Individual Relief Available Through The CARES Act

03/31/20 • 23 min

On today’s show we are going to dissect the recently passed CARES Act Stimulus package. The bill was 800+ pages long and there is definitely a lot of confusion out there on what relief is available and how to get it. I am going to break the podcast up into two parts. On this one we are going to cover the Act specifically as it applies to individuals. On the next podcast we are going to cover the provisions for small businesses.

In this episode you will learn

The Recovery Rebate Check and who is eligible and how much will you receive
Additional provisions to Unemployment compensation
Additional access to your retirement accounts through loans and distributions
Relief to student loan borrowers who have federal loans

This is the second part of a two-part series on The Cares Act. Listen to the second part, which covers how The CARES Act applies to small businesses.

Resources:
Episode Transcript & Blog | Bautis Financial: (862) 205-5000 | bautisfinancial.com

In this episode you will learn

The Recovery Rebate Check and who is eligible and how much will you receive
Additional provisions to Unemployment compensation
Additional access to your retirement accounts through loans and distributions
Relief to student loan borrowers who have federal loans

This is the second part of a two-part series on The Cares Act. Listen to the second part, which covers how The CARES Act applies to small businesses.

Resources:
Episode Transcript & Blog | Bautis Financial: (862) 205-5000 | bautisfinancial.com

Previous Episode

How to Navigate the COVID Crisis

We’re in unprecedented times right now. We’ve seen the Dow Jones fluctuate 3,000 points in a day, circuit breakers were tripped 2 times in one week this month, and oil recently hit an 18 year low. Panicked investors looking for liquidity are selling things like long-term government bonds, gold, and municipal bonds which are all typically safe havens. And the stock market has decreased 30% from its February peak.

In this episode, you will learn:

What’s happening?
- There’s a lot of information out there, some of it good and some of it not so good.
- This markets the end to the bull market, at least for now.
- How the coronavirus is different than other pandemics we’ve seen.
How does this compare to 2008?
- This was the quickest shift to a bear market ever.
- The quick drawdown was partially due to lack of information as the underlying economy was strong coming in to the crisis.
What is the path forward?
- How best to prepare for things if they get worse.
- How best to take advantage for a recovery.

Resources:
Episode Transcript & Blog | Bautis Financial: (862) 205-5000

Next Episode

How The CARES Act Applies to Small Businesses

Last Friday, Congress signed a mammoth $2 trillion stimulus package into law called The Cares Act (Coronavirus Aid, Relief and Economic Security). Many of the programs and initiatives in The Cares Act are intend to assist business owners through a variety of needs. In this episode of The Agent of Wealth Podcast, host Marc Bautis shares details on the three relief programs: The Economic Impact Disaster Loan (EIDL), The Payroll Protection Program (PPP) and The Employee Retention Tax Credit (ERTC). Bautis also answers frequently asked questions about each program, such as:

What are the eligibility requirements?
Do I have to personally guarantee the loan or provide any collateral?
What do the loan funds have to be used for?
Is the loan forgivable?
What’s the maximum loan amount I can receive?
How do I apply?

This is the second part of a two-part series on The Cares Act. Listen to the first part, which covers the individual relief efforts outlined in the Act.

Resources:
Episode Transcript & Blog | Bautis Financial: (862) 205-5000 | CARES Act - Small Business Checklist

The Agent of Wealth - Individual Relief Available Through The CARES Act

Transcript

spk_0: 0:02
welcome to the agent of wealth Podcast with Mark about is from about his financial. In this podcast, Marc helps guide you towards financial freedom. Ensure you never run out of money and create a balance in life that prioritizes what is most important to you. Join us for this journey as Mark draws for years of expertise and guest experts to solve the multiple wealth building challenges involved in your financial life.
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Welcome