Invest your refund.

[Ron 10]

Its tax time and here is a little idea for people to do.

Invest your tax refund in your future.
If you have credit card debt...Send your refund in.
If you don't have debt invest it.

My first refund from this job I bought company stock.
I invested 970.00 in 1993. Today its worth 6,788.52 a 578.85% return.

If you put your refund into an IRA it will increase your refund.

I have not done this every year, but it is an easy way to invest.

"No free man shall ever be debarred the use of arms." -- Thomas Jefferson, Thomas Jefferson Papers, 334

[Randy_H 0]

I agree with everything you have said.

If you have credit card debt, put your refund towards that debt. The interest rate you would yield on an investment would be considerably less then the interest rate you pay on your credit card.

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My first refund from this job I bought company stock.
I invested 970.00 in 1993. Today its worth 6,788.52 a 578.85% return.

Excellent! Except for those damn capital gains taxes.

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[Stiner 0]

I agree, too! Although, this year I invested my refund into my AFF! It sure is a lot more fun than making an IRA contribution!

[NWFlyer 2]

Mine is being invested in gear, I must admit.

Then I'm filling out a new W-4 so I stop giving the IRS a no-interest loan every year.

"There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences." -P.J. O'Rourke

[jumper03 0]

Quote

Its tax time and here is a little idea for people to do.

Invest your tax refund in your future.
If you have credit card debt...Send your refund in.
If you don't have debt invest it.

My first refund from this job I bought company stock.
I invested 970.00 in 1993. Today its worth 6,788.52 a 578.85% return.

If you put your refund into an IRA it will increase your refund.

I have not done this every year, but it is an easy way to invest.

I hate people that get refunds.....

Scars remind us that the past is real

[mouth 0]

Thanks Dad. Mine went to fund my IRA and the rest I've put away for a trip abroad. No credit card debt as I pay that baby off every month.

So now I just need to figure out where exactly and when I'm hitting Europe.

--
Hot Mama
At least you know where you stand even if it is in a pile of shit.

[gjhdiver 0]

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Its tax time and here is a little idea for people to do.

Agreed.

This year, I plan to invest all of my refund in Amalgamated Hay and rutubaga futures.

[Thanatos340 1]

Definately sound advice.

Also I would like to suggest to people that it is NOT too late to open or add to an IRA and still claim that on your 2004 Tax return. I was helping a Friend with their taxes last night and noticed that they had not started an IRA but had some money in a savings account that was just sitting there and had been for years. I had them go this morning and move that Money to an IRA and that alone got them an extra $400 on their return. If you open an IRA before April 15, you can claim that on your 2004 tax return.

[Ron 10]

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This year, I plan to invest all of my refund in Amalgamated Hay and rutubaga futures.

Let me know how that works out for ya

BTW I am surprized you know how to spell rutubaga....Well to be honest I don't know how to spell it so you may have it wrong and I would not know.

"No free man shall ever be debarred the use of arms." -- Thomas Jefferson, Thomas Jefferson Papers, 334

[rehmwa 2]

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Then I'm filling out a new W-4 so I stop giving the IRS a no-interest loan every year.

That's the stuff. I plan it so I pay a bit every year. Let the government wait for the money.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Dougiefresh 0]

And if you're going to invest, invest early. If you start putting away the maximum to your IRA (3000 this year, up to 5000 in coming years) at age 25, you can retire a millionaire with a 10% return, which isn't hard to find with a good mutual fund.

Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so. --Douglas Adams

[jtval 0]

actually I believe the ROTH just went up to $4000 this year.

since Ive had that set up for 5 years now I think I may get into some stocks this year as well.

I got a lot to lewarn about that though

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[ACMESkydiver 0]

What refund??

Can I have yours??

~Jaye
Do not believe that possibly you can escape the reward of your action.

[Gravitymaster 0]

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And if you're going to invest, invest early. If you start putting away the maximum to your IRA (3000 this year, up to 5000 in coming years) at age 25, you can retire a millionaire with a 10% return, which isn't hard to find with a good mutual fund.

Yep. Hopefully, the amount you can put in a retirement account will continue to increase even more in the future. I can't understand why there should be any restrictions on how much you save for retirement (actually I do know why but this isn't SC ).

[Casurf1978 0]

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Then I'm filling out a new W-4 so I stop giving the IRS a no-interest loan every year.

That's the stuff. I plan it so I pay a bit every year. Let the government wait for the money.

I do the same thing. This year I will owe of few hundred bucks. To me getting a refund is like giving the gov an intrest free loan.

Good advice too Ron. Too many people blow their refund on a new car or other things.

[kallend 2,153]

Quote

Quote

This year, I plan to invest all of my refund in Amalgamated Hay and rutubaga futures.

Let me know how that works out for ya

BTW I am surprized you know how to spell rutubaga....Well to be honest I don't know how to spell it so you may have it wrong and I would not know.

Of course he can spell, he was educated in the UK.

...

The only sure way to survive a canopy collision is not to have one.

[slug 1]

Quote

actually I believe the ROTH just went up to $4000 this year.

since Ive had that set up for 5 years now I think I may get into some stocks this year as well.

I got a lot to lewarn about that though

According to the Talking heads of wall street.

Your IRA funds are (should be) 30-40 year money or until you have to start withdrawing by age 70 whichever comes first.

So the stock market which is also a long term is a good place to park some of your money, and the closer you get to retirement
When we first tried this to bad so sad put our egg in one basket. Listened to the talking heads again and put some eggs in a index mutual fund.These funds mimic the S&P 500, DJI, etc. so they are diversified. You can check out the perfomce of the S&P etc and then pick a no load/low annual fee mutual fund company.

Of course if we had invested in completly in Microsoft things would be different. But that takes a lot of work to dig out the stars from the dogs.

With IRA's the immediate tax deduction and the deferred taxs on the gains (even better if your employer match's some) it's a no brainer, if you gotta have fun
R.I.P.