Planning Your Financial Future

Musicians tend not to be the most foresighted financial planners. This is understandable as most freelance musicians aren’t salaried. A paycheck here from an orchestra, some cash there from private lesson. We fill up the gas tank, get some groceries and go home, waiting for the next monetary infusion.

And through all of this, saving and planning for retirement are probably not high on the priority list.

But, with the current economic and market conditions, THIS IS THE PERFECT TIME TO INVEST! EVERYTHING IS ON SALE! It’s always a good time to invest and plan for your future. The best advice I ever read about investing is this: When is it a good time to buy / invest? Now! Market up? Invest. Down? Invest. Stagnant? Invest.

Start at the Motley Fool.com to learn about investing.

Not-for-profit employees have the option of a 403(b). As a school teacher I take advantage of this tax shelter opportunity!!

A great option for freelancers is a Roth IRA.

If you have no experience or don’t want to do the research, go with an index fund.

To get started, I recommend Betterment ( use THIS link to save us both some money ) for mutual fund investing and RobinHood for buy individual stocks. I recommend these two because there are NO FEES to buy or sell.

 

 

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