• Shannon

America Saves Week – Save Your Refund


Total win for me today as a mom and a Retirement Plan Consultant. My 22-year-old son texted me today concerned about his tax refund. He is getting a sizeable return, especially for a 22-year-old. He asked me what he should do with his refund. The options he offered are:


  1. Put it all in his Roth IRA.

  2. Split it evenly between his IRA and his savings account.


I immediately broke into my happy dance and pumped my fists. I felt like the US hockey team when they beat Russia in the “Miracle on Ice”. As parents, we always wonder whether or not our children are actually listening to us when we speak. I oftentimes think all my kids hear is the teacher from the Peanuts cartoons. Then, they get older and wiser and it all comes together. Score one for mom today! I’m sure any parent would be proud, but as someone whose entire business revolves around helping others save for retirement by designing and developing retirement plans that works for both Plan Sponsors and their participants, this was huge!


Last year I wrote a post about the foundation my husband and I raised our children on when it comes to their finances. Saving has always been important, but it was also a struggle to help our kids see the importance of making saving non-negotiable and automatic. After years of whining, it seems the importance has finally sunk in!


If you’re struggling to strategize about your savings, a great way to start is with your tax refund!

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