013: How the Economic Stimulus Will Affect You

In this episode, Luis talks about ways to navigate during not so favorable economic times. Luis also provides a highlight of the CARES ACT and how it affects individuals and small businesses. Recent stock market volatility mainly due to the Coronavirus has caused a lot of uncertainty, however, there are things you can do to stay focused on your goals and not let the negative news affect you. Luis came to the U.S. at age 11 from the Dominican Republic. Growing up in New York City, he noticed the lack of financial literacy in his community and was inspired by his parents to work hard and pursue an education. He founded Build a Better Financial Future LLC and is the host of the On My Way to Wealth podcast. Luis was named one of InvestmentNews 40 Under 40 in 2019 and Financial Advisor Magazine’s 10 Young Advisors to Watch. From participating as an FPA NexGen Ambassador to speaking at the CFP Board’s Diversity Summit, Luis uses his platform to help spread financial literacy as well as encourage younger and diverse planners to join and thrive in the industry.

Notes:

In this episode, you’ll learn about the following:

Who qualifies for stimulus payments & who does not Benefits included in the stimulus package for individuals Benefits included in the stimulus package for small businesses Things you can do if your finances were affected by COVID-19 Opportunities you can take advantage of in the current economic environment

Resources:

3 Fundamental “Money Moves” to Make Before Turning 45 IRS Change of Address Form 8822 IRS Coronavirus Information Page USA.GOV Coronavirus Information Page USA.GOV Coronavirus Information Page (En Español) Nevada Unemployment Benefits Kiplinger Stimulus Payment Calculator