The US Economic Stimulus Package Is Coming! Be Sure NOT To Invest In These Ideas!

| Mar 16, 2008 | 6 comments

Did you get this in your snail mail?

Pay good attention to it because it is your milk ticket to what’s coming down the pipes! MyInvestingBlog covered it earlier in the month and mentioned what the IRS had to say about it. Make sure you’re covered when tax rebate time comes around (May, or so the document says)!

It’s funny to think that they sent this out to every person in the US (roughly 300,000,000) when irs-stimulus-plan.jpgI’m sure 99% of the people knew it was coming unless you live on a island with NO access to any news.

That being said, how about saving the 41 cents it costs to send each of those out and add that $150,000,000 they saved to the Economic Stimulus package? :)

Several places have mentioned ways to best use the the stimulus package including on your mortgage, in your 401k, in your ROTH, in a high yield savings account, which are all VERY good places to put the money. But who has mentioned anything about where NOT to spend it? Here is a quick list of places you should NOT spend your stimulus package on:

1. Do NOT spend it on a solar powered flashlight.

2. Do NOT invest it in Thornburg Mortgage.

3. Do NOT buy a Hydracoach2.

4. Do NOT take out a loan on a Bugatti Veyron Or Bugatti Royale.

5. Do NOT buy a Cowhale hybrid.

I hope these ideas help you to realize where NOT to spend your tax refund. :) There are several much better places to spend your $$$ that will set you up later in life. Don’t waste this free money, it’s sent to us for a reason; climbing out and staving off a recession. Put it to good use!

Filed Under: Compensation • financial education • Net Worth • Taxes

  • http://thefinancialengineer.blogspot.com/ Kristin

    The notice was mailed out to remind everyone who they need to thank for the free money. George wants to take all the credit he can and then some.

  • http://www.freefrombroke.com/ FFB

    You can add Bear Stearns stock to that list.

    FFB’s last blog post..Lower Savings Rates and an Irrelevent Post

  • Pingback: Are The Tax Rebate Stimulus Checks Just a Crafty Way To Catch Cunning Criminals? | My Investing Blog

  • George Thompson

    Actually they sent out two letters- one instructing the people of America to do nothing and the I.R.S. will either send them the money or they wont. Then there was an additional letter letting those that qualified know that they would be receiving the money. Then there was the actual check, for those who did not file electronically.

    What’s roughly a dollar fifty times (for instance) 200 million?

    I made $23,647 in ‘07 (a record low for me over the past eighteen years or so) and have paid my taxes diligently over the years since I entered the workforce. I am a single dad with one dependent- a 4 year old son. Despite the fact that my construction company is failing and I’m in the pre-process of filing bankruptcy, I didn’t qualify for any economic stimulus money. Now I hear we might be receiving a tax cut or some token amount of money to save us from foreclosure. A little late for me. I’ll lose the house sometime in the next twelve months.

    In these coming hard times I’m shutting down my company (which employed 3-11 employees for the past eighteen years and about the same subcontractors at any given time- all of them locally born and raised, incidentally) and selling pretty much everything. My son and I are moving to the city where I have a job waiting and have family who can watch him during the day, this last year until he enters our substandard public education system. From there I suppose I will continue to observe our government catering to the big money in this country while pretending to listen to their constituency. Why? Because my vote doesn’t mean a thing when the only way you can get on the ballot is to play ball with the big money.

  • http://myinvestingblog.com hank

    @George – I’m sorry to hear about your situation, but it sounds like you’re still moving to a job that has something to cook up in the new city. As far as the government sending the 2 letters via snail mail – I can’t even begin to think about what that money could have done to help in other areas of the economy. Hell, anyone that reads the news could see the stimulus check referenced 100,000 times anywhere you look…

    Thanks for stopping by, and best of luck at the new job!

  • http://www.airpurifierfaq.com Angela

    the last quarter of 2009 seems promising as we have seen lots of signs of econic recovery against the massive economic recession. i hope that in 2010 all our economies would be back on track. recession really sucks.