Do this Amazing Simple Trick With Your Tax Refund. Your Financial Life Will Never Be The Same!
Tax filing season is upon us, and you can never avoid it! For some who expect a refund check, this is welcoming news. For others who may owe the IRS, this is one of the more stressful times of the year. If you are one of millions of Americans expecting a refund check this year, this simple use of your refund check will change your life forever.
Ways to use your tax refund
There are many ways to use your tax refund, including setting up an emergency fund, making home improvements, donating to charity, shopping, paying down debt, among others. Although these are all good use of your tax refund, this simple amazing trick may be the absolute best choice: paying yourself like a boss and reaping the rewards for years to come.
Pay yourself like a boss: invest your tax refund!
Paying yourself like a boss with your refund check is one of the best investments you can make in yourself. Specifically, I'm referring to taking a small portion out and investing it in the stock market. Let compound interest take care of the rest and build you wealth. You can open and contribute to an IRA, a brokerage account, or a micro investing account. The benefit of doing so is that once you have set a portion aside in an investment account, you are less likely to take that money out. Here are some investment options for a small portion of your refund check.
What you should invest your tax refund in
The options are numerous. If you want to be a passive investor, a micro investing account may be your best choice and you can earn free money. For the active investor who prefers a more hands-on approach to investing, index funds or mutual funds can be very smart investments over the long haul. Setting up just $50 , $100 or more from your refund check is a smart way to pay yourself. Here's how to invest $50 | how to invest $100.
The bottom line
As we just discussed, there are many ways to use your tax refund. But we believe that investing a small portion in the stock market is a simple, powerful and amazing option--one that will allow you to reap financial rewards for years to come. After all, you are a boss. Pay yourself like the big boss that you are.
Like this article? Please share and leave us your feedback in the comment section and help us improve and grow. Subscribe below to get our latest articles. Here are a few more articles you may find useful: I buy the U.S. economy with a single index fund. The initial result is stunning! | How to earn free money as a micro investor | Myth debunked: you don't need a lot of money to start investing | How to invest $100 | Stocks vs. index funds vs. ETFs: what's the difference? | A simple 7-fund investment portfolio to help maximize your returns.