Who’s Paying for the Stimulus Anyway??

I’m not too excited about getting another stimulus check. In fact, I wasn’t in favor of getting the first two. Granted, I’ve taken the money and applied every penny toward my mortgage…which has expedited our payoff timeline. But I would have rather taken one more year to make the extra payments myself.

Why am I complaining about getting extra money from the government?

Because I know someone somewhere sometime is going to have to pay it back. You see, I know that money doesn’t grow on trees and isn’t free for the taking. Every dollar you get comes from someone else somewhere. I didn’t work to earn that money and I didn’t agree to repayment terms for any loan. But I know that somehow someway myself or someone else will have to replenish the account where that came from.

Through some basic and casual research I learned that this money is being borrowed against by the very people who are receiving it. Social security, mutual funds, government bonds, etc are all the source of funding. And that funding will be repaid by the people who contribute to those accounts…as well as every tax paying American in the future generations.

For me, that’s a scary situation to be in. Now I don’t fully understand how the money is moved around, accounted for and distributed. But the reality is that Peter is being robbed to pay Paul. And at some point, Paul will be expected to Peter back with interest. Personally I’d rather be Paul’s friend who just makes his own money.

I do understand that some families have relied on this financial assistance to keep the lights on and food supplied. There were many families that lost nearly everything and had nothing to fall back on. My heart goes out to those people and I hope this assistance will give them the buffer they need to get back on their feet. For everyone else, myself included, I’d prefer the government let me earn my own money and spend it as I see fit.

Unfortunately, that’s not likely to happen in the near future. So in the meantime, I will take the stimulus check and pay off my mortgage a year or so sooner, allowing me to free up my income to invest and build wealth. And hopefully not be expected to pay back with interest what I didn’t ask for in the first place.

If you need input on what to do with the thousands of dollars the government is offering, I encourage you to book a free consultation and get expert advice. You may be able to make a great impact with the check in your hand. Click here to schedule a call.