Your income tax returns have been sent for several weeks when you learn that you are receiving a tax refund. Joy!
What are you going to do with the unexpected amount that will be deposited shortly in your bank account? What if you invest it for your retirement? Exciting, right?
Ok, maybe not. We understand that you are tempted to rather invest it on your tan by offering yourself a trip to the beach. However, since the sun is not good for your skin, saving for your retirement is a much safer plan for your epidermis. Not only will making that gesture provide you with a deep sense of accomplishment, but it will prevent you from suffering from an urticaria attack. Because yes, not saving enough for your retirement could one day cause you a lot of stress.
By investing your tax refund in a savings vehicle, your retirement nest egg will increase, and furthermore, your taxable income will be reduced. You could therefore pay less taxes the following year! Isn't that brilliant?