April 2022

3 Smart Things to Do with Your Tax Refund to Make It Grow

If you’re one of nearly 126 million people expecting to receive an income tax refund next year (and that’s almost 75% of Americans), that’s probably the largest windfall you’ll receive all year. What will you do with that money? In 2020, the average refund was almost $3,000. More than 65% of refund recipients said they planned to use their refund money paying down debt or spending it on everyday expenses; 15% planned to spend it on a major purchase, like a vacation or big-screen TV.

What are Annuities and When Should I Start One?

Understanding annuities can be complicated with so many types of annuities available. They’re sold by insurance companies, but they’re referred to as investments. They may be a smart choice for some people, but they’re not for everyone (and they may or may not be right for you). They provide income for life that you won’t outlive, provided you pick the right insurer. You buy an annuity for the long term, knowing it likely won’t outperform the stock market in that time period.