CHAPTER 21
Securing the Future
CHAPTER 21 - EXCERPT
Right after college, my wife and I worked as entertainers on cruise ships, all expenses paid. For two and a half years, we saved nearly every penny we earned while seeing the world for free. I also wrote lots of music. By the time we returned to land, we had enough money saved to make a down payment on a home and buy some basic studio equipment.
Our first home was a run-down duplex in an otherwise upscale neighborhood. We remodeled the tenant side first and rented it out, bringing in enough money to pay the mortgage each month. Between music scoring gigs, we fixed up the landlord side, doing as much labor as we could ourselves. When the market heated up, we sold the duplex for a big profit. Subsequent real estate purchases have followed a similar pattern...
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CHAPTER 21 - EXCERPT
Beginning 25 years ago, I began investing a portion of my music earnings in real estate and stocks. Whenever possible, I negotiated for copyright ownership in my music scoring projects. I slowly built up a library of music assets which I owned. Years later, I sold the business, including the name, equipment, and music library for a substantial sum. Most of the cash proceeds were invested in real estate.
Those investments have grown to a point where I am comfortably retired today. That is not because I am a unicorn or extraordinary outlier. The strategy can work for anyone…
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