guaranteed. But make sure you've filed your taxes from last year with the IRS. Turbotax is a good service for that, as it's free for most people's situations. Otherwise, they won't be able to send it to you.

Also, ideally do it direct deposit to your bank account... otherwise, instead of getting it in a week or so, you'll get in months and months in the mail.

 

 

 

[UDT]

Invest! needs to go to something guys, otherwise youll get eaten by the inflation

[Chumbimba]

@Average Investor is robinhood a good place to start small investments. My whole family wants to get started. 

[TrynaBeTurquoise]

For most people this $1,200 check is peanuts to their normal expenses piling up. 

[Average Investor]

@d0ornokey Yes, it is guaranteed. Check online for the details for it. The person would need to have filed taxes in 2018 or 2019. Should be able file $1 if that is the case though and receive it. But please do the research on that. 

@TrynaBeTurquoise Yeah, $1,200 does not go too far in general unfortunately. This list would assume the person has their basic needs meet. 

@Chumbimba Depends what you are doing I suppose. I would prefer vanguard by far because of the fees. I would research some platforms though. But from my research Vanguard is one of the best. 

@UDT Yeah, will be interesting to see how things go after this is all done. 

 

[Emerald]

On 4/8/2020 at 5:59 PM, d0ornokey said:

@Emerald awesome... my sister has never had a job, will she be eligible as well? 

She may or may not be. I think the IRS has to have her information on file.

 

[Average Investor]

@Keyhole Yeah, vet bills can get expensive fast! We found a vet that is about an hour drive from here plus it is at a beach. We go there and it is like 1/3 or less than the cost of the ones locally. Get to spend a day at the beach and save some money! 

[Nahm]

@Average Investor Great thread idea . 

 

Some ideas that came to mind...for those that haven’t, take Leo’s life purpose course, go try a yoga class, reiki, energy work, a retreat, etc. Can’t go wrong investing in yourself. Potentially ife changing stuff! 

[Average Investor]

@Nahm Yeah, LPC was honestly some of the best $250 I have spent in my life. It all depends on the user though. I am not even done either. But going way over the extra mile at one of the assignments. 

I would like to invest in a retreat myself. Really trying to work on my mediation though and get it to a level where I could actually handle that. Small business sucks quite a bit of money from me too, so have to juggle things a bit. 

What would you invest in? If you are getting it or not. Just if you had $1,200 extra come in. 

[Nahm]

@Average Investor Marketing when this book is done.  

 

[Average Investor]

@Nahm You have your own book coming out?! How exciting! I'll be on the lookout for it. Consider doing digital too lol. I have been loving this kindle I got recently. 

[Nahm]

@Average Investor For sure. Thanks! ??

[Average Investor]

@Keyhole German shepard, not sure on the other dog, and 3 cats. How about you? 

[DrewNows]

thanks for this! 

@Average Investor  @Keyhole check this out: http://www.nomorevetbills.com/e-book/ also theres a great fb group that goes with it "healing diet for dogs and cats" 

Cheers 

 

[Average Investor]

@DrewNows No problem! 

Do you have any pets following this? I know the dog food is pure trash, but is not something I have had control over. I would like to give something a shot though to make my dog healthier. 

[DrewNows]

11 minutes ago, Average Investor said:

Do you have any pets following this? I know the dog food is pure trash, but is not something I have had control over. I would like to give something a shot though to make my dog healthier. 

Honestly I joined the group because I’ve worked with dogs for over 3 years, mostly sitting and walking them but also because it supports the research I’ve done relating to my own health and link with nutrition/diet. You could join the group and get more information, they have lots of testimonials and the author, and others are there, of course, readily answering questions. i haven’t been in the group for too long but long enough to be impressed and to know I will purchase the e-book to educate dog owners. 

[Average Investor]

@DrewNows Fair enough. I am completely off of facebook for now, but I will resume it at some point. I will dig into some research on the topic in general. Thanks for calling my attention to it!