Most of you probably have heard about Roth IRA (retirement accounts) and know how they work. You open a retirement account, you pay taxes on the money you deposit into and when you need to withdraw money, you get every penny that’s in your retirement account. The earlier you start investing in your Roth IRA, the more benefit you will get later. You can do it with the desired amount of money, bit by bit, and eventually, you will have an impressive retirement account. All you need to do is just small investments over time.
Probably you are sitting there, thinking “How the heck is my music career related to retirement accounts?”
In this article, MusicPromoToday shares with you useful tips on how and why you should invest in your music career like you would do with Roth IRA.
1. Always think long-term
When you open a retirement account you, obviously, don’t have an intention to withdraw your money the next day, right? You’re setting yourself up for financial security far into the future.
The same is with your music career. You need to set a long-term plan for yourself and have a clear image of where you want to end up.
2. Little by little, a little becomes a lot
At the beginning of the road, many artists have lots of interesting ideas for their music and career and some of them are trying to bring their thoughts to life at once. But you don’t have to do all the things right away. You have to set up small goals for yourself and figure out what you can do today to reach those goals.
3. Time management
If you don’t schedule
You always have to allocate time for your music. You may schedule your free time using personal calendar applications, set yourself reminders, stay organized. Scheduling your time may be a game-changer for your music career.
Automating your daily routines such as social media posts, emails, and passive income will save you a lot of time and energy for your music-making process.
You can use HootSuite or
To greet your subscribers via email you can MailerLite, Sendinblue or Mailchimp
Speaking of passive income, as a musician you can allow someone to use your own song in a piece of visual work in exchange for payment. This is what they call a music synchronization license, or a sync license.
5. Community is everything
Find your community. Hang out with musicians who are better than you, because you know, Aretha Franklin would probably say there are better singers than her. And Jimi Hendrix probably thought there were better guitarists than him.
In general, your community will always keep you motivated and you will not experience a lack of objective opinion.
And the most useful tip for you is to always think positively. Look at your music career several years ago. Then look at where it is today. A good vibe in itself spreads and returns opportunities tenfold.
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