The Shakiba Report: How to make your tax refund work for you
5 Financial tips to help you spend that extra cash wisely
HOUSTON – Getting a tax refund this year?
If so, Trevor Shakiba, private wealth advisor with Ameriprise Financial, has some financial tips to help you decide what to do with that extra money.
“Make sure you are not getting too much back, because if you are, you need to adjust your withholdings and that’s particularly important right now, because in the new tax law changes, I’m not guaranteeing this, but the rates are lower this year,” Shakiba said.
He says $3k or more is the baseline for most refunds, but it is possible you could be getting more back this year, so just pay close attention to that.
Shakiba also suggests solidifying your balance sheet by attacking any high interest credit card debt you might have and building up your cash reserves.
You can also invest in education, 529's are a great way to save for college.
Also, you can still save in a Roth IRA for 2018, if you qualify and contribute by April 15, 2019.
And as always, reward yourself when appropriate!
Shakiba says it's imperative to celebrate the financial wins!
For more information or to request a complimentary consultation with The Shakiba Group, call 281-724-9917 or visit, www.theshakibagroup.com.
This article is sponsored by The Shakiba Group.
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