What I would do if I earned $1,000,000 in the music industry…

Hey, c’mon. A brother has to dream! As the music industry has gone into massive decline over the last decade or so, there have been many naysayers running around saying that music is dead, and that there will be no more huge stars in the music industry. Then, there was Lady Gaga. And Muse. And Adele. Adele… wow.

It occurred to me this morning that I have some pretty strong ideas about this topic – and I thought it might be interesting to share, although I could have legitimately titled this blog “what I won’t be doing with my $1,000,000” or something like that.

So… the crazy hypothetical: I just earned $1,000,000. First thing, find the nearest tax haven. Seriously. (Random-ish tangent… to all of you purveyors of taxation  – I have nasty words for you in my head that I keep to myself. What I will say is that the popularity of this idea tells me two things: 1) the “rich” aren’t the only greedy bastards around (everyone knows envy is one of the seven deadly sins, right?) and 2), none of you believe in your own upward mobility, which is sad indeed.)

Ok, now that I have that out of my system..

1.) Obvious – I would pay off all of my debts. Yes, including my house.

2.) I would give away 10% to charity.

3.) I would re-invest 20% into my own business.

4.) I would have roughly 55% left. The next 20% would go into a rainy day fund for my family.

5.) The remaining money would be invested into growing the businesses of artists I know and believe in. Yep. Is it the most practical thing? No. But it would change the lives of a lot of my friends.

What wouldn’t happen – a nicer house, huge gifts for my friends and family, sending parents to Hawaii, rice-burners, giant stereoes… I’m honestly over that stuff.

So… what would you do if you had $1,000,000?

This entry was published on December 10, 2012 at 10:30 pm and is filed under Art, observations, politics, thoughts about music. Bookmark the permalink. Follow any comments here with the RSS feed for this post.

One thought on “What I would do if I earned $1,000,000 in the music industry…

  1. Christian on said:

    I would go pretty much the same route you went with it here… almost to a T. The one thing I might change is that I would probably start a college fund for the boys.

    It’s scary how much we think alike when it comes to money. Takes balls to tell the truth about the class warfare bit here too. Not too many creatives have the guts to say something like this.

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