Pop the Champagne! February is the start of PLSN and Timeless Communications’ 25th Anniversary, having started with the February 2000 issue of Pro Lights and Staging News, the precursor to today’s PLSN magazine. We head into our anniversary year having just wrapped up the sold-out 22nd annual Parnelli Awards at the NAMM 2024 show and the Timeless Communications ProProduction sessions, which including standing room only attendance at some sessions. NAMM 2024 was a fantastic show for us, and the crowd at the Parnelli Awards had a great time coming together to toast the creativity and hard work of our industry. I look forward to seeing the many creative shows, productions, and innovative personnel we will be celebrating at next year’s Parnelli Awards.
Over the years, PLSN has become a hub for the industry conversations that drive us forward both professionally and personally. It is with that spirit that I am pleased to welcome a new column to PLSN. I would like to introduce you to Rachael Bronstein, the Founder of Life’s Jam. Rachael will be writing a monthly column for PLSN—Life’s Jam—that covers financial wellness for the people in the concert touring and live event industry. Look for this insightful column starting in our March issue. For now, I am going hand over the rest of my Editor’s Note to let her introduce herself and what she plans to cover in her upcoming columns. As ever, if you have a suggestion for a column, story, or other coverage, please feel free to reach out to me at meddy@timelesscom.com.
—Michael S. Eddy
Editor, Projection, Lights & Staging News
Life’s Jam: A New PLSN Column on Financial Wellness by Rachael Bronstein
Do you ever find yourself working so hard at your job that the personal side of life takes a back seat? I get it, and I’m here to help. I’m Rachael Bronstein, Founder of Life’s Jam, and I’m excited to introduce a monthly financial wellness column where “music, money, and life meet.”
Fueled by the unprecedented challenges of the pandemic, I launched Life’s Jam, a company dedicated to empowering music touring professionals to effectively manage both their personal and professional finances. I recognized that artists had business managers, but what about everyone else? With 70% of the industry being freelancers, where was the support for them? I wanted that to change.
How did it all begin? Raised by a single mother (I lost my dad to cancer when I was young), I witnessed her transformation from a teacher to a financial planner. She truly inspired me, and I went on to receive a finance degree from Boston University’s School of Business, ventured into media, and kicked off my career in production finance at NBC. This experience laid the foundation for my deep appreciation of the unsung heroes working behind the scenes. Over time, I found myself working at music festivals, becoming an Accredited Financial Counselor, and feeling a deep empathy for touring professionals who constantly make sacrifices, impacting their wellness.
Life can be tough, and while we can’t control everything, I found it important to focus on what we can influence. Sometimes, it’s a lack of knowledge, and that’s okay. Other times, it’s about figuring out how to take action. I’m here to be your accountability partner, guiding you through the steps to make your financial wellness better.
In the past two years, I’ve had the privilege of speaking at MusiCares, Music Forward Foundation, Country Music Association, Touring Career Workshop, Women in Music, and more. In addition to my music work, I’m the Head Financial Coach for Jean Chatzky’s eLearning programs, FinanceFixx and InvestingFixx, impacting hundreds of women.
Join me each month as we explore the intricacies of financial well-being for those who make the music come to life. From budgeting strategies to understanding credit and navigating taxes for freelancers, we’ll navigate this journey together. Topics will include budgeting with fluctuating income, generating multiple revenue streams, retirement, taxes, and insurance for the self-employed, and more.
Before we get together next time, here’s a quick reminder for anyone who has a Limited Liability Company (LLC) or Corporation. In 2024, there is a new reporting requirement called the Beneficial Ownership Information (BOI) Report. If you formed your company before January 1, 2024, you will have until December 31, 2024 to file this report. However, why not just take care of it now? For anyone who does not file it in a timely manner, there is a $500/day penalty. You can find out more at www.fincen.gov.
I’m excited for this to be a two-way street, so if you have a topic on your mind, shoot me a note at rachael@lifesjam.com. For more information about Life’s Jam and my work, visit www.lifesjam.com.
