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Missed Fortune – How Should You Use Your Income Tax Refund?

Posted on | May 3, 2009

How should you use your income tax refund?

We want to welcome Three new stations to Missed Fortune Radio: KTSA 550 AM in San Antonio, TX and KCBQ 1170 AM and KPRZ 1210 AM San Diego, CA

How to protect yourself from economic storms.  How to convert your tax refund into a $300,000 retirement fund.  How to redirect otherwise payable income taxes to causes that you support, including your own retirement.

I’m flabbergasted how many people overpay their taxes.  Right now many of you are probably going to be getting an income tax refund in the next few weeks.  You’ve been lending your extra money to the government and they don’t pay you interest on that money, even though they’ve been using it for the last year.

Do you know that for every $1,000 dollars that you get back for your income tax refund, you could have $100,000 during retirement?  If you put that $1,000 dollars away in an investment every year you could have over $100,000 in just 25-30 years at a 7% return.

Instead of consuming it, what if you invested (conserved) it?  What Dave Ramsey and Suze Orman don’t understand about life insurance.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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