What to do with BIG tax refund?
#16
Pole Position
iTrader: (1)
This might help -- http://www.bankrate.com/brm/itax/tips/20010124a.asp
#20
remember. a tax refund from your filings isn't really new money. It's money you shouldn't have paid in the first place... so it's not like you really got something out of the blue.
#21
As someone already mentioned, you're giving the government an interest free loan. That's a very poor use of one's money. I'd love for the original poster to give me $800/month...I'd stick it in my E-trade account and earn an easy 5% on the money...then I'd give him his money back at the end of the year.
#23
Maybe we should close this thread since it is going towards financial advice, I have decided to save it, I just need to know where to put it to yield the highest gain or interest, I currently use BOA. Which savings account interest rates suck. I hear etrade bank savings is at 4.4 Which sounds pretty good? If you have ideas for TRUE financial advice please pm me. Thanks again to all.
#24
Lexus Test Driver
Put the money in the bank. Get a jumbo CD and forget about it for the next several years. DON'T use that money to get out of your lease; that would be like lighting a match under it.
#25
Lexus Fanatic
Yes, Save the money, I am sure your car looks awesome as it is and drives great. Save Save save!!! You will be much more happy. I would like to reccomend a Simple IRA!!!! You will be so happy you did it down the road. Cars are such a bad investment, but we all love the,. it is my most wasteful hobby!!!
#26
i agree...invest in that 10k....cuz then later in the future you'll ask us again, "what should i do with $100,000"? you'll look back and think dayam...good thing i invested in that money. =)
#28
Lexus Champion
Don't be stuiped with your money.... Especially in times like these... There is a could be resession on hand. Keep the car that you have and bank the 10k. Thats what i would do...
#30
Lexus Diva
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As someone already mentioned, you're giving the government an interest free loan. That's a very poor use of one's money. I'd love for the original poster to give me $800/month...I'd stick it in my E-trade account and earn an easy 5% on the money...then I'd give him his money back at the end of the year.
Now you're talking!