Maximize Your Money – Financial Literacy for Music Creators
(Moderator: Andrea England) Financial literacy is a key skill either to be mastered by the artist or taken care of by hired professionals. This panel will provide you with an introduction to the areas of finance that will support you through all stages of your career and beyond. We intend to make seemingly difficult concepts accessible, so you can focus on the things you are passionate about.
Topics covered in this panel: Sources of income: touring, product sales, different types of royalties.
Budgets: Key for a) personal life, b) tours, c) recording projects d) saving and investing. Results in cash flow smarts.
Business of copyright: exploitation, proper registration / licensing of songs, world of “publishing”
Investments: The Basics (GICs, ETFs and stocks)
Financial Planning: What can a plan tell you and when should you start?
Common Mistakes for New Investors: FOMO and a discussion of risk
Managing remittances for taxes: payroll or income tax instalments
Retirement planning: rrsps. tfsa. emergency savings.
Building your team to ensure financial health in all dealings: (bookkeeper, lawyer, accountant, business manager, career manager, agent etc.)
Speakers
-
Andrea England
Board of Directors | Associate Director of Publisher Engagement and Strategy
Songwriters Association of Canada | CMRRA -
-
-
-
