Making Sense of the CARES Act

by Mike Branham, CFP®

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, designed to support individuals and businesses to weather the COVID-19 storm, is the largest aid and relief act in the history of the United States.

TPC has summarized the a few of the key programs that may be relevant to you: 

1. CARES Act for Individuals – Charitable Considerations
2. CARES Act for Individuals – Education Loan and Medical Cost Benefits
3. CARES Act for Businesses – Small Business Benefits
4. CARES Act for Retirees – Required Distribution (RMD) Allowances
5. CARES Act for Individuals – Recovery Rebates Explained
6. CARES Act for Individuals – Retirement Plan Access for Taxpayers

To stay up to date on the ever changing landscape of COVID-19, please be sure to visit our COVID-19 resource page.

Michael Branham, CFP®, is a Sr. Financial Planner in the Alaska and Twin Cities offices of The Planning Center, a fee-only financial planning and wealth management firm. Email him at mike@theplanningcenter.com.