Next Stimulus Payment -- WHEN????

[Anonymous]

Severance does not effect length of unemployment checks. But even lump sum can delay it. I got 15 weeks severance lump sum when laid off 2-6. Which means I did not qualify for unemployment till end of May after 15 weeks ended.

Normally not an issue but it caused me to miss most of the $600 dollar bonus.

[Anonymous]

Anonymous wrote:If there is another stimulus payment and/or continued enhanced unemployment you better believe it will be less and go to fewer. Lots of basic jobs are going unfilled because people are doing better on unemployment. Crazy.

Uh, no.

1. In a lot of states, refusing to work if offered without a Dr. note means you're kicked off unemployment.

2. 20 million people newly out of work - 5 million jobs back (maybe) does not equal jobs for all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle of July.

And it needs to fricking hurry up. I don't know how much longer my husband and I can keep helping family. Plus my husband lost his job and there isn't going to be a going back to that. Since we got a small severance his applying for unemployment was for nothing. Apparently $46,000 makes you unqualified for any relief. It's stressful carrying so many burdens. Lots of people are suffering. You just never hear about them.

Your husband got a $46k severance package?

Yes. For 37 years of loyalty. It was supposed to be $67,000 but the govt took their cut. We have a HSA with 14k in it so we're needing that to cover healthcare for a year. I did manage to save $150,000 in the three years since we paid off our house but when your sister is off work for a hip replacement and needs just about everything that entails for a few months, BIL got cut hours and I can't stand the thought of him not having enough food or no phone, son got laid off so we carried them for four months. It couldn't be helped. Another works gig jobs and needed a car plus rent for a while. Husband went to work one morning and came back home with no job. We're both 60 so at the rate we're going money will start evaporating. We won't make it to SS. If we could tap into our IRA without getting tax f'd we could do all this and not worry. We could split the next stimulus again like the first one, help everyone out with at least enough gas and food for a month. Pay one's rent for a month, house note for another.

We're poor millionaires. But it's really not funny. Something will give way soon. Something good I hope.

My husband was one of 750 that lost their job in the company. We are fortunate to have saved what we did when we did. Still, seeing minuses instead of pluses in the bank account stings, NEVER EVER think your job is forever.

Five of our neighbors no longer have jobs. This corona crap has been hell on lots of people.

No offense, but you were not the type of family that the stimulus was intended for. If you're "poor millionnaires" then you are outside the scope of the stimulus.

That said, someone in your family, your husband, your BIL or your son should start working and bringing in additional income for the extended family. There are still many many jobs at Amazon, third party shippers who contract with Amazon, Door dash, Instacart, Target, Walmart and many other stores that are open that need employees to work. My neighbor works at Home Depot and they need more employees in most every store. She says that they don't have enough staff to cover all shifts, especially if/when someone has to take off for illness. There are many jobs out there and if you don't qualify for stimulus or it isn't enough, someone in your extended family (most likely your son, since he is going to be the least susceptible and in the least danger of getting seriously sick) needs to work. He can do what my neighbor does. She goes to work, comes home and immediately tosses clothes in the laundry and showers and washes up. She's been doing this every week since March (Home Depot never had to close) and no one in their family including her mother who lives with them, have gotten sick.

No offense taken but under the rules provided for a stimulus check we got one. $2400. I shared it with both kids, sister and BIL. We kept none of it. I appreciate the advice but none of it can help our situation. One son went back to work today. He will not be paid for another 4 weeks. I don't want to say what job he has but his was a layoff and was told by management if he got another job during this mess he would be fired. So he took unemployment. He lives in another state so he got it but it took a few months. My sister had nine weeks of rehab getting only half her check during that time. She's done well recovering but we had to help her pay for her car and groceries. We still do because she needs help. Her date to return to work is July 5th. She still uses a cane to walk. Her doctor said her hip was the worse he's ever seen. The gig child got caught as the lockdown lingered. When stores started closing he got behind. He's just catching up. The car we bought him had an electrical problem. It was $3500 to fix. He had no money so we paid for the repairs. No car no job no job no money no money no rent no food no utilities. I don't like talking about my BIL because what he does for a living is pretty much it. He's 58 and not like most people. If my FIL had not left him with a paid for place to live he would be homeless. Only because he would think that would be his only option. He would hate to move but we would gladly let him live here. My sister also. We offered many times.
None of them live in the state we are in. They ain't heavy, they're my family and I love them and care about them. I need to help them. We just need a little help to make everyone get their needs taken care of.

My husband is on week 11 being unemployed. He's an expert in what he does and if not for helping family, we could get through this fine, he could retire. But that's not the case. He actively looks for work and has appealed his unemployment. So far, nothing. If I could work I would but I have rheumatoid arthritis so day by day is how I live. Unmedicated. My choice. So it's not just go get a second job. We would if we could. All of us. We also realize we will need some income next year to pay for healthcare. Our portfolio is very healthy. We would get taxed out of the booty if we took money out. That is our old people fund meant to last until we die and or leave to the kids.

Again, thank you the advice.

[Anonymous]

To the "poor millionaire" -- I feel for you, but I don't see how a couple of thousand dollars could help your family much, since I assume you have a much higher quality -- and cost -- of living than most of us. For us, the stimulus payment made a huge difference because our rent is low and we are used to scraping by. Not saying that to pile on you, just saying.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle of July.

And it needs to fricking hurry up. I don't know how much longer my husband and I can keep helping family. Plus my husband lost his job and there isn't going to be a going back to that. Since we got a small severance his applying for unemployment was for nothing. Apparently $46,000 makes you unqualified for any relief. It's stressful carrying so many burdens. Lots of people are suffering. You just never hear about them.

Your husband got a $46k severance package?

Yes. For 37 years of loyalty. It was supposed to be $67,000 but the govt took their cut. We have a HSA with 14k in it so we're needing that to cover healthcare for a year. I did manage to save $150,000 in the three years since we paid off our house but when your sister is off work for a hip replacement and needs just about everything that entails for a few months, BIL got cut hours and I can't stand the thought of him not having enough food or no phone, son got laid off so we carried them for four months. It couldn't be helped. Another works gig jobs and needed a car plus rent for a while. Husband went to work one morning and came back home with no job. We're both 60 so at the rate we're going money will start evaporating. We won't make it to SS. If we could tap into our IRA without getting tax f'd we could do all this and not worry. We could split the next stimulus again like the first one, help everyone out with at least enough gas and food for a month. Pay one's rent for a month, house note for another.

We're poor millionaires. But it's really not funny. Something will give way soon. Something good I hope.

My husband was one of 750 that lost their job in the company. We are fortunate to have saved what we did when we did. Still, seeing minuses instead of pluses in the bank account stings, NEVER EVER think your job is forever.

Five of our neighbors no longer have jobs. This corona crap has been hell on lots of people.

No offense, but you were not the type of family that the stimulus was intended for. If you're "poor millionnaires" then you are outside the scope of the stimulus.

That said, someone in your family, your husband, your BIL or your son should start working and bringing in additional income for the extended family. There are still many many jobs at Amazon, third party shippers who contract with Amazon, Door dash, Instacart, Target, Walmart and many other stores that are open that need employees to work. My neighbor works at Home Depot and they need more employees in most every store. She says that they don't have enough staff to cover all shifts, especially if/when someone has to take off for illness. There are many jobs out there and if you don't qualify for stimulus or it isn't enough, someone in your extended family (most likely your son, since he is going to be the least susceptible and in the least danger of getting seriously sick) needs to work. He can do what my neighbor does. She goes to work, comes home and immediately tosses clothes in the laundry and showers and washes up. She's been doing this every week since March (Home Depot never had to close) and no one in their family including her mother who lives with them, have gotten sick.

WTF? A family with job loss and medical bills is EXACTLY who the stimulus is for. GTFOH.

Sure but the severance was more than many people make in a year so that’s what some people are reacting to.

[Anonymous]

Does CARES act covers stimulus payment to undocumented aliens?

[Anonymous]

I had another question, kids above 17 years are not getting any stimulus payment, and I feel they are the one who needs the most.
Is there any way we can claim for them?

[Anonymous]

Anonymous wrote:I had another question, kids above 17 years are not getting any stimulus payment, and I feel they are the one who needs the most.
Is there any way we can claim for them?

Only if you didn’t claim them as dependents…

[Anonymous]

Anonymous wrote:To the "poor millionaire" -- I feel for you, but I don't see how a couple of thousand dollars could help your family much, since I assume you have a much higher quality -- and cost -- of living than most of us. For us, the stimulus payment made a huge difference because our rent is low and we are used to scraping by. Not saying that to pile on you, just saying.

I feel bad about the poor millionaire joke. But it's true and we cannot touch that IRA unless it's a medical emergency. That money is for when we really retire. I said it in jest not in a bragging way. We are not wealthy. We are just debt free. Our monthly bills are under $2000. That includes food. When jobs started to go I put a stop to all frivolous shopping. Priorities only.

We can handle our expenses it's family needing help that's crushing us. If another round of stimulus came through, that would get everyone kinda sorta caught up and we would split ours with all of them. It would relieve some stress.

I forgot, my sister did not have her deductible for her hip replacement, we paid for that too. All this happened at the same time. The first round of stimulus came and it helped immensely. Everyone took care of immediate needs. Another one would slow our flow for a few months until everyone got caught up.

This virus crap is doing some hard damage. We thought we would be fine until my husband retired. We thought wrong. No one is safe. The good thing is my husband and I are tight and think the same way. If we have two dollars and family needs a dollar we give the dollar. It's no one's fault when they struggle and need.

[Anonymous]

Anonymous wrote:

Anonymous wrote:To the "poor millionaire" -- I feel for you, but I don't see how a couple of thousand dollars could help your family much, since I assume you have a much higher quality -- and cost -- of living than most of us. For us, the stimulus payment made a huge difference because our rent is low and we are used to scraping by. Not saying that to pile on you, just saying.

I feel bad about the poor millionaire joke. But it's true and we cannot touch that IRA unless it's a medical emergency. That money is for when we really retire. I said it in jest not in a bragging way. We are not wealthy. We are just debt free. Our monthly bills are under $2000. That includes food. When jobs started to go I put a stop to all frivolous shopping. Priorities only.

We can handle our expenses it's family needing help that's crushing us. If another round of stimulus came through, that would get everyone kinda sorta caught up and we would split ours with all of them. It would relieve some stress.

I forgot, my sister did not have her deductible for her hip replacement, we paid for that too. All this happened at the same time. The first round of stimulus came and it helped immensely. Everyone took care of immediate needs. Another one would slow our flow for a few months until everyone got caught up.

This virus crap is doing some hard damage. We thought we would be fine until my husband retired. We thought wrong. No one is safe. The good thing is my husband and I are tight and think the same way. If we have two dollars and family needs a dollar we give the dollar. It's no one's fault when they struggle and need.

You're a good person, PP.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle of July.

And it needs to fricking hurry up. I don't know how much longer my husband and I can keep helping family. Plus my husband lost his job and there isn't going to be a going back to that. Since we got a small severance his applying for unemployment was for nothing. Apparently $46,000 makes you unqualified for any relief. It's stressful carrying so many burdens. Lots of people are suffering. You just never hear about them.

Your husband got a $46k severance package?

Yes. For 37 years of loyalty. It was supposed to be $67,000 but the govt took their cut. We have a HSA with 14k in it so we're needing that to cover healthcare for a year. I did manage to save $150,000 in the three years since we paid off our house but when your sister is off work for a hip replacement and needs just about everything that entails for a few months, BIL got cut hours and I can't stand the thought of him not having enough food or no phone, son got laid off so we carried them for four months. It couldn't be helped. Another works gig jobs and needed a car plus rent for a while. Husband went to work one morning and came back home with no job. We're both 60 so at the rate we're going money will start evaporating. We won't make it to SS. If we could tap into our IRA without getting tax f'd we could do all this and not worry. We could split the next stimulus again like the first one, help everyone out with at least enough gas and food for a month. Pay one's rent for a month, house note for another.

We're poor millionaires. But it's really not funny. Something will give way soon. Something good I hope.

My husband was one of 750 that lost their job in the company. We are fortunate to have saved what we did when we did. Still, seeing minuses instead of pluses in the bank account stings, NEVER EVER think your job is forever.

Five of our neighbors no longer have jobs. This corona crap has been hell on lots of people.

Won't your family members get their own stimulus checks?

[Anonymous]

Anonymous wrote:Stop asking the gubmt for free handouts you bum

Your stocks got a free handout how is that different?

[Anonymous]

If you still list him as a dependent, he will not get anything.

[Anonymous]

[[b]quote=Anonymous]

Anonymous wrote:To the "poor millionaire" -- I feel for you, but I don't see how a couple of thousand dollars could help your family much, since I assume you have a much higher quality -- and cost -- of living than most of us. For us, the stimulus payment made a huge difference because our rent is low and we are used to scraping by. Not saying that to pile on you, just saying.

I feel bad about the poor millionaire joke. But it's true and we cannot touch that IRA unless it's a medical emergency. That money is for when we really retire.[b] I said it in jest not in a bragging way.

If he is over age 59.5, he can take distributions penalty free. Still taxable of course.

In fact, I think the CARES Act waived early distribution penalties for younger IRA owners too. Not that it's a good idea for younger people to raid their IRAs, but it's an option.

[Anonymous]

The CARES Act allows individuals to withdraw up to $100,000 of IRA and company plan funds during 2020 and pay the associated tax over 3 yrs. Being laid off or having work hours reduced is one of the financial eligibility requirements.

PP's husband could also avoid the taxes altogether by paying back the CRD to an IRA within three years.

https://www.irahelp.com/slottreport/4-cares-act-misconceptions