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Hip-Hop Daily Dose #37: What Would You Do With $1 Million? 

Just a couple things first...

1. The new Laidlaw Media podcast show.

It's Episode 2 and we got another fire episode on the way before December hits!

2. Diving into hip-hop memorabilia.

Starting my collection and giving away my first pieces for free...

The first is an autographed photo of Common.

I have two different photos...if you win, you get your choice.

DM me your email or just click here to sign up.

You'll be entered into all my free contests.

Let me ask you...

If you had $1 mil, what would you do with it?

It's one of the most common questions I've heard throughout my life.

It's easy to sleep on it, but your goals and desires may be buried deep within your answer.

Most of the time I hear people saying they'd blow it all.

It's easy to spend it on a nice house, luxury car, vacations, and expensive products.

There’s nothing wrong with wanting to spend $ on yourself and have fun.  

But...the people who would blow through it all probably aren’t listening to this podcast 

There’s no way you’re listening to this if you don’t have long-term goals. 

Maybe in the past you answered this question and said you’d blow most of it.

$1 mil isn't actually a lot of $.

You'll likely need more than that to retire...just for 20-30 years of living expenses.

We’ve heard hundreds of stories of athletes making millions and blowing through it all ending up bankrupt.

It's easy to do.

The Breakdown

You'll have to pay tax on this income.

You don't really have $1 mil.

Let's keep it simple and not get too bogged down in the taxes...

We'll just say you're starting with $750,000 cash.

Here's what I'd do with mine.

It aligns with my life and career goals

25% of $750k = $187,500

  • Pay off debt
     
  • Put one year of living expenses in checking account ($30k)
     
  • The rest in emergency savings

25% of $750k = $187,500

  • $187,500 invested in index funds and/or real estate
     
  • Not touching this until retirement

We've used up 50% of the total $750k.

Aight.

$5k for business travel

One thing I forgot to mention in the audio show was the $5,000 I'd spend for traveling.

In the show, I only accounted for $745k instead of $750k.

Whoops, my bad.

That $5k wouldn't be for a nice luxury vacation.

I'd go to LA, New York, Atlanta, or possibly an international trip...

To meet music industry contacts and make beneficial connections.

I'm not getting a new house or car at this point.

$50,000 to upgrade my home studio recordings

Nothing too crazy.

Just good quality gear, mics and products to improve the acoustics.

The final $320,000...

All for Monikker Music content and promo.

  • Content production (could get expensive - outsourcing for videos, photos, social media, other content)
     
  • Merchandise and packaging
     
  • Building funnels and creating new digital/physical offers
     
  • Funding a tour

The rest would go to advertising to promote all of the above.

I should have $100k for the advertising budget.

And that's it...

With enough good content, merch, offers, and a good live show + using my advertising $ intelligently...

The goal would be to turn a profit out of $ spent on the entire second half of the $1 mil:

Business travel, upgrading my studio, and content + offers + promo.

If it takes longer than a year to recoup my investment, I still have over $100k in emergency savings.

This allows me another year or two at least of living expenses.

That's more time to successfully turn enough profit on my asset investments.

What would you do?

How has this post and show made you think differently about it?

Drop a comment below or Tweet me.

Click Here to get a free exclusive 16 bars freestyle from Monikker.

Laidlaw Media Podcast, Episode 2 

A brand new show from Laidlaw Media, headed by Configaration Records CEO and producer, Configa.

This is the second episode.

Click here to go back to the first show.

In #2, Configa begins an artist spotlight series.

The first feature artist is Maddogg McGraw.

Submit your music to Configa if you want to be considered for a future show.

Next, Monikker recapped a few recent and upcoming hip-hop releases:

  • New Black Star!
  • Lil Kim's 9
  • Yelawolf's Ghetto Cowboy after his separation from Shady Records

Last but not least, Monikker talked about a new Eminem autobiography entitled Not Afraid: The Evolution of Eminem.

Michael Carter (aka MC Said) hopped on the mic to finish out the show.

He detailed a riveting re-telling of Eminem's life and career.

MC made some unique points and observations...even re-naming some of Eminem's albums based on new context.

Tweet us your thoughts on the show @configa @laidlawmedia @monikker @101mwc.

Enjoy, and enter your email on the Laidlaw Media website to get new shows and more news. 

Sign up at the bottom of the home page.

Hip-Hop Daily Dose #26: It's Diss Track Season 

Past episodes on this topic: HHDD #14: The Best Diss Tracks of All-Time

Preview a new track I'm on and the story behind it... 

Hear a special invitation for Dart Adams... 

Then head over to Episode 1 to hear the very first show of Configa's Laidlaw Media podcast. 

I have a segment on the show, and together we premiere the new track... 

Produced by Configa and featuring MC Said, Monikker, and DA Donnieboy. 

Click Here to Follow Laidlaw Media on Twitter... 

And sign up for the Laidlaw Media mailing list (scroll to the bottom of www.laidlawmedia.com). 

Tweet us your thoughts:

@monikker 
@configa 
@laidlawmedia 
@101mwc

 

Laidlaw Media Podcast, Ep 1 

The very first show of Laidlaw Media (Configa's marketing and promo channel), has dropped!

Hear from the man himself, Configa, (whom I found out has a very Scottish way to his English tones)...

I also have a segment on the show.

Last but not least, is Michael Carter's fantastic thoughts on battle raps and diss tracks.

Plus, we introduce a brand new song of our own.

I'll leave you with the show below...

Leave a comment!

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Join the Monikker Hip-Hop Community: go to www.monikkermusic.com Home Page and enter your email under "Be Part of the Movement."