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| It’s
almost that time of year again. No, we’re not talking about
the NCAA March Madness Tournament. We’re talking about
TAXES. This year, decide now to make the most of your refund.
According to CBS MarketWatch, tax refunds over the last two
years were up 40%, from an average of $2,009 to $2,818. That’s
nearly the maximum contribution amount that you can make to
your Individual Retirement Account. Of course, there are many
things you can do with your refund. Consider the following options: |
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Buy
two floor seats to the final round of the NCAA Basketball
Tournament.
You’ll likely see some great basketball, but so much
for the refund money.
Maybe you should consider Option 2.
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Take
a trip to Hawaii. Great weather, great beaches and lots
of sun. Sure it’s a long flight, but think about how
nice the sun will feel. But, after you return home, you are
left with no more refund money. Perhaps you should consider
Option 3.
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Put
$3,000 into a ROTH IRA account. Consider this, if you
are 40 years of age and make a one-time $3,000 contribution
to a ROTH IRA, earning a 10% rate of return,* your account
will grow to over $32,500 by the time you’re 65. If you
contribute that $3,000 every year, you’ll have an account
valued at more than $295,000. Plus, when you take your money
out of the ROTH IRA, it comes back to you tax free!** How
do you feel about your tax rebate decision now?
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* Investment
returns and principal value will fluctuate such that it is possible
to lose money.
** Tax-free
withdrawals apply after the age of 59 1/2 and after the account
has been opened for at least five years.
Look for more
information on taxes and investments in our next newsletter.
The information provided is for informational
purposes only and is not to be construed as a recommendation. Consult
your financial advisor to determine what is appropriate for you.
Past performance is no guarantee of future results
If you have any comments, questions or suggestions concerning this
electronic newsletter, please email us at fgi@fragassogroup.com.
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here if you do not want to continue receiving Fragasso Financial Advisors
eNews.
Visit Our Website:
www.fragassogroup.com
A REGISTERED INVESTMENT ADVISOR
The Retirement Planning and Wealth Preservation Specialists Since
1972
610 Smithfield Street, Suite 400, Pittsburgh, PA 15222
Phone 412.227.3200, Fax 412.227.3210, Toll Free 1.800.900.4492
Securities offered through Linsco/Private Ledger
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©2004 The Fragasso Group, Inc., All Rights
Reserved
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