How To Invest Your Return - 47 ABC - Delmarva's Choice

How To Invest Your Return

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SALISBURY, Md. - Some of you may be just getting started, but the time to file your taxes is almost up.

More than 80 million people have filed a return so far for 2014, and the average check is just more than $3,000. So, If you're getting money back this year, what's the best way to make your hard-earned money work for you?

"If you need to pay off bills, that's probably the best thing," Jim Oharloran said.

That's what 21 percent of people said in a recent survey by TD Ameritrade. And David Corry says start at the top.

"Pay off the highest interest rates that you could, and if you have enough of a return to pay off a current debt like that, that would be a wise thing to do," Corry said.

Tax payers should also consider building an emergency fund for household expenses, or make repairs at home or on a car.

But, if the money isn't needed immediately, it may be good to invest in your future.

"I would say put it in a Roth IRA and just save it for long term," Corry said. "It seems to be the best return on the investment, currently."

And another good return on investment could be investing in yourself, taking a class that might help advance at work or buying what you need to get ahead.

"I would assume that anyone has a passion, something they could find that makes them feel excited," Bryan Bell said. "Going out and buying material things, it's only going to last a second, but if you put it into maybe some art supplies or maybe, you know, a new computer to do a new type of work."

But, if this winter has you wishing for warmer weather saving for a trip could do the trick.

"I guess summer savings is the best way to describe it," Ohaloran said. "My wife and I are both teachers so we just play with it over the summer."

"Go on an adventure, go explore, go do something you've never done before," Bell added. "Live life a little bit."

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