Getting a Tax Refund?

1. Savings Account Injection

When getting a tax refund, remember our saving’s rule.. having a cash backup balances the volatility of emotions when it comes to our finances. The more you have in this account the more confident you become and the way you handle money changes. You are more empowered and emotionally stable around your financial situation.

So, when getting a tax refund, save your refund into your savings account. Cash is the ultimate emergency back-up. Then, with your cash behind you, you can go ahead and confidently choose what you do after that.

That’s one way that will change your life when getting a tax refund.

P.S. Maybe cutting up your credit card and start paying that ‘sucker’ (or suckers) off. Escaping the credit card merry-go-round is definitely another bonus way that will change your life.

2. Protect yourself (and your love ones)

Sitting down after getting a tax refund with an estate planning lawyer and drawing up a will, will help you navigate the ‘death taxes’ that is inevitable for all of us: capital gains tax, stamp duty, and income tax. And also, for those with adult non-dependent children, a 32% tax slug on your super.
Perhaps a testamentary trust would also be a good investment. Plus enduring power of attorney and medical power of attorney would be wise.

No matter what age, death and taxes are certainties in life: So after getting a tax refund, why not protect your loved ones after your untimely demise from the ever increasingly, greedy tax man.

That’s another way, when getting a tax refund that will change your life. Getting this sorted is the best and final way you say ‘I love you’ to the people you love the most.

3. Invest for the long term

After getting a tax refund, having a roadmap for long-term wealth through investing is important, and the best way I can serve you is by working hard to find you the best possible investments that fit with your goals and financial objectives.

If you’ve got an idea of starting an investment portfolio, use your tax refund money to kick-start it once and for all. Or, want to review what you have, using your refund money is a good way to reassess and invest in what is best for you right now and moving forward.

These days you don’t need to put in much more than a couple of grand to get started: after getting a tax refund, starting with a good plan is your first step. And earning money and compounding along the way is another way that will change your life. You can read our post about successful investing here

Getting a tax refund? Final idea!

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Need Help?

We can help you sort out your future plan, get you clear on your financial and lifestyle goals and also give you unbiased personalized wealth and retirement planning advice that lays out your options without the hard sell.

And if you are new to us, your first ‘discovery’ meeting with us is fee-free and obligation-free. Thereafter we charge you an hourly or fixed fee, just like your plumber does. Or, become and ongoing client and get way more value for money! It rocks. 💰📈