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Category - Making Money

Investing 101 for Cam Models

Investing your webcam money

The first rule of investing: you’re never too young to invest. Investing can seem awfully intimidating with all that financial jargon but once you break it down it’s pretty simple to understand.
Most cam girls invest to make a little money on the side, or bulk up their savings for retirement, or to beat inflation. If you’re already setting aside money in a savings account you’re ahead of the game, but unfortunately, that money is just sitting there earning less than 1% when it could be making you more money.

The first thing you should look into is investing your retirement savings. This is more than just naming your saving account “retirement funds”; you need to put your money into a retirement fund like a 401(k) or an IRA. There are three main types of IRAs: Traditional, Roth, and Rollover. Each has its own advantage.

In a traditional IRA you make contributions to your account with money you might be able to deduct on your tax return. Potentially your earnings can grow tax-deferred until you withdraw them for retirement. A lot of retirees find themselves in a lower tax bracket than they were while they were working so the tax-deferral means your money might be taxed at a lower rate.

With a Roth IRA you make contributions with money you’ve already paid taxes on. If you meet certain conditions (your bank will be able to go into detail about the conditions you need to meet) you could have tax-free withdrawals in retirement.

Finally a Rollover IRA is a Traditional IRA intended for money that has rolled over from a retirement plan. This means you would take money from an employer-sponsored plan such as a 401(k) or a 403(b) and move it into an IRA.

So why would you need an IRA? For starters your savings have the potential to grow or compound faster than they would in a taxable account. Even if you have a 401(k) from an employer you will still need up to 85% of your pre-retirement income in retirement and that 401(k) may not cut it.

An IRA will help you supplement your current savings, take advantage of tax-deferred or tax-free growth, and help you gain access to a wider range of investment choices.

If you use your IRA to dabble in investments that are out of the mainstream (meaning you go off the beaten path from the typical offerings of banks and mutual funds) you’re going to want to do some serious research beforehand. For example, some people buy coins with their IRA. Lots of people buy gold and silver coins because they’ve been measurements of value for thousands of years.
Coins tend to be stable when stock markets crash or inflation soars but that’s not to say the price of gold and silver doesn’t fluctuate, because they do. A lot of mainstream IRA custodians such as banks and mutual funds don’t offer coins as an IRA option. IRS regulations require storage be overseen by a custodian but custodians don’t have to offer this service. The same holds true for precious metal bullions like gold or silver bars. IRAs allow for metals such as gold, silver, palladium, and platinum to be purchased with an IRA but many financial advisors say it doesn’t
perform over time and probably isn’t worth the hassle of getting it appraised and valued every year.

If you’re a first time investor your safest bet is to invest in mutual funds. Professional investors collect groups of securities and you can invest in these funds without picking every individual stock or bond yourself. This lets you diversify your portfolio without worrying about which stock to pick. Which leads us to the most important rule of investing: diversify. You never want to put all your eggs in one basket. That’s the quickest way to lead to financial disaster. Always diversify your investments because you never know what stocks will fall and what stocks will rise.

Try not to jump on the stock of the moment, otherwise known as hot stocks. There’s always a stock that’s generating buzz but it’s better to research the company that’s being buzzed about than to jump on the stock of the moment and buy a ton of it. If you do play the stock game don’t let the morning news dictate whether you should buy or sell. Active investing (buying and selling stocks strategically and frequently) doesn’t work for most people and it’s not always a sound investment.

Don’t get wrapped up in a stock for sentimental purposes. If a stock performed well in its past performances but the security is falling, you have to be willing to let go. Securities are only as a good as how they’re currently performing, so be prepared to let go of a stock that may have been good for awhile but has turned bad. It’s also bad to get caught up in checking the stock ticker all day as markets and stocks go up and down every day. And never invest money you need fast access to. Experts suggest you should never invest money you’ll need within five years because if the market goes down you won’t recoup those costs.

Securities, IRAs, and investing can be overwhelming and risky so it’s always best to consult a professional. There are tons of great resources out there that will help you invest your money wisely. If you want to learn more about investing contact a financial planner or a wealth adviser or even an automated online investing platform.

Profiting from your Instagram by selling plugs or products

The most successful cam girls know that in order to make serious money they can’t just rely on camming to support them. The top earners in the cam world spread their talent throughout all kinds of social media platforms increasing their following and their cash flow.

Social media sites like Twitter, Snapchat and Instagram are free and easy platforms to increase the amount of eyes on your personal brand (more on that here). Why does having a social media presence matter? Think about it from a fan’s point of view. They log on and want to watch your cam show but you’re not there. If your profile links your fan to your social media network they can look at you, engage with you, and feel like you’re with them even if you’re not live at the moment.

Instead of going to another model’s page they are now engaging with you which gives you a chance to engage back, increasing the likelihood of that fan watching your show and tipping you at a later date because the fan feels like they made a connection. The same logic applies to would-be fans. They see you interacting with people like them on social media and think they could have a chance to interact with you on a personal basis using social media. Now you’ve got two engaged fans willing to spend money and time on you. Once you reach a solid amount of fans on your social media sites you will also start being approached by brands that will want you to become a brand ambassador. As a brand ambassador you can either receive free merchandise (such as jewelry, lingerie, or swimwear) and post about the brand to your followers, or you can become an affiliate of the brand and make a commission from each sale. As an affiliate you’ll receive a special code, place it in your social media bio and each sale will be tracked through that code.

Once you’ve developed a following of 5,000 fans you can begin to reach out to companies that you want to work with. Don’t be shy about contacting companies that you think are on brand for you and vice versa. For example: do you wear a certain brand of lingerie? Post a photo of yourself wearing their brand and tag them in the photo and mention them in the caption. Any good brand will like the photo or comment, which opens up the door for you to direct message them about working together.

If that’s not your style then privately email them and ask about their brand ambassador program or find out how you can work with them. You can work with more than one brand at once so be sure to send out plenty of messages. Making money on social media is all about making connections and developing relationships with other brands. If you’re wearing a brand’s clothing and they have 100+k followers and they repost you you’re going to gain a lot of followers, which could turn into fans with tokens. Instagram isn’t a fast way to make money but if you do it right and build a good reputation the brands will come knocking down your door.

A lot of cam girls set their Twitter and Snapchat accounts to private and only allow paying customers to access their profiles. It’s a smart move because you can send virtually any kind of adult content on those platforms as long as you’re over 18 years of age. Instagram doesn’t allow nudity or adult content but you can get away with modeling lingerie or posting suggestive photos. Lots of cam models use Instagram as their main branding platform because it’s 100% visual and easy to use as long as you have a cellphone. You can post photos, use relevant hash tags, and build an audience very quickly. The key to running a successful Instagram account is to be consistent and engage with your followers whether it’s two followers or 200,000 followers. This article goes into more detail about the do’s and don’ts of Instagram.

It may seem overwhelming to try to build a strong social media presence but it’s easier than you think. During your show let your fans know you’re now on Twitter, Snapchat, Instagram, etc. and tell them to follow you. You can even offer to follow back the first hundred followers. Don’t feel bad about promoting your social media accounts on your cam profile because the people in the room are there to see you and are going to be more than happy to watch you on all your social platforms. Making money on social media can be easy and totally enjoyable. The key is to be
persistent, engage with fans, and soon enough you could be one of those Instagram girls making over $100,000 a year in sponsorships and ad placements. Remember, even those girls started with 0 followers.