Tips on Making the Tax Rebate Work for You

Tax Rebates Hit Bank Accounts Today Americans Should Consider Ways to Improve Their Own Financial Well Being First

Tuesday, April 29, 2008 8:58 am PDT

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NASDAQ:
SCHW

--(BUSINESS WIRE)--Charles Schwab (Nasdaq:SCHW):

 

What:

    Nearly 70% of Americans received a tax refund last year, with the average amount being $2,250. This year, approximately 95% of Americans will also receive a rebate from the economic stimulus package - up to $600 for singles, $1,200 for couples - which just recently began being automatically deposited into bank accounts.
 

With a sudden windfall - and economic uncertainty - Americans will want someone to answer the question: what are the best ways to make this money work for me?

       
 

Why:

While many might be compelled to spend this money on a vacation or a large-screen television, Schwab recommends a different approach: think about your future now, live within your means, and take the necessary steps to ensure you're on the right track to a happy and healthy retirement.
 
Here are five ways Schwab suggests making the most of your refund or rebate:
 
1. Pay down high-interest debt.
 
2. Establish an emergency fund.
 
3. Invest in an IRA.
 
4. Invest in a college fund.
 
5. Maximize any 401(k) match.
       
 

Who

    Bob O'Neill, head of Schwab's Retirement and Younger Investor initiatives, is available to discuss Schwab's recommended approach and help outline a clear path for the average investor to help build a more secure future in the midst of challenging economic times.

Contact:

Charles Schwab
Michael Altfest, 415-486-3244
Matt Hurwitz, 415-636-3700

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