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re: Why are people excited about a tax refund?
Posted on 3/19/14 at 11:05 am to yellowfin
Posted on 3/19/14 at 11:05 am to yellowfin
quote:
The entire $5,300 wasn't there for a year and if it were a savings account would have netted you about $50 at today's rates.
Right. The old notion that it's just exceedingly stupid financially, is pretty much exceedingly stupid in today's environment. It's basically as good a savings vehicle as anything.
1
Posted on 3/19/14 at 11:33 am to Y.A. Tittle
quote:
The old notion that it's just exceedingly stupid financially, is pretty much exceedingly stupid in today's environment
Regardless of the opportunity cost, it is not "exceedingly stupid" to pay no more than neccessary to the IRS throughout the year.
quote:
in today's environment
Today's environment only lessens the blow of overpaying during the year. It does nothing to justify overpaying.
quote:
It's basically as good a savings vehicle as anything.
Except that it didn't earn a single penny of interest, so it isn't really a good savings vehicle at all. Plus, there are plenty of different investments where it could have been rather than a savings account.
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