Got my stimulus check, how about you?

[Tdubs]

Posted to my Ally account this morning. Less than expected.

[MishkaWorries]

Ours posted to our credit union. 600x2. Big whoop.

[Ice-9]

Ours posted this morning also.

[pasadena]

No, I'm not eligible.

[OnTrack2020]

Yes, stunned it arrived so quickly. Will use it later this year toward paying for health insurance when COBRA ends. Does that count as helping the economy??

[Soon2BXProgrammer]

Yes, stunned it arrived so quickly. Will use it later this year toward paying for health insurance when COBRA ends. Does that count as helping the economy??

i was thinking about using it to pay the taxes on a Roth conversion....

[RubyTuesday]

Ours posted as of Jan 1. $1200 ach from treasury

[cheese_breath]

I expect mine to be late, just like the last one was because I neither paid nor owed taxes in 2019.

[6bquick]

Ours posted to our credit union. 600x2. Big whoop.

I initially had the same thought. but, I've since decided to be very grateful that an unexpected, not-insignificant amount of money has next to zero effect on our financial well-being. Sadly, I think there are many Americans for whom this $1200 is going to be very much a non-sarcastic "big whoop!!"

[JoeRetire]

Posted to my Ally account this morning. Less than expected.

Why less? What were you expecting?

[JoeRetire]

Haven't gotten ours yet.

We changed banks and closed the account we used for our tax return's direct deposit last year. So I expect we'll get a check in the mail eventually.

[tsohg]

I wonder how many millionaire Bogleheads will be receiving this money? No shade thrown on anyone here, but it is funny that we as a country have no way to track actual means and make decisions on who to support, except for special cases like FAFSA forms.

[an_asker]

No, I'm not eligible.

For the second straight time, I thought we would be ineligible, and for the second straight time, we got it*. Which just shows who the Feds think need to be "stimulated" ... OR that we are in the poorhouse income category too!

* not the full amount, but still!!!

[mpsz]

Received nearly $16 of stimulus this morning, also at Ally. I was planning to donate it anyway.

[MishkaWorries]

Ours posted to our credit union. 600x2. Big whoop.

I initially had the same thought. but, I've since decided to be very grateful that an unexpected, not-insignificant amount of money has next to zero effect on our financial well-being. Sadly, I think there are many Americans for whom this $1200 is going to be very much a non-sarcastic "big whoop!!"

Not to get political but I gave the money to local charities to help with the dislocation of COVID. I don't like these small stimulus checks to almost everyone. I don't think they move the needle on goosing the economy but they add greatly to the deficit. I'd much rather see directed benefits to those most affected by the virus. Small businesses have taken it in the neck and all they get are crumbs.

[an_asker]

I wonder how many millionaire Bogleheads will be receiving this money? No shade thrown on anyone here, but it is funny that we as a country have no way to track actual means and make decisions on who to support, except for special cases like FAFSA forms.

That sir/madam, was exactly the point I was trying to make a few minutes ago

[6bquick]

Ours posted to our credit union. 600x2. Big whoop.

I initially had the same thought. but, I've since decided to be very grateful that an unexpected, not-insignificant amount of money has next to zero effect on our financial well-being. Sadly, I think there are many Americans for whom this $1200 is going to be very much a non-sarcastic "big whoop!!"

Not to get political but I gave the money to local charities to help with the dislocation of COVID. I don't like these small stimulus checks to almost everyone. I don't think they move the needle on goosing the economy but they add greatly to the deficit. I'd much rather see directed benefits to those most affected by the virus. Small businesses have taken it in the neck and all they get are crumbs.

Couldn't agree more. you're spot-on across the board.

[randybobandy]

Received 12/31 in my USAA account.

--Randy Bo Bandy

[barnaclebob]

We are very grateful to not be eligible and not have a need for it.

[Dottie57]

I received my check to day.

About 1/2 of of the single person check.

The previous stimulus check was 3/4 of the single person check. Wonder why the percentage difference?

Am assuming 2019 tax was used for both.

[Jags4186]

Am not receiving one but it would be nice to have. My wife has been unemployed since July.

[geerhardusvos]

Nothing in the checking account or mail yet... but I might be above the income threshold... Haven’t looked into it at all

[Juice3]

I wonder how many millionaire Bogleheads will be receiving this money? No shade thrown on anyone here, but it is funny that we as a country have no way to track actual means and make decisions on who to support, except for special cases like FAFSA forms.

Have teenagers and heard many stories about them getting more money from bump in unemployment benefits than they did from their jobs - 5 digit sums. I guess better teenagers than their millionaire parents. Money spent on typical teenager things, probably not the intent but a stimulus of sorts.

[Rainmaker41]

Our second relief payment direct deposited today on Monday, January 4. We are treating it as a partial reimbursement for donations made previously beyond the amount of the first relief payment. If after further hypothetical relief payments our cumulative receipts exceed our cumulative donations, we will donate the excess again.

It has taken me a while to decide whether to think of it as a 2020 or a 2021 accounting entry on the spreadsheet. In the end I landed on 2020, since it is technically a credit for the 2020 tax year.

[Tdubs]

Posted to my Ally account this morning. Less than expected.

Why less? What were you expecting?

I'm in the AGI region where the stimulus phases out, but I thought I got more proportionally in the spring stimulus.

[Catt]

Posted to my Ally account this morning. Less than expected.

Why less? What were you expecting?

I'm in the AGI region where the stimulus phases out, but I thought I got more proportionally in the spring stimulus.

Same here. I got much less than in the spring.

[GlacierRunner]

Posted to my Ally account this morning. Less than expected.

Why less? What were you expecting?

I'm in the AGI region where the stimulus phases out, but I thought I got more proportionally in the spring stimulus.

Same here. I got much less than in the spring.

It's because the calculation for the phase out was for every $100 increase in income, $5 came off of your stimulus amount. It's the same calculation from the spring, but the starting amount was less and you can't compare proportionally.

[Mitchell777]

55% of the total due to the change in the phase-out calculation. Last time it was almost 80% of the total.

[runner3081]

Yes, received it this morning, direct deposit.

$1,200 sent to Vanguard for investments
$500 sent to 529 for child
$100 sent to UTMA for child

[willthrill81]

We got ours last Friday. It's already in a Roth IRA.

[Monsterflockster]

This thread gives me a heavy heart. While Bogleheads may not need it many do. The line that was drawn was at 75k annually from 2019. That’s not a lot of money in a HCOLA... I know people personally who have lost jobs and were praying for that stimulus to buy food. Yes, some don’t need it and may go buy something they don’t need (isn’t that stimulating the economy too?) but I think many Bogleheads come from a place of pro ledge. And it is showing here in this thread.

[trueblueky]

Ours posted as of Jan 1. $1200 ach from treasury

Us too. I was surprised the credit union posted anything on a holiday.

I understand from my volunteer tax position that the stimulus will count as having come in 2020. We were just getting nowhere we could enter the first stimulus amount. More work for the programmers.

[Soon2BXProgrammer]

Posted to my Ally account this morning. Less than expected.

Why less? What were you expecting?

I'm in the AGI region where the stimulus phases out, but I thought I got more proportionally in the spring stimulus.

Same here. I got much less than in the spring.

It's because the calculation for the phase out was for every $100 increase in income, $5 came off of your stimulus amount. It's the same calculation from the spring, but the starting amount was less and you can't compare proportionally.

I know its too late for people to craft their 2020 income but effectively if they are in the phase out the stimulus checks could be a +10% to their marginal tax rate for a range of income.

[runner3081]

but I think many Bogleheads come from a place of pro ledge. And it is showing here in this thread.

Confused by this? Typo? What is pro ledge?

[tsohg]

but I think many Bogleheads come from a place of pro ledge. And it is showing here in this thread.

Confused by this? Typo? What is pro ledge?

I believe Monsterflockster meant privilege.

We (my family) didn't receive, nor do we feel we need the stimulus. I do feel fortunate.

[Tim_in_GA]

Got it. Spent it.

[runner3081]

but I think many Bogleheads come from a place of pro ledge. And it is showing here in this thread.

Confused by this? Typo? What is pro ledge?

I believe Monsterflockster meant privilege.

We (my family) didn't receive, nor do we feel we need the stimulus. I do feel fortunate.

Got it, thanks!

We received $1,800 and "spent" it all on investments in the market

Knock on wood, we didn't need it either.

[bengal22]

but I think many Bogleheads come from a place of pro ledge. And it is showing here in this thread.

Confused by this? Typo? What is pro ledge?

I assume it means those people that like to live on the edge financially. They are always one misstep from financial ruin. They are for living on the ledge.

[tsohg]

but I think many Bogleheads come from a place of pro ledge. And it is showing here in this thread.

Confused by this? Typo? What is pro ledge?

I assume it means those people that like to live on the edge financially. They are always one misstep from financial ruin. They are for living on the ledge.

LOL, that's the Bogleheads, alright!

[jimmyrules712]

Got my $1800 for my family of 3 this morning. Also was notified this morning by my employer that they screwed and under withheld my 2020 federal tax withholding by $1725 from a bonus I got earlier this year so I'm going to owe that much more with my tax return. So the stimulus money is just going from one IRS account to another.

[Chicattle]

I didn't get it the last time, nor this time. But that's ok.

[sschoe2]

I got about $530, I got $1100 last time. Although my income is well into the phaseout zone my maxed out 401k reduced my income to where I received most of the payment.

[jarjarM]

We are very grateful to not be eligible and not have a need for it.

+1, same here, very grateful not to be eligible for the last and this one. Others have more need than us.

[BarbBrooklyn]

Retired. Got it this AM. Bought some VEU in taxable.

[K5821]

Got it. $1200.
Made a list of 12 local restaurants to spend $100 each. We will order take out and probably spend about $50-60 at each place and leave the rest as a tip. These are the local businesses that make us the happiest, and they are struggling more than we are. I want them to be around in the next year.

[Tester83]

Received this morning.

[tennisplyr]

Received mine yesterday

[Tdubs]

My kids have not gotten them.

[likegarden]

Thanks for writing about this. Yes, I got the 2x600 in my checking account!!

At least something. I never got the 2x1200, sent the IRS twice the proper form for us not getting it, in July and in November just before IRS closed up for requesting it. And both times they received it. Here it shows how quick and simple the IRS is able to do it.

[Picasso]

Yes, stunned it arrived so quickly. Will use it later this year toward paying for health insurance when COBRA ends. Does that count as helping the economy??

It does! Minimum loss ratio (MLR) regulations on insurance companies mean that at least 80% of those premium dollars will be paid as claims.