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Invest tax refunds wisely, Oklahoma banking expert says

John Symcox, banking officer with First Fidelity Financial Services, suggests ways Oklahomans can be smart with their tax refunds.
by Paula Burkes Modified: May 1, 2014 at 3:00 pm •  Published: April 30, 2014
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Q&A with John Symcox

Investment of tax refunds can be

wise move for long-term benefit

Q: What is the best way to invest tax refunds?

A: Invest tax refunds into more permanent assets including wealth management. Oklahoma taxpayers can get more out of their return if they use it for long-term planning. Some areas to be considered are investments, insurance policies, debt or paying off loans, retirement planning, college savings for kids or simply general savings.

Q: Why is it a challenge to invest in retirement accounts?

A: Bottom line: some couples just don’t know how much they need to start putting away. It’s hard to know exactly how much you’ll need, but you should sit down with a spouse or significant other and determine the amount you’ll need to live comfortably. Once an amount is determined, set goals accordingly and use your tax refund as a kick start.

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by Paula Burkes
Reporter
A 1981 journalism graduate of Oklahoma State University, Paula Burkes has more than 30 years experience writing and editing award-winning material for newspapers and healthcare, educational and telecommunications institutions in Tulsa, Oklahoma...
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