Under normal circumstances, the government has strict regulations surrounding accessing retirement funds. But during the current pandemic, individuals and businesses have received certain benefits. More specifically, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has created some new options for investors.
On this episode of Investing in Real Estate, you’re going to learn about how to take advantage of options available to investors, the importance of finding the silver linings during difficult times, and why now is the time to start creating the life you want to live.
On this episode you’ll learn:
- What the CARES Act is.
- What benefits are available to investors under the CARES Act.
- And more!
What the CARES Act Is
“The Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed by Congress with overwhelming, bipartisan support and signed into law by President Trump on March 27th, 2020. This over $2 trillion economic relief package delivers on the Trump Administration’s commitment to protecting the American people from the public health and economic impacts of COVID-19. The CARES Act provides fast and direct economic assistance for American workers, families, and small businesses, and preserve jobs for our American industries.” (https://home.treasury.gov/policy-issues/cares)
What Benefits Are Available to Investors Under the CARES Act
Under the CARES Act, Americans now have easier access to funds inside their 401k or other retirement accounts. Previously, most contribution plans allowed the account holder access to $50,000 or half of their vested balance. Under the CARES Act, a participant can now borrow up to $100,000 or 100% of their vested account balance, whichever is less. This is a great means for investors to leverage their retirement accounts and build their own wealth. The funds could be used either to invest directly in real estate, or to lend to other investors.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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