When I was a kid, my grandparents would always send me and the rest of my family members checks for Christmas (as well as some presents like underwear and socks). There are eight kids total in my family, making a $20 check/child a considerable investment on their part. They were grandparents… retired. Their monthly income consisted of a pension plan and social security. But a $160/year investment into their grandchildren’s futures was well worth it. Also, $160 was about equal to $500 in today’s money.
Interestingly enough that is about the same amount of money that the Federal government is going to be sending 130,000,000 people in less than two months. Each check from my grandparents was enclosed in a card that said something along the lines of “Don’t spend it all in one place.” Just a thought for those Federal checks.