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Tiffany had 1 hit song. She toured shopping malls. The 1 hit was a cover song. She doesn't have publishing, since someone else wrote the song. Someone else gets paid every time she performs in public.
It's difficult to watch people struggle with transitioning out of entertainment. At least they had a moment in the spotlight.
I once heard a story about Edison Lavatai. He took a job at Blockbuster Video. As he was trying to stock shelves or check out rentals, people would stop him for autographs.
There was a local musician who had charted hits. Everyone knew him. Restaurants made him pay first, before they would serve him. He was so broke, that he sang at my friend's birthday party......... At the Daly City Rec Center. He got paid $250.
Guys I know at The Jail are always talking about different celebrities getting booked. Always drug and/or alcohol related.
It's difficult to watch people struggle with transitioning out of entertainment. At least they had a moment in the spotlight.
There was a segment the other day about the Grateful Dead and how they managed their expenses by adopting a mostly DIY system. They sold their own tickets; did only one or two "studio" albums (most of their music was traded by people who recorded the live concerts). My SO probably has 3 or 4 hundred concert tapes.
I remember Tiffany, and her one song. I also remember her singing at shopping malls. I never went to see her, but I remember reading about her. Many years ago after the show Punky Brewster went off the air, my sister worked for Apple One temp agency and told me that Ami Foster came in looking for work. She played the rich kid friend of Punky, Margo something. Ironic, play a rich character, and then end up working at a temp agency when your 15 minutes of fame is gone.
Financial management should be a required course in school. When I got my $106k, I went through it in six months. I did pay off all my bills and gave my brother $20k to start a business, that was $45k together, so $61k in six months. Still a ridiculous amount. only have myself to blame though.
It's not what you make. It's what you do with it. Many of us have already blown through a small fortune. I don't even want to think about how much I have wasted.
In the days of yesteryear, you had to have money to make money. A lot of people simply didn't have the minimum amount to open a brokerage account, or the minimum investment to buy into a fund.
In today's world, almost anyone can buy into anything. You can open an account for free. Trading is free. They even allow sales of fractional shares. And there are tons of index funds.
A dummy like me could buy into whatever, at whatever I can afford. If I eat 1 less meal per week at McDonald's, I could put $25 into McDonald's, and own over $1,000 of McDonald's stock in a year. Do that over a lifetime . Direct reinvestment of the dividends every quarter. It adds up.