Investing Your Tax Refund
March 16, 2022
Hopefully, you’ve had enough withheld from your paychecks to receive a tax refund this year!
But now you have to decide what you’re going to do with your tax refund – spend or invest it.
Instead of spending your tax refund on something non-essential, you could invest that same money and put it to work for you.
Why should you invest your refund?
Investing your tax refund is an easy and low commitment option to dive into the world of investing. This small show of discipline could pay off in the future.
Let’s say you haven’t saved as much as you’d have liked for your retirement. Investing in a lower risk portfolio could be the boost you need to jumpstart your savings.
Even if your refund isn’t as large as you’d like, that’s all the more reason to invest it. This low-risk threshold could create dividends that will only continue to serve you.
Or maybe you’re waiting for the perfect time to start investing.
Now is the time to invest.
If you’re hesitant to start investing because you’re waiting for the right time, you could be waiting forever. There is no perfect time to start investing. Investing is all about educating yourself, making informed decisions, cultivating a portfolio that aligns with your goals, and going for it. You could be missing opportunities while you’re waiting for the perfect circumstances.
Investment returns are never a guarantee, but with your refund, now could be the time to try your hand at investing.
Start thinking past tomorrow and start making financial decisions that could help your money work for you.
If this is your first time considering investing and aren’t sure how to get started, visit our library of resources where you can learn more about what investing means and how it could benefit you.