If you expect to receive a refund this year from your tax return, this is a golden opportunity to make that money grow. Instead of spending your refund on a vacation or new big-screen TV, there are ways to invest this money to create a more secure financial future. Forego the temptation to spend this extra money on items you do not need and consider the benefits of using it to build your financial portfolio.
Four Great Investments for 2018
For those new to investing, it can seem like a risky road. The ups and downs of the financial markets in recent years have made many people wary of investing. However, there are many options to make your tax return work for you in the years to come. Here are four great investments for 2018 to consider when your tax refund arrives.
- Stocks. Many financial advisors are pushing stocks over bonds in the current market. Mutual funds or exchange-traded funds (ETFs) are a good place to start for those wanting to dip their toes into investing in the stock market.
- Real estate. While your tax refund may not be enough to buy a piece of real estate, it could help with a down payment. Real estate is on the rise again and it is still a wise investment.
- Secure your retirement. A solid IRA is always a good place to put your tax refund, investing in your future. This should involve a diverse portfolio of low and higher risk investments that your financial advisor can help you choose.
- Yourself. Consider using your tax refund to invest in yourself and your future. Use the money for seminars, college classes or other betterment opportunities that could help your career or financial future.
By investing your tax refund in your future, you have the chance to make an impact on the prosperity of you and your family. It may not seem like a large sum, but if you are able to make investments throughout the year, no matter how small, it can add up to big returns down the road.
Get the Most from Your Tax Return
At MMKR, we offer a wide variety of accounting services for our clients, including individual tax preparation. Our team can help ensure you get every dollar you deserve for your tax refund and offer expert advice on options to reduce your tax liability. Let us help you get the most money back on your tax return. Contact us today to schedule an appointment with one of our tax professionals.
