Number One Way Millennials Can Invest in Their Future

It’s the time of the year where we are done filing our taxes and if you overpaid on your taxes you will be receiving a refund. There are many ways to put that refund to use.

One way is to consider increasing your Roth or 401 K contribution. Consider increasing your contribution rate for the rest of the year to match the refund amount. Look at your refund as found money and invest it for future years. It’s no secret that you are better off putting money aside early in life and no money later versus no money now and contributing later in life. This is due to compounding effect of money – earlier funding has more time to grow (compound).

So invest in your future now. Even if you can’t invest 100 % of the refund, consider investing 50 %; something is better than nothing.

Author: David A. Kinka, CPA, Chief Financial Officer

Copyright: Except as otherwise noted, the text and graphics provided on Johnson, Kendall & Johnson’s blog are copyrighted by Johnson, Kendall & Johnson, Inc (JKJ). JKJ does, however, permit visitors to make a single copy of information published on JKJ’s blog for their personal, non-commercial use or use within the organization that employs them. JKJ’s name, logos, and trademarks may not be otherwise used by the visitors in any manner without the prior written consent of JKJ.

Disclaimer: JKJ does not assume any liability or responsibility for the accuracy, completeness, or usefulness of the information disclosed at or accessed through the Johnson, Kendall & Johnson blog. Reference in Johnson, Kendall & Johnson blog to any products, services, processes, hypertext links, or other information, by trade name, trade mark, manufacturer, supplier, or otherwise does not necessarily constitute or imply JKJ’s endorsement, sponsorship, or recommendation.