quote:

Originally posted by PASig:
What the .gov really want everyone to do is go out and BUY MORE STUFF, but that’s not going to happen much I suspect.

But this group of people here are more financially responsible than the typical American. I would be curious to see the non-grocery retail sales over the next couple of weeks after the stimulus deposits hit.

Wonder how many people go out to buy the newest gym shoes, a PS5, etc.

quote:

Originally posted by HuskySig:
Enjoy spending your kids' and grandkids' paychecks!

Lessee here... $1400 in index funds in my investment account, over the next 50 years, with the average inflation-adjusted long-term return of the market at ~7% = ~$41,239

I think they're going to be happy with that.

(Not that I have any kids, mind you.)

quote:

Originally posted by RogueJSK:

quote:

Originally posted by HuskySig:
Enjoy spending your kids' and grandkids' paychecks!

Lessee here... $1400 in index funds in my investment account, over the next 50 years, with the average inflation-adjusted long-term return of the market at ~7% = ~$41,239

I think they're going to be happy with that.

(Not that I have any kids, mind you.)

Rather optimistic that you're going to see positive market growth over the next 50 years. Probably overall positive, but there will be dips and drops.

quote:

Originally posted by HuskySig:
Rather optimistic that you're going to see positive market growth over the next 50 years. Probably overall positive, but there will be dips and drops.

That's why I used the average rate.

+7% is the historical, inflation-adjusted average rate of return since the 1920s, including all the dips, drops, and depressions.

Some years are as high as +47%, and some years are as low as -47%. Most are in between, either way. But it has averaged out to +7% over the long run, after adjusting for inflation. (Without factoring in inflation, it's more like +10% on average.)

Saw a very long line outside of Gamestop today, mostly grown men

quote:

Originally posted by RogueJSK:

quote:

Originally posted by HuskySig:
Rather optimistic that you're going to see positive market growth over the next 50 years. Probably overall positive, but there will be dips and drops.

That's why I used the average rate.

+7% is the historical, inflation-adjusted average rate of return since the 1920s, including all the dips, drops, and depressions.

Some years are as high as +47%, and some years are as low as -47%. Most are in between, either way. But it has averaged out to +7% over the long run, after adjusting for inflation. (Without factoring in inflation, it's more like +10% on average.)

The best thing we can do is invest this money in their future. By paying down my mortgage, I'll have more money to invest in the future and leave them quite a nest egg.

$5600 for me.

I bought a couch.

Thanks, kids.

The Stimulus checks are only a SMALL part of the 1.9 Trillion dollar bill. IMHO it is opium for the masses. There is some much money in that bill to advance various social agendas. It is slowly beginning to come out in the media.

Ha! I typed in "status" in google search... guess what suggested question posed up top of the list?

We got ours, and promptly dumped it into the mortgage. (Always write “to principal” on the check).

quote:

Originally posted by MikeinNC:
(Always write “to principal” on the check).

Unless your mortgage company automatically applies all overpayments towards principal, like my current one does.

Whereas the mortgage company for my last house would just hold onto it as a partial payment towards the next month if you didn't specify.

$1000 went to some debt, $400 to rainy day fund. Probably not what they intended, but still to good use.

I spent the first one almost completely on gun stuff.

The second one might have gone to fuel oil.

The third… I was thinking of buying yet another unneeded gun, One that may not be available in the near future. The already inflated price, now inflated by panic, I would never even consider paying. But if I apply the “free money” to it, the gun would only cost me a couple hundred bucks. Plus I’d get some satisfaction from spite spending. What will more than likely happen, just as with my tax return, I end up sending it to the town for property taxes.

quote:

Y'all can thank those of us that didn't get it, for financing the money you did get.

My fed.gov additional tax bill went UP multiple tens of thousands for last year. This pittance is pennies on the dollar in place of my 'voluntary contribution' of a one time 'capital gains'.

I'll be thanking you as soon as accurate determination is made of which portion of this pittance is identified as your contribution.

Just filed 2019 taxes apparently we are getting a check didn't think we would be. It will pay 2020 taxes I guess. Got to delay filing 2020 so we qualify. So nice of them to send me a partial payment for 2020 taxes.

I hand them a giant sack of money, they hand me back a smaller sack of money and a bunch of debt, then I hand that sack of money back to them with another sack of money. Seems super efficient.

Some New Orleans workers quitting their jobs after receiving stimulus checks, employers weigh in

Reginald Rowe Jr. and his wife Natalie own Security Experts and Leaders (SEAL), a security company based out of New Orleans East. In March 2020, their staff has reduced by 20%, and not due to the lack of jobs available.

"We have had employees that have told us because I've received my stimulus check, I'm not coming back to work," says Natalie.

Although SEAL offers competitive wages, health benefits and paid vacation time, many of their workers choose not to return. Natalie says she would rather help them make wise choices with the extra cash.

"Let's help you to buy a home. New Orleans has a great first-time buyers program. Let's use the money to get yourself out of debt...but you continue to work," she says.

The latest data from the Louisiana Workforce Commission indicates there are more jobs available. New claims for the week ending March 20 were at 6,909 - a 4% decrease from the week of March 13. When comparing it to March 2020 - at the start of the pandemic, it's a 90.5% decrease.

Paris Harris, a local marketing agent who hosts local career fairs, tells WDSU other employers have shared similar stories about their employees quitting after stimulus checks were distributed. She encourages workers to not depend on those payments as a means of steady income and to keep good relationships with local companies.

"This is a pandemic, it's not a new way of life," Harris says. "Eventually it's going to stop and you want to leave good impressions on the people that you want to work for, or that you want to work for."

SEAL hopes to soon employ more people while also empowering them to think differently about their futures. Find out more about the company here.

P. Harris Agency is hosting another career fair soon - and looking for several businesses to help prepare the job seekers for success. Learn more here.

ALSO: What should you do with your stimulus check? New Orleans financial expert gives advice.

LINK: https://www.wdsu.com/article/s...rs-weigh-in/35942502

BOY OH BOY , HAVE i GOT QUESTIONS !!!!

Our first stimulus payment came in the mail as a debit card.
second payment came as a check in the mail,( I know cause I got to hold it from the mail box down the driveway to the house, where I signed the back and handed it over).
This third payment showed up in "MY" checking account,,,all $2800 !!
We never gave the govt. our bank info, always got the paper refund check in the mail. always paid any due tax by check.

Bought an HK P30. Might add a Glock 19 too sooner rather than later.

quote:

Our first stimulus payment came in the mail as a debit card.
second payment came as a check in the mail,( I know cause I got to hold it from the mail box down the driveway to the house, where I signed the back and handed it over).
This third payment showed up in "MY" checking account,,,all $2800 !!

I'll take a WAG on your third question that they got your bank routing and account numbers off your checks.

Figured we’d stimulate a little and invest in the future.

Wife needed some more goods for the home gym. So a decent amount of things were ordered from Rogue. All made in the states. The delivery man is going to be pissed!!
I needed a LaRue mount for the LaRue rifle I just bought.
Need some sliders for the Tundra.

Will invest the rest.