Right now, we’re all concerned about the health of our loved ones. But the coronavirus has also given us some economic worries. However, if you’re an investor or a business owner, you just got some help from Washington. Specifically, the passage of the $2 trillion CARES Act offers several key benefits.
First, it expands unemployment insurance. If your employment has been affected, these benefits can be a lifeline. Furthermore, the benefits could help you avoid liquidating some long-term investments to meet your daily cash flow needs.
Also, you will probably receive a direct payment – up to $1,200 for an individual, or $2,400 for married couples. If you don’t need this money immediately, you might consider putting it into a liquid account as part of an emergency fund.
And if you’re a small business owner, you may be eligible for loans that can help you retain workers and avoid closing up shop.
We’ll be in a challenging economic environment for some time, but the CARES Act should give us a positive jolt – and brighten our outlook.
If you have any questions, please contact me at 980-859-2549 or by e-mail at Brandon.Monette@edwardjones.com
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.