Check out these saving and investment tips from the US government's SEC Office of Investor Education and Advocacy. If you have any questions, do not contact the US Treasury Department, Financial Management Service, or the writer of this message. This message is purely for educational and informational purposes. Here are some highlights which you should have already received in the mail from the IRS:
- Pay off credit card or high-interest debt. Simply paying off your high-interest debt may be your best investment strategy. It does not make sense to pay 10% interest on a loan and get 2% on a savings investment, doesn't it? Paying off the 10% loan is as good as a 10% return.
- Boost your emergency fund. Many experts recommend keeping about six months of expenses in a federally insured account to cover and emergency, like sudden unemployment.
- Beware of promises of "guaranteed returns." Promises of high returns, with little or no risk, are classic warning signs of fraud. If it sounds too good to be true, it probably is.
- Don't put all your eggs in one basket. Remember, grandma told this to you long before the IRS. Think twice before investing heavily in shares of your employer's stock or any individual investment.
Disclaimer:
References to Personal Finance are strictly for "educational purposes" and does not hint or offer any specific financial or tax advice. For financial advice, please seek the advice of a professional if you feel unable to handle your own finances/taxes
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