Alan J. Cohen, the Senior Vice President of Wealth Management at UBS Financial Services Inc., discusses strategies artists need when looking toward the future, specifically, their retirement. He recommends setting aside money from art sales on an annual basis and placing that into a Defined Benefit Plan or an IRA. Too many artists don’t plan for the future and wish they had, so he advises starting early.
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This excerpt is from a larger art panel discussion entitled “Cold Cash, Creative Capital and Other Money Matters of Interest to Arts Professionals” made available by the Clark Hulings Foundation For Visual Artists and presented in partnership with the Salmagundi Club to deliver art business programming online.