What Will You Do with This Year’s Tax Refund?
If you’re like most taxpayers, you’re looking forward to getting a tax refund this year and it just might be a substantial amount. According to the TurboTax Official website, the average tax refund in 2014 was $3,116, and is expected to rise to $3,295 in 2015. That “extra” money can feel like a windfall, but while it’s all too tempting to spend a refund quickly and irresponsibly, investing it in your Roth IRA for the future can set you up for financial success in years to come.
If you are able to earn 7% per year on your investments, $3,000 invested every year for 30 years will potentially grow to $ 306,219.12*
*This is a hypothetical example for illustrative purposes only. It is not intended to reflect the actual performance of any security. Investments involve risk and you may incur a profit or a loss. Past performance does not guarantee future results.
Let Dowd Financial Services develop a long term investment strategy for your retirement dollars.
Call 413-437-1038 today to discuss your individual situation.