How can you make more money from your royalties? In this video I’ll talk about how I’ve been investing my royalty money and how it’s been going!
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Make your royalty money, or just money, work for you and get a free $5! I use Acorns and have made thousands of extra dollars with my royalty money! https://www.acorns.com/invite/AQ2BL3
Before I get into this I’m just gonna say upfront, I am not a financial expert, I’m not a financial planner this is just what has worked for me and what I’m doing currently. I’m still in a position where I have a full-time job in marketing along with writing and producing music. So I’m not 100 reliant on my royalties to survive. So what I figured I’d do, is I’d get a head start on making music my living by having my royalty money that I’m making now, kind of snowball and turn into more money and of course that means investing it.
So what I started doing about a year ago is I started taking my royalty money and some other extra money I had sitting around and investing it every month into my Acorns account. Now you might be asking “what is Acorns?” Well it’s a lovely app that invests your money for you. It’s incredibly hands-off so if you’re not an expert with day trading or anything like that you don’t have to worry about it all. You basically pick what kind of portfolio you want, I’ve picked moderately aggressive, and in the last year I’ve had over an 18% return, and that is amazing.
So my royalty money is just sitting there, making me more and more and more money. So whenever I decide to make that dive into doing music full-time, I have a nice nest egg already built up.
I highly recommend Acorns! It is so easy. I just put money in there every month and they do all the hard work. Like I said, I’ve had an 18% return! Fingers crossed it stays that strong! You can download the acorn app or go to their website. This is not sponsored by them in any way, this is just what I do and since I’ve been doing it, and it’s been amazing. My money has been growing strong and it’s off of my royalty money so basically I’m making my royalty money work for me even more so when I get that one stream, it’s actually worth much more than that one stream. So when you sell that album or you sell that single, make it worth more than just what you sold it for. Think about what that one song, that one stream, that one download, what that can be worth in five years and ten years. Because I’m sure as you know time goes fast. Five years ago seemed like it was yesterday.
- My Recording Rig:
- Tone Machine Guitar (Custom Built)
- Fractal Axe FX II
- Steinberg Cubase Pro
- Spitfire Audio
- Steven Slate Plug-ins
- Ernie Ball Strings
- D’Addario Snarling Dog Picks
- Avatar Cabinets
- Shot & Edited by: Zach Wirchak
Zach Wirchak 