View Poll Results: Stimulus- Sve it or spend it?
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I'll be saving mine!
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58 |
27.62% |
I'll be spending it
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52 |
24.76% |
Maybe a bit of both
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31 |
14.76% |
I plan to give it away
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69 |
32.86% |
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03-22-2020, 07:34 AM
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#21
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,008
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Quote:
Originally Posted by CRLLS
Good sized Roth conversions in both 2018 and 2019 will certainly reduce or eliminate our stimulus. Whoda thunk back then?
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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
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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03-22-2020, 07:39 AM
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#22
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2007
Posts: 13,202
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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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03-22-2020, 07:44 AM
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#23
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Thinks s/he gets paid by the post
Join Date: Aug 2013
Posts: 1,660
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Maybe I’ll go on a cruise or buy more cruise stocks.
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03-22-2020, 07:46 AM
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#24
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Confused about dryer sheets
Join Date: Aug 2018
Location: Charleston
Posts: 3
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Anyone know if it will be taxable income?
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03-22-2020, 07:46 AM
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#25
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2003
Location: Florida's First Coast
Posts: 7,662
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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.
__________________
"Never Argue With a Fool, Onlookers May Not Be Able To Tell the Difference." - Mark Twain
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03-22-2020, 07:47 AM
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#26
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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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.[emoji6]
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03-22-2020, 08:02 AM
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#27
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,983
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Eventually spend it when we are released from our home.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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03-22-2020, 08:04 AM
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#28
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,226
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Into the Emergency Fund.
__________________
TGIM
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03-22-2020, 08:04 AM
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#29
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Full time employment: Posting here.
Join Date: May 2011
Posts: 770
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Quote:
Originally Posted by REWahoo
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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+1
__________________
you interpret daily life according to your ideas of what is possible or not possible - Seth Speaks
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03-22-2020, 08:17 AM
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#30
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 4,353
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Put me on the spending train as well. Being based on 2018, good thing DW and I retired in 2017.
__________________
The problem isn't artificial intelligence, it's natural stupidity.
You can't spend yourself to prosperity.
Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
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03-22-2020, 08:23 AM
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#31
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,005
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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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03-22-2020, 08:27 AM
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#32
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,863
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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.
__________________
20's "something" mind, trapped in a 70's "something" body
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03-22-2020, 08:30 AM
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#33
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Moderator
Join Date: Nov 2014
Posts: 9,100
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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.
__________________
Every day when I open my eyes now it feels like a Saturday - David Gray
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03-22-2020, 08:33 AM
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#34
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,863
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Quote:
Originally Posted by Jerry1
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.
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Now that's a dang good idea.... One of the best I've read on this forum!
__________________
20's "something" mind, trapped in a 70's "something" body
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03-22-2020, 08:36 AM
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#35
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2012
Location: Seattle
Posts: 6,005
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Quote:
Originally Posted by Jerry1
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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Hey, what are you doing eating in a restaurant! Social distancing!
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03-22-2020, 08:39 AM
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#36
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Moderator
Join Date: Nov 2014
Posts: 9,100
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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.
__________________
Every day when I open my eyes now it feels like a Saturday - David Gray
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03-22-2020, 08:40 AM
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#37
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: Portland
Posts: 2,038
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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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03-22-2020, 08:43 AM
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#38
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Moderator
Join Date: Oct 2010
Posts: 10,653
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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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03-22-2020, 08:44 AM
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#39
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Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Texas
Posts: 3,024
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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.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
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03-22-2020, 08:47 AM
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#40
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gone traveling
Join Date: Sep 2018
Location: Washington, DC
Posts: 575
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Won't get one
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