Well in my estimation you have already lost money if you are getting a refund check. Better to legally change your withholding numbers and your tax plan to instead of letting the government use YOUR money for free you get a bigger paycheck and take a bit each pay period and put it in a savings plan and then invest it in something better when you get enough for a buy-in on the new investment.
I agree, but if you haven’t changed your withholding yet and have gotten a refund, then use it to open a retirement account, add to it with the extra take home you’ll have once you’ve changed your withholding.