Turn tax refunds into one million dollars. In this episode, I'm going to address the question,
"What should I do with my tax refund?" Get ready. You're going to be blown away with what this
can compound and grow to instead of spending it. So, my name is Doug Andrew and I've been
a financial strategist and retirement planning specialist now for more than 4 and a half decades.
And so, I've had the opportunity to look at thousands of people's tax returns. And ofttimes,
they will come to me and I'll notice looking through the years of tax returns
that many people always get these tax refunds and I ask, "Why are you always
waiting for a tax refund of 2, 3, 4, 5 thousand dollars?" And the most common answer I get is,
"Well, it's my forced savings. I mean, it's a gift from Uncle Sam. And I'm going, "This is not
a gift." They took your money that you didn't owe they paid you zero percent interest and you are
using this like a forced savings account earning zero percent interest? Do you know what you could
be doing with that money? And they get blown away when I show them what it could be compounding to.
So, let me share with you the numbers and what you can do with your tax refund to accumulate
maybe an extra million dollars by the time you get ready to retire. Before I go any further, if this
intrigues you, be sure to share this video with people who think maybe the same way you've always
thought. Make a comment and subscribe because I post an in-depth answer to a financial question
almost on a daily basis on this channel. And at the end, I'm going to gift you a copy of my most
recent bestselling book. So, stay with me. Being a financial strategist as I said, i've noticed
that a lot of people will year after year after year get a tax refund and they think it's this
forced savings account. What is the average tax refund in America? It's about $3,000. Now,
I've seen people get 5 and 6 thousand, 10 thousand, 50 thousand. But the average is 3
thousand dollars. So, let's use that as a number. Now, that would be $250 a month. As I said, a lot
of people think, "Oh, I can't wait. I file my tax returns and on April 15th or shortly thereafter,
I'm going to get this 3,000-dollar refund." And what do they do? They plan on consuming.
You don't take your tax refund to consume as a for savings to go out and spend it on an appreciating
asset. You want to invest it. So, let me give you the math. If you were to take that average
refund in America of $3,000 a year and you were to set it aside in my favorite instrument... Now,
I've been a financial strategist and retirement planning specialist again for more than 4 and
a half decades. My favorite vehicle where I accumulate my money safely tax-free and then I'm
able to access it tax-free in retirement is what I call the laser fund, okay? It's a max-funded IUL.
And I've written a book about it and I'll gift you a copy here at the end. The long story short,
there's been many, many periods where I have averaged 11, 11.17 percent for 25 years and
I've netted 10.07. So, let's just use 10% because it's a nice round number. A lot of people say,
"Where do you earn 10%?" "Well, I've been doing this for over 40 years in my Laser Fund." And
it's tax-free. So, at 10%, let's just take it down to 9.6, okay? Because I can prove to you that ever
since the emergence of universal life back in 1980 introduced by EF Hutton, I have averaged 9.62. So,
we'll round it down to 9.6, is that fair? If you took $3,000 and you socked it away into a laser
fund, let's say you're age 30. And your average returners is $3,000 a year, your refund. $3,000
a year at 9.6%, you know what that will grow to? $897,375 tax-free. That could be a help for your
retirement. But let me share with you what I would do if I were in your shoes instead of waiting
until the end of the year to get my tax refund. You ready? So, as I indicated, a lot of people
think, "Oh, golly! This is my forced savings." How much is Uncle Sam paying you in interest on
that money while you're overpaying you're having more withheld from your paycheck than you need to?
Zero. So, you recalculate your withholding. If you know you're averaging $3,000 in a tax refund,
that's $250 a month. You change your withholding allowances for your paycheck. And you get the
extra $250 a month right immediately every month instead of waiting till the end of the year. Why?
Because if you set up a Laser Fund to accommodate $250 a month, instead of waiting until the end of
the year to finally have 3,000, guess what the difference is? At the exact same rate of return,
you would end up with $1,043,546. How much more is that? Almost $150,000 more money at the end of the
day. Now, what time frame am I talking about? Age 30 to the average age now of Americans retiring
at age 67. This would be 37 years. At age 67, you could have a 1,043,000 if you sucked away $250 a
month at 9.6% interest. A hundred fifty grand more than waiting to the end of the year to have 3,000.
But what do most Americans do? They spend it. They consume. You should conserve instead of consume.
Are you interested in what this Laser Fund is? So, if this is intriguing you, I want to invite you to
get a free copy of my most recent best-selling book. And when you read and study this,
you'll understand and see examples of how people have averaged 9.6% for a 40-year period. And
where I get these numbers. Because sometimes people go, "Where do you earn 9.6% tax-free?"
Well, in my circles, it's extremely common to understand how to achieve that with indexed
universal life insurance contracts. That's the net rate of return. So, again, the math is this.
If your refund is 3,000 like the average American, don't wait to get a refund in April every year to
go spend the money. You use compound interest to your advantage. My first advice would be,
"Well, you could sock away 3 grand a year when you get your refund every year." And you'll end
up with about 897,000 at the end of the day. But why wouldn't you go for an extra 150 grand
by changing the withholding on your paycheck? Getting 250 a month back into your bank account.
Put that automatically into the Laser Fund, you end up with about 150,000 more dollars. That's a
million 43,000 bucks. So, where can you get a copy of this Laser Fund to learn how to diversify and
create the foundation for a tax-free retirement with an extra million bucks in it? This happens
to be book number 11. I've been very blessed in my career to write 11 books thus far. My 12th one's
coming out very soon. And I had a new york times wall street journal number one bestseller back in
2007. But this is probably my favorite thus far. It's really 2 books in one. This white side is
comprised of about 200 pages, 14 chapters with all kinds of charts and graphs and explanations. Now,
if you're more of a right-brain thinker, you learn by stories and examples, you flip over the book to
this one. This is about 100 pages, 12 chapters, with 62 chicken soup for the financial soul
stories. Their stories of how the Laser Fund can be used for retirement planning, college funding,
emergency funds, real estate management, business working capital. For all kinds of... It's like
the dream solution. A financial swiss army knife. And so, I would like you to read both of these if
you're both right brain and left brain. You want to use your whole brain. So, here's the deal:
I'll pay for the book. If you contribute a nominal amount towards the shipping and handling,
I'll cover the rest of that and I'll pay for the book and fire out a copy to you.
You go to laserfund.com. LASERfund.com. Again, Laser Fund or click below. And you'll be able to
get your free copy. There's also options for the audio version also even an 18-hour master class
if you want to really go into a deep dive where I cover each chapter for a good hour hour and
a half. So, here's to your brighter future. And I hope you got some insight. Be sure and share.