With any luck, Congress will soon pass a massive $1.9 trillion relief bill that will see most Americans getting some $1,400 directly. This would be the third of such direct payments, after a $1,200 payment last year and a $600 payment in January.
This is likely arriving for many people even as they’re still getting or waiting on their tax returns. As such, many people are wondering what they should do with their stimulus money. Assuming they arrive soon, we recommend investing the money, if you can.
If you have outstanding debt, it will greatly help your financial prospects to invest the money into that debt. Otherwise, you could use it to buy stocks, investing your money for the future. If you’re not up for investing on the stock market, you could simply stash the money in a retirement savings account, allowing it to grow in interest and make money for you!