The Center for Retirement Research at Boston College looked at whether those cash infusions have helped improve Americans financial situation.
The answer: Stimulus checks did serve as a lifeline for those in need. But whether those cash reserves will hold remains to be seen.
Congress authorized the first stimulus checks of $1,200 per person in March 2020. Subsequent payments of up to $600 and $1,400 followed in December and this past March, respectively.
In total, individuals could have received up to $3,200 and married couples up to $6,400. In addition, there was up to $2,500 available per qualified dependent. While eligibility rules varied per payment, whether or not individuals were employed at the time was generally not a qualifier.
Allworth Advice: Why a full Social Security benefit isn t always guaranteed
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Mothers Get Less Social Security – And It s a Big Problem
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