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  • 10 Tips for Combining Your Career and Financial Goals

    A few weeks ago one of my clients told me that she was taking a class in career and money management and wanted to know how actors can formulate a financial plan in today’s economic climate. The best way to do that, is to tie together your economic and career goals. 
    We all live in times of tremendous economic flux. Gone are the days when a person could work for General Motors for 50 years and enter retirement with a hefty bonus and a gold watch. Our business has always operated under a model that makes planning even more difficult. While a company like General Motors uses 90 percent of its budget for production and 10 percent of it for research and development, in our business, all the money goes for research and development. Here’s an example:
    A studio pays a writer $1 million to write two scripts. The execs hate one of them and trash it, thereby losing half of their investment. They put the other script into “development” which means plugging it into a system where 10 studio executives descend on it, rip it apart, and add things their research departments tell them are “trending well.” If, at the end of that process they don’t put that script into production, the studio is out

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