Living and working in Malibu offers a unique lifestyle—one filled with creativity, opportunity, and at times, unpredictability. Whether you are an actor landing roles in Hollywood, an artist showcasing your work, or a social media influencer building your brand, your financial life likely doesn’t follow the steady paycheck model that traditional professionals rely on.

As David D. Kassir, Senior Financial Advisor at Manna Wealth Management, I work with creative professionals across California to help them bring stability and growth to their finances. Let’s look at some of the most important financial planning steps for Malibu’s artists, entertainers, and influencers.

1. Managing Irregular Income

Actors, artists, and influencers often deal with uneven cash flow—big checks when a project hits, followed by slower periods. This makes budgeting and saving even more important.

• Create a baseline budget: Cover essentials like rent, food, insurance, and taxes first.
• Build a buffer fund: Aim for 6–12 months of expenses set aside to get through leaner months.
• Pay yourself a salary: Even if income comes in waves, set up a system where you pay yourself a consistent monthly amount.

Example: An actor in Malibu might get a $50,000 paycheck after a commercial shoot. Instead of spending it quickly, they could spread it across a year, treating it as steady income.

2. Tax Planning for Creative Work

California and federal taxes can be complicated for creative professionals because of multiple income sources—royalties, sponsorships, commissions, or contract work.

• Track deductions: Home office expenses, studio supplies, travel for gigs, and marketing costs can all lower taxable income.
• Set aside for taxes: Consider putting 25–30% of every payment into a separate account to cover quarterly tax bills.
• Hire a tax advisor: Having someone who understands creative industries ensures you don’t miss valuable deductions.

3. Retirement Planning Without a 9–5 Job

Without an employer-sponsored 401(k), many creatives feel behind on retirement savings. The truth is, you have excellent options:

• SEP IRA: Perfect for self-employed professionals with variable income.
• Solo 401(k): Allows higher contribution limits, plus the ability to contribute both as employer and employee.
• Roth IRA: Great for younger influencers or artists who expect their income to grow over time.

Example: A Malibu influencer earning $150,000 could contribute to a Solo 401(k), reducing taxable income while building long-term wealth.

4. Protecting Your Brand and Income

Your creativity is your career, so protecting it is part of financial planning.

• Insurance matters: Disability insurance protects income if illness or injury keeps you from working. Liability insurance may protect influencers from business-related claims.
• Business structures: Setting up an LLC or S-Corp may offer tax benefits and legal protection.
• Intellectual property planning: Artists and content creators should ensure their work is legally protected.

5. Investing for Growth and Stability

Creative professionals often want both financial security and the ability to invest in future projects. Balancing risk and reward is key.

• Diversify investments: A mix of stocks, bonds, and possibly real estate can balance income swings.
• Keep short-term cash accessible: Emergency funds and upcoming expenses shouldn’t be tied up in volatile investments.
• Think long-term: Even during high-earning years, allocate money for retirement and future financial independence.

6. Estate Planning for Creative Assets

Malibu families and individuals with creative careers should also think about what happens to intellectual property, royalties, and other assets.

• Wills and trusts: Ensure assets go where you want them to.
• Plan for ongoing royalties: Set up systems so heirs can continue to benefit from creative work.
• Charitable giving: Many artists choose to leave a legacy by supporting causes that matter to them.

Working With a Financial Advisor Who Understands Creatives

Financial planning for creative professionals isn’t one-size-fits-all. Actors, artists, and influencers in Malibu need flexible, tax-smart, and forward-looking strategies that reflect the unique nature of their income and careers.

At Manna Wealth Management, I partner with creative professionals to bring structure to uncertain income, minimize taxes, and build wealth for the future. You can learn more about my background and approach in my advisor profile.

Final Thoughts

If you’re a creative professional in Malibu, financial planning is about more than just investing—it’s about building a foundation that allows your talent and career to flourish without constant financial stress. With the right strategies, you can enjoy today’s opportunities while also preparing for tomorrow’s challenges.