My first album after 'American Idol' I did with Desmond - we paid for it together, and we literally were together working on it every day for a year and half, just writing. We wrote in New York, Nashville, L.A., Sweden - we wrote with some other amazing songwriters like Diane Warren, too.
In my 20s, I was a freelance writer with little money and living in a rabbit warren one-and-a-half-bedroom with a roommate.
The bottom line is this: Cash, in modest increments, has a role in any portfolio. But unless you are Warren Buffett, you should limit it to 2 or 3 percent.
Every single director-actor I talked to, from Warren Beatty to Clint Eastwood to George Clooney, said the biggest mistake they made is not shooting enough footage of themselves.
Trying to pick individual stocks is a trap. I can't do it. Warren Buffett can, but hardly anyone else can beat the indexes over a long period of time.
Much like Warren Buffett has said very famously - he doesn't buy technology stocks because he doesn't understand them- I will not buy consumer goods companies because I do not understand them.
Look at this generation, with all of its electronic devices and multitasking. I will confidently predict less success than Warren, who just focused on reading.
I'm so tired of talking about Warren Buffett.