💡Open an IRA. Visit Santa Fe

There’s an article making the rounds right now: “This is how much you should have saved by age 35.” This clickbait is efficient at making everyone feel awful about their situation because most folks haven’t saved as much as prescribed.

This is my article: “I don’t care how old you are, maybe just save what you can.”  

Here’s the thing, you don’t know how much savings you’ll need in 2050. We don’t know what life will be like then, so it’s foolish for anyone to say you need an exact number by age 35. But I do know that you should start saving now. Starting a habit with just $25 or $50 a month is a huge first step. Don’t get caught up in “I’ll start saving when I have more money.” That’s foolishly putting it off. In many ways, starting to save $25 now is just as big as saving $1,000 when you (maybe) have more money.

📅 Hot Tip: File an Easy Tax Extension
Not filing by April 15th? Take a deep breath, file an easy extension online. Then you have until October 15th to file. They don’t have to approve the extension. It just happens and you can exhale. 

The dirty little thing to remember: If you owe the IRS money, you then still should pay an estimate by April 15. If you pay too much then you’ll get a refund. So it may be best to head to an online tax program, estimate your taxes and send the IRS that amount. 

Learn more about extensions from The Balance.

Do you have multiple sources of income? Worried about back taxes? It may be time to hire someone for your taxes. I have an accountant recommendation if interested. Email me at dylan@dylanteachesfinance.com and I’ll send you their info. I don’t enjoy taxes either, but they make it painless and they ask all the right questions for freelance tax situations. 

🎴 To Do Today: Open an IRA with $25
Open an individual retirement account. Check out Betterment or another online investment company. They make it super easy to start investing. Set it to automatically transfer $25 each month from your checking account. With that start, you’re building your future income - that’s what retirement is - and most importantly you’re getting into the saving habit. 

Earned over $100k? Well, Keanu Reeves, there are income limits to Roth and Traditional IRAs. Contact your tax account to see what is best for you.

The deadline to invest in your 2018 IRA is April 15th. 

🎉 Something Fun: Meow Wolf (the Documentary)
A group of outcast artists in Santa Fe, New Mexico took over a closed bowling alley and with help from George R.R. Martin they created a fully immersive interactive space. What does that mean? Meow Wolf has been described as “Disneyland for adults.” I just returned from a month-long visit to New Mexico, found the space amazing, and now I mention Meow Wolf to everyone I see. 

Visiting Santa Fe? Head to Meow Wolf. Until then, watch this documentary about their journey. They’re expanding to Vegas this year and Denver in 2020.

Dylan Snowden