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This May, most American families will receive a little extra cash, thanks to the recently signed Economic Stimulus Act. Most working taxpayers will receive $600 (or $1,200 for married couples). If you have dependent children, you may get even more.
The government’s idea is to jump-start the economy; they figure that putting money in the pockets of American consumers translates into greater sales of big-screen televisions, designer handbags and iPods. But is spending the money really in your best interest? Instead of buying more stuff – which you might already have enough of – consider investing the money.
You can start a Roth or Traditional IRA and sock away a little more for retirement. You could also start a Coverdell IRA or 529 plan for your child and help save for the gift of education. Get started by making an appointment with one of our Wealth Management representatives online or at 360.891.4093.
But that’s not to say you can’t participate in at least a little of the economic fun. Find a small splurge. Take your family to an amusement park for the day, buy a new outfit or enjoy a night on the town. Just set a modest limit and stick to it.
Securities are offered through Financial Network Investment Corporation, a registered broker/dealer and Member SIPC. Financial Network is not affiliated with Columbia Credit Union or its subsidiaries. The Financial Network Registered Branch is located at 3003 NE 62nd Ave. PO Box 324, Vancouver WA 98666.
Not NCUA/NCUSIF Insured • May Lose Value • Not a Deposit • No Credit Union Guarantee
Not Insured by Any Federal Government Agency.
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