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I've been wanting to get into the film directing business and I am producing and directing my first feature film.* However, I am also in the process of buying my first home and why these two things had to happen in my life at the same time, I am not sure.* Because after these two things, and will no longer have any savings hardly, and so I will be*making money as I go after.
It's life of course, but does the fact that both are happening at the same time, mean something has likely gone wrong here?* Or am I just anxious and should not be thinking about it is a sign at all, and just happenstance?
Thank you for any advice on this!* I really appreciate it!
Congrats on the film. Guessing that directing gig allowed enough income to make a home purchase possible. A correlation is fairly normal.
While I don't know, I would imagine directing is a lifetime of project work, and all the ups and downs in between. It's not wrong to want cushion, especially as you start increasing responsibilities....so don't celebrate too expensively at the Oscars. Bank it and keep some liquidity so you can keep making payments when times are tougher.
Rule of thumb: How long will it take for you to get a replacement gig. If the answer is 10 months...that's how many months of consumption you are looking to save. (But at least get money market returns).
I'm not sure how long really, it's been completely unpredictable. However, I think there is a good chance I won't make money off the movie, unless we find a distributor.
By "producing and directing" What do you mean? This is a home project? Do you have any experience in this area? Is this to make money, or is it a money pit, vanity project?
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I'm not sure how long really, it's been completely unpredictable. However, I think there is a good chance I won't make money off the movie, unless we find a distributor.
I have a friend I grew up with in a small town who is a really cool artist. I truly love her work. She works with metals and has a little shop in which she performs her trade. In the front of her shop, however, is the reality of where she lives. She has a hair dresser studio and she cuts hair. She has to cut enough hair to make sure her ongoing bills are paid. When her art sells, then she has money for savings. That savings is what needs to build to someday allow her to eventually replace having to cut hair.
In some way or another, you'll need to have ready income available to make those payments and keep the home up. If you invest those bursts of cash, the income thrown off that money can help in turning the steady earning job into a series of investments. However, if you need that cash because that's the only money coming in, you'll need to do everything to ensure you can start to predict the completely unpredictable above. So it would indeed be a bit worrisome I think.
Be smart and be frugal until you can figure that out. Good luck to you. I hope it all works out.
I've been wanting to get into the film directing business and I am producing and directing my first feature film.* However, I am also in the process of buying my first home and why these two things had to happen in my life at the same time, I am not sure.* Because after these two things, and will no longer have any savings hardly, and so I will be*making money as I go after.
It's life of course, but does the fact that both are happening at the same time, mean something has likely gone wrong here?* Or am I just anxious and should not be thinking about it is a sign at all, and just happenstance?
Thank you for any advice on this!* I really appreciate it!
IMO it is a bad and risky sign. The future of your film is very far from guaranteed, as is your income. My daughter and husband are in this business, and the last year or so it has been very unstable and unpredictiable. Despite having an Emmy under their belt, they were out of work recently for the first time in their lives. They have the cheapest house in the Hollywood Hills, fixing it up themselves. And can afford it, but had to rely on savings recently. It does not sound like you have savings or a back up plan. So IMO very risky commiting to home ownership at this time.
IMO it is a bad and risky sign. The future of your film is very far from guaranteed, as is your income. My daughter and husband are in this business, and the last year or so it has been very unstable and unpredictiable. Despite having an Emmy under their belt, they were out of work recently for the first time in their lives. They have the cheapest house in the Hollywood Hills, fixing it up themselves. And can afford it, but had to rely on savings recently. It does not sound like you have savings or a back up plan. So IMO very risky commiting to home ownership at this time.
Oh okay thank you for the input! I have savings, but since houses are more costly now, I will have to spend a lot of the savings on the house right away in order to not have to pay as much interest later, if that's a good idea.
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. Part of this might come down to why these two events ended up popping up at the same time. How much control did you have over either one? 
