I didn’t receive a tax refund this year.
Any additional leftover cash from my tax refund is usually put into the stock market via my brokerage account.
But that wasn’t an option this year.
President Donald Trump’s sweeping tariffs on imports have wreaked havoc on Americans' retirement portfolios.
The S&P 500 is down 11% since the beginning of the year.
If you’re expecting a refund this year, consider these factors before spending your refund on market investments.
Instead, use it on your everyday expenses or to help start or pad a savings account.
Annual market returns will generally not outpace the debt you’re accumulating by ignoring your high-interest debt.
Forty-two percent of borrowers owe at least $25,000.
The maximum you’re able to contribute to your401(k) in 2025 is $23,500.
IRA contribution limits for 2025 are $7,000 and can be made pre-tax or post-tax.
That sent stocks plunging.
By Wednesday, President Trump did announce a90-day pause on reciprocal tariffs.
Then, you guessed it, stocks rallied again, before tumbling slightly again on Thursday.
Experts will tell you timing the market is one of the hardest things to do.
With policies around tariffs changing seemingly by the day, this may not be rock bottom.
