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New Bill for Stimulus Checks | $5000 Second Stimulus Check Update - YouTube
Channel: Jarrod Sampson
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What's going on YouTube and welcome back
to the channel. Now you may have heard
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earlier this week that there was a new
proposal plan that was introduced by
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Jared Kushner to be taken into
consideration. I want to talk a little
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bit about that in this short video today.
If you're looking for a channel to
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update you on the latest information and
keep you up to date make sure you
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subscribe to this channel, my name is
Jarrod and I post helpful bits, tips, and
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tricks every single Friday, however, I am
dedicated to giving you the latest and
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greatest information to make sure you
know what's going on in today's economy
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so you can stay well informed. If you'd
like to learn about your retirement and
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get there earlier, make sure you hit the
subscribe button, hit the notification
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bell so you know when I post different
videos each and every Friday, but let's
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get into the Eagle plan and figure out
whether or not it's a scam. Also let me
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know in the comments below what you
think about the Eagle plan and how you
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feel that it would affect Americans if
this proposed plan did get passed,
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and also you, yes you, I know that you're
watching this and I need you to take
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advantage of free money, use the referral
link down below to WeBull and deposit
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$100 when you sign up, when you do you
get two free stocks valued up to $1400
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but you must do this today, because there
is an expiration date on this, so use the
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referral link down below which is my
referral link you'll also help me get a
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free stock as well and who doesn't like
free money! Now to make this video short,
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sweet, and to the point so I don't bore you
with a long 10 minute update video,
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this proposal announces $10,000 for Americans to get upfront in
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exchange for curbing their retirement
benefits such as social security, this
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will mean that you can get two $5,000 checks which will equate
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up to $10,000 and of course
this proposal was made by Donald Trump's
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son-in-law and senior advisor Jared
Kushner that was proposed to the White
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House now if you're millennial watching
this you may not exactly know what
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social security is so let me explain it
to you.
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Social Security is a pay-as-you-go
program where you can take out benefits
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as early as 62 years old,
however, those benefits will be reduced
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if you are 66 years old and two months
you are able to take out the full amount
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of Social Security, it goes up the to
67 years
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and born up to 1960 to take out the full
benefit, if you are born after 1960.
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That may sound a little bit confusing
but let me explain it to you this way if
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you are millennial at this point in time
you must be 67 years old to be
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able to take out the full amount of
Social Security but you can take out a
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reduced amount when you turn 62, does
that make sense? I think it makes sense,
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hopefully it makes sense now the
important thing to note here is that you
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know if you're eligible or not to
receive Social Security benefits if
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you're being taxed on SSI which is a Social
Security income tax now this plan is not
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ideal for plenty of reasons, however, the
easiest reason to note that this is not
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ideal is because we want to save more
money from retirement, not less so you're
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able to live comfortably. Your future
self is supposed to be thanking you for
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saving more money when you're young this
only makes your future self want to come
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and smack you from the future because
you've robbed yourself of a good
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retirement and more money for a
comfortable lifestyle when you're older.
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This plan also has some similarities to
another plan that was introduced which
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was the plan to be able to take out of
your 401(K) without having a penalty to
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be able to fund your life now in case of
disasters happening or emergencies, this
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has the same effect because you're
robbing yourself of future money later
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on in your golden years. Don't forget
that money has value over time as well
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so that money that you take out now is
going to have an effect on you later on
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because you have so much more money
later if you just left it alone
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instead of trying to take it out now and
having it back later in your golden
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years. If you're not on the borderline of
being homeless or dealing with a major
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financial stress that will put you out
on the street with no other options, well
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then it's not gonna be worth it for you
to rob yourself from your retirement.
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Even during this time if you use and
apply yourself correctly such as getting
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those two free stocks from WeBull you
can be able to turn your financial
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situation around right now. You might be
in a corner, but sometimes the best way
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to work is when your back is up
against the wall, think about all the
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opportunities that
come that you have not explored and that
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you haven't already used this could be a
great time if you're relying on one
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primary source of income to fuel you and
your family, to make sure that you
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diversify your income streams and study
the 7 income streams of
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millionaires to be able to expand your
wealth. Now during this age of the
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coronavirus and COVID-19, it does
suck to be enough financial bind, however,
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there are plenty of tools and
opportunities for you to be able to turn
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your financial future around, I've made
plenty of videos on this already talking
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about being able to get more interest in
your bank accounts, being able to get
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bonus money for making those bank
accounts, and be able to get more money
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from free stocks using WeBull and other
platforms like Robinhood using the
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referral links down below. Now the moral
of the story is if there's a plan asking
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you "hey do you want to take out money
from your retirement so you can fund
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your life right now so you can buy a
bunch of extra toilet paper?" the answer
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should be no! You should always be weary of
taking out money from your retirement or
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money that you save in order to do
something that is just an event or a
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situation that is only temporary. Make
sure you review the videos that are up
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here that are about getting more bonus
money on opening your accounts and
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getting more money through compound
interest in high-yield savings accounts,
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also you can watch the last video for
the last update about the second round
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of stimulus checks and whether or not
those stimulus checks are on their way.
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If you learn anything from this update
please make sure you hit the subscribe
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button hit, the notification bell so you
get notified when I post my normal videos
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on Friday about stock market, real
estate, and personal finance, hit the
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thumbs up for the YouTube algorithm and
let me know that you've watched and
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enjoyed this video, find me on Twitter
where I talk about stocks and real
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estate daily, also find me on Instagram
where I'll also post there as well. Make
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sure you're safe and healthy during this
time and remember to invest in your
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health and your wealth and those are the
two most
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important things that you can do right now,
stay safe out there and I'll see you guys later!
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