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Jan 7, 2021, 01:12 AM 88 read

Daily News 📰#40 Stimulus🧐

● Some stimulus check recipients are considering investing their money or treating themselves after a tough 2020. Link in bio for more.⠀ ⠀ ● Stimulus checks will provide a financial lifeline to millions of Americans, as they reel from the economic devastation brought on by the Covid-19 pandemic.⠀ ⠀ ● But some recipients have kept their jobs and income, and are able to cover critical monthly expenses such as rent, utility bills and debt payments. For them, the $600 checks represent an opportunity to boost their savings, spend on non-essential goods or buy stocks. On TikTok, where young investors have turned for investment advice, videos on how to turn your “stimmy” into thousands of dollars are making the rounds.⠀ ⠀ ● Albert Lewis III, a 19-year-old Iowa State University student who grew up in Chicago, has already decided where the money is going: into his Robinhood investment account.⠀ ⠀ ● “The $600 isn’t needed at this moment,” Lewis said. “I’m investing it hopefully to turn it into something more than that by the time I’ll need it. $600 in a year isn’t going to turn into $10,000, but if I invest it now, in 40 years it’s going to be worth way more.”⠀ ⠀ ● He says most of his essential expenses are already covered. Most of Lewis’s college tuition is paid for by scholarships. He lives at home with his parents, meaning he doesn’t have to worry about rent at the moment. Small side jobs allow him to cover everyday costs, like those for food and his phone. He hasn’t decided where he’s investing his $600 yet, but is considering “some company that’s not going anywhere,” like Apple Inc. or Facebook Inc.⠀ ⠀ ● Lewis’s plans illustrate how the fallout from the coronavirus crisis is dividing the U.S. economy. Claims for unemployment benefits averaged 1.45 million a week last year, compared with about 220,000 in 2019, with tens of thousands of people struggling for food, shelter and income. At the same time, the percentage of disposable income that households manage to stash away has jumped, home owners are seeing property prices increase and the stock market is soaring. The annual compensation rate for employees in November neared pre-pandemic levels. Credit:

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Comment 1

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    600 fillers stim is bad