The coronavirus pandemic has laid waste to the global economy. U.S. economic activity is expected to fall by double-digits in the second quarter, and almost 30 million Americans have filed for unemployment since mid-March. In order to help support the economy, the U.S. government passed a massive aid package that sent money to almost every American family.
For many people, this extra cash presented a welcome opportunity to add to -- or maybe start building -- a nest egg. Another great way to put that stimulus check to use is by creating long-term wealth by investing it in stocks.
Three popular ideas for investing right now include beleaguered aerospace giant Boeing (NYSE: BA), beaten-down oil stocks, or just a low-cost index fund like the SPDR S&P 500 ETF (NYSEMKT: SPY). So what's an investor to do? Bet on a turnaround for troubled Boeing that could be years in the offing, stay with the safety and diversity of the S&P 500, or make a risk/reward investment in the oil patch?