Do you know how 401k matching works? You want 50% or 100% returns? It’s easier than you think, if you know how to work the job benefits properly. Unsure how this all works? Read.
Record Drop in GDP
US gross domestic product (i.e. our economy) contracted at a 32.9% annualized rate from April to June, the steepest drop dating back to 1947.
This was expected, given the massive closures of businesses and stay-at-home orders that went on in the quarter.
So, why does it matter? Well, the recovery is happening slower than expected, and the virus is raging across several states which could hamper recovery further.
What Does It Mean For You
More stimulus measures will likely come to pass from the Federal Government (look out for new government checks) and from Central Banks (those mortgage rates aren’t increasing anytime soon).
One thing to note – Congress hasn’t approved another round of those stimulus checks yet, and there are a lot of questions on whether they can come to a deal. Make sure you are planning your budgets accordingly.
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