{"id":961,"date":"2020-04-03T21:41:00","date_gmt":"2020-04-03T21:41:00","guid":{"rendered":"https:\/\/www.simplywise.com\/blog-2023\/?p=961"},"modified":"2023-06-22T22:03:20","modified_gmt":"2023-06-22T22:03:20","slug":"will-people-on-social-security-get-a-stimulus-check","status":"publish","type":"post","link":"https:\/\/www.simplywise.com\/blog\/will-people-on-social-security-get-a-stimulus-check\/","title":{"rendered":"Will people on Social Security get a stimulus check?\u200b"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"961\" class=\"elementor elementor-961\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bf5c4e5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bf5c4e5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7111b54\" data-id=\"7111b54\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b549755 elementor-widget elementor-widget-template\" data-id=\"b549755\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"196\" class=\"elementor elementor-196\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-339b45e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"339b45e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f771e94\" data-id=\"3f771e94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44435407 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"44435407\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<link rel=\"stylesheet\" href=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/elementor\/css\/custom-pro-widget-call-to-action.min.css?ver=1764022918\">\t\t<a class=\"elementor-cta\" href=\"https:\/\/simplywise.app.link\/Iv0wVANrvfb\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-content-item elementor-cta__content-item elementor-icon-wrapper elementor-cta__icon elementor-view-default\">\n\t\t\t\t\t\t<div class=\"elementor-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-lightbulb\"><\/i>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">DID YOU KNOW?<\/h2>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tRetirement is 99% easier when your paperwork is organized. \n\nJoin 250,000+ Americans securely storing their important receipts, bills &amp; documents with the SimplyWise app.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-md\">\n\t\t\t\t\t\tGet the App\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-251465d elementor-widget elementor-widget-text-editor\" data-id=\"251465d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<section class=\"elementor-element elementor-element-5a2651d elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"5a2651d\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-5beff23 elementor-column elementor-col-100 elementor-top-column\" data-id=\"5beff23\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-160e35d elementor-widget elementor-widget-heading\" data-id=\"160e35d\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">Will Social Security recipients get a stimulus check?<\/h2><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-df4e066 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"df4e066\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-09c056d elementor-column elementor-col-100 elementor-top-column\" data-id=\"09c056d\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-a3e039e elementor-widget elementor-widget-text-editor\" data-id=\"a3e039e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>The novel coronavirus has thrown citizens and markets into a panic. People are losing their jobs.\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/withdrawing-from-your-401k-during-coronavirus\/\" target=\"_blank\" rel=\"noopener\">Retirement savings<\/a>\u00a0are being ravaged. The government is responding with a $2 trillion stimulus deal that would give cash directly to Americans and some of the businesses hardest hit by the Corona Crash.\u00a0<\/p><p>As of March 27, the stimulus deal has been passed by Congress and signed into law by President Trump. \u00a0The package is designed to help the\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/new-study-63-of-americans-will-need-another-stimulus-check-within-3-months\/\" target=\"_blank\" rel=\"noopener\">millions affected by the coronavirus<\/a>\u00a0 though the money will likely not go out until this May. \u00a0Under the previous proposals, there was little information about what would happen to\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/10-important-facts-about-social-security-during-coronavirus\/\">Social Security beneficiaries<\/a>\u00a0 It looked possible that some or all could be excluded from receiving the coronavirus check.\u00a0<\/p><p>However, the final bill allows Social Security recipients to have access to the stimulus package. (This is despite the fact that many Social Security beneficiaries have stopped working and\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/the-4-tax-mistakes-to-avoid-in-retirement\/\" target=\"_blank\" rel=\"noopener\">so don\u2019t file taxes.<\/a>)\u00a0<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-7cf3f29 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"7cf3f29\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-6fea517 elementor-column elementor-col-100 elementor-top-column\" data-id=\"6fea517\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-b6722f3 elementor-widget elementor-widget-heading\" data-id=\"b6722f3\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">How much is the stimulus check?<\/h2><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-ca80800 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"ca80800\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-0e14875 elementor-column elementor-col-100 elementor-top-column\" data-id=\"0e14875\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-577c655 elementor-widget elementor-widget-text-editor\" data-id=\"577c655\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>The stimulus package is based on your income from your 2018 tax return (or your 2019 return if you already filed).\u00a0<\/p><p>The 2020 package provides $1,200 for adults with incomes up to $75,000. People making between $75,000 and $99,000 will receive reduced checks (the amount drops by $5 for every $100 of income over $75,000.\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/guide-to-social-security-spousal-benefits\/\" target=\"_blank\" rel=\"noopener\">Married couples<\/a>\u00a0could receive $2,400 if their adjusted gross income is below $150,000. Again, married couples making between $150,000 and $198,000 will receive reduced checks on that sliding scale. People who file taxes as a \u201chead of household\u201d (for example, single parents) are eligible for the $1,200 check if they earn up to $112,500 annually. And they can get a reduced check if they make up to $136,500 each year. Additionally, couples and individuals\u00a0will receive $500 per child.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-82cec1f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"82cec1f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-29d8750\" data-id=\"29d8750\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f0fc6f7 elementor-widget elementor-widget-text-editor\" data-id=\"f0fc6f7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>People on Social Security can receive the stimulus check\u00a0<b>as long as their total income is not above these limits<\/b>. For these beneficiaries, it is not necessary to have filed a tax return.\u00a0<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e2408ac\" data-id=\"e2408ac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-40a541d elementor-widget elementor-widget-image\" data-id=\"40a541d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"588\" src=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/04\/Screen-Shot-2023-06-20-at-4.42.59-PM.png\" class=\"attachment-large size-large wp-image-964\" alt=\"\" srcset=\"https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/04\/Screen-Shot-2023-06-20-at-4.42.59-PM.png 681w, https:\/\/www.simplywise.com\/blog\/wp-content\/uploads\/2020\/04\/Screen-Shot-2023-06-20-at-4.42.59-PM-300x276.png 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-01fd785 elementor-widget elementor-widget-text-editor\" data-id=\"01fd785\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<section class=\"elementor-element elementor-element-4fd1517 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"4fd1517\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-9daf0a1 elementor-column elementor-col-100 elementor-top-column\" data-id=\"9daf0a1\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-9f46744 elementor-widget elementor-widget-heading\" data-id=\"9f46744\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">When will the stimulus check come?<\/h2><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-26daa48 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"26daa48\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-cf7ad05 elementor-column elementor-col-100 elementor-top-column\" data-id=\"cf7ad05\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-faa9b21 elementor-widget elementor-widget-text-editor\" data-id=\"faa9b21\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>Unfortunately there is currently no answer on when the 2020 coronavirus stimulus checks will actually come.\u00a0<\/p><p>Treasury Secretary Mnuchin has said that the checks will arrive in the next two weeks.\u00a0<\/p><p>However,\u00a0<a href=\"https:\/\/www.cnn.com\/2020\/03\/25\/politics\/senate-deal-stimulus-checks-coronavirus\/index.html\">there is some skepticism about whether the government will be able to get the stimulus checks out before May<\/a>.\u00a0<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-d83c7db elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"d83c7db\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-d746c8d elementor-column elementor-col-100 elementor-top-column\" data-id=\"d746c8d\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-6ea38eb elementor-widget elementor-widget-heading\" data-id=\"6ea38eb\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">How do I get my stimulus check?<\/h2><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-4e47c86 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"4e47c86\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-ba4f058 elementor-column elementor-col-100 elementor-top-column\" data-id=\"ba4f058\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-3680276 elementor-widget elementor-widget-text-editor\" data-id=\"3680276\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>For Americans who have previously provided the IRS with their direct-deposit bank account information, the checks will be added to those accounts directly.\u00a0<\/p><p>After some back and forth,\u00a0<a href=\"https:\/\/www.cbsnews.com\/news\/stimulus-checks-social-security-recipients-will-automatically-get-checks-treasury-reversal\/\">the Treasury Department has now confirmed<\/a>\u00a0that for Social Security recipients who have already received a SSA-1099 form (their Social Security benefit statement), the government will be able to get them their checks in the same way they pay them their benefits.\u00a0<\/p><p>Remember to, as always, beware of scammers, particularly around the stimulus checks. Cyber criminals are already attempting to swindle people out of their checks, via call, text, email or other sites that ask for your personal information in order to receive payment.\u00a0Again: if you are eligible, the government will send you the check directly. Never give out your Social Security or bank account number to anyone who claims it is necessary in order to receive the 2020 stimulus check.\u00a0<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-bc13163 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"bc13163\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-ee5ba37 elementor-column elementor-col-100 elementor-top-column\" data-id=\"ee5ba37\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-e1cd56c elementor-widget elementor-widget-heading\" data-id=\"e1cd56c\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">What if my social security address changed?<\/h2><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-e5ecf5e elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"e5ecf5e\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-64c2ef4 elementor-column elementor-col-100 elementor-top-column\" data-id=\"64c2ef4\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-31d1a93 elementor-widget elementor-widget-text-editor\" data-id=\"31d1a93\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>If you are concerned about receiving your check because you have had an address change, you can visit\u00a0<a href=\"https:\/\/www.mymove.com\/moving\/guides\/how-to-update-or-cancel-your-change-of-address\/\" target=\"_blank\" rel=\"noopener\">MyMove<\/a>\u00a0or\u00a0the\u00a0<a href=\"https:\/\/www.ssa.gov\/myaccount\/change-of-address.html?gclid=EAIaIQobChMI7f7x0s676AIVhozICh2WnQMBEAAYASAAEgIwiPD_BwE\" target=\"_blank\" rel=\"noopener noreferrer\">Social Security Administration change of address website<\/a>.\u00a0The SSA will allow you to set up an online account and update where your check should be sent.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-da8ba81 elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"da8ba81\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-5289f79 elementor-column elementor-col-100 elementor-top-column\" data-id=\"5289f79\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-faa24ae elementor-widget elementor-widget-heading\" data-id=\"faa24ae\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">Other retirement savings relief in the stimulus package<\/h2><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-84b432c elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"84b432c\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-120e316 elementor-column elementor-col-100 elementor-top-column\" data-id=\"120e316\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-1e14fd0 elementor-widget elementor-widget-text-editor\" data-id=\"1e14fd0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>Beyond the stimulus checks, other provisions of the bill help to relax some of the rules for retirement savings.\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/withdrawing-from-your-401k-during-coronavirus\/\" target=\"_blank\" rel=\"noopener\">One measure allows people under 59 1\/2 years old to take up to $100,000 from their 401(k) plan without the usual 10% penalty for early withdrawal<\/a>.\u00a0<\/p><p>The bill also suspends the need to take 2020 minimum required distributions from tax-deferred 401(k)s and individual retirement accounts. This allows retirees to keep from drawing down their savings during the market uncertainty.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-8aa115c elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"8aa115c\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-3951125 elementor-column elementor-col-100 elementor-top-column\" data-id=\"3951125\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-7f52b62 elementor-widget elementor-widget-heading\" data-id=\"7f52b62\" data-element_type=\"widget\" data-widget_type=\"heading.default\"><div class=\"elementor-widget-container\"><h2 class=\"elementor-heading-title elementor-size-default\">Takeaways<\/h2><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"elementor-element elementor-element-c8f777c elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-section elementor-top-section\" data-id=\"c8f777c\" data-element_type=\"section\"><div class=\"elementor-container elementor-column-gap-default\"><div class=\"elementor-row\"><div class=\"elementor-element elementor-element-22a098d elementor-column elementor-col-100 elementor-top-column\" data-id=\"22a098d\" data-element_type=\"column\"><div class=\"elementor-column-wrap  elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-9b817fd elementor-widget elementor-widget-text-editor\" data-id=\"9b817fd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>Given the potential holdups for getting the checks, it may be wise not to rely on the stimulus money in the short-term. Yet despite being at home, there are a number of things you can do to\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/coronavirus-cabin-fever\/\" target=\"_blank\" rel=\"noopener\">avoid cabin fever<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/online-jobs-hiring-right-now-for-boomers\/\" target=\"_blank\" rel=\"noopener\">even make some extra cash<\/a>.\u00a0 Above all, it is important to know the facts,\u00a0<a href=\"https:\/\/www.simplywise.com\/\" target=\"_blank\" rel=\"noopener\">understand the Social Security income you are owed<\/a>,\u00a0and\u00a0<a href=\"https:\/\/www.simplywise.com\/blog\/social-security-retirement-benefits\/\">stay educated about your benefits<\/a>\u00a0so that you can keep your retirement on track.\u00a0<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-755a473 elementor-widget elementor-widget-template\" data-id=\"755a473\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"196\" class=\"elementor elementor-196\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-339b45e0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"339b45e0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3f771e94\" data-id=\"3f771e94\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-44435407 elementor-cta--skin-classic elementor-animated-content elementor-bg-transform elementor-bg-transform-zoom-in elementor-widget elementor-widget-call-to-action\" data-id=\"44435407\" data-element_type=\"widget\" data-widget_type=\"call-to-action.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<a class=\"elementor-cta\" href=\"https:\/\/simplywise.app.link\/Iv0wVANrvfb\">\n\t\t\t\t\t\t\t<div class=\"elementor-cta__content\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-content-item elementor-cta__content-item elementor-icon-wrapper elementor-cta__icon elementor-view-default\">\n\t\t\t\t\t\t<div class=\"elementor-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-lightbulb\"><\/i>\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<h2 class=\"elementor-cta__title elementor-cta__content-item elementor-content-item\">DID YOU KNOW?<\/h2>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__description elementor-cta__content-item elementor-content-item\">\n\t\t\t\t\t\tRetirement is 99% easier when your paperwork is organized. \n\nJoin 250,000+ Americans securely storing their important receipts, bills &amp; documents with the SimplyWise app.\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-cta__button-wrapper elementor-cta__content-item elementor-content-item \">\n\t\t\t\t\t<span class=\"elementor-cta__button elementor-button elementor-size-md\">\n\t\t\t\t\t\tGet the App\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Will Social Security recipients get a stimulus check? The novel coronavirus has thrown citizens and markets into a panic. People are losing their jobs.&nbsp;Retirement savings&nbsp;are being ravaged. The government is responding with a $2 trillion stimulus deal that would give cash directly to Americans and some of the businesses hardest hit by the Corona Crash.&nbsp; [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":962,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Will people on Social Security get a stimulus check?\u200b - SimplyWise Cost Estimator<\/title>\n<meta name=\"description\" content=\"The bill has been passed, and people on Social Security will be eligible to receive the stimulus check as long as their income is not above...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.simplywise.com\/blog\/will-people-on-social-security-get-a-stimulus-check\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Will people on Social Security get a stimulus check?\u200b - 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