Tucker Insurance Agency Tips for Getting More Return on Your Tax Return
This article provides easy tips for making the most of your tax refund. The article was written by Allstate Personal Finance Representative Hyacinth Tucker who specializes in financial advising and selling life insurance. The Tucker Agency provides a variety of insurance products and resources that help many customers save money.
Crofton, MD, April 24, 2008 --(PR.com)-- This year consumers will receive an average tax refund of $2,287 according to the Internal Revenue Service. Many will be tempted to buy the flat screen TV they’ve been eyeing, or splurge on a tropical vacation. Before you go on a shopping spree, consider using your refund to make an investment in your financial future. Here are some smart ways to spend your tax refund:
· Contribute to or open an IRA. This retirement savings option allows you to save money on a tax-deferred basis, allowing your money to grow faster and help you reach your retirement savings goals. Both the traditional and Roth IRAs are great ways to save for retirement, although each offers different advantages. Speak to a financial professional to discuss which option would be most appropriate for you. Keep in mind that the current IRA contribution limit is $4,000 for the 2007 tax year and $5,000 for the 2008 tax year.
· Set up an emergency savings fund. Some financial professionals recommend keeping enough money stashed away to cover one year of unemployment in case of an emergency. By being prepared you won’t have to borrow if the unexpected happens.
· Start or add to a college fund. If you’ve got kids headed to college, put your refund in a 529 College Savings Plan. 529 plans are state-sponsored plans that allow invested money to grow income tax-free to pay for qualified educational expenses.
· Purchase a CD. If you don’t need immediate access to your funds, you may benefit from the fixed interest rates available with a Certificate of Deposit. You can buy a CD with a maturity or holding period as short as 30 days or as long as five years.
· Buy life insurance. Life insurance helps ensure your family’s financial needs are met, even after you are gone. There are two basic types of life insurance: term and permanent. Deciding which type may be appropriate for your needs will depend on how you want the life insurance to work for your family. A financial professional can help you determine the type and amount of protection you may need.
When that tax refund shows up, it can be a great reminder to review your finances and make sure you’re on the way to meeting your financial goals. Consider consulting with a financial professional to review your current insurance and financial needs and see if you have what you need to protect what you have today and prepare you for tomorrow.
Hyacinth Tucker, is an Allstate Personal Financial Representative located at 1660 Village Green Suite 203 Crofton, MD 21114
Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA.) Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE 68506. 877-525-5727.
Life insurance and fixed annuities issued by Allstate Life Insurance Company, Northbrook, IL and Lincoln Benefit Life Company, Lincoln, NE. In New York, Allstate Life Insurance Company of New York.
###
· Contribute to or open an IRA. This retirement savings option allows you to save money on a tax-deferred basis, allowing your money to grow faster and help you reach your retirement savings goals. Both the traditional and Roth IRAs are great ways to save for retirement, although each offers different advantages. Speak to a financial professional to discuss which option would be most appropriate for you. Keep in mind that the current IRA contribution limit is $4,000 for the 2007 tax year and $5,000 for the 2008 tax year.
· Set up an emergency savings fund. Some financial professionals recommend keeping enough money stashed away to cover one year of unemployment in case of an emergency. By being prepared you won’t have to borrow if the unexpected happens.
· Start or add to a college fund. If you’ve got kids headed to college, put your refund in a 529 College Savings Plan. 529 plans are state-sponsored plans that allow invested money to grow income tax-free to pay for qualified educational expenses.
· Purchase a CD. If you don’t need immediate access to your funds, you may benefit from the fixed interest rates available with a Certificate of Deposit. You can buy a CD with a maturity or holding period as short as 30 days or as long as five years.
· Buy life insurance. Life insurance helps ensure your family’s financial needs are met, even after you are gone. There are two basic types of life insurance: term and permanent. Deciding which type may be appropriate for your needs will depend on how you want the life insurance to work for your family. A financial professional can help you determine the type and amount of protection you may need.
When that tax refund shows up, it can be a great reminder to review your finances and make sure you’re on the way to meeting your financial goals. Consider consulting with a financial professional to review your current insurance and financial needs and see if you have what you need to protect what you have today and prepare you for tomorrow.
Hyacinth Tucker, is an Allstate Personal Financial Representative located at 1660 Village Green Suite 203 Crofton, MD 21114
Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA.) Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 2920 South 84th Street, Lincoln, NE 68506. 877-525-5727.
Life insurance and fixed annuities issued by Allstate Life Insurance Company, Northbrook, IL and Lincoln Benefit Life Company, Lincoln, NE. In New York, Allstate Life Insurance Company of New York.
###
Contact
Tucker Insurance Agency
Hyacinth Tucker
410-451-8701
allstate.com/HTucker2
Hyacinth Tucker
410-451-8701
allstate.com/HTucker2
Contact
Categories