When you live in Never Never Land, aren’t things supposed to be fun? According to Michael Jackson’s latest financial woes the answer is no. Earning large amounts of money since he was five, how can Michael Jackson
have a fiscal fiasco?
It boils down to spending versus watching the bottom line. Although Jackson’s bottom line included 50% ownership in The Beatles Catalogue, a stake in the Elvis Presley and Bob Dylan Catalogues estimated to be worth Ã?Â½ a billion dollars, not to mention his own catalogue how can anyone go broke? By not paying attention to the bottom line.
Here is what Ms. Rae has to say, “In the highly competitive world of the music industry, it is never wise to sail alone. Equipping yourself with the necessary resources can ensure safe passage through the often rough waters of show business, and lead the aspiring musician straight to musical success.”
So what are some good choices for those seeking out high profile careers and the money earned in those careers?
Seek out great financial advice.
Learn from others who are where you want to be.
Contact those people you respect and admire and seek out their advice and get the names and contact information of accountant’s and financial managers who have helped them.
Read veraciously on the Internet and in the library.
Most of all watch the bottom line. Oprah still signs her own checks and watches the accounting ledger like a hawk. If you don’t do this, you will be giving your money away and walk away with nothing or bankrupt.
Jaci Rae has been talking about the bottom line in the music industry or any industry for that matter for several years. Countless hours on her radio show, aptly name The Jaci Rae – Rae of Hope Show and in her best selling music industry business manuals, The Indie Guide to Music, Marketing and Money and The Ultimate Guide to Music Success, Ms. Rae goes into great detail to help the struggling artist or star struck hopeful learn how to avoid financial disaster and still keep the creative juices flowing.
Perhaps Michael Jackson should pony up the mere $25.95 for one of these books and tune into her radio show every week. In any industry it is imperative to watch the bottom line so you won’t fall off the cliff.
Michael, if you’re reading this, seek out a financial counselor instead of the “yes” people you have around you. In the long run they aren’t helping you at all. But most of all, forget the spending sprees, you’ve run out of quarters to go on the rides at Never Never Land. by Marcie Hammer