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Tuesday, March 5, 2024

Here’s how much you’ll make if you invest your $600 stimulus check for up to 40 years

Millions of Americans are set to get their second stimulus checks in the coming days.

The payments will be up to $600 per individual or $1,200 per married couple. Families will also receive an additional $600 per child under 17.

You are allowed to spend the money however you want, but a little sacrifice now can equal thousands of dollars down the road. You could park the cash in a savings account in the case of an emergency, but banks offer less than 1% interest rate on average.

If you already have a healthy rainy day fund, and a lot of patience, you could invest the check and watch your money grow exponentially using the power of compound interest. 

CNBC crunched the numbers, and we can tell you how much you can earn by investing your stimulus payment until retirement. Check out this video to see a full breakdown of the earnings for every age. 

More from Invest in You:

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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