Todd Moscowitz and Sony Music’s Santa Anna strike deal with hip hop label Trill EntertainmentNew deal comes less than a week after Santa Anna's partnership with and investment in Drake's OVO Sound
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Jupiter-8 replica JT-16 “will come to fruition”, says Behringer, shares prototypeBehringer, after what you might call a brief hiatus in releases from the brand, has shared the first prototype of its JT-16 synth, which bears a striking resemblance to the Roland Jupiter-8.

READ MORE: The 10 biggest music tech releases at NAMM 2024

In a post on social media last week, the German brand revealed a new early version of the JT-16, a polyphonic 16-voice synth. According to Behringer, the synth is in its “early stages” as they look to focus on “debugging and implementing the necessary software”.

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A post shared by Behringer (@behringer)

“After many years,” Behringer wrote on Thursday, “we have finally created the first prototype of our upcoming JT-16, a 16-voice polyphonic synth.
“Our product engineer, Gilles, who is also a synth enthusiast, couldn’t stop playing with it, but we managed to pry it away from him for a moment to capture it on camera.
“Currently, the synth is in its very early stages, and we are now focusing on debugging and implementing the necessary software. We kindly ask for your patience, but we assure you that this beauty will come to fruition.”
Although not specifically referred to as a replica, the synth does bear many resemblances of the legendary Roland Jupiter-8 synth, which was released in 1981 and can cost upwards of $25,000.
Side by side, the JT-16 and the Jupiter-8 share all the same features in the same layout: There are features dual oscillators per voice, the filter section includes high-pass, low-pass, and band-pass options, there are multiple LFOs and envelopes, and loads of modulation options. It also includes a programmable arpeggiator and sequencer with very Roland-esque buttons.
It’s not the only Roland replica to be shared by Behringer recently. On Sunday, it shared another photo to Facebook, this time of the Behringer RD-78, a clear clone of Roland’s 1978-launched RC-78.

When shared our RD-78 yesterday, people proposed different color schemes. What do you think about this idea?#behringer #NAMM2024 #musictribe #synthesizer #drummachine
Posted by Behringer on Sunday, January 28, 2024

With 14 tones and 10 knobs for control, the RD-78 looks to offer authentic sound shaping, accent, balance, tempo adjustments, and track selection. It also replicates the fade in/out function, offers variation options, and includes a complete sequencer with pattern memory.
Read more about more Behringer products in the works.
The post Jupiter-8 replica JT-16 “will come to fruition”, says Behringer, shares prototype appeared first on MusicTech.

Denon’s PerL Pro are just a rebrand of the excellent NuraTrue Pro – with one crucial benefit£300/$349, denon.com
Why fix what ain’t broke, right? When Denon acquired Nura in 2023, customers shared concerns about how the merger would impact Nura’s current and future products. Denon, it turns out, isn’t yet overhauling the innovative audio devices by the now-defunct Australian brand. Instead, the hi-fi corp has started recycling previous Nura products by slapping its logo on the awesome NuraTrue Pro, and letting you have ’em pretty much as Nura intended.

READ MORE: NuraTrue Pro review: Your new favourite wireless earbuds?

Denon’s PerL Pro, an exact recreation of the NuraTrue Pro, are a pair of earbuds that you simply have to consider buying. With Nura’s trademark extraordinary sound personalisation (now called Masimo Adaptive Acoustic Technology), easy operation, lossless audio and an intuitive companion app, these are still some of the best earbuds out there.
Since we reviewed the NuraTrue Pro last year, you can apply everything we said about them to the PerL Pro. We’re not going to spend much time on what’s similar about them. There’s almost no difference beyond the name of the app – now called Denon Headphones — and the logo on the case and earbuds. Otherwise, they are literally identical down to the voice assistant and the reference track the app plays you when setting up your hearing profile. There is one benefit, though, which we’ll get to shortly.
Also, note that the whole point of these earbuds is the personal hearing profile. Rtings.com rated these poorly because “the default sound lacks detail”. But this is a feature, not a fault – the default sound intentionally lacks nuance because the app will apply a custom EQ to make them sound uniquely exciting to you. We’re still convinced that the neutral sound is designed to sound incredibly poor just to emphasise the sound personalisation effect, though.

Oddly, no company other than Nura (Denon) has managed to implement such technology in its headphones — sound personalisation is simply a game-changer. There’s also spatial audio capabilities, which should be expected from new major earbuds in 2024 following the spatial race among streaming services, and it works effectively in the PerL Pro.
Anyway, here are the downsides: Lossless audio is superb to have, but most wireless listening devices don’t have compatible hardware, so it’s wasted on many buyers; they’re expensive at £300 — the same price as the NuraTrue Pro — which already makes them more expensive than earbuds favoured by critics, such as the Sony WF-1000XM5; the ANC isn’t best-in-class but we still find it very effective on transport and walking around outside. Some might take issue with the aesthetics of the earbuds, but we like the design — the case is still bulkier than the likes of the AirPods Pro, but very portable nonetheless.
So not much has changed since our review last year.
But there is one crucial benefit to these having the Denon stamp over Nura: Customer service.
Nura was a small company based in Melbourne, Australia, founded by Dr. Dragan Petrovic, Dr. Luke Campbell, and Kyle Slater. The products, led by the flagship Nuraphone, were award-winning and jaw-dropping. But, by the time the NuraTrue Pro rolled around, we were hearing whispers of poor customer service and maintenance.
Denon PerL Pro
We received several emails from customers who highlighted the poor experience they had with the Nura team after they faced difficulties with their products. We can only assume that the operation was becoming more complex than Nura expected and could handle, resulting in long response times to customers and troubles in getting replacements sent out within a reasonable timeframe. Also, the company’s subscription service has raised a whole host of problems with people demanding returns and refunds.
Denon ain’t no ma and pa brand. The Japanese company has been around since 1947 – 1910 if you count the company before its first mergers — and holds significant weight in the consumer and DJ markets. We bet this will have a positive impact on the rebranded Nura products. Plus, Denon didn’t just buy the Nura branding, it bought a lot of the personnel and engineers from Nura, which suggests a continued high standard of audio expertise.
To clarify, most problems users faced with the NuraTrue Pro were Bluetooth connectivity and range. Although, after around eight months of use, we noticed power and charging failures with the NuraTrue Pro — weirdly, the issue resolved itself after a couple of weeks without use and they’ve been fine ever since. But we’re yet to face any connection issues with either the PerL Pro or the NuraTrue Pro, and the range is pretty reliable.
Denon PerL Pro up close
All things considered, it’s a surprise to see the PerL Pro absent in any ‘best earbuds in 2024’ guides from other publications. The price is probably the main deterrent, but we’d still recommend these to anyone who cares about sound. Multipoint connectivity is excellent, too, as are the customisation options in the app, the microphone for calls, and the battery life.
A year ago, this reviewer said the NuraTrue Pro are his favourite earbuds. With the PerL Pro, this is still true. And I even alternate between the NuraTrue Pro and PerL Pro because, frankly, I just prefer the Nura logo. It really doesn’t matter — they’re still the same excellent earbuds.
Key Features

Personalized sound via Masimo AAT
Lossless and spatial audio
Adaptive active noise cancellation (ANC)
Eight hour battery, 24 with case
aptX Lossless, aptX Adaptive, aptX Classic, AAC, SBC Bluetooth codecs
Denon headphones companion app
Multipoint connectivity

The post Denon’s PerL Pro are just a rebrand of the excellent NuraTrue Pro – with one crucial benefit appeared first on MusicTech.

“That old-ass piece of gear made our vocals come to life in a way they never had up until then”: Chromeo on the magic of the Eventide H3000Chromeo have credited the Eventide H3000 multi-effects unit for making their vocals “come to life” on their upcoming album Adult Contemporary (arriving 16 February).

READ MORE: NAMM 2024: Suzuki announces OM-108, the first Omnichord in 26 years

Speaking to MusicTech, the Canadian electro-funk duo revealed what it was like working with Storm Queen producer Morgan Geist, whom they’ve enlisted to mix their new record. According to member Dave 1, the combination of Geist’s magical, analogue-loving touch and an openness to experimentation helped the group achieve what he calls “their best-sounding vocals yet”.
“The breakthrough on that was [Eventide’s] H3000 on all my vocals, all the time,” Dave explains.
“In our minds, H3000 equals Phil Collins and Peter Gabriel, so we never really went in on it. But Morgan [convinced us]. Half the songs have no reverb on the vocal – more than half! It’s just H3000. That old-ass piece of gear made our vocals come to life in a way they never had up until then.”
“When we first approached Morgan to mix the album,” Dave adds, “we asked ‘How long do you need to mix each song?’ and he was like ‘A week’. A week per song? I was like, ‘We’re not gonna make the deadline’. So he said, send me the songs as you finish them, so we re-jigged our schedule. But that allowed us to finish a song, send it, finish a song, send it. So as the process was evolving, our production process also became more cognisant of what this was gonna sound like.”
“Morgan’s not an engineer, he’s an artist. And I think that’s what all mixing should be, personally,” says P-Thugg.
Released in the late ’80s, the H3000 Ultra-Harmoniser was often known as the ‘holy grail’ of multi-effects units. It quickly became a go-to for guitarists, both in the studio and in their live racks, shaping the iconic guitar sounds of artists like Van Halen and more.
The post “That old-ass piece of gear made our vocals come to life in a way they never had up until then”: Chromeo on the magic of the Eventide H3000 appeared first on MusicTech.

Bandsintown adds Artist Growth Workspace integrationTour dates listed on Bandsintown can now also be seamlessly integrated within the popular Artist Growth Workspace app. Last year, 600,000 registered artists posted more than than 1.5 million shows. Continue reading
The post Bandsintown adds Artist Growth Workspace integration appeared first on Hypebot.

The 10 biggest music tech releases at NAMM 2024Just as we thought the popularity for the NAMM Show – one of the world’s largest music tech trade shows that’s been going since 1901 – was starting to dwindle, 2024’s winter edition swiftly became one of the most exciting yet. Taking place last week in Anaheim, California, brands such as Korg, Yamaha and Suzuki shocked us with a heft of innovative new gear releases, reigniting excitement for what will be another exciting year for new music gear.

READ MORE: NAMM 2024 recap: All the biggest synth, studio, DJ and software releases

The team here at MusicTech were there in person on the show floor to learn more about and to have a play on all of these new pieces of gear. Here’s our list of the top 10 music tech releases that took place at NAMM over the weekend:
The MicroKORG makes a macro return
Image: Korg
There’s not much argument to be had about it: Korg stole the show this year at NAMM. We saw an updated Opsix MKII, new Nu:Tekt additions, a fun new portable record player in the form of the Handy Traxx Play. The new Grandstage X electric piano was a big deal and, of course, there was also the re-issue of the classic PS-3300 synth.
The headline act, however, had to be the genuinely unexpected return of the microKORG, a hugely popular synth/vocoder that was originally launched in 2002. The new microKORG 2 “is not just a new instrument; it’s a new chapter in synth history,” says the brand in a bold statement.
Read more about the microKORG 2.
The first new Omnichord in 26 years arrives
Credit: Suzuki
Ever since Gorillaz’s frontman Damon Albarn revealed that the main body of Clint Eastwood was an unedited preset from the Omnichord, Suzuki’s retro strummable synth has been on the lips of gear nerds worldwide. At NAMM, it made a long-awaited comeback with the release of the new Omnichord OM-108, set to commemorate 70 years of Suzuki Musical Instruments. It has all the character of an old school Omnichord but with new presets for modern genres such as trap and an expanded chord pallet from 84 chords to 108.
Read more about the Omnichord OM-108.
Yamaha goes portable with its SEQTRACK creation station

When Yamaha unveiled its new SEQTRACK, a portable all-in-one creation station, just before NAMM, it looked to be the headliner of the trade show. In many ways, asides from the rehashing of classic popular synths, it did.
Taking inspiration – we think it’s fair to say – from Teenage Engineering’s OP-1, the SEQTRACK is a small unit that packs in a drum machine, a sampler/synth and a modulation station so you can create a whole track in the palm of your hand. No, it’s not a big heavy analogue synth, nor is it a blast from the past. What it could be, however, is a nod towards a future of more portable, accessible music creation.
Read more about the Yamaha SEQTRACK.
AlphaTheta makes a splash with two products for on-the-move DJing
Credit: AlphaTheta
Another juicy takeaway from last week’s NAMM Show is that AlphaTheta, the parent company that owns Pioneer DJ, released two products. It also announced it would be retiring the Pioneer DJ name for future products, simply going with AlphaTheta from here on out. How huge is that?!
With big shoes to fill, it did so in style with its ultra-portable DJ setup, consisting of the Omnis-Duo, a denim blue all-in-one DJ system, and Wave-Eight, a Bluetooth speaker that caters for DJs and works seamlessly with the Omnis-Duo.
Read more about the Omnis-Duo and Wave-Eight.
PWM gives us Mantis, a new synth built with synth legend Chris Huggett
Credit: PWM
British synth maker PWM released the Mantis, a duophonic hybrid-analogue keyboard synthesizer, in collaboration with the late synth pioneer Chris Huggett. Inspired by Huggett’s Wasp and OSCar synths, the Mantis features digital oscillators and an analogue signal path.
It was originally teased at Superbooth, and offers two oscillators and a sub-oscillator per voice, analogue filters, LFOs, envelopes, and modulation routes. Additional features include an arpeggiator, digital effects, USB MIDI control, and a 37-note semi-weighted keyboard with aftertouch and velocity.
Read more about the PWM Mantis.
Audient reveals ORIA, an audio interface tailored to immersive mixing
Image: Audient
More listeners these days are expecting to be offered the opportunity to listen to their music in spatial audio. Heck, Apple Music even recently said it would pay artists who mixed in spatial audio 10 per cent more in royalties.
That’s why when Audient launched ORIA, an all-in-one interface and monitor controller designed specifically for multi-speaker arrays, it really got us excited. That’s because it gives yet more producers and engineers the tools to mix music in this way and keep up with a growing trend. They can also do so for a lot cheaper now, thanks to ORIA, as it comes in at around $3k.
Read more about the Audient ORIA.
Heritage Audio’s i73 PRO I/O range makes “the golden era of recording available to everyone”
Image: Heritage Audio
Heritage Audio’s new family of audio interfaces, the i73 PRO ONE, i73 PRO 2, and i73 PRO EDGE, really sparked major interest at NAMM, as the brand promised to make “the golden era of recording available to everyone”. How? Each interface features built-in Class A 73-style preamps, which is a first for USB-C interfaces. They give you varying input options and analogue warmth reminiscent of the early 1970s, which is certainly an exciting innovation.
Read more about the Heritage i73 PRO range.
Dubreq’s CPM DS-2 is modulation mayhem
Image: Stylophone
Dubreq launched its updated Theremin recently, which was awesome. We were most interested, though, in the Stylophone CPM DS-2 (CPM meaning ‘compact, portable, modular’).
Key features of this small synth include two analogue oscillators, sub-oscillators, and filters, with pitch linking and hard sync options. The robust LFO section offers 14 waveforms, vintage modulated delay, and eight reverb algorithms. Additional features include built-in speaker, stereo outputs, modular patch points, and Eurorack compatibility.
Read more about the Dubreq CPM DS-2.
Korg takes the Opsix up a level with its MKII model
Credit: Korg
Korg delivered yet another new synth in the form of the Opsix MKII at NAMM. It builds on its predecessor with expanded sound components and 30 high-definition effects. With polyphony increased to 64 voices and a 16-step pattern sequencer, users can create intricate soundscapes.
Read more about the Korg Opsix MKII.
New Finnish brand Supercritical unveils a stunning desktop synth, Redshift 6
Image: Supercritical
Supercritical, a new synth name from Finland, looked to make a scene at NAMM with its beautiful Redshift 6. The synth offers a versatile sound palette, from warm analogue tones to digital cleans and chaotic distortion. Featuring an analogue four-pole state variable filter and modern synth features like modulators, flexible routing, MPE, and DSP effects, Redshift 6 is described as a “Variable Character Synthesizer.”
Read more about the Supercritical Redshift 6.
The post The 10 biggest music tech releases at NAMM 2024 appeared first on MusicTech.

Who even listens to Eminem anymore?While the name “Slim Shady” may not have the same ring it did two decades ago, Eminem still boasts impressively high numbers in the streaming age. Will his real listeners. Continue reading
The post Who even listens to Eminem anymore? appeared first on Hypebot.

How to create a music EPK that sells: FREE WEBINAR

Team Bandzoogle is offering a free webinar on creating one of the most important and affordable marketing tools available to musicians today: the Electronic Press Kit, or EPK. Bandzoogle’s Learning.

P-Thugg of Chromeo: “Working with Philippe Zdar was the first time I realised how the mixing process could be as artistic as the music”Electro-funk duo Chromeo have looked back on the transformative experience of working with producer and mixing engineer Philippe Zdar of Cassius.

READ MORE: Laidback Luke’s first partnered launch since Denon DJ departure, the Algoriddim Reloop Mixtour Pro compact DJ controller, is here

Speaking in a new interview with MusicTech, members David “Dave 1” Macklovitch and Patrick “P-Thugg” Gemayel share how the late Zdar – who worked on the pair’s second and third albums Fancy Footwork and Business Casual – was instrumental in the development of their sound.
“Fancy Footwork was when we found our sound,” Dave says, “and he had a big role to play. With Philippe, we gave him really raw tracks – they didn’t have much processing. Our songs only had like 13 tracks of music, and three tracks of vocals, so he was able to give the music its space, and do his thing. It was a really beautiful process.”
According to P-Thugg, their time with Zdar helped him recognise the art of mixing: “Working with Zdar was, for me, the first time I realised how the mixing process could be as artistic as the music,” he tells MusicTech. “[Before Zdar], I thought a mix was a mechanical thing. When we received the first mixes [from him], I was like ‘Woah, this is a different song.’ There’s artistry in that. There’s kookiness.
“It made me look differently at the process of mixing and the process of producing. I keep that until today.”
Also in the chat, the pair discuss their upcoming album Adult Contemporary, which is due out 16 February.
“On this record, we did everything with P and me,” Dave explains, “with only one mixing engineer, one mastering person – two people we choose specifically for their sound, two people who only work with analogue – and it was a whole other musical adventure.”

The post P-Thugg of Chromeo: “Working with Philippe Zdar was the first time I realised how the mixing process could be as artistic as the music” appeared first on MusicTech.

Posted Reaction in PublMe Community Space: Music from Within.
Signing Story: Carpool Date Signed: October 2023. 
Label: SideOneDummy Records. 
Band Members: Chris Colasanto, guitar, vocals; Tommy Eckerson, guitar; Milo Duhn, bass, vocals; Alec...

NAMM 2024: Oeksound unveil Bloom Bloom is Oeksound's first studio plug-in in four years and is described as an adaptive tone shaper.

NAMM 2024: Waves Space Rider plug-in Waves is now shipping the Space Rider plug-in, a versatile reverb/delay/chorus multi-effect suite, featuring a distinctive ‘Rider’ function that helps create dynamic mixes...

Recent Classical Highlights for January 2023Normally our monthly classical reviews cover a good mixture of symphonic, chamber, vocal, and other music. This past month, however, there seems to be a lot of keyboard music including the music of Gershwin and Rachmaninov as interpreted by Earl Wilde recorded by American pianist John Wilson (pictured).

7-Point Checklist To Investing And Building WealthBy Bobby Borg and Britt Hastey

(Excerpted from Personal Finance For Musicians with permission of Rowman & Littlefield)

Invest! Invest! Invest! It’s time for musicians to make money and get rich quick. After all, the pandemic of 2020 still has everyone in a hole and nothing could be better than striking it big! Right? 

Perhaps! But let’s not get ahead of ourselves. The road to true wealth (measured in assets and liabilities) is a long process. It involves several steps you must check-off before grabbing your mobile phone and the latest investment app to try your luck. Read: Investing is not a game!

What follows is our 7-point checklist to responsible investing and building wealth. We start at the beginning with creating a steady flow of income all the way to playing with funny money if you must. Have patience—at times the process might seem boring and include advice you’ve already heard, but investing was never meant to be fun or sexy when done right. 

NOTE: The seven steps presented here are in a systematic order, but depending on your situation, feel free to skip straight to investing or tackle two or more steps simultaneously. Just be sure to speak with a financial planner to make sure that your path to success is right for you. 

1 CREATE AND MAINTAIN A STEADY FLOW OF INCOME

The first step to investing and building wealth is creating and maintaining a flow of income.

If you are a musician earning zero income or just living from one gig to the next, you are never going to get anywhere unless you turn on the money faucet. This could mean getting more music gigs, utilizing freelance methods, or getting a “real” job! Let’s consider these options: 

Get More Music Gigs: Always attempt to use your musical talents for work first. For me (Bobby speaking), I offered drum lessons in the house that I was renting with roommates. With a little advertising, I had 30 students at $30 an hour. On top of that, I got a house gig with a soul band at $225 a week for three nights a week. Furthermore, I played weddings with the teachers at Berklee College of Music on the weekends at $300 a pop. If I could earn 5k out of school, so can you. 

Utilize “Regular” Freelance Methods: If music gigs are not an option, go with all of the available “regular” freelance methods to make money. One musician we know drives for Uber, Postmates and Instacart and brings in several thousands of dollars per week (all without missing a single band rehearsal or evening gig). This guy even showcases his music to his Uber customers to get feedback while he works! In one instance, he even picked up a famous record producer which led to a studio session.

Get a “Real” Job: Finally, if none of the above situations work for you, go for a steady day or night gig. We suggest you find something that is connected in some way to your ultimate dream of music. One musician we know got a steady gig working as a salesperson at Guitar Center. Not only did he make steady money, he promoted his gigs to customers to increase his concert draw, and networked with equipment reps to secure endorsement deals. He killed two birds with one stone.

Look gang, whatever route you take, just remember that the road to investing and building wealth starts with your own ability to generate income. While this might sound like common sense, you’d be surprised at the number of musicians who still sleep on their friend’s couches penniless waiting to get discovered on TikTok. While people do get lucky, don’t bet everything on number 7. So, roll up your sleeves, be strong, and put your human capital to work.

2 CREATE AND LIVE

BY A BUDGET

Okay, so now that you have a steady flow of money coming in, it’s time to create and live by a budget. Remember, it’s not how much you make, it’s how you manage your money that counts. Follow these three steps: 

Set a Savings Goal: Create a monthly objective setting forth a percentage of your take-home pay that you’d like to save each month. To illustrate, if your take-home pay was 5k a month, your objective might be to save 10 percent (or $500). 

List Expenses: Now list all of your expenses showing how you’ll cleverly use that 5k to meet your savings goal of $500. Know that fixed expenses like rent will be easy, but other expenses like groceries will require you making an educated estimate based on what you spent in prior months. And finally…

Track Expenditures: Track all of your expenditures throughout the month by counting receipts. If you stay on budget, then bravo for you. If there are overages, then readjust your budget and try again. Eventually, you’ll find a plan that works for you. And best yet, you’ll have that 10 percent surplus of money you were shooting for. 

While creating a budget might seem like a lot of work, remember that it really is the hallmark to getting your financial shit together. And like everything else in life, the more you use a budget, the easier it will get. So, take our word for it gang, live and die by a budget! 

3 PAY OFF DEBT AND ESTABLISHSTRONG CREDIT

Now that you have a surplus of monthly cash, put it to good use by knocking out your debt. 

For most musicians, debt will probably be limited to credit cards, school loans, and an automobile. Whatever the case, just know that there are number of strategies to get debt-free. Consider the following: 

Use the Debt Avalanche: Use the “debt avalanche” strategy to double-down consistently on your “highest interest loan” while at least paying all your minimum balances on your other loans. Once paid off, take the amount of money you allocated for the highest interest loan and add it to the minimum payments on the next highest interest loan, and so on, until you no longer have debt. 

Use the Debt Snowball: Alternately, you can use the “debt snowball” strategy to double-down on your “smallest balance loan” while paying at least all your minimum balances on your other loans. Once paid off, take the amount of money you allocated for the smallest balance loan and add it to the minimum payments on the next smallest balance loan, until you no longer have debt. 

Look peeps, the bottom line is that paying off debt means ridding yourself of wasteful interest payments. Furthermore, it means building your credit for important loans down the road, and saving a little money that you can use for a rainy day. 

4 ESTABLISH AN EMERGENCY FUND

After digging yourself out of debt (congratulations), the next step in our 7-step process to investing and building wealth is using that surplus money to establish an emergency fund. This is money you amass for life’s unexpected moments when all things go south. Consider the following:

Save For Six Months to a Year: Attempt to save at least six months worth of living expenses. I (this Bobby) personally feel more comfortable with one year of living expenses. I was injured in an accident (struck by a truck) and it took longer than a couple of months to heal. On top of that, it took a couple more months to reestablish work. So, whether it’s six months or a year, just build up that freakin’ fund ya’ll. 

Keep It Liquid, But Let It Grow: Keep your emergency fund in a safe place where it is liquid (immediately available) and growing in interest. Consider a savings account with an online bank, a money market account with a local bank, or a short-term bond fund via a brokerage company like Vanguard. Where ever you park your money, just remember you’ll need access to your “cash in a flash” when the “shit hits the fan.” So, never tie this money down in stocks or long-term CDs or bonds. And finally…

 Keep It Fully-Funded: Remember that should you ever use your emergency fund, you need to refund it. Be clear that the plan is to be fully-funded and ready for any emergency for the rest of your life. Okay? Good job! Now. Let’s move on.

5 START SAVING FOR RETIREMENT

Now that you have a job, a budget, no debt and an emergency fund, we can begin thinking about shifting all your surplus money into retirement accounts. Make no mistake, retirement (or retirement planning) is not just for old folks, it starts as early as 20 years old and lasts a lifetime. Be sure to consider the following: 

Take Advantage of Employer-Based 401Ks: Start by taking advantage of “tax-advantaged” accounts such as a 401K offered by your employer. This allows a payroll administer to direct a portion of your pre-tax income directly into an interest earning account to grow and be taxed upon withdrawal in retirement. You can contribute as much as $20,500 a year if you’re younger than age 50, and $27,000 annually if you’re 50 or older. And if your boss is really cool, they’ll even match additional funds up to a percentage of your contribution (yup, free bonus money). Hey, this is the best deal in town. 

Open Up An Individual Retirement Account: Now, if you don’t have access to a 401K, open up an Individual Retirement Account (IRA) on your own. A Traditional IRA allows you to personally invest “pre-tax” dollars to grow and be taxed upon withdrawal in retirement. You can contribute as much as $6,000 if you’re younger than age 50, and $7,000 when you’re age 50 or above. There’s also a Roth version of this plan (Roth IRA) where you can personally invest “after-tax” dollars to grow and be withdrawn tax free at retirement. All good stuff! 

Look, no matter which retirement accounts you use, just be clear that Uncle Sam makes it easy for you to save for your retirement and avoid thousands in taxes over your lifetime. While doing this, you can still utilize other non-retirement accounts (called “taxable accounts”) for short-term objectives (like buying a house) or even long-term investments (like extra retirement income). But just be clear that maxing-out your tax-advantaged retirement accounts first is always a good idea. Seriously! Retirement is an investor’s biggest priority. And don’t forget it! 

6 INVEST RESPONSIBLY 

After completing all six steps of our 7-step process to investing and building wealth, you can now consider yourself a financial rock star. So, go ahead, take a bow, you’ve come a long way. 

But now you need to really focus on the principles of investing responsibly. After all, it’s not enough to just throw your hard-earned money in tax-advantaged (and taxable accounts) and just hope for success. Hope is never a long-term and sustainable financial strategy. Believe that! Consider the following nuggets of wisdom: 

Always Set Investment Goals: Setting goals, or more specifically, the time horizon of each goal, is critical to investing responsibly. You see, it’s time that typically determines the type of investment vehicle that you will use. As a general rule, the longer the time horizon for your goals, the riskier and more rewarding the investment (such as stocks). The shorter the time-horizon for your goals, the more conservative and less rewarding the investment (such as short-term bonds). This is generally because a long-term investment strategy can better hedge against the associated risks of market swings or downturns. To illustrate, a long-term goal of saving x dollars for retirement in 50 years, would typically mean utilizing a large variety of stocks. A mid-term goal of saving x dollars for a modest house in 10 years, might mean utilizing a mix of stocks and bonds. And a short-term goal of saving x dollars for a modest car in three years, might be to use short-term bonds, bank CDs, or money market funds. So always remember, goals and their time-horizons heavily influence your investment decisions.

 Know Your Risk-tolerance: Knowing your risk tolerance and the amount of money that you are comfortable with potentially losing, is also important to investing responsibly. Or said another way, knowing your allocation of stocks to bonds is critical to your investment success. Remember that stocks (which are highly volatile) and bonds (which are less volatile) are not widely correlated and can help to balance out your portfolio over your life-time. The legendary Jack Bogle (Vanguard’s founder) says, “Put your age in bonds and the rest in stocks.” So, if you are a 20-year-old musician saving for retirement, you might put 80 percent into stocks and 20 percent into bonds. At age 40, your portfolio might hold 60 percent into stocks and 40 percent in bonds. And at age 70, your portfolio might hold 30 percent in stocks and 70 percent in bonds. You get the point—your investments become less risky as time progresses. So, knowing your risk tolerance and getting your stock to bond ratio right is important to both building and preserving your wealth. Take this tip very seriously. 

Diversify Your Portfolio: Diversifying your portfolio is yet another extremely important tip to investing responsibly. This essentially means that rather than trying to find a needle in the 

 haystack (i.e., picking the winning stock), you buy the whole freakin haystack. This means buying investments such as index mutual funds that cover a number of different companies, sectors and geographical regions. To illustrate, a 30 year-old investor might purchase a 70/30 (stock to bond) risk allocation including: Vanguard’s Total Stock Market Index Fund (which contains 4,070 companies in technology, consumer discretionary products and financials all over the U.S.); Vanguards Total International Stock Market Fund (which contains 7,754 companies in consumer cyclicals, financial services, and healthcare all over Europe, the Pacific and emerging markets); and Vanguard’s Total Bond Market Index (which contains 10,127 investment-grade bonds in US treasuries, and mortgage-backed securities all over the U.S.). As you can see, index funds are very diversified and can prevent you from putting all of your eggs in one basket. This way you win some and lose some, rather than lose everything on a one-horse bet. 

Avoid Management Costs: Keeping costs low is also extremely important to investing responsibly—and this is where the news is really going to get great. Not only are index funds (just mentioned above) a highly diversified investment, they can also be one of the lowest-cost investments. This is because index funds track a stock market index and do not require the more expensive “active management” associated with other types of mutual funds and individual stocks. Since the fund essentially mirrors a section of the stock market, tracking its performance is much easier and less time consuming. It does not require the daily management of numerous stock transactions attempting to beat the market returns. This is why time and time again, expert investors such as Warren Buffet have strongly recommended index funds. So, if you’re smart, this just might be a great move for you too.

Aim to Beat Inflation: Another super important tip to consider when talking about investing responsibly, is the risk of inflation on your investments. Inflation (an increase in prices and decrease in the power of money), has averaged at about three percent over the last decade. This essentially means—in this example—that your investments must earn three percent in annual interest to keep up with the pace of inflation. If your money is sitting in the bank earning an annual interest rate of .01 percent, you’re screwed. Thus, your best chance of beating inflation is probably going through an investment vehicle like our trusted Vanguard stock mutual index fund. While past performance is no guarantee of future results, stocks have historically provided higher returns than other asset classes. This, coupled with the low costs associated with passively-managed index funds, will likely help you net the decent annual returns on your investments you need to succeed. Just, remember, inflation is critical to watch. 

Aim to Lower Taxes: Dovetailing nicely from inflation costs, taxation also poses serious costs on investment returns. According to the Schwab Center for Financial Research, this is because you not only lose the money you pay in taxes, but you also lose the growth that money could have generated if it were invested. 

 This is why it is so important that you employ as many tax-efficient investment strategies as possible. Here’s just three to think about: 

1) Max out your “tax-advantaged” retirement accounts (401Ks, Roth IRAs, Traditional IRAs, etc.) each year since these accounts are almost like free gifts the government provides to help you save on taxes. 

2) Invest wisely in your other “taxable accounts” by using long-term buy-and-hold strategies that won’t trigger regular short-term capital gains taxes (which are higher taxes incurred from selling your investments in under a year). And finally, 

3) Delay a portion of any lump sum payment you might be owed (like a large publishing or merchandising advance) till next tax year. This way you might avoid falling into a higher tax bracket and paying more income tax in the current year. Sounds good? Look gang, whatever strategies you use, just never pay more in taxes than you need to. Avoid taxes legally when you can.

Avoid the Noise and Stay The Course: Finally getting to the end of our investment tips, know that avoiding all the financial noise in the media and just staying the course is hugely important to investing responsibly. There are so many experts filling you up with supposed opportunities and gloom and doom, it’s enough to make you bail ship on your financial plan in search of a better solution. But if you’re constantly buying in and out of the market due to greed and fear, you are doing yourself a major disservice. You are allowing your emotions to get the best of you, costing yourself time and money, and creating a lot of stress and worry. So, stop looking at your investments every minute and have faith in long-term investing. Sure, the movements of the stock market are always going to fluctuate on the short-term, but know that the market tends to rise steadily over the years. In fact, since 1928, the U.S. stock market has averaged returns of 9.8 percent per year. So, go live your lives a little. Write that new hit song that brings in hundreds of thousands and go get that publishing deal. Have faith that you put together a killer financial plan, and stand by it. Know that staying the course is a sound piece of advice. It’s also the famous slogan of Vanguard’s founder Jack Bogle (who actually created the Index Fund). Wow! Godspeed! 

7 PLAY WITH FUNNY MONEY (ONLY IF YOU MUST)

Finally, moving away from our perspective on investing responsibly, it’s time to play with “funny money,” if you must. 

Funny money is money you can afford to lose. It’s the money where you can be highly speculative, throw down on a crypto stock pick that some guru mentions in a Facebook group, or invest in a buddies’ restaurant. Who knows, you might even get super rich and finally get that mansion, yacht, and lime green Lambo, It doesn’t matter if you lose it because it’s all about having a little fun. After all, you deserve it. You’ve busted your ass, followed our advice, and have the above six steps completely under your control. Hey, whatever makes you happy! 

But before running off to the race track, it’s important to look back on the past. Throughout history, people have always been trying to get rich quick. There was the gold rush of 1848 where everyone got greedy thinking they were going to strike gold (most didn’t); there was the dot com craze in 2000 where everyone got greedy thinking they were going to strike it rich (most didn’t); and now there is the crypto thing where people want to get a taste of the millionaire dream (and many have already lost their asses

Look, if you want to play with “extra” money, have fun! But always be realistic about the odds and never let “playing” get out of control. Adhere to our six steps above, and remember smart investing is not supposed to be fun. Take this advice seriously folks. Okay? 

So that’s our 7-point checklist to investing and building wealth. This stuff is not revolutionary, but it is crucial to your personal financial education and your future. 

Some of this stuff you’ve likely heard elsewhere, and some of it you’ve read in other articles and books (by us!). But maybe that is the point—what works is worth repeating. And what works is worth adapting to your own investment playbook.

On that note, give these tips a try, and speak with a financial planner who can cater to your needs. One or two sessions can never hurt. Sound good? Peace!

RECOMMENDED READING ON INVESTING 

Here are a few investment books and other resources that we highly recommend. After all, life-long learning should be yet another smart step to every responsible investor. Happy reading! 

BOOKS

• Personal Finance For Musicians by Bobby Borg and Britt Hatsey

• The Little Book of Common Sense Investing by Jack Bogle

• The Little Book of Bullet Proof Investing by Bill Stein and Phil DeMuth

• How to Think About Money by Jonathan Clements

• The Random Walk Guide to Investing by Burton G. Malkiel 

• Rescue Your Money by Ric Edelman

• The Wealthy Barber by David Chilton

• The Richest Man In Babylon by George Clason

• The Index Card by Helaine Olen and Harold Pollack

• The Coffee House Investor by Bill Schultheis

• The Bogleheads Guide to the Three-Fund Portfolio by Talor Larimore

• The Bogleheads Guide To Retirement Planning by Taylor Larimore, Mel Lindawer, Richard Ferri and Laura F Dogu

• Common Sense Investing by Rick Van Ness

• Why Bother With Bonds by Rick Van Ness

• Think, Act, and Invest like Warren Buffet by Larry E. Sweroe

• Four Pillars of Investing by William Bernstein

• The Only Investment Guide You’ll Ever Need by Andrew Tobias

• Get a Financial Life by Beth Kobliner 

WEBSITES

• Investopedia: investopedia.com

• Nerd Wallet: nerdwallet.com

• Bankrate: bankrate.com

• The Finance Buff: thefinancebuff.com

• Oblivious Investor: obliviousinvestor.com

• Forbes Advisor: forbes.com/advisor

• Yahoo Finance: finance.yahoo.com

• Morningstar: morningstar.comThe post 7-Point Checklist To Investing And Building Wealth first appeared on Music Connection Magazine.

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