50 Shades of an Investment Plan

 

50 Shades of an Investment Plan?

I think we could all agree that 50 Shades of Grey is one of the hottest movies of the year so far!

But just how hot is this movie?
This movie has grossed more than $528 million worldwide.
Yes that is one hot movie!
50 Shades of Grey is the largest international opening movie of 2015. 
It is also the highest R-rated opening international movie ever.
So just how hot does this deal get for the young entrepreneur Christian Grey himself?
Well even after claims that actor Jamie Dornan was going to quit after this first movie, because his wife was uncomfortable with some of the explicit sex scenes.
Jamie Dornan has just recently signed a deal that will take him from being paid approximately $250,000 for this movie to a reportedly hot $7 million deal to star in the sequels.
Is this a good investment decision for Jamie Dornan and his wife?
This may seem like nothing compared to what some of the highest paid actors in Hollywood earn per movie with Johnny Depp earning $50 million for every movie or Leonardo DiCaprio who now earns $77 million for his movies.
With all that money to be earned in the movie industry is there an ideal script for managing finances and retirement when it comes to actors?
Even with the large amounts of money that can be paid to an actor per movie does this guarantee them a carefree retirement or are there drawbacks?
For actors it can often be a case of feast or famine which means they have to learn how to make the most of the money that they earn.
This can make it difficult for actors to manage their finances.  Due to the fact that work is not consistent and even though they may be paid very well for a role they may have to live off that for a long while before they get their next role.
One of the hardest things for an actor is when they finally do get that big break that can make them rich overnight they can also go broke overnight just as easily, because due to human nature when that big break that they have been waiting on come so does overspending and not enough saving.
All too often when actors are making large sums of money there are bad financial decisions being made at the same time which will hurt them in the long-term?  Bad decisions like investing too much into tax deferred accounts and then having to withdraw the money out early or simply spending too much and saving too little for the times when they are not working.

4 tips towards the perfect script for Financial Success;

      1.  Put aside at least 24 months of living expenses in cash.
      2.  Make sure you work with a Financial Advisor who will tie in the importance of Estate     Planning and Tax Advice into your overall plan.
      3.  Don’t just invest into tax deferred accounts; make sure you invest in taxable accounts that can be used without incurring penalties.  It is important that investments are maximized in working times and assets available when not working.
      4.  Anyone devoting their career to acting needs to know the importance of having a Financial Advisor as part of their team just like having your agent and manager.

 

 

 

 

Is it really worth the risk?

Is it really worth the risk?

Would you agree with me if I said everything in life worth having involves taking some kind of risk?

Everything we decide to go after in our lives has some level of risk involved in order to achieve what we want.
Taking risks of course can be scary, but the risk of doing nothing is worse.
The outcome is never certain but the rewards can be great.
Without taking risks we could miss out on so many opportunities and dreams.
Life is a series of calculated risks with no guaranteed outcome.
Some risks that are worth taking include;
The risk of failing
The risk of failing is one of the hardest risks of all for us to take.  Think about it for a moment when we don’t fail we succeed and when we do fail we succeed because we will have to find another way to do it in order to succeed.  Emotions are often what hold’s us back from taking the calculated risk in order to succeed.
The risk of making a mistake
To succeed in life we need to be able to make and admit our mistakes.  If we are not making mistakes we are not trying enough new things in our lives.
The risk of never being good enough
We will either be good enough or we will not.  But without taking the risk we will never find out and the risk of not knowing is greater than the risk of making a mistake.
The risk of love
To risk saying I love you and not to be loved back.  Of course it will hurt if we tell someone we love them and they don’t say it in return but it is better to take the risk and say I love you than wait and miss out on the opportunity of love altogether.

Parents are you back in the routine yet?

Parents are you back in the routine yet?

You know the long awaited routine of back to school.

Summer is fun that we cannot deny.
However after 3 long months of summer break I think parents, grandparents and kids alike are ready to get back to school.
I know that even though my kids love summer there is a part of them that also likes the comfort of being back in their school routine, as well as of course getting back to seeing their friends every day and getting back to their school sports.
What does back to school mean to us as Parents?
Well the first thing I think of is back to the crazy business of all the running around that comes with back to school and all of the other activities that my kids participate in after school.
But another thing that back to school represents is that our kids are another year closer to College.
In the same way that you are another year closer to having to fund you kids college.
As the Parent or Grandparent of children how are you planning to help them with their college expenses?
You need to be smart about the costs of putting yourselves at financial risk in doing so.
Do not forget the importance of creating a sound overall financial plan.
What does this mean and how do you go about doing that?

Now Is A Good Time to Talk Finances

It’s that time of year again!

Yes the holidays are here.

Where has the year gone!  I’m I the only one that feels that the year has flown by?

I have so much to be thankful for.

I hope you and your family do too.

I am thankful each and every single day, but the holidays are that special time of the year that I love to take the time with my family to reflect on just how much we really do have to be thankful for.