Financial Literacy for Musicians

08/12/2021

Want to make more 💰 from your song streaming?

I know, I know...promoting our music is like playing in penny stocks.

Each song only earns like $0.003 per stream (thanks, ...).

Everyone knows this is a problem, but aside from putting in more time, effort, and investment into your music, no one's really doing anything about it.

But is! They give you the power to immediately invest your mechanical royalties into shares of some of the the biggest Fortune 500 companies.

Think of it like for musicians.

And when your money makes more money, that’s called compound interest.
When you own that money, it’s called an asset!

And even better, your music business accounts can claim your stake in these companies as an asset in your music business, thereby increasing its value.

Not bad for $0.003, huh?

Check out the latest post on my blog for more information!

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07/31/2021

Your Financial Whatever wants to keep all of your money 🤭

In the past, I've talked about how people think their ONLY option is to save money in the wild & crazy stock market and hope for the best. 📉📈📉📈

But when they actually need the money, they can't have it!

You know what's crazy 🤪 to me?

Saving money that you can't actually use...just to say that you have it.

And if you do, you'll get hit with a double whammy of 10% penalty ➕ income tax.
..all for just trying to live your best life. 😒

If you're gonna save money, you should be able to use it when you need to, right?

And what if you want to use it to invest back into your business?!

Maybe it's:
💤 A dream project.
🤝 A collab with your favorite celebrity artist.
🛣🚌 A national (or world?!) tour.

Now we're talking!

Well, at least we need to.

HMU in the DM's! ✉

📀

07/28/2021

Here's the 1️⃣ reason WHY people never reach their money goals. Does it apply to you?

They're too scared to get started. Or they get started WAY too late, losing out on tens of thousands of dollars in FREE money!

Let me explain 👨‍🏫

Maybe your goal is to save 💲4️⃣0️⃣0️⃣ a month. You've done all the work and you know that that's how much you need to !

You're motivated and all, so why can't you just get after it already?

Because the truth is, that goal is a MAJOR lift. 🏋️‍♂️ It's something that you're just not ready for.

Either mentally 🧠
or financially 💰

Does this sound like something you'd say to yourself?

"I'll start saving 💲4️⃣0️⃣0️⃣ a month when I'm able to save 💲4️⃣0️⃣0️⃣ a month."

And the cycle goes on and on. ♻️

Try this instead: Could you start with 💲1️⃣0️⃣ a month? Would that be too easy?

How about 💲4️⃣0️⃣ a month? 💲1️⃣0️⃣0️⃣?

Remember☝️: If you don't start with something, then you'll end with nothing. 🤲

What's your monthly goal?
Can you make it easier on yourself?

Comment below if you need help getting motivated! 💪

📶

07/26/2021

13% of the musicians I studied did jailtime because of this. Are you gonna be next?

Know when your taxes are due.

And no, I don't mean on April 15th...

Whenever I meet with people, here's the 1️⃣ thing they want to know:

"When do I get to use the money in my retirement account?"

To get the tax-advantaged benefits, you'll have to pay taxes AT LEAST once in the life of the account. That could be:

1) Before you get paid
2) After you get paid
3) Before you retire
4) While you're retired
5) After you get your ticket punched...💀💀

Generally speaking, this is what you can expect:

If you don't pay taxes in the "before" they will be paid in the "after".

There are benefits to both options. It just depends on what you need your money to do for you.

But strategically deciding which route is best for you will help you (and your family) pay the least in taxes.

You know. Like those rich people do.

Make music.
Make money.

If you want to join their ranks, you gotta do what they do - and think how they think.

Send me a DM if you're ready to get there.

🌬🇺🇲💸🇺🇲

07/23/2021

Which one are you choosing today?

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07/23/2021

This site is really on the cutting edge of helping musicians save money from their song stream royalties.

This could help musicians leverage their piddly earnings (thanks, Spotify...) into big assets!

Whatcha think? Is this something you would use?

https://www.marinationmusic.com/post/why-musicians-fail-to-save-money-and-ruin-their-financial-lives

Guest Post: By Ryan Freer (Financial Advisor) Musicians have an especially difficult set of challenges when growing their businesses. There are few industries that require so much effort for so little payout. The image of the “hustling, starving musician” is a stereotype, but it also has some tr...

07/12/2021

Nipsey Hussle. Nas. Jay-Z.

Heck. Pharrell Williams is rumored to have a net worth of at least $200M.

They all own multi-million dollar estates. Empires even.

How did they get where they are? Did they just roll out of bed one day and just...wise up?

I'm gonna tell you their secret. Right now.

Real estate.

And before that, they mastered how money works. If you asked them what compound interest, spread, or ROI is, they'll tell you.

How did they learn?

Before that, they started their first businesses.

How did they do that?

They got lucky.

Just kidding.

You want what they got?
You gotta start where they did.

And its your lucky day.

I can offer you what they got when they started out, to help launch you to where they are.

DM me and let's help you get it.

🏙

07/08/2021

Warren Buffet is telling people to buy index funds. But here's what he's NOT saying.

Index funds are the hottest 🔥 thing right now! They're great because you can pre-package your stock picks. All Fortune 500 companies on one ticket? YES PLEASE! 😍😘

But... 😳

If you aren't careful, you'll be making a big rookie mistake.

If you FAIL to do this one thing, then it's no different than buying any other kind of stock.

And all I can say to that is...good luck to ya! 🤞🏻🍀

But if you want to learn how to guarantee 👍 you'll never lose a dime when the market dips...

If you want to never 🙅‍♂️ have to make up for lost time (or money)...

If you want to learn about 'the third way' that only like 20% of people know about... 🧠

You gotta ask first! ❓🙋‍♂️

Who-what-where-how⁉

You know what to do.

Tap into that 🔗 in the bio.

07/07/2021

Here are 6️⃣ ways to measure your financial literacy.

Comment below if you're seeing gains in any of these areas!

There's a lot of talk these days about mastering financial literacy 💬

But here's the mistake a lot of "entrepreneurs" make...they that if they read a few books, watch a few TikToks, buy a little bitcoin or some stocks (because some rando on TikTok said to...) and suddenly they're ready to give Warren Buffet a run for his money.

They don't realize that financial literacy is a skill ⚒
It's a mindset 🧠
It's a worldview 🌎🌍🌏🌎

Therefore, it takes TIME to grow that skill 🌱🌿🌳

And the more TIME you go about it the WRONG way, the less TIME you have to enjoy the rewards of going about it the RIGHT way.

Opportunity cost, much? 💸

If you want to learn how to apply all of these tips and get real results, click the 🔗 in my bio to take the first step today!

💿

07/05/2021

Dough. Scratch. Cheddar. Bread. Coin. Racks. Bank.

Whatever you call your money, you know one thing: it doesn't matter what you call it, you just need more of it.

As a musician, your retirement goal isn't like everyone else's. You may not need to grow a big pile of cash, you need income to keep doing what you love, and even better, to allow you to retire.

To stop hustling and start enjoying life.

What you need is a way to Live Freer with Money for Life.

I'll bet that I'm not telling you something you don't already know.

But I do know how to make it happen.

Tell me I'm wrong.

Or even better, DM me and tell me I'm right.

Then, let's get started.

📀

07/05/2021

Facebook is full of opinions - and now I'm asking for yours!

I'm looking for a a handful of talented people to take a 5 minute survey on their experiences with money.

There is no cost and no obligation beyond taking the survey.

The last question of the survey allows you to opt in or out of a follow-up convo.

I'm just looking to learn more about musicians' struggles with saving money and what kind of educational info they wish they knew to better handle their dollars!

Full-time, part-time, or spare time musicians - all are welcome!

https://forms.gle/XBzWHF3tPjhXrja29

07/04/2021

Happy Fourth! I have a special treat for you today. 🍦

It's pretty hot out, ain't it? 🥵

That's July weather for ya. 🌞

Imagine trying to cool off with a nice, cold popsicle.

You know the kind... 🍧

Beneath a frozen mound of sugary goodness, there's a joke written on the stick:

"What do you call a cow with no legs?" 🃏

The sweet treat is great and all...but you've just got to know what the answer is!

But this ice cream is special.

It takes 10 hours to melt, not 10 minutes. ⌚

Would it be worth the wait to read the punchline? 🤔

Eating it too fast will give you a BRAIN FREEEZE! 🥶

If the popsicle melts too fast, you still wouldn't get your money's worth, would you?

You'd just have a big messy, sticky, sugary, puddle.

The longer you wait, the longer you get to enjoy your sweet treat! 😋🤤

That's how liquidity works in your money, too. The more "frozen" it is, the harder it is to get to it. 🧊

This is great if you want to grow your more of it over time! 📶

But it's terrible when you actually need to use it. 🛠

Generally speaking, the more liquidy your money is, the slower it grows over time. 🦥

So...does your savings look more like an ice cube or a slushie? 🧊❄🍨🍧

🎇🎆