When Is the Next Stimulus Check and Do I Qualify? Plus, More of Your Stimulus Questions Answered
I would like to know if people who are on Social Security will be considered to receive stimulus checks?
– Patricia Ellis; Washington, D.C.
Hi Patricia,
As we contend with inflation and economic uncertainty, I understand why you would be seeking information on any potential future stimulus checks that could become available — especially if you are a Social Security recipient. I spoke with Katherine Tierney, senior retirement strategist at Edward Jones, to find out what she thinks the future may hold for Social Security recipients like yourself when it comes to additional stimulus checks — and there’s both good news and bad news. Let’s start with the bad news first.
“We don’t expect additional stimulus checks to be issued any time soon,” she said.
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On the plus side, if there are more stimulus checks, you would likely qualify, even if you do collect Social Security.
“With past rounds of federal stimulus checks, there were no minimum income requirements for the payment,” Tierney said. “Individuals with little or no income were generally eligible to receive the payment, provided their income was below the maximum limit, they were not a dependent of another taxpayer and they had a work-eligible Social Security number.
“Keep in mind that if stimulus checks are issued in the future, though, the eligibility criteria may be different from past rounds,” she added.
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When is the next stimulus check and do I qualify?
– Alberto Ontiveros; El Sereno, California
Hi Alberto,
I spoke to several experts, and, unfortunately, they don’t believe there will be future stimulus checks — at least not anytime soon.
Here’s what Victoria Bills, chief investment strategist at Banrion Capital Management, had to say.
“At first, states and the Biden administration were very supportive of stimulus checks. Now that the Fed is getting inflation and unemployment under control and people are going back to work, most likely we will not see another round of stimulus, much to my personal disappointment,” she said.
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