Lowering the Cost of “The American Dream” Part I

AmericanDreamA recent USA Today article caught my eye. They said that the “American Dream” now costs $130,000 a year. Wow! Even as someone who works with people on their money, I was astounded. For those wanting to focus on creative endeavors that can feel like an impossible amount.

….then I began reading.

Let’s take a look at their list of expenses and consider how we might be able to make the dream more   Continue reading this post >

It Isn’t Enough to Care (a Guide to REALLY Perfecting Your Craft)

BrainFullA friend emailed me asking for help.

“I care so much about (my craft). Why does it always end up coming last?”

There’s a short answer to this question.

It isn’t enough to care.

I’d submit it isn’t even just about hard work.

It’s about systems.

Setting up systems to win is the key to your success. Financially, having systems for the right tasks is equally important.

The Sherlock Holmes Story

In one of the Sherlock Holmes books by Sir   Continue reading this post >

How to Save Money for Retirement Tax Free

RothIRAIn our last newsletter, I shared some tips on picking the right investment for your goals. But for many of us, another big question is this: “Where do I actually hold my investments?”

Much like artists generally have themes that run through their work, a prevailing theme you’ll find in financial planning is, “take advantage of tax shelters whenever possible.”

What’s a Tax Shelter?

Right now, the concept of a tax shelter might be   Continue reading this post >

With Low CD Rates, Where Do I Save?

SavingLet’s face it, as artists, we take plenty of risks with our craft. We don’t need undue risks with our investments.

Looking at CD rates last week, there’s nothing to grin about. According to Bankrate.com, the average one year CD is paying 0.23%. Looking for a higher return? If you lock your money up for five years in a CD you still are only going to earn 0.80%

To use my son’s   Continue reading this post >

Four Apps To Kick Start Your Savings

SavingsI often hear stories from creative professionals about their difficulties saving money. I completely understand. When faced with a project today for our art versus some far off goal, it’s hard to put away a dollar that could help right now.

Yet, I also know that the only way to financial independence is to save for the future. Every dollar we spend now is a dollar that could have secured our dreams   Continue reading this post >

What Did We Learn in 2013?

Newyear fireworksI love looking back at the prior year to find lessons I should have learned from the previous twelve months. Maybe it’s just my love of reminiscing, but even if you’re just starting out on your investing journey I think this is a good time to search for ideas to remember later. History often repeats itself, so you’ll be a better saver if you keep in mind some of the   Continue reading this post >

The “Smart” Investor

When News Strikes How Does “The Smart Money” React?

I get incredibly excited when one of my clients decides to begin investing. The biggest eye opener for these new investors? People tell me over and over that they can’t believe investing doesn’t require nearly the skill or persistence that it takes to become great in the arts. It’s difficult to become a painter, a sculptor or an actor. An investor? Actually   Continue reading this post >

Your Budget and You: Changing Buying Habits

Your Budget and You: Changing Buying Habits

Even though I’m an actor myself, when I watch a film, play or television show, it still fascinates me how the best performers draw me in. For those two hours or so, I believe they’re the character instead of the same person I saw three months earlier playing someone completely different. They make it look effortless. Of course, because of the years many of us spend studying our craft, we know how difficult it   Continue reading this post >

No Money For Investing? Here’s The Simple Step To Begin

No Money For Investing? Here’s The Simple Step To Begin

Artists know that there’s truth in projecting. We project thoughts onto a stage, a canvas, paper….and suddenly what was once in our head is a living work. We’re fascinated by it. We’ll work hard to bring these images into existence.

Saving money is also about projecting.

A reader last week wrote to me. She was frustrated with her financial situation, and mentioned that you had to “have money to make money.” She asked   Continue reading this post >

How to Create an Investment Portfolio

How to Create an Investment Portfolio

Remember when you started the journey toward becoming an actor, singer, writer, painter, or whatever type of artist you may be? You probably didn’t know much about many of the technical aspects of your craft.

Well, it’s similar with investing.

The first question I’m often asked when someone is ready to begin his or her investing journey is, “Where do I start?” That’s always a difficult question to answer because it could mean a number of things:

–         Continue reading this post >