Day 813 – Spend or Invest? – Ask Gramps

Wisdom-Trek / Creating a Legacy Welcome to Day 813 of our Wisdom-Trek, and thank you for joining me. This is Guthrie Chamberlain, Your Guide to Wisdom Spend or Invest? – Ask Gramps Thank you for joining us for our five days per week wisdom and legacy building podcast. This is Day 813 of our trek, and it is time for our Philosophy Friday series. Each Friday we ponder some of the basic truths and mysteries of life and how they can impact us in creating our living legacy. As we continue on this trek called life, sometimes we have questions about life, so our Friday trek is a time where we can “Ask Gramps.” Gramps will answer questions that you would like to ask your dad or granddad, but for whatever reason, are unable to. No matter how old we are, I know that all of us would like the opportunity to ask dad or gramps questions about life in many areas. We will address areas such as finances, relationships, health/fitness, business/work, home repairs/renovations, seasons of life, spiritual/Biblical questions, and any others areas that come our way. As your fellow sojourner and mentor on this trek that we call life, it is my goal to provide you with practical wisdom and advice about any area of life. It is crucial that I receive a constant flow of questions, so please submit your questions to [email protected], and I will answer your questions on our Friday podcast. We are broadcasting from our studio at The Big House in Marietta, Ohio. In the United States, most individuals are gathering together their financial and tax-related documents so they can prepare to file their tax returns. So the question for today is: “Hey Gramps, I have completed my tax return and am going to get a sizable refund. Should I spend or invest this money?” Spend or Invest? The first thing that comes to mind when I hear this question is why are you getting a sizable refund? Yes, it is nice to get a big tax refund, but if it is because you had more taken out each pay period than what was needed, then you have loaned the government money all year without getting any interest paid for the use of your money. The IRS...