Here's How Much You Can Make From Investing Your Tax Return Every Year
It's tax return season, which means for many people, they'll be receiving some additional cash soon in the way of a tax refund. Given inflation, many households will rightfully spend that money to help pay bills and cover rising expenses.
But if you're in a strong-enough financial position when you can afford to do so, you should consider investing that money. I'll show you how much you would be able to grow your portfolio's balance if you invested your tax return every year.
The average tax refund is typically around $2,000 per year. That's not a huge amount of money to invest in stocks. But if you invest that amount each year and allow it to build off the previous year's gains, it could snowball into a much larger amount in the long term, through the power of compounding.
Source Fool.com
