Lafayette Tax Refunds A Fool A Mogul And A Samurai

Dated: December 31 2017

Views: 362

Tax filing deadline doesn’t pass without standing as the annual reminder to all of Lafayette’s taxpayers that time seems to pass ever more quickly—as do the comings and goings of our earnings. The best estimate is that this year 70% of Americans will have overpaid by close to $3,000—making their tax refund checks the only smile-producing part of the annual ritual.

 

The Motley Fool financial site offered its insight into how most people plan to spend their refunds—but at least one real estate mogul counseled for a definite ultimate destination for those dollars. Lafayette real estate could play an important role.

 

According to the Fool, 38% of respondents will use their refunds to pay off existing debts. Only 11% will direct the cash toward vacations; 5% will splurge on some kind of purchase; an equal number will put the cash toward a major purchase. The largest percentage— 41%— will sock their refund dollars into savings accounts. That’s where the real estate mogul agrees.

 

The gentleman in question is Sean Conlon, himself a multi-millionaire and host of his own TV show. This time of year, with income tax refund dollars rolling into more than 100 million households, he makes it a point to recall his own point of departure from day work as a janitor into being the owner of his own real estate mortgage company.

 

He saved. Stuffed every spare dollar into a shoe box until he’d scraped together enough to buy his first house. CNBC quoted Conlon’s dictum last week: “I’m a true believer that you should save every penny…until you buy your first house.” Lafayette tax refund checks would more than qualify as major stepping stones toward what Conlon assesses as being “still the fastest path to wealth in this country.”

 

Another pointed tax refund observation came from a website called Financial Samurai. “Sam” points out that with tax refunds nearing the $3,000 mark, that amounts to nearly 6-7% of typical after-tax income: “a pretty meaningful number.” Since saving (that is, not spending!) $250 a month in that income bracket is difficult for most, the tax refund checks provide a one-shot opportunity to make saving a done deal. The same applies to those in higher brackets. In short, since out of sight is out of mind, Samurai recommends the best course of action for any tax refund check is “to make it disappear.” Into a savings account. Then there’s at least one other relevant tax consideration—one that fattens many a refund check: that whopping mortgage interest tax deduction! 

 

The mogul and the Samurai both have valid points—and Lafayette real estate opportunities (there are plenty on hand at the moment) certainly fit into that picture. Good reason to give me a call today!

Homes for Sale in Lafayette

Abbeville
Breaux Bridge
Carencro
Church Point
Crowley
Duson
Maurice
Youngsville

==============================

Buying? ➡️ bit.ly/3bsanGy

FREE Home Evaluation ➡️ bit.ly/3eEQWvQ

==============================

Ted M. Daigle eXp Realty

Ph. 337-243-6108

ted.daigle@exprealty.com

1720 Kaliste Saloom Rd Suite B-2

Lafayette, Louisiana 70508

Ted M. Daigle | Realtor

995694847

www.337homesearch.com

==============================

 

www.listingwithted.com

Blog author image

Ted Daigle

About Ted Daigle – Realtor Growing up in Church Point, LA instilled values of hard work and dedication, which has carried over into every aspect of his life, including real estate. This Lafayette r....

Latest Blog Posts

To Renovate or Not To Renovate Your Lafayette Home Before You Sell

To Renovate or Not To Renovate Your Lafayette Home Before You SellWhen thinking about selling your home in the Lafayette LA area, homeowners often feel they need to get their house ready with some

Read More

Why Loan Pre-Approval Is Key in 2021

Today's housing market is highly competitive for homebuyers, so it's critical to gain every advantage in the processthat you can.Let's connect to make sure pre-approval is one of the first steps you

Read More

4 Ways to Be Ready for a Bidding War In Lafayette LA

4 Ways to Be Ready for a Bidding War In Lafayette LAIn today's competitive Lafayette Real Estate market, the average home for sale receives multiple offers. Let's connect to make sure you're fully

Read More

Don’t Sell on Your Own Just Because It’s a Sellers’ Market in Lafayette

Don’t Sell on Your Own Just Because It’s a Sellers’ MarketIn a sellers’ market in Lafayette, some homeowners might be tempted to try to sell their house on

Read More