• SOURCE: Burson Marsteller

Putting Your 2014 Tax Refund to Use



Audio Package, .mp3
ANCHOR LEAD: This year, tax-filing season started on January 20th. If you're hoping for a sizeable refund, Brian Osuch finds out it may be a good idea to pass on the new TV and focus on something bigger… your future. (:59) SCRIPT: Financial Fitness, I'm Brian Osuch. According to the IRS, last year, the average tax filers received around a $3,000 refund. Merrill Edge's Sharon Miller says instead of splurging, there are productive ways to put that money to use. CUT: (Miller) If you're a parent, consider using your refund to contribute to a 529 college savings fund. Recent grads may think about paying off student loans, while retirees may consider investing their tax refunds. SCRIPT: And how are American's planning on using their refunds… CUT: (Miller) While 28% of mass affluent are planning to pay down debt such as a mortgage or credit cards, the majority - 30% - are planning to put it towards their retirement savings, according to a recent Merrill Edge report. SCRIPT: For more, visit MerrillEdge.com. That's Financial Fitness from Merrill Edge. Banking products are provided by Bank of America, N-A, Member F-D-I-C. Investment products are provided by Merrill Lynch, Pierce, Fenner and Smith Incorporated. And Are Not F-D-I-C Insured, May Lose Value, Are Not Bank Guaranteed. M-L-P-F-and-S is a registered broker-dealer, Member S-I-P-C and a wholly owned subsidiary of Bank of America Corporation.
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