The government has introduced a number of aid and relief measures to keep individuals and businesses afloat during these difficult economic times. The stimulus money packages have totaled trillions of dollars, and this massive influx of cash has many people wondering how funding actually works.

On this episode of the Money Wisdom podcast, Joel Johnson explains how the country borrows the money and the process in which all of this gets paid back over time. The national debt, which was over $24 trillion when this podcast was recorded, worries a lot of people for obvious reasons. But what about Joel? He’ll share his perspective on the show.

How Stimulus Money Impacts You

This stimulus money will affect you directly—both now and in the future. As the economy continues to struggle through the coronavirus health crisis, there’s uncertainty about where we’re headed the rest of this year and the next few years. Have you thought about what adjustments you need to make to your financial plan as a result of these measures?

Adjusting Your Financial Plan

The strategies are going to be different depending on your age and where you are in relation to retirement. It’s important to have conversations with your financial advisor to determine what options you have and what decisions you should make. Don’t let worry and fear distract you from this opportunity to reassess your portfolio and strengthen your long-term plan.

Finding Opportunity in Uncertain Times

As you’ll hear on the show, many of our country’s top companies were founded during difficult economic times, and we’ll likely see the same thing 20 years from now when we look back on this period in history. Take the proper measures today to make sure you are doing everything you can to come out of this stronger and more financially prepared.

[0:20] – Joel has made some moves at the home office.

[1:32] – Fun Fact about some of our country’s top companies.

[2:38] – What we want to talk about today.

[3:03] – Where does the money come from for these stimulus packages?

[5:21] – How much is this national debt a problem?

[7:06] – How does this effect us from a financial decision-making standpoint?

[8:06] – If you’re in retirement, it’s a different plan. 

[9:18] – If you want to get your plan in place, here’s the process.