How do music stars go bankrupt?

We are continuing with the lesson on BIG MONEY and how NOT to become bankrupt.  

Music stars, yes, music stars live a very glamorous life right?  

They ride in fancy cars, wear the latest clothes, diamonds, houses, jet planes, champagne . . . all in front of the camera.  Yes, it's great.

But what they don't tell these stars is when the cameras stop recording and they are sitting at home alone, they better break out the Excel Spreadsheets . . . or better yet, the pen and paper and calculator and make sure they have money left over.

Here is the Late Great Lisa "Left-eye" Lopez of the singing group TLC explaining how a group that should over 10,000,000 records in one year (yes, that's 10 million) can be in bankruptcy.  

Listen carefully, because all this information can be controlled from the beginning if you work your CONTRACTS correctly (which most people that gain a big wad of money do not do).  When someone starts talking to you and mentions money that is in the millions.  Time to talk to a lawyer and make sure that lawyer is getting you EVERY ADVANTAGE on that contract.  

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What should you do if you get BIG MONEY!

Josh Childress explains: What Happens When You Sign A $11 Million Deal In The NBA 

There are a lot of people (more than you are aware) that fall into money.  Yes, this can happen to you.  You could win the lottery, become famous, become a sports star or win a settlement . . . and of course you could inherit [it can happened!]

If you are going to have big money, you have to be ready to manage BIG MONEY.  The stats show that people that have a "wind fall" (i.e. a lot money gets dropped into laps) are broke within 3-5 years.  We are NOT going to have that happen to you.

Here are some people that know what it's like to have sudden money.  Listen to their story and take notes of what they did.  You, my dear, are NOT going to be them.

Antoine Walker Lost $110 Million Dollars

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Never Give Up on Your Dream!

What can I say?  Time passes.  Are you still fighting for your dream or have you given up on it? My dream has always been the same - (1) to be a successful business woman making six-figure income from my own business and having the freedom to enjoy my family and loved ones.  (2) To write for a living and do all the things that I love to do so that work feels like FUN.  (3) To help people gain their dreams so that I can have powerful and influential friends.  I hope you have joined me in my adventure.  

Happy 2015 everyone!

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