The government will soon be sending out stimulus checks to people. What should you do with it? Here are a few things to consider:
- Leave it at your bank to cover short-term expenses. The extent of this shutdown has likely surprised people who thought their job was secure. Make sure you have enough cash to get you through the next six months (that’s a good idea any time). If you have that covered…
- Make a Roth IRA contribution (watch out for income limits) and invest it in the stock market. Stocks are on sale. A few years from now we are likely to look back at today’s prices and be glad we bought.
- Consider spending some on small businesses that you love. We’re all in this together. I’d like my local brewery and favorite restaurants to be around when everyone goes back to work. Wouldn’t you?
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About the Author: John O’Connor
John has more than ten years experience as an Investment Advisor. He focuses on devising and maintaining portfolios that meet individuals’ needs, investment research, and investment strategy. John has been recognized as a “FIVE STAR wealth manager” by Twin Cities Business Magazine 2016-2020.