Economic uncertainty is at an all-time high, with investors dumping stocks, workers being laid off, and local businesses closing their doors due to the coronavirus crisis. It has left many Americans wondering what they should do with their money right now. Here are some expert tips to weather this financial storm.
If you have retirement accounts like a 401(k), 403b, or an IRA, don't touch them. If you're still decades away from retirement, you will likely recoup those losses over time.
In case you are keeping track:
5 ways to learn about money online while you're stuck at home - Business Insider
"Your grandparents were called to war. You're being called to sit on your couch. You can do this." And so went one of the many coronavirus memes in my Instagram feed. These messages can help us laugh instead of cry, and there can be truth to them.
You'll find 10 self-paced modules that cover topics ranging from when you'll be ready to retire to what to know about options for retirement if you're self-employed. And if you're avoiding new expenses, this course is completely free.
Additional money headed to Georgia food stamp recipients amid virus
Georgia’s 1 million food stamp recipients will get additional money this month as state officials work to ensure all have access to food during the growing coronavirus pandemic.
Food stamp recipients will receive the maximum allowed under federal guidelines in March and April.
Under the guidelines announced by Gov. Brian Kemp on Monday, a senior citizen who typically receives about $15 in monthly benefits through the Supplemental Nutrition Assistance Program, also known as SNAP, will qualify for the maximum $194 allowed to be given to a household of one.
Stimulus Checks: What Consumers Should Consider Doing With The Money | Bankrate
Many Americans might be getting some type of financial relief from the government in the coming months.
Right now, there are more questions than answers over the central component of a massive relief package; however, these stimulus checks could range up to $1,200 for individuals and up to $2,400 per couple. The money could help the individuals who have lost income since the novel coronavirus caused many businesses to temporarily shutter.
While discussions on who gets what are ongoing, plan on stretching those dollars during these uncertain economic times.
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Mnuchin: Economy could stabilize if money injected now
Treasury Secretary Steven Mnuchin reaffirmed his belief Sunday that the U.S. isn't facing a "financial crisis that's going to go on for years" if the government acts swiftly.
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He said he hopes the bill gets passed Monday by Congress and that the economy could start heading back to its pre-virus levels in a 10- to 12-week period if it does, but there's no time to waste. "We need to get the money into the economy now," he said . "If we do that, we think we can stabilize the economy. I think the president has every expectation that this is going to look a lot better four or eight weeks from now." Tim O'Donnell
On The Money: Trump looks at easing coronavirus restrictions | Health, economic advisers divided
Happy Monday and welcome back to On The Money . I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.
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"Our country wasn't built to be shut down," Trump continued. "This is not a country that was built for this."
The shift: The remarks came one week after Trump announced social distancing recommendations for the American public and represented a strong signal the president would work to loosen those guidelines for certain areas of the United States in the near future.
Money Moves a Millionaire Made in Response to the Coronavirus Pandemic
In 2010, Grant Sabatier joined the FIRE (financial independence, retire early) movement, which embraces the concept of saving the majority of your income in your 20s or 30s so you can retire in your 30s or 40s.
Here are three changes he's made with his money in response to the pandemic and its crushing economic impact.
Most financial advisors say to leave your investments alone in times of uncertainty and when the market is volatile.
Happening on Twitter
My #coronavirus relief plan puts families, consumers, & workers first. My plan recognizes that so many people in th… https://t.co/BXQ1tMRGok RepMaxineWaters (from Los Angeles/Washington, D.C.) Sun Mar 22 21:23:01 +0000 2020
NEW: Trump began talking privately late last week about reopening the nation, against the advice of health professi… https://t.co/1kJ89LSmDY business (from New York and the World) Mon Mar 23 13:11:41 +0000 2020
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