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
