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Saving for retirement
Saving for retirement
Michael Kruse
Refund: $1,017
Occupation: Civil engineer
Current city: St. Paul, Minn.

I put every single dollar of my refund into my Roth IRA. As a 25-year old with no real debt to pay off, I thought this was the best place for me to put the money, especially since the economy and markets seem to be improving and by the time I retire, you can pretty much bet that taxes will be higher and benefits for retirees will be lower.

Plus, at an average 8% return, this money will be worth more than $22,000 in 40 years, when I even start to think about retiring.

NEXT: Paying student loans, escaping for a weekend

Last updated April 13 2010: 9:37 AM ET
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