Financial Planning for Musicians

“For years, I’ve put my talent, effort, and energy into my music and art. Now that I have a successful music business, how am I going to make decisions about my finances? My focus has been my music, not my money. Where do I begin?”

As a successful musician, you’re faced with many important questions that come with your new high level of income. Here are some of the common challenges I see with my musician clients:

You’re experiencing sudden wealth — but for how long?

After years in the studio and playing live shows, opportunity is finally knocking — and you’re answering! Your network is strong, your music is being streamed on all the right platforms, and you’re working on projects you used to only dream about.

But going from struggling artist to successful business owner presents a new set of challenges:

  • After living from paycheck to paycheck, I’m not sure how to manage my new wealth.
  • I feel like I don’t know enough about business/finance to make informed decisions.
  • I’m not sure how long my success will last. What if all of this is temporary?
  • I’m anxious about things I can’t control, like changes to the entertainment industry or music streaming platforms.
  • I’m worried about spending money on things that won’t matter to me in the future.
  • I’ve got a bunch of other issues vying for my attention — my spouse, kids, parents, social media, travel, and other hobbies. How will I get it all done?

You’re struggling with lifestyle creep.

You’ve worked so hard to get where you are now. You’re ready to enjoy your new success and have new experiences! All that cash is burning a hole in your pocket. And the other successful people you’re hanging out with now have such incredible lifestyles.

While you now have the means to upgrade your lifestyle, you probably have a lot of questions:

  • Can I splurge on those destination vacations I’ve always dreamed about?
  • Could I build my dream studio in that $2M house for sale near the coast?
  • Is now the right time to order the newest Tesla Model S?
  • With big income comes big tax bills. How do I plan for that?
  • How can we get clear on our values as a family before we make big decisions?

As a financial advisor specializing in successful musicians, you can outsource your worries to me.

I have extensive experience working with musicians and other people in the entertainment industry who have recently found success. Most of my clients are in their 30s and 40s and are experiencing a boom in their careers after struggling for years.

Let’s get you to a place where you feel confident in your financial decisions and know how to take advantage of your opportunities.

Working together, you’ll receive:

  • Personalized and ongoing financial planning
  • Investment management
  • Risk management and insurance planning so your assets are protected
  • Guidance on tax planning and selecting a business entity
  • Behavioral coaching so you can avoid lifestyle creep while making key lifestyle upgrades
  • A “captain” to coordinate with the other professionals on your team (CPA, attorneys, insurance agents, etc.) so you can take strategic action
  • Clarity on where you are today relative to your retirement goals, and whether those goals are realistic.

Having these issues taken care of will let you focus on your art, spend more time with your family, and feel confident that you’re on a solid financial path.

Schedule Your Free Call With Nick Today!