Why does the crew of the world’s biggest rock band have its own financial literacy programme? Well, life in the music industry is rife with financial instability - workers are often on short-term contracts, missing out on employee benefits such as pension savings and health insurance. A tour can stop at the drop of a hat - when a rockstar breaks their leg, or a pandemic hits - and workers are left without any income.
That's why, when the retirement planning nonprofit, Alliance for Lifetime Income, became the Stones tour's latest sponsor, production manager Dale Skjerseth came up with an idea for helping the younger roadies manage their money better.
This episode is packed with financial tips for budgeting and long-term saving, especially for gig and short-term contract workers. Featuring Stones roadies Nick and Dale, and Alliance for Lifetime Income chief executive Jean Statler.
If you would like to be a future guest on Money Clinic podcast, please email the team via money@ft.com or follow Claer on social media @Claerb.
Check out Claer’s column ‘The mere thought of retirement stresses me out’ https://www.ft.com/content/d44f0e55-5726-47f3-af31-bfc49aae0e16
And her free to read retirement planning guide for readers of all ages - How Covid-19 rebooted retirement: https://www.ft.com/content/2984f010-3496-4859-875d-deb23edcd2baC
If you’re in the US, you can access loads of information about saving for retirement on the website of the Alliance for Lifetime Income - https://www.protectedincome.org/
You can also delve into the Money Clinic back catalogue. Our previous episodes include getting started in investing: https://www.ft.com/content/e035ebf1-a9ff-4057-a1bb-591f2be296e4
Sorting out your pension: https://www.ft.com/content/99d962b7-dd15-4a7c-a3c8-40ba883ea1be
And financial tips for the self employed: https://www.ft.com/content/9889e9c6-1168-4a5d-b5a6-8ab84ea36c92
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