The "Taylor Swift Effect” and Its Financial Lessons for Women
Leisl L. Langevin, CFP®, CDFA®
Senior Vice President & Financial Advisor
Taylor Swift has grown into one of the most successful singer-songwriters of the 21st century, but her success and impact aren’t limited to the music industry. Newsweek has also billed her "an American economic engine." Her recent Eras Tour brought in nearly $6 billion to the U.S. economy, and is now the biggest tour of all time. Time Magazine said of this feat, "If Taylor Swift were an economy, she'd be bigger than 50 countries."
Clearly, beyond her chart-topping music career, Swift has also built herself into a savvy businesswoman and economic force. That journey demonstrates key financial lessons that all women can apply to improve their own financial confidence and empower their success.
Lesson 1: Invest in Yourself First
Early in her career, Swift realized the power of owning her work. After struggles with former record labels, Swift made the bold move to leave Big Machine Records and regain control of her master recordings.
Though the process of re-recording her albums was arduous, Swift invested in herself by putting in the hard work. This decision allowed her to own her creative output moving forward.
Like Swift, women should make themselves the priority when investing. Whether it’s pursuing education, skills training, healthcare, or personal development, investing in yourself builds future potential.
Lesson 2: Leverage Your Value
As Swift’s star rose, she capitalized on her influence to become her own industry. She monetizes her brand through touring, merchandising, endorsements, licensing deals, and real estate.
Rather than staying complacent, Swift identified ways to diversify her income. She forged a vertical integration strategy to control her assets and expand her commercial power.
Women can apply this by assessing their transferrable skills and unique value. Look for opportunities to monetize strengths across multiple income channels, just as Swift does with music, consumer products, and media content.
Lesson 3: Build Your Team Wisely
Swift understands the importance of surrounding herself with the right team. She relies on savvy agents, managers, publicists and attorneys to advise her.
By working with professionals, Swift developed her brand architecture. She benefits from experienced financial planning and protection of her assets.
For women seeking financial independence, a team matters. Work with financial advisors, accountants and legal counsel to create a plan that secures your future. Their expertise helps you invest appropriately and accomplish big goals.
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Lesson 4: Give Back Generously
While accumulating wealth, Swift has become a major philanthropist. She uses her influence and resources to champion causes including disaster relief, education, LGBTQ+ rights, and sexual assault awareness.
Swift’s charitable giving and activism exemplify using your platform for good. Her Songwriter-Artist Protection Act advocacy led to reform in music industry ethics.
Women can make a difference through volunteering, donations, and supporting women-led causes. Give back when you are able.
Lesson 5: Find Your Voice
At every stage, Swift has refused to compromise her voice, whether facing personal struggles or professional obstacles. Her perseverance drove her to success.
Swift uses her music and influence to inspire those finding their own voice. Her openness about overcoming adversity makes her relatable.
Women can emulate Swift’s example by boldly pursuing their dreams, defining success on their own terms, and championing causes they care about. Your voice matters.
A Final Lesson to Take from Taylor Swift’s Impact
Taylor Swift’s determination, business acumen and advocacy have made her a cultural force. By taking ownership of her narrative, she defined what women can achieve with smart investments in themselves. Swift offers inspiration to women seeking financial independence and empowerment. Follow her lead by investing in your potential, building your team, giving back, and embracing your voice.
Our team at Weiss, Hale & Zahansky Strategic Wealth Advisors is experienced in working with women to empower their financial freedom. Contact us for a complimentary consultation on our website or call (860) 928-2341.
Authored by Senior Vice President, Financial Advisor Leisl L. Langevin, CFP® CDFA®. Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. 697 Pomfret Street, Pomfret Center, CT 06259 and 392-A Merrow Road, Tolland, CT 06084, 860.928.2341. http://www.whzwealth.com These materials are general in nature and do not address your specific situation. For your specific investment needs, please discuss your individual circumstances with your financial advisor. Weiss, Hale & Zahansky Strategic Wealth Advisors does not provide tax or legal advice, and nothing in the accompanying pages should be construed as specific tax or legal advice.
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