Over 91 million American households have already received a tax refund in 2024. Only a small group of those households will take the extra step to turn that money into a much more valuable asset.

Just 9% of Americans plan to invest their tax refund, according to a January survey from Bankrate. Interestingly, 28% of respondents said they plan to put the money into savings. While there are plenty of reasons to keep a balance in your savings account, the big discrepancy between people planning to save versus invest suggests many people don't know what they'd invest in.

The good news is it's never been easier to invest your money. You don't need to be a genius to take your tax refund and turn it into a much more valuable asset. You could turn this year's tax refund into a whole lot more with one simple Vanguard ETF. Here's how.

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Source Fool.com