BUSINESS

When investing, singer Blake Shelton loves his land
By Mabel Jong • Bankrate.com

It should be a common business saying: "It isn't who you are, it's whose mother you know."

Well, that's how it worked for Blake Shelton.

The country singer had big dreams when he hit Nashville two weeks after graduating from high school. But it wasn't until he met Mae Boren Axton, co-writer of "Heartbreak Hotel" and mother of country music star, Hoyt Axton, that things began happening. Mae Axton got Shelton his first gig: painting her house. That led to an encounter with her famous son, Hoyt Axton who inspired him with "Ol' Red," a song he wrote about a prison guard dog.

Despite his famous mentors, it would be seven years of making ends meet before he began working with legendary writer Bobby Braddock and recording his debut album. Patience paid off. His first single, "Austin," about a recording machine and a second chance at love, spent five weeks at No. 1 on the country charts.

Since the success of "Austin," the Ada, Okla., native has made his debut at the Grand Ole Opry. He's taking his music on the road constantly, most recently with country superstar Toby Keith as part of the "Shock'N Y'all" Tour.

Bankrate: When did you realize you wanted to sing for a living?

Blake Shelton: By the time I was 15, I knew this was what I wanted to do with my life, and by the time I was 17, I hit Nashville. I knew I wanted to be famous, I wanted to be involved in country music. But I didn't know what it was going to be like.

Bankrate: And how has it been? Everything you expected?

Blake Shelton: There's definitely been ups and downs. We were laughing with my record company the other day, every time we think we've got my career under control, and got a good handle on it, there's another hurdle. It's either looking for a tour to get on, or a single doesn't do as well as you think it will, or album sales aren't as good as you thought they would be. And then on the other hand, a single will be No. 1 on the pop charts.

Bankrate: How do you protect yourself financially from the fickleness of the business?

Blake Shelton: The only thing that I've figured out is just keep a good handle on your spending, and knowing that this is only going to last a few years, and you're going to have to treat like these few years are going to have to last you for the rest of my life. Every time we release a single, depending on how well it does, I can kind of gauge how much I can put back. I'm always looking at it like it could be my last.

Bankrate: What do you spend your money on?

Blake Shelton: I'm not really a big spender. The only thing I've really spent on is land.

Bankrate: You think that's a good investment?

Blake Shelton: Why, sure, I figure with my land, that money is protected. I figure that if nothing else, that I'll always get out of it, what I paid for it, and even more. And every chance I get, I add onto it. To me it's just protecting my money. I've worked too hard to be risky.

Bankrate: How else do you go about managing your money?

Blake Shelton: At this point, I've done nothing but put my money in savings. I don't know enough about business and money and investments, to do anything with it, and I don't want to just start doing that . Once I start making decisions, I want to know what I'm doing and to me there's nothing wrong with letting the money sit there even though it may not be growing like it could be, at least it's not going anywhere.

Bankrate: Why do you think you're so cautious?

Blake Shelton: There's countless stories of people who've had hit after hit, after hit and nothing to show for it. I think the biggest mistake you can make is thinking you can make this money every year for the rest of your life. There's no way you're going to be popular for the rest of your life. You've got to know the money you're making now is going to carry you for the rest of your life.

Bankrate: You've got some endorsement deals, did you actively seek those out?

Blake Shelton: I've got a deal with Wrangler, and I like that one because they work as hard for me as we do for them. I won't ever do an endorsement deal just to be associated with a name if they're not going to work hard for me.

Bankrate: Your star's on the rise now, but it's clear that you've thought about your popularity running it's course.

Blake Shelton: Yeah, I think that's going to be about six or seven years. Like I said, You're not going to be cool forever You're not even going to be cool for very long.

Bankrate: But for now, you're just enjoying the ride.

Blake Shelton: It almost feels like I'm doing the impossible. I didn't think I'd become somebody that I idolized when I was 15. Now I'm doing that I've done it, I've done the thing that only a handful of people get to do. I'm hearing my songs on the radio. It really freaks me out.

Mabel Jong is a freelance writer based in Massachusetts.