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What I Learned about Money by Playing Drums for the Stones

by Neal Frankle, CFP ®, The article represents the author's opinion. This post may contain affiliate links. Please read our disclosure for more info.

Yes. I actually do play drums for the Stones sometimes.

No. Not the Rolling Stones.

Once in a while I play for one of the best Rolling Stones tribute bands in the United States – the Hollywood Stones. It’s a great hobby and side job, and I learned a lot about money by playing with these blokes.

 

(I’m not in this picture, but this is the band.)

First, a little background. When I started off my career in finance I didn’t stop being a human. I have plenty of other activities. In fact, I’ve been playing drums since I was 12 and I love it.

It’s a big part of who I am, so when I get a chance, I play my heart out. But I never learned the money lessons behind music until about five years ago.

You see, up until then, I played with great musicians but not great people. I am a good player, but no Buddy Rich. So when great musicians were interested in playing with me, I jumped at the chance regardless of what kind of people they were. Even though this was my hobby, I put up with things I should not have. I didn’t learn how to negotiate at all.

But when I played with the Hollywood Stones, I learned invaluable lessons about money and life. After I played with these chaps the first time, I knew I’d never play music the same way again. Here’s what I learned and how you can apply it to your finances.

1. Don’t Waste Time

The Hollywood Stones are a band that sounds, looks and acts like the Rolling Stones. They are 100% entertainers. The audience and the players thoroughly enjoy themselves from the word go. Playing with these boys is about the most fun I’ve ever had.

Once I tasted this, I knew I’d never play with anyone I didn’t have a riot playing with again.

The money lesson:

Don’t stay trapped doing something you don’t love – hobby or job. If you don’t like your situation, do something about it and don’t put up with any crap from anybody. There are plenty of great jobs and opportunities. Either find something you love about what you do and who you do it with, or make a change. If you are miserable, you have nothing to lose if you take a chance and do something different. Life is not a dress rehearsal.

2. Self-Confidence

I do have a lot of self-confidence, but I’m human and I have my doubts like everyone else. I was not as confident in my playing as I should have been. As a result, I put up with people I otherwise would not have. My wife told me for years that nobody does you any favors and she was right – as usual.

The money lesson:

If you have a boss, she isn’t doing you a favor by giving you a job. You earn your keep every day. Feel confident and express your feelings, concerns and thoughts. Of course you shouldn’t go overboard and think you’re doing someone else a favor by working for them. But remember that people do business with others because they expect a benefit. Always think of yourself as being self-employed. If someone continues to do business with you, it’s because they benefit. Don’t ever doubt your self-worth.

3. Faith

For the longest time, I put up with playing music with the same group of people that I didn’t especially enjoy being around because I thought there was nothing better out there. I heard the Hollywood Stones play and never imagined I’d be able to play with them. But here we are, and I play with them now whenever their permanent drummer is unavailable. For me, this is a dream come true.

The Money Lesson:

Allow yourself to dream big. Music for me is a hobby – not a profession. So when I quit the other band with no real alternative, I wasn’t jeopardizing my family’s financial security. But just because you have bills to pay doesn’t mean you can’t dream and take action.

If you are wondering which job is right for you, take action and look into alternatives. Don’t ever stay stuck. I believe you can do anything you want to do if you are willing to do the work. Have faith. Take action. Make it happen. Oh…and rock on!

 

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Comments

  1. B Kelly says

    May 25, 2011 at 5:03 AM

    Spot On! It took me years to realize that hanging on to someone or something that does not vibrate with my inner soul is an absolute waste of time.. Took a great a deal of courage to step away but once it was done, there was no looking back…

    Reply
  2. Matt Jabs says

    May 24, 2011 at 10:19 AM

    Great advice Neal… to be successful we must be confident in and stick to our standards, and surround ourselves with people who lift us up. That’s why I hang around you! 🙂

    Reply
    • Neal Frankle says

      May 24, 2011 at 11:12 AM

      I would say the exact same thing Mr Man!

      Reply
  3. optionsdude says

    May 24, 2011 at 1:51 AM

    Great advice. I especially love the point about doing what you love. There is no point in going through life in a dead-end job or a miserable situation. Granted you may have to put food on the table for a short time, but as you say, there are many opportunities out there for someone who is willing to look.

    Reply

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Who is Neal Frankle

Neal Frankle

I'm a CERTIFIED FINANCIAL PLANNER™ Professional with more than 25 years of experience. I feel very blessed and hope to share my personal financial experience and professional wisdom with readers of WealthPilgrim.
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Retirement financial education for people age 55+ seeking to retire well and for those retired seeking to enjoy a better retirement. We discuss retirement planning, retirement investments, taxes in retirement, retirement spending, IRA and 401k distributions and we will personally answer questions that you pose in the video comments.

While so much financial information is about preparing for retirement, what about managing your finances in your retirement years? That's exactly what we cover at Retirement Crusaders.

Neal Frankle is a retired registered investment adviser. Larry Klein is a retired financial advisor and retired CPA. They have 70 years of financial advising experience to share so that you have your best retirement years.

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Retirement financial education for people age 55+ seeking to retire well and for those retired seeking to enjoy a better retirement.  We discuss retirement planning, retirement investments, taxes in retirement, retirement spending, IRA and 401k distributions and we will personally answer questions that you pose in the video comments.

While so much financial information is about preparing for retirement, what about managing your finances in your retirement years? That's exactly what we cover at Retirement Crusaders.

Neal Frankle is a retired registered investment adviser. Larry Klein is a retired financial advisor and retired CPA. They have 70 years of financial advising experience to share so that you have your best retirement years.

Retirement financial education for people age 55+ seeking to retire well and for those retired seeking to enjoy a better retirement. We discuss retirement planning, retirement investments, taxes in retirement, retirement spending, IRA and 401k distributions and we will personally answer questions that you pose in the video comments.

While so much financial information is about preparing for retirement, what about managing your finances in your retirement years? That's exactly what we cover at Retirement Crusaders.

Neal Frankle is a retired registered investment adviser. Larry Klein is a retired financial advisor and retired CPA. They have 70 years of financial advising experience to share so that you have your best retirement years.

YouTube Video UCoU0buhwVplzXrsyf342nOg

Retirement Crusaders

June 10, 2022 1:19 PM

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