FOUNDER
FOUNDER AND PRESIDENT OF IMPERIA AND WEALTH MANAGEMENT. 916-321-3310.
KIMBERLY, WELCOME, LET'S GET
THE FIRST TEXT COMING IN.
WHO QUALIFIES FOR THE STIMULUS
CHECK, WHAT IS THE HIGH-END OF
PEOPLE WHO COMBINED INCOME OR
INCOME -WISE THAT WILL NOT GET
THIS?
>> SO, WALT, A FEW MAKE $75,000
OR LESS, YOU WILL GET $1200.
IF YOU ARE MARRIED, FILING
JOINTLY, $112,500, QUALIFIES
YOU FOR THAT.
ANYTHING THAT KIND OF PHASES
OUT OVER TIME, BUT THAT IS
REALLY THE STIPULATION.
AND YOU WILL GET $2400 IF
YOU'RE MARRIED.
>> OKAY, NEXT ONE COMING IN,
PEOPLE ARE WONDERING ABOUT THIS
FOR THE PEOPLE THAT DON'T HAVE
DIRECT DEPOSIT, WHO WILL GET IT
AUTOMATICALLY, HOW DO PEOPLE GO
ABOUT GETTING A CHECK VIA MAIL?
>> YOU KNOW, UNFORTUNATELY IF
YOU DON'T HAVE DIRECT DEPOSIT,
IT WILL COME VIA MAIL.
AND THEY ARE SAYING ANYWHERE
BETWEEN 4 WEEKS, TO A COUPLE OF
MONTHS.
WHICH IS NOT GREAT NEWS, I AM
SURE THAT AS THIS ROLLS OUT,
THEY ARE JUST DOING THE DIRECT
DEPOSITS TODAY.
AS THIS ROLLS OUT WE WILL FIND
OUT MORE INFORMATION ON HOW
QUICK THOSE PAPER CHECKS CAN
GET TO FOLKS.
>> WHAT DO YOU RECOMMEND,
KIMBERLY, FOR COUPLES TO SIT
DOWN, MAYBE ONE OR BOTH HAVE
LOST THEIR JOBS, OR THEIR
FURLOUGHED.
SITTING DOWN, MAKING A LIST,
WHAT DO YOU SUGGEST THAT PEOPLE
WHO HAVE SOME MONEY, WHAT DO
THEY PAY FIRST?
>> I THINK YOU MAKE A LIST OF
WHAT YOUR LARGE EXPENSES ARE, I
CALL IT MY SURVIVALIST, RIGHT?
FIND OUT IF YOU CAN DO A
FORBEARANCE ON YOUR MORTGAGE,
IF YOU DON'T HAVE THAT KIND OF
MONEY TO PAY FOR YOUR MORTGAGE,
OR YOUR RENT, YOU CAN DO
SOMETHING LIKE THAT WITH YOUR
MORTGAGE COMPANY, CHECK WITH
THEM.
REALLY FOR THOSE WHO CAN'T
AFFORD THAT, LOOK AT YOUR LIST
AND CARVE OFF THE NEEDS VERSUS
WANTS.
WE NEED FOOD, WE NEED SHELTER,
WE DON'T NEED NECESSARILY TO
HAVE SIX DIFFERENT STREAMING
OFFENSE, RIGHT?
WE DON'T NECESSARILY NEED TO
HAVE THAT.
I TURNED THAT DOWN, JUST IN
CASE.
I THINK WE ARE COMING OUT OF
THIS, I THINK WE WILL BE OKAY.
WE PROBABLY NEED TO TURN THAT
DOWN FOR THE NEXT I WOULD SAY 3
TO 6 MONTHS.
>> OKAY, FOR PEOPLE WHO ARE
WONDERING AND LOOKING AT THE
STOCK MARKET RIGHT NOW, I MEAN
THE DOW HAS BEEN UP LATELY.
SHOULD THEY BE INVESTING IN
SOMETHING IN PARTICULAR?
>> WELL, I THINK IF YOU HAVE A
GOOD PORTFOLIO, THAT IS
BASICALLY COMMENCED WITH YOUR
ABILITY TO STAY IN THE MARKET,
IF YOU'RE IN YOUR 40s AND YOU
HAVE A 6040 PORTFOLIO,
OBVIOUSLY THAT HAS COME OFF THE
HIGHS, YOU MIGHT WANT TO GO
AHEAD AND INVEST IF YOU'RE
DOING YOUR 401(K), SOMETIMES
THAT IS AN AUTOMATIC.
INVEST IN THOSE LARGE-CAP U.S.
COMPANIES.
THOSE ARE A GREAT THING.
OBVIOUSLY MUTUAL FUNDS, ETF'S
ARE A GOOD WAY TO DIVERSIFY,
UNLESS YOU HAVE A TON OF MONEY
AND YOU CAN BUY INDIVIDUAL
STOCKS.
I WOULD STICK WITH THE INDEX
LIKE THE S&P 500 IN YOUR LARGE-
CAP U.S.
>> YOU MENTIONED MAKING A LIST
AND PAYING FOR THE THINGS THAT
YOU REALLY NEED, FOR PEOPLE WHO
NEED TO DIP INTO SOMETHING,
SHOULD THEY DO THE CREDIT CARD,
ALTHOUGH THE INTEREST RATE IS
HIGH, SHOULD THEY GO GET A LOAN,
COULD THEY POSSIBLY GET INTO A
401(K)?
WHAT WOULD YOU SUGGEST AS THE
EMERGENCY FUND?
>> PRIORITY, IF YOU DON'T HAVE
3 TO 6 MONTH SET ASIDE, AND IF
YOU DO HAVE A KEY LOCK ON YOUR
HOUSE, THOSE LOANS HAVE COME
DOWN BECAUSE INTEREST RATES
HAVE COME DOWN BASICALLY 20.
THE SHORT TERM HE LOCKS HAVE
COME DOWN, THAT IS A CHEAP WAY
TO TEMPORARILY CREATE THIS
EMERGENCY FUND.
I WOULD STAY AWAY FROM THE
CREDIT CARDS.
THEY ARE NOT DEDUCTIBLE.
AND ALSO YOUR 401(K), WE
CANNOT, PLEASE DO NOT TAP INTO
THAT UNLESS YOU REALLY NEED IT.
THE