Not Enough Minerals, Scotty!

Not Enough Minerals, Scotty!

Hip-Hop producer Scott Storch is well known amongst the producers of today. Scott Storch “Scotty” as made a living making instrumentals for artists such as Lil' Wayne, and pop artists such as Britney Spears, Christina Aguilera, and Chris Brown. In a short article at www.tmz.com, Storch is put on blast for owing about $60,000 to creditors. Apparently his net worth was reportedly around $70 million. This is a classic case of financial mismanagement. Unfortunately for “Scotty”, there are not enough minerals!

           

            Obviously Storch doesn't have $70 million in his back pocket. He has been having some issues and in a short article at www.mtv.com it explains how he went broke!  If I could manage to get at least $5 million, I think I'll be set for life. It's clearly possible for businesses to lose lots of money and practically glad business overnight. I don't think that one person in control over that much money specifically would be negligent enough to not manage it properly or have attracted the proper personnel to my handle budgeting and financing. Even if I had $1 million and I lived off of it, only spending about $30,000 a year, they still lived off of it for about 35 years. Coming up on 30 in a few years, considering my nationality, I don't think that I would need much more money after that.

            Based on the research I plan to complete this year, I will have the confidence necessary to move forward with my plans to make such income. Although the annual income of all the businesses combined will be more than enough, I'm sure once they are all operating at optimal capacity, employee wages and operating costs will not allow me to take home the full $1 million annual return. Not even considering that with my IT background I could bring in $70K-$146K, the average audio engineer brings in only about $22K-$70K a year. These 2 professions are not business ventures whatsoever. I'll use the money from working these positions, whether in whole or in part, to fund my future business ventures. What do you think?