i grew up with my guitar (i inherited from my ma and pa - children of the woodstock era,children of the flowers,hippies) a oxygen 8 midi keyboard and a cubasis loaded on some pc my cousing gave me as a present when i was 8 y old , this game pirahna had a cool trance-rave music playing i liked it, josh winks 303 classic bassline rave and a plentiful of years at psy parties,festivals ,drugz and whatnot , at the same time nirvana,decent regggae, hip-hop and rap i grew up on, for 20 years i worked in complete sh*tholes,warehouses,carrying all day, underpaid , onced i managed to become a somewhat known ghost producer amongst ppl and earned some sweet $$$ i quit it all , cant do this no more

i spent 10-12 hours a day every week of my precious time trying to bring food to the table

i have now a $500k amount in my bank acount , if i live until 100 i will be able to survive off of this sum without working another godamn day in my f@ckin life , all i care about is writing music,producing and composing,doing some exercise day after day to keep strong,bought a power rack and some barbell dumbells and weight discs and a magic bench by ironmaster and put it next to my bedroom

i dont need supercars,,poolhouses, hoes and babies to pay support (luckily my two kids are well off with their mother now)

i never made it in the music business, i was never loved ,nor me nor my music , i never enjoyed what some famous artists call "burning out" because of so much live playing ,traveling , festivals ,wish i had such luck

all i managed was write plenty of tracks for various dj's, bands ,crews and record labels and earn some $ in the process

i sometimes read through reddit forums and posts and whatnot

it seems that anyone can at his 18y old go to school finish law school or programming or business management analytics markets etc and in 4 years be set for life ,at 30 they can buy a home a good car , provide for their wife and two or three kids,enjoy vacations 2-3 times a year to anyplace they desire,, with an income that equals 5x and more time what we earned at warehouses and construction works

their attitude and what they write has made me hate humanity , they actually think they deserve to earn so much more with their 4 years of study partying with co-eds and cuties whilst the labourer at factories and construction should keep his mouth shut and be thankful for his minimum wage , a f@cking unfair life if you ask me

i wish and hope everyone and each of you manage to accomplish your dreams and become succesfull with your music making , earning money through your music is an actual proof that what you produce actually matters and means something to folk

 

i just seen this thread

how much of the 500k is music income?.....i mean how much did u make from music? or was it mostly from other jobs

if you actually managed to make a good amount from music i'm like.........amazed......

do you think you could have done it again today or there were conditions back then that maybe provided more opportunity or something


how do i feel as a musician? hmmmmmmm basically I see famous musicians and I feel sorry for them lately, how messed up it can make u...so yea trying not to think i am a musican if i can anyway be said i am

 

Last edited by a moderator: Apr 26, 2022

I'd turn the cash into assets before the great reset comes along and swallows it all up.

Disclaimer: This is not financial advice!

 

cash is cash u can invest it whenever u want wherever u want

once u turn it into the asset u have to assume that u can turn that asset into cash at some point

why not keep the cash given the uncertainty thats going on...especially these times, better to have cash rather than assets that might have a problem being sold

 

The IMF are using inflation as a way out of the current global debt crisis, and CBDC's are also incoming. We are living in precarious times, and even the director of the IMF said they were blindsided by the unintended consequence of printing too much money over the past few years, which could be code for a financial crash is coming. I would seek expert financial advice if I had large cash reserves. All my opinion of course.

 

ok but what we need to survive during these times is cash right? if you spend all your cash on an asset...lets say land....how will u survive

unless you mean like buying a flat and renting it out kind of thing?

 

It's up to every person to decide what they think is best for them, all I'm just saying is make sure you are prepared and have a good plan, as things could turn ugly if events such as food shortages and banking failures occur.

 

The IMF is using inflation as a way out of the current global debt crisis, and CBDCs are also on the rise. We are living in precarious times, and even the IMF director said they were blindsided by the unintended consequence of printing too much money in recent years, which could be an indication of an impending financial crash. Of course, that's just my opinion.

The world is totally over-indebted, the world economy is weakening, they have introduced minus interest rates on credit balances. You are at your wit's end. Correct is with inflation one destroys debts, a desired inflation is with 2%. What we have at the moment is a money supply expansion of unprecedented proportions. In short, the system itself has reached its end. Therefore the Great Reset.

We are in an everything bubble. At the moment we are not in an inflation, but in a shortage of goods. Collapse of supply chains Corona Pandemic and the war in Ukraine / Russia with the sanctions practice (i.e. trade wars), lead to a massive increase in the price of energy, food and raw materials. Thus the purchasing power decreases massively and hunger revolts threaten.

Since the WEF and other elite groups are observing everything very closely, and they know very well that the highly indebted world will never be able to pay off the debt, a trick was invented again, namely digital money, which is intended to abolish cash.

 

WEF - Klaus Schwab
The World Economic Forum is the International Organization for Public-Private Cooperation.

 

Are you looking for investment safe havens?
I recently inherited some prestige Martian real estate.
I am willing to sell selected lots to the first 50 lucky applicants.

DISCLAIMER: This IS sound financial advice, and as you can see - I have an honest face.
Please PM me your bitcoins at your convenience.

 

But it won't be easy.
$500K sounds much but it isn't when you divide it by 12 and by 69 years of equal ^withdrawel = $603 a month. If you see what its worth in 69 years ($153 compared with today @2% inflation rate) maybe its better to calculate with some more years of earning money (and not withdraw from the account)
Even if you calculate for only 39 years ($1,068/m), your monthly withdrawel would only be worth an equivalet of $493 in the last year.
btw: The formula is (1+(p/100))^n where p=inflation rate and n=years

The best compromise would be to earn and save for a few more years and then invest the amount of, say, $750K with an insurance company that guarantees you 2% interest and a lifetime annuity.
Depending on the legislature in which you live, this has the advantage that a pension would not have to be taxed or only to a lesser extent.

Spoiler: P.S.: There is nothing like a guarantee in life....

P.S.: There is nothing like a guarantee in life.
Especially not when it comes to such long periods of time. There is a high probability that there will be a currency cut at some point, for example. Then cash in any form is bad.
If, on the other hand, one buys only gold, there may - as has happened several times in history - be a ban on gold trading or even gold ownership.
If you are a pure landlord instead, there is a risk that the state will intervene in rental contracts and reduce the return or - as has happened several times in history - oblige the owner to take out forced mortgages.
The safest thing to do, therefore, is not to put all your eggs in one basket and to mix and match across all asset classes.

 

Last edited: Apr 26, 2022

As someone who's retired and living on a fixed income, I'd be happy if the inflation rate was only 2% per annum. It feels more 2% a month at the moment. Every time I go to the supermarket, the price of everything has gone up. When I was a kid, it went up by a penny. Now, it goes up by 25p or 50p (on an item that used to cost £1 or £1.50.)

And have you seen the price of fuel/electric/gas lately?

I've got assets at a similar level to OP. I'm worrying they won't see me out the next 20 years at the moment.

 

You have to take into account that nowhere is there so much lying as about money.
If you go by the entries in the relevant forums, everyone is rich.

In fact, however, if all the cars that were financed by banks were to stop all at once, the streets would be free in the morning and you could easily get a parking space in Manhattan with your rust bucket.
The rich 30-year-old who never has to work again is the absolute exception.

 

Last edited: Apr 26, 2022

You are right. At the moment the inflation rate will be horrible 6 or 8% p.a. here in Germany.
And in England its even worse. The family of my brother-in-law are retired fishermen. Holy god, they don't know how to pay their flat.
But I hope that will settle again.
But I can feel you because my ritirement is only 1,5 years ahead and I will be on fixed income as well. And now I'm in doubt if ist enough for a longer time.

Have you ever thought about leaving your country? I constantly do lately.
For example, you can live very well in Capetwon for little money. There you would be wealthy with so much money. Or the British Overseas Territories for you....not Pitcairn of course
Or Canada. But they don't want us old guys. When I was mid 20 I thought about going to Canada but I didn't and I regret it. Great country, nice people in the region I have relatives (Nova Scotia).

 

Last edited: Apr 26, 2022

Your standard of living will drop even further, lower incomes will suffer especially from these commodity shortages and increased energy prices. Now wages would have to rise in parallel.

Wage increases always lag behind. Some states have reduced the value added tax and some states pay people 200 EUR more a year from taxpayers' money. France 100 euros more unemployment benefit. Germany a one-time payment of 200 euros per year. Turkey has 6x higher food prices and has suspended VAT at the moment. In addition, the economy is shrinking and the debt mountains are rising.

 

Everything the working people get: wages, pensions, welfare, etc. is constantly lagging behind.
But we shouldn't get political now, or the thread will be gone again.

In any case, cash amounts, even if they feel very high, quickly become relatively small when it comes to long periods of time.
A friend of mine with a car repair shop asked me some time ago how much he would have to have in money to get a pension of 3,000€ at 60. I told him at the time that even at 63 he would need around 1,000,000€ EUR. That sobered him up a lot. I think he will work at least until 65 -

 

Last edited: Apr 26, 2022

You are Elon Musk and I claim my $10.

 

I would keep working either way, while you are still young. You don't want to be re-entering the workforce at 55 or 60; however long you can make your chunk of loot last. And if you do continue freelancing music, etc; depending on your country make sure you carry goooood medical insurance. Covid showed us that. A 4 week stay in the hospital with Covid the average bill was 1 million dollars.

One stroke of bad luck and you're screwed, if you are uninsured; like many freelance workers.

 

Really?

Sometimes its not thaaaat bad living in Germany. Everyone is insured.

 

This is a really disheartening thread, it looks like all asset classes can be taken away from you at some point and in some way and there's bad times coming.