By now you have probably heard that the stimulus package (also known as Coronavirus Act, Relief, and Economic Security Act, or CARES Act) has been signed into law. The purpose of the bill is to give Americans a financial bridge until quarantine measures are lifted and people are able to go back to work.
The final version of the CARES Act is ((990))) pages long, and it will take accountants and financial planners weeks and months to sort out all the provisions. For now, here’s what you need to know.
Today, we’re going to talk about the perfect storm. And I don’t mean that George Clooney movie from twenty years ago.
I’m actually referring to the personal-finance trifecta: saving for retirement, while also saving for your kid’s college tuition, while also trying to care for aging parents. Whew! Just writing that out is stressful.
Does juggling all three at the same time sound impossible?
But, while challenging, it can be done. The trick is to re-evaluate the scale at which you approach each commitment.