Sit on it! … Kathleen Pender tells U.S. taxpayers what they can do with President B—‘s “tax refund.”
If you’re swimming in debt, there’s no better return on investment than paying down loans with double-digit interest rates.
If you’ve got a youngster, you could put $600 in a tax-sheltered college savings account. With an 8 percent annual return, in 18 years you’d have $2,398, according to brokerage firm A.G. Edwards.
A $600 investment in a stock mutual fund, earning 10 percent a year for 20 years, could grow to $4,036 before taxes, Edwards says.