Los Angeles, CA, Dec. 15, 2020 (GLOBE NEWSWIRE) -- If you ask most kids today what they want to be when they grow up, you're likely to get a few answers that involve being a YouTube star or an online media personality. 20 years ago, this concept would have been inconceivable. Today, it's a regular and major path many young people take.
It's big business, too, to the tune of hundreds of millions of dollars a year in revenue, not to mention billions in advertising. And Savitsky, Satin, & Bacon associate Travis Guterman is ready to lead the next generation of media talent who will need management and guidance.
Because, unlike financial prodigies like Travis, most 18-year-old TikTok stars need help with dealing with more money than most people see in their lifetimes.
Travis explains,
“I am a CPA, but more specifically I'm a business manager for celebrities and professional athletes. I specialize in working with the top YouTubers and Tiktokers, but I have a number of well known writers, directors, and professional athletes. A business manager is essentially a personal CFO for celebrities and athletes. With the help of my team, I handle everything from setting up business entities, taxes, investments, insurance, buying houses/cars, and etc. If it involves a dollar, it involves me.”
He isn’t lying; he’s helped his clients secure over $100M in real estate details. And he’s still in his 20s.
Travis comments on his industry’s new trends:
“The industry is changing because many business managers are retiring. There are very few business managers that are under 50 years old and hardly any that specialize in digital talent like I do. As technology continues to rapidly improve, what we do on a daily basis and how we do it is changing. By implementing new technologies, we're able to provide better financial information to our clients and provide it more frequently so that they can have that information in their fingertips when making business and life decisions.”
Travis’ advice to young celebrities and media talent starting their journeys?
“I would tell them to get in the habit of paying themselves first. In other words, before going out and buying flashy things, first set aside money for taxes and investing. It may seem like this money is going to keep coming forever, but nobody knows how long their career will last in entertainment and sports. Therefore, it's critical that they manage it extremely well so that they are able to have something to show for their work at the end of this journey. I want my clients to be able to accomplish all of their personal and financial goals. The only way they can do that is by getting their financial matters in order first.”
Connect with Travis here.