It’s April and that means paying federal income taxes.
If you’re part of the 40% that will receive a tax refund, how will you use it? According to a Bankrate.com poll, in 2021, the average federal tax refund was $2,815. This year, says the poll, many Americans plan to use that money to improve their overall financial health.
Among those expecting refunds, says the poll, 32% plan to save most or all of the money, 23% plan to pay down debt, and 12% will pay for day-to-day expenses.
If you are able to, investing and saving your tax return is a smart way to improve your financial health.
That’s where a savings-type account such as our Wealth Building Account can come in - by taking your tax return and growing it for you.
The Fair Wealth Building Account can help you generate high yield returns from your balance, without any extra fees or hassle.
The Fair Wealth Building Account works by investing in dividend-paying assets and passing along those returns to you. The return on your Wealth Building Account is 4% annually, and it’s paid monthly. There is no minimum balance requirement, and there’s no cap on your balance that is eligible for dividends.
Even better, Fair won’t charge you any additional fees on your Wealth Building Account.
For added peace of mind, Wealth Building Accounts are SIPC insured. All you need to do is sit back and watch your Wealth Building Account balance grow every month!
Learn more about the Fair Wealth Building Account here.