Do you remember your stimulus check?

Just think...you had to claim this exact funds as income. Did you allow the check to WORK for you!

In 2008, President Bush disbursed an economic stimulus check to do just as Congress and he wanted…to stimulate the economy. The main purpose of the funds was to get the economy out of a spiral recession with hopes of migrating away from potential depression. This wasn’t the first time an economic stimulus check was disbursed. As I recall everyone who qualified received one in 2001. The goal was achieved and most individuals put the funds from the check back into the economy just as the administration calculated. Depression, sadness, fear, joy, happiness, and excitement are feelings that are linked to finances. I believe once we obtain and understand the education of finance along with taking care of oneself our dollars will go much further than expected. Let’s take an economic stimulus check of $1200 for a married couple. The monies can be spent in numerous ways such as vacationing, purchase of a leather sofa, or a well deserved shopping spree. Too many people young, old, single, married, with or without children are spending money they don’t have on frivolous items. Once we understand the process of emotional spending that same $1200 can be invested and work much harder for the same married couple instead of having nothing to show for a boost in income that is unaccountable.

Ex: Married Couple 35 yrs of age
Retirement age: 65 yrs old
Years spend in retirement: 20 yrs
Money set aside for retirement: $1200
Aggressive % for investing: 11% *
Moderate % during retirement: 7% *

The couple would need $1,003,585 by the time of retirement. The $1200 would accumulate to $27,471 in 30years if invested. What a difference…

*Hypothetical interest and calculation


Be inspired,
Bahiyah Shabazz