Please welcome guest poster Bailie Slevin of Entertaining Finance to the blog!
Bailie has a decade of experience as a financial advisor, in addition to having stage managed, general managed, and produced on Broadway and Off-Broadway! Today she’s sharing her tips for financial stability, something we all strive for!
THE ASSET TRIFECTA
OK, miss smarty pants financial adviser, if you have all the answers, where should I put my money?? (I’m betting that’s what you’re thinking now.)
And, really, that’s exactly what you should be thinking! Not to be honest, I’m not actually going to answer the question of where YOU should put YOUR money because I have no freakin clue. I’ve never met you! And even if I had, it would take much more than a cursory conversation to advise you adequately on any financial decision. What I am going to do is give you a way to think about where you want to put your money based on what you want your money to do. And I’m going to use pictures because that makes everything easier to understand.
The first way we are going to start to differentiate financial products is by how they are taxed. Now, I am not an accountant. I don’t want to be an accountant. And this is not accounting advice. But this is about tax. In the US there are 3 ways to grow your money:
Taxable, Tax Deferred and Tax Free. (This is the first level of The Trifecta.)
Moving on let’s see how each works.
Money goes in after tax (for this I mean any money that an employer has paid you that you had income tax taken out of before you even saw it). The money sits in this bucket and hopefully grows. As it grows you get a tax bill on the realized gain (realized gain means the investment is now in some form of spendable dollar and a larger amount then you originally put in). If the money was in the investment for less then 12 months you pay Ordinary Income Tax on the growth (just like on your paycheck). If it was in that sucker for over 12 months you pay Capital Gains Tax which, as of this moment is 15% for people earning under $400,000 a year and 20% for those earning above that number. Check out the diagram. Some examples of this kind of account are savings, checking, stocks, corporate bonds, mutual funds ETFs, brokerage accounts.
Long time no see. This has been the craziest year for me, and blogging has sadly taken a back seat during all of it, but I’m here this morning with a couple of hours to spare and I’d love to catch you up on what I’ve learned this year!
My year in a nutshell: I fundraised over $8k to shoot the short film CHOICE I wrote, took an incredible trip to Egypt with my husband, got elected to serve as a National Councillor of Actors’ Equity, shot my short film, launched Lady Plays podcast, and…got pregnant! Whew, what a whirlwind.
One of the things that kept me from starting a family for a long time was the fear that I would have to give up my career to have a baby. And while I haven’t yet started the adventure of actually raising said baby to adulthood while trying to balance an artistic career, I have learned a lot about how being pregnant affects your work and what you can do to stay artistically busy while your body is busy growing a human. Read more…
Please welcome Jessica Leigh Smith to the blog today! Jessica is an Atlanta-based actor and Mom, who has co-starred on One Tree Hill and Drop Dead Diva (both times while pregnant! you go, girl!). She shared some of her actor-mom wisdom in our post on the subject, and is back to talk self-producing, as she’s recently launched her own web series called Alyssa’s Tips for Easy Parenting.
Check out her self-producing wisdom and her awesome web series!
Make Self-Producing Work for You
We’re a good 10 years into the concept of self-producing your own web series. And actors have been self-producing since the dawn of Hollywood (check out the origins of United Artists for a classic example). What could I possibly add to the discussion?
Honestly, all I can really add is my own experience. But I hope that my personal story of how my show came to be will inspire you to get yours off and running.
We have to go back seven years, to 2008. I had been acting for two years and had just finished devouring everything Bonnie Gillespie uttered in her blogs on Actors Access. http://more.showfax.com/columns/avoice/index.html
I was pumped, so I brainstormed with a friend on what we could do together. We created a new take on the odd couple theme set in a faux reality a la The Office, with a surprise ending. Read more…
We as artists have the hardest time not only finding work, but getting help finding work. Unless you are in college (and for some people not even then), there isn’t any place out there to help theatre artists get proper feedback and advice on the paperwork side of things like resumes, cover letters, artist statements, and more. Really the best way to change that around is for someone to stand up and do something about it. Therefore I’ve decided to start a small side business in helping theatre artists with resumes!
My business Theatre Epitome (greek origin for both “a summery of written work” and “a person or thing that is a perfect example of a particular quality or type”) has the sole mission to help any and all theatre artists from actors to designers, new in the industry or has been working for decades, with Community Theatre credits to Broadway credits; create the best resumes they can. For $20 an hour I’ll provide professional feedback on any and all theatre resumes or other related paperwork you have! All I need from any prospective client a digital PDF of what you want feedback on ahead of time, then for you to provide a printed copy on the day and time of our consultation session (unless you live too far to commute to NYC, then we’ll do an online consultation).
As someone who’s currently entering her late 20’s, I’ve had interviews at Broadway and well-established Off-Broadway venues such as Manhattan Theatre Club, MCC Theatre Company, Atlantic Theatre Company, Ensemble Studio Theatre, and more based on my own resume. I feel very grateful for the opportunities I’ve had and the skills I’ve developed, so I feel passing them onward would be helpful.
Contact me if interested (and pass along the info to those that might be)! Anyone that has issues contacting me directly can directly contact “The Red Headed Actress” through Green Room Blog to get ahold of me.
Would this change your life?
I was living in Sedona, AZ.
I volunteered to collect email addresses for Eve Ensler (the creator of The Vagina Monologues) when she was performing her hit one-woman play, The Good Body in Scottsdale, AZ.
I was a huge fan, and had recently performed as The Angry Vagina in The Vagina Monologues in Flagstaff, AZ. We raised over $20,000 in one night to fight violence against women and girls worldwide.
I didn’t expect anything from Eve. I didn’t ever think I’d see her personally after the show in Scottsdale.
There was a group of twenty people waiting for Eve outside the stage door which was about 30 feet ahead of me in the auditorium. If I had any hope of meeting her…that kind of sealed my fate…or so I thought.
Fifteen minutes later I watched as her fans walked away from the stage door and left the theatre all at once. As the last person walked outside and closed the door behind them, Eve came out suddenly, walking straight to me. (The way the theatre was set up she couldn’t see the people who just left. They were just gone)
Eve Ensler asked how it was going. I told her how many emails I collected for V-Day. I complimented her show and told her specific moments from The Good Body that moved me and inspired me. I informed her that I had my own one-woman show called My Brooklyn Hamlet and how I might do some things a little differently because of seeing her in action. I told her I admired her boldness.
She did a long once over of me in my bright green top, purple jeweled skirt and purple suede boots and said, “I can’t imagine you have a problem with being bold.” My cheeks flushed as I chuckled. Read more…
I am scared to death. I’m backstage at one of the top acting schools in Los Angeles. I am about to tell my story, my real story in an exercise called a personal monologue.
I’ve got the unloaded gun I borrowed from a fellow student on stage already, alongside my flute and just a couple of props. I’ve given the stage manager the cue for my music at the end of the scene and I’ve even enlisted a friend in class last minute to join me on stage for a final dance to close out the piece.
Why did I ask to do this? I felt inwardly guided and yet I am now sweating, fear gripping me, knowing that I may be judged severely and the truth will be known…the truth I’ve been hiding for years. My father killed my mother and married her sister just a few years ago. He shot her in the head, cleaned up the crime and then abandoned me forever. My life is a Shakespearean tragedy.
Lights up, curtains open, all eyes in this 100 person class are on me.
I am free. I am in the moment. I am telling my truth through story and music and movement and narration. I’m being seen as I really am, in all my vulnerability and strength. My secrets are out for the first time since that fateful night and in that reveal I am free.
That short piece changed my world. Not only did I get a standing ovation but several of my peers flew over to me during the break and through tears they shared their secrets which were heavy until then. A directing student wanted to direct me and I was off. I realized I could change peoples lives. Read more…
Please welcome guest poster Sam Garland to the blog! She’s here today sharing why self-producing is one of the greatest tools for actors that most people never take advantage of. And you all know how much I admire actors self-producing! :)
WHY YOU MUST CREATE YOUR OWN WORK
There are many reasons why it’s important for actors to be creating their own work. (In fact, I just hosted a free training call where I delved into all of them. Plus, I shared some awesome-sauce ideas on how to jump in and get started with a project tailored to your talents. Want to grab your free copy? Click here.)
But I wanted to highlight one in depth for you today. Quite simply, it will make you a better actor.
Let me explain.
First, I have to confess that I am slightly addicted to acting classes. I love the safety, the support, the constant stretching. I love knowing that I’m growing, and working on my craft. And I love the high I get from being in front of an audience and committing to a role.
But the difference between acting in class and acting as a job is like — apples and snakes. Read more…
Please welcome Alex Soare to the blog today!
Alex is an opera singer and the founder of ArtRise, a social network for creative professionals. He’s sharing some wisdom with us today that you may find comforting if you feel like your professional success has an expiration date.
13 Wildly Successful Actors Who Made it Big Late in Life
Hollywood is chock-full of kids fresh out of high school, hoping to make it big in the movies.
Most of them will decide by age 25 whether they can make a living as actors or not.
However, there are many big names in Hollywood who didn’t achieve massive success right away – some toiled away for many years before landing a dream role, while some didn’t start acting until they were in their 30’s.
If you need a little motivation to keep trucking, learning about their unconventional paths to stardom may just do the trick.
- Harrison Ford
It’s hard to believe, but Harrison Ford’s career was languishing until he auditioned for the role of Han Solo in Star Wars at the age of 33. The Star Wars trilogy got him into Steven Spielberg’s Indiana Jones franchise, and Ford has been a bankable star ever since. In fact, ford didn’t even take acting classes until his college years, which he signed up for to help get over his shyness.
- Sylvester Stallone
Sure, he’s Hollywood royalty today, but Stallone wasn’t cast in Rocky until he was 30 years old, and up until that time he was so broke, he performed in pornographic movies to pay the rent. Many don’t know that Stallone is partially paralyzed on the left side of his face, which is precisely what gives him such distinctive facial expressions and enunciation – talk about overcoming the odds! Read more…