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Taylor Swift made $80MM last year...
Old 04-11-2016, 12:26 PM   #1
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Taylor Swift made $80MM last year...

They were talking about it on the radio this morning and mentioned a few other names, the lowest they mentioned I believe was Leonardo De Caprio at $20MM.

We all know it but it hit me, of course, they have their expenses and taxes too but still what these guys make in one year many of us will never see in a lifetime.
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Old 04-11-2016, 12:47 PM   #2
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People with extraordinary talent who achieve the highest levels of fame are of course going to make orders of magnitude more money than people who aren't very talented or accomplished. Same is true for people who have extraordinary business skills or athletic skills. This seems natural to me and is just what you'd expect based on our evolution as a species and a society. The "best" at certain things tend to be rewarded at very, very high levels for being so special. What would be surprising is if this weren't the case.
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Old 04-11-2016, 12:52 PM   #3
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And Taylor Swift is quite a remarkable business person in addition to being a remarkable talent.

I also suspect her work schedule is not one many of us would envy.
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Old 04-11-2016, 01:02 PM   #4
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I wonder if she will ER?
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Old 04-11-2016, 01:07 PM   #5
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I have no doubt that she works hard for her money, as most people do in that industry. In reality, she makes more than most CEOs, and many people claim CEOs are the villains.

However, removing the cap on SS taxes would allow more money into the SS fund. A lot more in this case.
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Old 04-11-2016, 01:09 PM   #6
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Pity Judge Judy at only 47 million a year. Of course she only works 3 days a week.
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Old 04-11-2016, 01:12 PM   #7
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I'm counting on 1/2 of that as my SS spousal benefit.
[oh, darn, there goes the alarm clock.......]
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Old 04-11-2016, 01:17 PM   #8
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And [the] Taylor Swift [family] is quite a remarkable business [group] in addition to [her] being a remarkable talent.

I also suspect her work schedule is not one many of us would envy.
I don't know her personally, but my impression is that she didn't fall far from the family tree. Her mom and dad are sophisticated and were very involved in structuring things with her. The organization they've helped her set up has had some strong full-time finance professionals onboard. (I met her dad "before" and still run into him very occasionally.)

As for the work schedule, I think that in stretches it would be horrendous.... But she is in a position to strike while the iron is hot--and who knows how many years both the opportunity and the desire will be there.
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Old 04-11-2016, 01:28 PM   #9
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But she is in a position to strike while the iron is hot--and who knows how many years both the opportunity and the desire will be there.
In her case the iron is not the only thing that's hot
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Old 04-11-2016, 01:42 PM   #10
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I don't know her personally, but my impression is that she didn't fall far from the family tree.
Wiki describes her family this way . . .

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Her father, Scott Kingsley Swift, is a Merrill Lynch financial advisor.. . . Her mother, Andrea Gardner (Finlay) Swift, is a homemaker who previously worked as a mutual fund marketing executive.
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Old 04-11-2016, 02:07 PM   #11
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Wiki describes her family this way . . .
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Her father, Scott Kingsley Swift, is a Merrill Lynch financial advisor.. . . Her mother, Andrea Gardner (Finlay) Swift, is a homemaker who previously worked as a mutual fund marketing executive.
I'm sure they have her in a bunch of front loaded, back loaded, high ER funds and variable annuities.
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Old 04-11-2016, 02:21 PM   #12
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It is amazing how much entertainers at the top earn! Athletes, singers, actors, etc., who become "stars" at their game can really haul it in. All thanks to consumers of the product they're selling!

In particular, I'm amazed at how pro sports has become such a giant in the entertainment industry with athletes earning big bux and the franchise owners sometimes being worth billions. All because we gleefully buy the product!

The fact that Swift has accumulated a mountain of money and established a business empire sets her apart from the others who have only high current earnings.
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Old 04-11-2016, 02:21 PM   #13
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I'm sure they have her in a bunch of front loaded, back loaded, high ER funds and variable annuities.
True but even with the load I think she will be FINE. The lower your income the more important the lack of the load is.
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Old 04-11-2016, 02:36 PM   #14
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I'm sure they have her in a bunch of front loaded, back loaded, high ER funds and variable annuities.
She can afford it.

But LOL anyway.
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Old 04-11-2016, 03:22 PM   #15
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Remarkable talent? I thought this thread was about Taylor Swift...
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Old 04-11-2016, 03:24 PM   #16
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They were talking about it on the radio this morning and mentioned a few other names, the lowest they mentioned I believe was Leonardo De Caprio at $20MM.



We all know it but it hit me, of course, they have their expenses and taxes too but still what these guys make in one year many of us will never see in a lifetime.

In my case, about forty lifetimes... 😫
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Old 04-11-2016, 03:34 PM   #17
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Remarkable talent? I thought this thread was about Taylor Swift...
Well, talented at making money in the entertainment industry, at least?

But I have been curious, I really don't know - is she talented, music-wise? Subjective of course, but if anyone can link to a youtube or other source which they feel shows off a solid musical ability, I'd appreciate it.

There are some pop stars who don't impress me at all with the pop hits I hear, but I've occasionally heard clips of them where their abilities really shine. And I'm saying "Heck, I didn't know she could SING!".

-ERD50
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Old 04-11-2016, 03:49 PM   #18
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But I have been curious, I really don't know - is she talented, music-wise?
She supposedly writes her own music and plays four instruments, so I'd say yeah.

I've personally never been fond of Dylan as a signer, but that don't mean he ain't got mad talent.

And I don't listen to Swift, but I do think her story is impressive.
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Old 04-11-2016, 03:54 PM   #19
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I admire performers who don't go to the point of being "overripe". Taylor, of course, has a long way to go. But, right now, Madonna is way overripe and needs to just stop already. Hope Taylor doesn't do a Madonna.

Grace Slick retired and has been outspoken about some of her contemporaries going at it too long.

Gary Larson hung up his pen and stopped the "The Far Side" before it got too ugly.

Then there are the legends JD Salinger and Harper Lee who ended it early. Unfortunately, Kurt Vonnegut went too long and some of his late stuff really ticked me off. Sorry I bought those books.

But most writers/singers/songwriters who stop or severely slow their craft intentionally are forgotten, so you may not know it is their choice because they are FIRED!

Here's someone you may remember and it is an interesting story. He slowed down after making it big, whether that was intentional or not I don't know. But he surely has good business sense. The Times In His Life: A Q&A With Franke Previte « American Songwriter

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When was the first time you saw significant money coming in from songwriting?

After “Sweetheart” was a hit on the radio. That song in total has made about $125,000. It was survival money. It doesn’t last long when you are on the road and paying bills.
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I was offered $1000 each for “Time Of My Life” and “Hungry Eyes.” But, being from the school of hard knocks and being beaten many times, I told them “give me $3500 a song and let me keep my publishing. And they said ‘done!’ Now I had $100 to my name at that point. Dee Anthony (legendary manager of Peter Frampton and more) was managing me at the time. He was away when I cut the deal. So when he got home I told him about the deal and he said ‘You f’in a@hole! We could have sold that publishing and gotten 25 grand each song. Do you realize what you did?’ I told him, guess what, you’re fired!
<NOTE: he still makes 6 figures per year over those songs>
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Old 04-11-2016, 04:02 PM   #20
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The "best" at certain things tend to be rewarded at very, very high levels for being so special. What would be surprising is if this weren't the case.
Like Nikola Tesla. Van Gogh. Alan Turing. Ignaz Semmelweis. Philo Farnsworth.

More mundanely, stellar high school teachers don't get financial or career rewards any different than mediocre ones typically. In most jobs that holds up actually. It's inverse.

Only in a handful of professions you have very skewed renumerations like this. Performers, CEOs, business founders, investment managers, and sportsmen. Not even all sportsmen. The world champion rythmic gymnastics probably doesn't earn $1m a year. While a mediocre hedge fund manager might.

Talent and hard work doesn't automatically translate in higher wealth. Vice versa alot of wealth and high income earners aren't that special, they're lucky. There is a correlation of course (thankfully in my view!), it's just not that strong as one might hope.
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