4 Things To Do With Your Tax Refund
FOR IMMEDIATE RELEASE
Contact: Erin Macdonald-Birnbaum
856-489-8654 x302
erin@smithpublicity.com
As tax season is upon us, many Americans are crossing their fingers that they will get a refund this year. As of November 2009, the most recent month in which statistics are available, the average refund amount for 2009 is projected to be $2,836.00. About 75 percent of all taxpayers who file returns for 2009 are expected to receive a refund from the IRS.
So as a lot of people will have some extra money in their bank account this year and as the economy is still on a roller coaster, it is important that they have some concrete financial options on what to do with their refund check.
Financial planner and retirement coach Bill Losey can reveal 4 simple and easy things to do with this year’s tax refund. I have included his sound suggestions below and hope you can share them with your readers.
Thank you,
Erin MacDonald-Birnbaum
856-489-8654 x302
erin@smithpublicity.com
4 Things to do With Your Tax Refund
By Bill Losey
Do you want to blow it on stuff you don’t need like a George Bush Bowl Buddy Toilet Brush, a Hillary Clinton Pez Dispenser, or a Barack Obama Talking Action Figure doll (I’m not making this up folks)? Or do you really want to use it to benefit yourself financially? Assuming it’s the latter (and hopefully it’s the latter), here are four more things you could invest in:
An Emergency Fund: Consider adding some or all of these monies to your own slush fund. Given the uncertainty of the economy and jobs nowadays, you should always try to maintain at least 3-6 months worth of living expenses in a savings account, money market account or CD in case of an emergency.
Pay Down Your Credit Card Debt: Consider applying this money to any outstanding debt you have such as credit cards. Eliminating that pesky balance that never seems to disappear could save you hundreds or thousands of dollars in interest over your lifetime.
Fund an IRA: If you have some years before you retire, consider starting or investing the money in a Roth IRA. Any earnings grow tax deferred inside the Roth IRA and distributions are tax-free when you take money out. Check with your tax preparer for distribution rules and regulations please.
Reward Yourself: When was the last time you took a vacation or did something nice for yourself? If you have to think abut it, it’s been too long. Book a trip or weekend getaway. Get a massage or spa treatment. You deserve it!
Bill’s Bottom-line: Meet with your employer and adjust your tax withholdings for next year. A tax refund is simply an overpayment of taxes to the government.
Bill Losey, CFP®, CSA, America’s Retirement Strategist®, is a highly sought-after advisor, retirement authority, thought-leader, author and TV personality because he makes the complicated and mundane topics of investing and retirement fun! Bill has over 20 years experience in the financial services industry and is a Certified Financial Planner practitioner, a Certified Senior Advisor and Certified Retirement Coach. He is the author of Retire in a Weekend! The Baby Boomer’s Guide to Making Work Optional (a 2008 Finalist at The Indie Excellence Book Awards), Founder of National Retirement Planning Month, and he publishes Retirement Intelligence®, an award-winning weekly newsletter that reaches thousands of subscribers worldwide. For a complete bio, please visit, www.BillLosey.com.
Retire in a Weekend! can be purchased from www.retireinaweekend.com and www.amazon.com
Website: www.BillLosey.com
