How to Invest Your IRS Stimulus Rebate Check

Investing you Stimulus check may be the best financial decision you ever made. There are so options you can try to when investing your stimulus check. Depending on your family’s size and financial status.

Instructions

Difficulty: Moderate

1. The first thing I would recommend is putting your money in a ROTH IRA. Go to this website for more information and a calculator that helps calculate the cost.
   
   http://moneycentral.msn.com/investor/calcs/n_roth/main.asp
2. You could Pre-Pay on your Mortgage Loan. It could potential save you thousands of dollars depending how big your loans is and how much longer you still have to pay on it. Contact you Lenders and see if they allow it and how much you could potentially save.
3. Invest in a Section 529 Savings Plan. This is a good way to save money for your Childs education. Any money that is taken out for your Childs education is tax free.
   To find a list of the best 529 Savings Plan visits the website below.
   
   http://www.kiplinger.com/features/archives/2007/08/best529s.html
   
   Go to this website for more information about the 529 Savings Plan.
   
   www.collegesavings.org
4. Put your money in savings account. Your money will not grow as fast as it would in an investment account but it may save you money in the long run. It will allow you to have an emergency fund so that you don’t have to use those high interest rate credit cards if an unexpected expense came up.

Tips & Warnings

• You can always talk to a financial advisor to make sure that you make the right decesion, if you are unsure what to do. This is only the second time the IRS has given a rebate check, make the most of it!