Covid 19 an The Stimulus Package
COVID-19 Stimulus Package in Oklahoma
On the 27th of May, the Senate has approved a historic $2 trillion stimulus bill to help the economy. We are not here to discuss if its politically wrong or right, what has happened has happened. Hopefully, this helps out the economy enough to get us out of this disaster we have created by shutting everything down. So today we are going to be covering how this will affect real estate in Oklahoma. As always if you're in the market for homes for sale in Moore, check out our page on this city.
The Stimulus Check
Here's how the breakdown is: a single person making less than $75,000 a year, on an adjusted gross income, will receive a check for $1,200. With a married couple, everything is double. You will receive $2,400 if you and your partner make less than $150,000 yearly. Then for every kid you have, you will receive an additional $500 for each child under the age of 18. So for me and my wife, combined, we make less than $150,000 plus we have one kid. That means we will receive a check for $2,900
Withdrawing From Your 401K
There have been provisions that make it easier for you to take money out of your 401k out. I wouldn't suggest doing this especially if your money is invested in the stock market. The stock market is currently at its lowest point from the past 3 years.
350 Billion Dollars Going To Small Businesses
Some people don't realize how big some small businesses are. Almost every corner you will see at least one locally owned business, like car dealerships, restaurants, and brokerages, like Rose Rock Realty. Any business with less than 50 employees is considered a small business. The government will give you a loan to pay your employees off. As long as you don't fire any workers, the government will forgive that loan.