“Stay at Home” orders are ongoing for many of us. One day rolls into the next. Impact is far and wide from COVID-19.
The courage, dedication and resiliency of those on the front lines is remarkable. For them, let’s express profound appreciation for the strength they display and contribute to their efforts by adapting to physical distancing.
This week the “CARES Act” was passed. Consumer Reports details what’s what in an article published 27 March, 2020 by Penelope Wang entitled, “Coronavirus Financial Aid Bill: What’s in It for Consumers” https://www.consumerreports.org/federal-laws-regulations/coronavirus-financial-aid-cares-act/ The artircle provides details concerning the following topics:
- Direct Payments – one time payments of up to $1,200 for individuals ($2,400 for couples) and $500 for each child 16 and younger. The maximum a family can receive is $7,500
- Unemployement Benefits – Under the new law, the federal government will increase your state unemployment benefits by $600 per week for four months. Benefits will also be extended by an additional 13 weeks. Gig workers and freelancers, who previously were not able to claim unemployment will also be covered
- Student Loans – Borrowers will not have to make any payments for six months (through Sept. 30, 2020) on federal student loans, though that money will have to be paid later. Interest during the six-month period will be waived entirely
- Retirement Plans – The law loosens the limits on taking money out of your retirement plan in an emergency, similar to previous disaster relief measures
The New York Times published an article 28 March, 2020 by By Tara Siegel Bernard and Ron Lieber titled “F.A.Q. on Stimulus Checks, Unemployment and the Coronavirus Plan” providing a helpful Q&A review. https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html
Check out the US Chamber of Commerce article, “Coronavirus Aid, Relief, and Economic Security Act: What Small Businesses Need to Know ” to learn about provisions of the impacting businesses: https://www.uschamber.com/co/start/strategy/cares-act-small-business-guide
As a reminder, the CDC has different links to stay updated on current information: https://www.cdc.gov/coronavirus/2019-nCoV/index.html and a symptom checker: https://www.cdc.gov/coronavirus/2019-ncov/symptoms-testing/index.html#cdc-chat-bot-open
Living in these times, sometimes the best help we can give to our parents, grandparents, kids, ourselves and our employees is the power of information. Contact me for pricing and to schedule an online Zoom workshop for groups of 10 or more from the comfort of our homes.
Reach out via Email or check out the website @ The Living Planner for additional information. Stay well.
We’re all in this together. Be well.
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