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!

Read Full Article

Recent Articles

Superhighway Robbery

October 24, 2022

This column discusses the importance of protecting all the valuable data a TPA firm is entrusted with regarding people’s retirement savings.

Tackling The Tough Stuff

October 19, 2022

When we first meet with a client to take over their plan or to design anew plan, one of the very first topics we cover is eligibility.‍

Super Wonder Tpa

September 26, 2022

This column is intended to convince you that TPAs are modern day superheroes and by the time you are done reading you will be in love with your career choice again, realize how important you and your services are, and be ready to communicate your superpowers to people who should be utilizing your services.

Request a Consultation

Ready to find out more?

The TriStar team is ready to help you begin your journey on the road to retirement. We will help you navigate the route for a smooth ride to and through retirement.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.