When people start out in the influencing or streaming industry, retirement is usually not at the forefront of things they are planning for. However, as these individuals grow in popularity and turn their influencing hobby into a career, planning for the future should be a topic that gets addressed sooner rather than later.
That is why in the following post, we will not only discuss why retirement planning is so critical for influencers and streamers, but we will also go over the things you can start doing now that can financially help you down the road.
Come Up With a Plan for the Future
Influencers tend to have fluctuating income streams. As a result, if you are looking to set up a retirement plan, it is critical you have a good understanding of the money going out and the money coming in. This can give you a better idea of how much money you will be able to give up and put away to start building a retirement nest-egg.
However, if you are unsure where to start with this process, don’t worry. Working with a financial planner with experience in the influencer industry can help you create a comprehensive plan that can set you up for the future.
Don’t Wait. Start Saving Now
Influencing as a career may not last the rest of your life. That is why it is important to start saving money as soon as possible and try to save more than you are comfortable with. This way, you can build out your savings over time and create a nice amount you can fall back on.
Look Into Retirement Accounts
Because you are technically self-employed, as an influencer, there may be certain retirement accounts that you can start today that will help you save money and maximize retirement contributions, such as:
- Traditional IRAs or Roth IRAs
- 401(k) plans
- SEP IRA
However, to know if these plans would be the right option for you, consider discussing them with an experienced financial planner who can help you understand how they work and whether they fit your situation.
Think About Investing
If you have a while to go before you plan to retire, investing aggressively will give you a better chance of securing the money you need to live comfortably once you decide to quit. Better yet, starting early will also allow you to have more investment options to choose from, such as bonds, stocks, and cash investments. This can give your investments a better chance to grow until you are ready to use them.
Work With Ardent Guardian
At Ardent Guardian, we make planning for retirement simple. We handle your taxes, accounting, legal work, and even your financial planning, so you can focus on your business while we help you plan for the future.
If you are thinking about retirement plans or want to know more about what you can start doing now to get ahead, contact Ardent Guardian today to request a consultation.