Thinking of Investing Your Stimulus Check? Do These 3 Things First

On Wednesday night, the U.S. Senate passed a giant $2.2 trillion stimulus bill that included $1,200 payments to all U.S. citizens with incomes under $75,000, along with an extra $500 per child. For every $100 in income above $75,000, the stimulus check will drop by $5. The Senate bill still has to be passed by the House of Representatives, but it should either pass the bill as is or even add more benefits for average Americans, given that the House is controlled by the Democrats.

With the recent severe market decline, some people may be tempted to invest those dollars in the market as soon as they receive them. However, while now is a great entry point for long-term investors, make sure you've checked the following boxes first.

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Source Fool.com