2007-01-18 07:57:58 · 11 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Pay off your high interest loans, like credit cards. Pay down your mortgage (you'll save on interest).
Save for retirement.
If you have children, save for their college.
2007-01-18 08:02:25 · answer #1 · answered by Coda2 3 · 0⤊ 0⤋
WOW!
First, you need to adjust your withholding ASAP. You shouldn't get money back. Ideally you want to owe a little bit. This means you've had access to all of your money all year instead of giving the government a free loan.
Second, if you have any consumer debt (credit cards, car loans, etc) you should pay them off.
Third, if you have no debt or have money left over, you should open and fund a Roth IRA. $4000 for 2006 and put the other $2800 in for 2007 then continue adding to it througout the year.
Finally, if you have no debt and have already maxed out your Roth for 2006 and 2007 you should buy yourself something nice with 5% of it and invest the rest.
Good luck!
http://www.personalfinance101.org/?utm_source=YH&utm_medium=link
2007-01-18 16:08:16 · answer #2 · answered by personal_finance_101 3 · 0⤊ 0⤋
if you don't have a 401k or retirment account, start by dropping a bundle there. With tax breaks, it's like getting a guaranteed 25% + return on your money in the first year. Compounding over the next dozens of years can make it worth hundreds of thousands by the time u retire
2007-01-18 17:02:45 · answer #3 · answered by WealthBuilder 4 · 0⤊ 0⤋
1. Pay off credit cards and other high interest loans.
2. Fully fund your retirement plan for the year and next year (401K, 401B etc.) to be sure you get matching funds.
3 Take a road trip and see some of the natural beauty of your country. The national parks are awesome.
2007-01-18 16:08:59 · answer #4 · answered by gtoacp 5 · 0⤊ 0⤋
Give $680 of it to the charity of your choice. Use the remaining $6120 to pay off debt. If you're lucky enough not to have debt, I'd invest half and use the other half on a great life experience.
2007-01-18 16:07:49 · answer #5 · answered by Elizabeth G 2 · 0⤊ 0⤋
Stock
Invest it!
Why are you HOPING to spend it? How much money do you have saved for retirement? How much money do you have that is making you money while you sleep?
Put in an S&P 500 index fund for starters. If you find a better a better place, move it.
2007-01-18 16:41:30 · answer #6 · answered by Ender 6 · 0⤊ 0⤋
pay off your bills with most of it and go on a shopping spree for yourself...
2007-01-18 16:01:38 · answer #7 · answered by momof3 5 · 0⤊ 0⤋
Your debt.
2007-01-18 15:59:59 · answer #8 · answered by **PuRe** 4 · 0⤊ 0⤋
LOL!!! Do you need my mailing address????
2007-01-18 16:43:41 · answer #9 · answered by Weetie 3 · 0⤊ 0⤋
upscale hookers.
2007-01-18 16:07:08 · answer #10 · answered by Anonymous · 1⤊ 0⤋