Comedian Maria Bamford has an interesting Wealthsimple interview where she talks about making money as a comedian. 

Some commenters on Jezebel broke down her numbers and it looks like she earn ~$312K / yr (after taxes and assuming she performs every week). If she is only performing 3/4ths of a year, she earns ~$234K / yr. And that's just from stand-up shows. This doesn't include all her other income streams (voiceover work, TV shows, etc). Not bad for a comedian.

Contrast Maria Bamford to the entertainers struggling to make a living detailed in Gaby Dunn's very well-written article "Get rich or die vlogging: The sad economics of internet fame." Having thousands of social media followers or subscribers doesn't necessarily translate to big bucks. Unless you have a trust fund or some other source of income, "being popular" doesn't really pay the bills. And if you can't pay the bills, forget about saving or investing.

As I mentioned, I worked in startups before business school and see a lot of similarities between the two industries. There are a few people who really hit it big and cash out. (And Maria Bamford isn't necessarily "cashing out"; she's just doing quite well for an entertainer). The majority don't. I thankfully realized this early on and realized the "slow and steady" approach was much more suited to my temperament. 

The only advice I can offer to people who want to make it as entertainers is to keep your day job. Having a stable day job is great! You get a steady salary, health insurance, 401k benefits, and more! Save and invest your money. Think carefully about how you want to live your life so that you can achieve financial independence early and THEN possibly pursue becoming an entertainer full-time. 

Anyone who knows me personally knows that I look up to Sherry Lansing, previous CEO/President of Paramount Pictures and successful movie producer.

I recently reread this 1995 NY Times article that I had kept bookmarked in my browser for the past few years. It's an article where Sherry discusses her financial situation and her thoughts about money. The biggest surprise for me is how frugal and normal she still is after having such massive career and financial success. I think her attitude is admirable and something we should all keep in mind for our financial futures.

Some tidbits from the article worth repeating:

Even today, having accumulated an ostrich-sized nest egg of tens of millions of dollars from producing hits like "Fatal Attraction," "Black Rain," "Indecent Proposal," "The Accused" and "School Ties," Ms. Lansing is still leery about her financial future. Her film credits may reflect a passion for high-voltage drama, but when it comes to investing, the last thing she wants is a thriller.

She has nothing against investing; she just won't do it unless she knows all about what the money is being invested in, and she believes that is generally impossible. Film she knows. "If I take a risk with a film," she said, "I know every in and out." But outside the movie business, "I don't know enough," she said. "I worked hard for my money. The idea of turning it over to someone else to manage and putting my fate in their hands is inconceivable. I know my business, but I never thought I knew anyone else's business. And I am not a person who likes to abdicate control of my financial interests."

The only exception to her Treasury bills and CD's is a big wad of stock in Viacom Inc., the owner of Paramount, where she has been since 1992. "I want to sleep well at night," she said over breakfast at the St. Regis. Her Hollywood uniform hinted at both her success and her caution: a conservative brown Armani pants suit, with a black turtleneck and high heels. "I have enough money, and I don't want to worry about it."

What made Ms. Lansing such a wary investor? No trial and error was involved. She set her course when she made her first killing in Hollywood, back in 1980, when she was already president of production at 20th Century Fox. When the investor Marvin Davis bought the company in 1981, "We had stock options and he bought everybody out in one fell swoop," Ms. Lansing recalled. She won't say how much she made, but associates put the figure at several million dollars. "I remember thinking, 'What should I do with it?' " Ms. Lansing recalled. Soon afterward, she was at dinner at Elaine's restaurant, a New York favorite for media moguls, with Mo Rothman, a veteran film executive who owned the rights to Charlie Chaplin's film library. Mr. Rothman, a gruff, outspoken man who has known Ms. Lansing for years, told her: "Why don't you pretend you've made half of it, because the rest is what you pass on in taxes. Put it in CD's and you will sleep very well at night, knowing your money is safe." At that time Mr. Davis, who had made a fortune in the oil business, "was putting lots of people into oil deals," Ms. Lansing said. But she ignored such high-flying ideas, instead following the advice of Mr. Rothman and other friends. It was a seminal decision, she said. In a telephone interview from London last week, Mr. Rothman recalled: "She has always been worried about money. She was a girl alone, a single girl. She didn't know if she would be fired or get another deal -- all the preoccupations that women are worried about when they are alone in the world."

During a brief stint as an actress in the soap opera "Loving," she started offering suggestions on the script to Ray Wagner, the producer. That led to a job reading scripts for him for $5 a hour. From there she worked for a talent agency. She moved on to MGM, where she ultimately became president for creative affairs, and to Columbia, where she was senior vice president for production. But even as her salary soared, Ms. Lansing worried. "I had been in the business and I had watched the ups and downs," she said. "I had seen people who were big-salary people. They lived high on the hog, and they did not prepare for the future. And one day it stops for everybody. This is a very tough business, tough and cruel. When I was a reader and story editor, I watched what happened to people. I watched how cruel people were to them when they couldn't get jobs. "I can give you 20 examples of people who did not prepare for the future, and then one day the salary stops, the hit movies stop. They lose everything, including their self-esteem."

For Ms. Lansing, money was freedom. "From the time I started making money at Fox -- I was 35 -- I always wanted to save to have enough so that I didn't have to worry," Ms. Lansing said. "If you ever need a job, you will always do the safe thing because you will be scared. The only way you can perform in a job is if you don't need it. Then you can make pure decisions that are not based on fear."

Friends say that when Ms. Lansing turned 50, she began to believe that she ought to be able to live it up more. After all, she had the money. Because Hollywood is hardly the home of low-key living, she wondered whether she had a problem about spending. She even consulted a psychiatrist about becoming a chic shopper. He asked her what she liked to own and, presumably, was reassured when she told him she liked abstract art -- an expensive choice. He urged her to go out and buy something she liked so they could study her reaction. Ms. Lansing took herself to the Knoedler Gallery in New York. As one friend recalled it, "she zoomed through the gallery, said she wanted a particular painting by Helen Frankenthaler and bought it in 16 seconds. They had probably never seen anything like it." But Ms. Lansing soon discovered that she didn't care much about collecting expensive art. Looking at it in other people's homes was good enough. "All I could think was that the money would be better used if I gave it to charity," she said. Finally the therapist dismissed her. Regardless of whether she was normal by Hollywood standards, he concluded that she was happy nonetheless. To be sure, she does live well. "Don't get me wrong," she said. "I live in a house, not a garret. I'm not a bag lady. I am sitting in a beautiful hotel room. I have a beautiful suit on. Of course I like making money very much. But there is a limit to the things I think are worth buying. There is nothing that I want to buy that I don't have."

Ms. Lansing said she had already had an influence on her husband's (movie director William Friedkin) spending habits, if not his approach to investing. They do have his-and-hers business managers and do not discuss specific investments with each other, but their disparate life styles are coming together. When they married, Mr. Friedkin had five homes: a house in Aspen, an apartment in New York, a house in Big Bear, Calif., one in Los Angeles and a second that he was building.

"I said, 'What do you need an apartment in New York for? That is the stupidest thing. I don't want to live in that apartment that you lived in with your other wives, and I don't want to do it over. Wouldn't you rather have the money? We can stay at the St. Regis or the Peninsula.' "

He bought the life style script. They now own just one house, the one in Beverly Hills, which they bought together. "He was the exact opposite of me," Ms. Lansing explained, but now, she says, he is coming around to her way of thinking. "Billy's attitude toward money is much different from mine. He is an artist. He takes no responsibility. Because he takes no interest in money, he spends it. If you tell him not to spend it, he doesn't."

Who are you and how old are you?

I am a 28 year old currently working as an assistant to the showrunner of a well-cast TV show that will be airing next year.

Tell me about your background.

I grew up on the East Coast and stayed in the area to go to college. Since college, I've worked as an Executive Assistant at various show business companies and as a Production Assistant on both the set and in the office. I've also been an assistant to various movie/TV directors, producers, and writers (some of whom you've definitely heard of).

What does your financial situation look like? If you don’t earn money through a “normal job”, how do you support yourself?

I've been working in the showbiz industry for the last six years. I still haven't gotten my "big break" but have been steadily employed since college. At the moment, I am working as an assistant to the showrunner of a TV show that will be airing next year. Even though I don’t feel like I’m making that much, my costs are paid for during the week - my meals are paid for and I received a rental car that I drive to and from work.

Even though I'm not making huge amounts of money,  I'm lucky in that I have a lot of money saved up. When I had my Bar Mitzvah back in 2000, I received some money which has been since sitting in an investment account and has compounded over time. I don't touch that money. Also, when I was 25, I got some inheritance money from mom’s parents who passed away. During my first two jobs out of college as an executive assistant, I lived at home with my parents but commuted to my job, and so I was able to save up quite a bit of money that way.

By the time I moved out and to the city, I had a considerable amount saved up. During short stretches of time when I wasn't employed, I received unemployment insurance money.

How do you define rich?

This is very subjective to me - rich and poor people define this in different ways. I'd say that it’s when you don't have to worry about everyday things.

Did you grow up with money? How did your childhood conditions about money affect how you behave?

I had a very comfortable upbringing in an upper/middle class family. My dad is a doctor and my mom is a homemaker. My mom previously worked an electrical engineer but stopped working when she had me (and my two siblings) and hasn’t worked since. When I was growing up, my dad worked 6 days a week and it wasn't until I was around 13 that he cut down to only working 5 days/week.

I've never felt poor. We always went on family vacations, and I got toys that I wanted. I really never thought about money but then again, I’ve always been a low-maintenance guy. When I was growing up, I didn't really want anything. You know how when you're young, you come up with huge lists of what you want for your birthday? The older I got, the harder it was for me to think about things because I just didn't want anything.

Did your parents give you money when you were growing up? What about for school?

I got weekly allowance of around $5 - $10 at one point for doing chores. My parents paid my entire college tuition and room/board. I didn't take out any financial aid.

Do you still have school loans?

No

Where did you learn about investing?

I don’t know very much about investing. I defer to my dad and his accountant to deal with this. His accountant just asks me what my risk tolerance level is, and invests money accordingly. My risk tolerance level is very low! I always ask him to put things in low-risk accounts. I am okay with not touching money for many years.

What does your family situation look like?

I am currently single, living in the city.

Do you and your spouse/partner have similar financial habits?

I have been dating someone new for a few months. She and I have very similar financial habits in the sense that she is not a big spender and also very low maintenance. On date night, we are fine staying in watching a Netflix movie and eating takeout. We're certainly not going to fancy steakhouses during the week. The net worth of my girlfriend doesn't matter to me. If I were looking to get married, I would want my wife to have similar financial habits and be in a good financial position.

When/if you have children, will you put money away for their college tuition?

It's not something I've something I’ve thought about. But yes, at the point when I have children, I'd hope that I'd have a more financially stable life and and pay for their entire undergraduate education.

Do you feel like you are living paycheck to paycheck? If so, do you feel that way due to your lifestyle?

No, absolutely not, even though I don't make huge amounts in my job. I don't feel that way simply because I have a lot of money saved up and live way below my means. For example, I could live in a much nicer apartment than I do now and not have roommates, but I really don't mind my current living situation. 

What was your most regrettable purchase?

I can't really think of anything since I don't buy much! It would be really small things like I bought a gift for a girlfriend but we broke up before we could use it together, or I lost my umbrella and then bought another one but then I found that first umbrella, small things like that.

What was your best purchase?

I believe it's better to spend money on experiences than on things. My best "experiential" purchase probably has to be a cruise I went on with my girlfriend a few years ago on the west coast. We justified it by saying that we were already out on the west coast for a wedding and why don't we just go on the cruise since we're already in the area.

Do you feel like you have a financial habit that’s out of the norm (or at least something that others have commented on)?

I spend a lot less than people in my age group even though I have  a lot saved up. I live below my means - I'll always buy a $5 burger than a $15 burger and get mad if I have to pay more for something than necessary.

Do you feel like your success now has anything to do with luck or being in the right place at the right time?

Yes and no. My philosophy is that luck is nothing more than what happens when preparation meets opportunity. One example I can give you of being in the right place at the right time is that once, I was an office Production Assistant for a TA show. I overheard that the director (he is very famous and you've definitely heard of him) was looking for an assistant and I immediately volunteered to do the job. I got it, and ended up working as his assistant. I liked him a lot and it was a great experience.

I’m successful in the sense that I’m working in the industry that I want to be in, but I'm worried that I won’t get to where I want to be because of how competitive this industry is.

Do you actively contribute to a retirement account of any sort?

No, not at the moment. Retirement seems so far away that I haven't given it much thought.

Do you talk to your peers and family about money?

I don’t talk to my peers. I talk to my parents, mainly my dad, since he's the one in charge of money in the household. I don’t really talk to my siblings about money other asking them what they're paying for rent.

Do you worry about money?

I think everyone does, even the richest people. My personal worries are very trivial, such as "How much money should I spend on dinner tonight."

Do you splurge on anything? If so, what was the last splurge and how much was it?

I rarely splurge on anything. My last splurge was a 2-week trip to Europe over the summer. I spent the first week with my siblings and we had a great time - we explored major cities (Oslo, Norway was so expensive!), stayed in hostels, and were very reasonable about our costs. I probably spent around $1000 that first week. During the second week, my parents came out to travel with us and pretty much paid for everything.

Do you have a plan to make more money?

Not explicitly. I really hope that I will continue to move up to better positions and make more money through work.

What would it take for you to feel like you are completely rich?

It’s all relative.  I reading reading that once you make $70,000/year, everything after that is gravy. I would like to make enough at a point where I just don't have to worry about money. And hey, I could always marry into money! That goes both ways. Have you ever seen that Stanley Kubrick movie Barry Lyndon? The main character marries into wealth and takes his wife's last name. He's  a really terrible guy, though, so obviously not someone to look up to.

In terms of money, what was something you did in the past that you could do differently?

I don’t have any regrets - I've always been careful about how I spent my money.

What is your strategy for moving forward now in regards to your big goals in life?

I want to keep working, be proactive in my work, volunteer for assignments that come up, and demonstrate my value as a worker and as a thinker.