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View Poll Results: Stimulus- Sve it or spend it?
I'll be saving mine! 58 27.62%
I'll be spending it 52 24.76%
Maybe a bit of both 31 14.76%
I plan to give it away 69 32.86%
Voters: 210. You may not vote on this poll

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Old 03-22-2020, 07:34 AM   #21
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Good sized Roth conversions in both 2018 and 2019 will certainly reduce or eliminate our stimulus. Whoda thunk back then?
Yeah, I'd like a rebate on the "extra" taxes I paid when doing the roth conversion of all those stocks that are now worth 30% less - should be 30% rebate
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Old 03-22-2020, 07:39 AM   #22
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I plan to use it to directly help someone I know who is struggling a lot right now.
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Old 03-22-2020, 07:44 AM   #23
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Maybe Iíll go on a cruise or buy more cruise stocks.
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Old 03-22-2020, 07:46 AM   #24
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Anyone know if it will be taxable income?
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Old 03-22-2020, 07:46 AM   #25
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We keep our MAGI very low to get good ACA Rates, if current powers that be have their way us poor folk will be lucky to receive $600 each and that will not do any measurable good. If it changes and we get $1200 each, that is my new OLED TV.
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Old 03-22-2020, 07:47 AM   #26
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Spend it. Our local economies are hurting, several of our favorite places could use big tips.

Probably use some to help the universe back to balance; maybe I'll buy an extra toilet for all that paper.
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Old 03-22-2020, 08:02 AM   #27
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Eventually spend it when we are released from our home.
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Old 03-22-2020, 08:04 AM   #28
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Into the Emergency Fund.
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Old 03-22-2020, 08:04 AM   #29
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DW and I were discussing this yesterday. Our plan is to spend the money at local small businesses and restaurants if we can.
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Old 03-22-2020, 08:17 AM   #30
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Put me on the spending train as well. Being based on 2018, good thing DW and I retired in 2017.
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Old 03-22-2020, 08:23 AM   #31
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I plan to use the stimulus to buy puts on the stock market

Nah just kidding...we will put it in the pool of money we are using to build a house. I can't figure out if we will get anything though...in 2018 we had a big income from my Endocyte stock trading.
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Old 03-22-2020, 08:27 AM   #32
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From what I've read, I don't think I'll qualify... The only special government programs I seem to qualify for are higher taxes, IRMAA, etc.
But if I got it, I would probably give it to the DD, if I didn't have to pay taxes on it.
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Old 03-22-2020, 08:30 AM   #33
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I don’t know any of the rules but I can’t imagine I’d get anything. If I did, I’d give it away. Maybe drop one of those huge tips on an unsuspecting waitress, or find a medical worker that is (hopefully was - as in its over soon) on the front lines.
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Old 03-22-2020, 08:33 AM   #34
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I Maybe drop one of those huge tips on an unsuspecting waitress, or find a medical worker that is (hopefully was - as in its over soon) on the front lines.
Now that's a dang good idea.... One of the best I've read on this forum!
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Old 03-22-2020, 08:36 AM   #35
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I donít know any of the rules but I canít imagine Iíd get anything. If I did, Iíd give it away. Maybe drop one of those huge tips on an unsuspecting waitress, or find a medical worker that is (hopefully was - as in its over soon) on the front lines.
Hey, what are you doing eating in a restaurant! Social distancing!
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Old 03-22-2020, 08:39 AM   #36
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Hey, what are you doing eating in a restaurant! Social distancing!
Good point. I was hoping this would be over by the time a check comes. I guess one could still tip the carry out person though and, no better way to find a medical worker on the front lines than to give it to the person taking the swab for your COVID test.
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Old 03-22-2020, 08:40 AM   #37
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We discussed this, if we get any we will add it to the money we give to friends who are out of work. Some peoples are in real trouble financially.
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Old 03-22-2020, 08:43 AM   #38
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Money is fungible, and having a check deposited, the idea of spend vs save makes little sense to me, but technically, it would be 'spend'. But will reduce my next pull from savings. The influx, if any, will have zero impact on my spending, so if the question was worded to tease out that detail, I'd say 'save'.
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Old 03-22-2020, 08:44 AM   #39
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We'll send ours back to the Treasury...

We did our first "large" Roth conversion in 2019 (top of 22% bracket). So if it's based on 2018, we'll probably get a decent-sized check based on what I've read. If so, we'll use it to help pay the large tax bill due with our 2019 return in July.

All of our 2019 quarterly estimated payments were based on 2018 actual tax divided by 4 (safe harbor). So we owe a lot due to the conversion. And I'm not looking forward to selling stock any time soon. We have two pensions, dividends, and some rental income that cover basic, routine living expenses.

I answered "save." In effect, the check will increase our savings because we won't have to sell as much to cover our tax liability. We have no intention of spending more in this environment. We'll help those around us in whatever way we can as this crisis evolves.
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Old 03-22-2020, 08:47 AM   #40
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