Many people want to have more money – OK everyone does. However, most people don’t know how to go about building wealth, even if they are high income earners. Their money often just sits in their bank account, because they really don’t know what to do with it or they are too afraid to take a risk. When it comes to us, the actors and artists, we also don’t want to risk losing the scant amount of money we have earned because we need that to make ends meet while we pursue our artistic careers. What you have to seriously ask yourself is, with the scant amount of money and what you have to do to earn it, do you really have the time and energy to pursue your artistic career? That is the dream isn’t it? The dream of every actor, artist, and creative professional. To be able to pursue our artistic dreams and passions stress free. To be able to follow the artistic path without worrying where next months rent is coming from. To be able to be free from the pressure of finding artistic work and just let it happen.
In our Artist’s Prosperity System we have our clients set up and build a “wealth account”. This is the money they can then use to invest however they wish. Yes, I said invest. No, don’t run. I know that word send shivers down most people’s spines, but that is because most people really do not understand investing or what their options are. It is just too risky, too unknown. (For more free information on this and other things, visit us and get your free CD Abundance Bound – Financial Education and Planning for Actors and Artists).
The key to achieving our artistic freedom is to accelerate our financial wealth by investing regularly. Investing is the way to get your money working for you instead of you having to work for your money. In time, your investments will generate more than enough income for you to live off of – allowing you to focus your time on what you really want.
Investing is a funny thing because it is something that so many people talk about doing, but never actually do. They don’t do it because they are not educated about it and they are not financially prepared for it, which makes it too much of a risk, too scary. Well, most of our clients are not in a position to invest when they first start with us. However, when they make the commitment to pay themselves first (building a wealth account ), getting financially right side up, and following the other steps of our system, often in six months or sooner they are ready to make their first investment.
Investing does not mean parking your money in a mutual fund and hoping for the best. It means taking advantage of one or more of the many huge investment opportunities available that will generate solid returns without much risk. It also means you need to do your homework. In our seminars, we educate our students with regards to the many types of investment opportunities that exist. We suggest that you start allotting some of your time to investigate what investment opportunities might be of particular interest to you. This is important. Investing can actually become fun when you choose vehicles that you enjoy.
What types of opportunities are available? One example is the stock market. This requires a small initial investment and there is potential for dramatic and quick increases. Of course the downside is you are not able to leverage your money. In other words, if you buy $5,000 worth of stock then you control exactly $5,000 worth of stock.
There is also real estate, with which you have the ability to really leverage your money. In other words, a $5,000 down payment might purchase a $50,000 property. Also, owning real estate allows significant tax savings and the possibility for passive income. Of course, you have to deal with tenants, etc…, but this may be right for you.
There are numerous other investment arenas to learn about: Index funds, vending machines/video games, laundromats, health clubs, restaurants, land contracts, tax liens. Browse through books at Barnes & Nobles and attend seminars (many of these are free – just don’t buy a bunch of stuff at the end until you have really decided what you want to do).
It is extremely important to start your research before you are financially ready to invest. First of all, this fuels the fire of desire and helps keep you moving forward. It also means that when the time comes, when you have the money in place, you will be ready to go. We suggest to our clients that they use the time between when they first come to us and when they are ready to invest as a valuable and stress-free time to begin investigating all of the possibilities so they know what interests them.
So take action now. Help yourself to get out of financial despair and find your true artistic freedom. This means start researching and start building your “wealth account” so you can live life on your terms.
