My Parents Are Trying to Seize Control of My Money! conversation reopened

[ironpony]

Basically I want to get into a career as a film director, and have decided to make my own feature film after saving up a lot of money. But people think I am crazy for wanting to do this, and everyone is telling me absolutely not to.

But now since then, and now that I am closer to getting the ball rolling, the pressure for me to quit is so much higher, and I feel like everyone is just at my legs trying to pull me away. Even my parents think it's a huge mistake and waste of so much money as the movie will never sell. They think I have gone insane, and are trying to seize control of my savings, cause I am mentally unfit.

I understand they care and they mean well, but what can I do to get them to be more supportive. If I lose it all, then I am back to square one, but what can I do to make them see that it may be a necessary risk?

Edited February 22, 2022 by a LoveShack.org Moderator
added 2022 update

[elaine567]

We all hear about the guy who made it through adversity and produced a masterpiece to the shock of all the naysayers, but we rarely hear about all the other guys who bankrupted themselves into poverty by following impossible dreams.
You have made small films before on Youtube, how successful were they? How many views?
Do you have a real talent for this?
Do you have any backing and support from those who know the industry?
Has your talent been recognised?

Trouble is every man and his dog can make a "film" nowadays and present it to the world via social media, what makes you stand out?

[d0nnivain]

Unless they have hired a lawyer to have you formally declared incompetent, nobody can "seize" control of your money.  Incompetent is a very low threshold.  As long as you know who you are, where you are & when you are, you are competent.  I'm me; it's now & I'm here qualify.  You don't even have to be able to say I'm ironpony, we're in Canada & today is Wednesday but that will help.  Once you are competent you are legally allowed to make bad / foolhardy decisions. 

 

The harsh reality is that your dream is incredibly risky.  You are ill prepared to take on this challenge because unless something has drastically changed you don't even have a business plan yet for this.  You continue to fly by the seat of your pants following your dream, hoping that you will defy the odds & be that rags to riches story that will make you the subject of a biopic in the future.   You'd have more success taking your life savings & betting it all on a horse or on a # at the roulette wheel. 

 

Your refusal or inability to plan almost guarantees you will fail.  That maxim applies to every business venture not just the speculative ones like movie making. 

 

You have been repeatedly encouraged on here to make some concrete plans -- taking a film making class, getting a low level job on any production, writing a budget -- before you undertake this risky endeavor but you go plodding along, blissful in your ignorance & happily content to dream.  Of course that makes your parents worried.  You are doing nothing to guard against the downside.  

 

If you want them & everybody else to get off your back, start acting like you understand that making a movie is a BUSINESS.  When you do that people will take you more seriously & should stop acting like you have lost your mind.     

[basil67]

I read recently that you’re suffering insomnia due to the costs you’re paying for this movie.   Who are you paying and what are they doing?

 

[schlumpy]

It's easy to get them on board - be successful. Show them the money. It's very difficult to argue about that.

[ironpony]

The youtube videos haven't been successful with many views so far.  My latest short film is currently being entered into some festivals, so we can see how that turns out.  I did take filmmaking classes before.  But ultimately in the end, I still have to take a risk on a project, if I want to get noticed it seems.

 

I was advised that I should bring the budget down to 20K, or less, since some features have been shot for less and still found success, in the end.  But it's really difficult to shoot for that little I find.  Perhaps I should hire a budgeting person that can figure this out for me, how to shoot for that much less, if possible.

[ironpony]

And yeah, I didn't think they could successfully freeze the money, it's just the drama I have to go through over it is frustrating.

[preraph]

To declare you incompetent, they have to trot you before a judge.  As long as you can tell the judge your name, age, what date it is and know your whereabouts, that's pretty much the threshold for being competent!  

[Els]

How exactly do your parents "seize control of your savings" if they are in a bank account and you are not a minor? It's literally impossible.

[RecentChange]

They might not be able to seize your savings..... But they could stop supporting and enabling you.

 

You live with your parents don't you? Do you pay market rent? What about your other expenses, do you cover all of your living costs?

 

I am going to to be harsh Iron Pony a say I understand where they are coming from. Your posts have shown a pattern of ignorance of how real world money matters work.

 

You do not have a solid business plan nor path to make this pie in the sky dream a reality.

 

Not too long ago you thought it was plausible to move to another city and immediately start earning over 6 figures selling for a multi level marketing scheme.

 

Put a business plan together. Put the numbers on paper and show you can turn this dream into a reality - get investors etc if you really has a shot.

[elaine567]

Do you have your own bank accounts?
Do your parents control your money?

[ironpony]

Oh I just asked about moving to another city, cause another filmmaker I went to school with did it, and got that job where she earned so much more as a result.

 

I was told investors normally do not invest in newcomer filmmakers but I can still try.  As for my parents, yes I pay rent.  It's just drama I have to deal with.  They talked me before into puting my money into GICs cause you earn more that way, but they left out the fact that money will be frozen for a year now.  That's only have my money, so I can still use the other half, just have to figure out how to keep the budget lower now.

[RecentChange]

Have you lived away from home before?

 

When do you plan to start filming your movie?

 

Is the screen play drafted etc?

 

As for investors - you're right, they invest in things that have a good potential to earn money. Show you have something that will be successful and you can gain the interest of investors.

 

What is your back up plan if movie producer doesn't pan out? What other things are you doing to develop a career that will sustain you?

[ironpony]

I haven't lived away from home before.  I wanted to move out quite a few times, but they kept telling me to stay with them to pay less rent and save my money.

 

I wanted to start next summer but have been having trouble finding enough people but I will keep looking.

 

Yes the script is finished.  Some people pointed out some problems so I am making some changes to hopefully make it better to attract more people.

 

As for back up plans, I do like editing and sound recording for movies, so perhaps I could do something in those fields hopefully.

[clia]

Your parents are concerned because you have no plan or experience and they are afraid you are going to blow through your money.

 

Right now, you don't have the budget to hire a budget person.  And with no track record or experience, you are going to struggle to find investors unless they are people who you already know who believe in you.  As has been pointed out in this thread and your other threads, you need a plan, a timeline, and a budget.  You need to be brainstorming ways to make your movie for less.  Research how other new filmmakers have done it.  

 

Have you worked on a professional film before?  Maybe that's a place to start before you go all in on your own.  Get a job on a film crew (in Vancouver or wherever) and watch and learn.  

Edited December 12, 2019 by clia

[schlumpy]

How about doing youtube music videos for local and upcoming musicians? The script would be much easier, no special effects to worry about and they supply the material.  

[NuevoYorko]

Have you found a job?  I hope so.  Being a parent, I would probably be inclined to seize control of your savings if you were my kid.  That said, it's legally not so easy.  Anyway,  regardless of what your parents are talking about, your first step is to see to your own financial independence.  

 

I have never heard of a successful feature film with general release being made for anything like $20k.  Well back in the early 70s there was "Deep Throat" for $25k but that's in a different category and a completely different economy.   Famously cheap box office success "The Blair Witch Project" cost $60k to produce. 

 

[alphamale]

ironpony, your chances of making a successful feature film are close to zero.  Hollywood can spend hundreds of millions of dollars on a feature film and it will flop and lose money.  Listen to your parents, they know a lot more than you.

 

My little brother is trying to do the same thing.  He has made 4 or 5 feature films and none of them have made money even though he went to one of the premier film schools in the country.

[ironpony]

Oh okay, it's just I don't know how else to break into the business otherwise, than doing it on my own.  Is there another way to work towards such a career goal that is better?

Plus I was told before on here, in past threads that I should go for it, cause if I don't, I will keep on regretting it.

Edited December 12, 2019 by ironpony

[RecentChange]

There is a saying 

 

"Proper preparation prevents piss poor performance"

 

You haven't laid any of the ground works for this dream of yours. At mid 30's you should have had a least a decade of foundation in place - working in the film industry, making connections, gaining experience, proving your worth.

 

I know someone who makes a good living directing - commercials (he does short films for fun).

 

He got started in the industry as a grunt at 18 years old, went to college, got a degree in visual arts while living and working in Hollywood eating ramen the whole time.

 

With a combination of talent, grit and charisma he now, decades later has a good career. He is a lucky one.

 

The odds of you making a living that pays the bills while working as a feature film director are a bit less than being hit by lightning.

 

Sure - you may have some regrets, but honestly the regret should be you didn't get on the right path to make this dream a reality a decade and a half ago.

Edited December 12, 2019 by RecentChange

[ironpony]

I don't think it's less than being hit by lightning though.  I don't know anyone who has been hit by lighting, but one filmmaker I worked under, has made a feature film that found distribution.  So I feel that even though unlikely, it is possible, and more possible than being hit by lighting, since I have worked for one that has, compared to not knowing anyone who has claimed to be hit by lighting.

 

But I have taken film school courses, and worked under other filmmakers though, here and there, over the years, so I thought I did have prior experience.  It just seems that eventually if you want to get somewhere, I have to go for it, unless there is another way to get in?

[basil67]

2 hours ago, ironpony said:

Oh okay, it's just I don't know how else to break into the business otherwise, than doing it on my own.  Is there another way to work towards such a career goal that is better?

Plus I was told before on here, in past threads that I should go for it, cause if I don't, I will keep on regretting it.

 

You break into a business by doing what people have done since time began - you start at the bottom.  Get a foot in the door as an assistant assistant something or other and work your way up.   You say that you did a film making course previously.  What tangible skills did you walk away with?    

 

Regarding following the advice you're given, I was once told that I should set up a small business selling a particular thing I could make.  Yep, that crashed and burned.   It doesn't matter how many people tell you that you should do something, the decision must be made with good sense and be backed up with solid planning, mentoring and research.    Going into it because random, well meaning strangers on the internet told you you'd regret it if you didn't is not a good reason to move ahead with this.

[ironpony]

Well I took a directing course so I learned mostly directing skills.  On sets, I started out doing whatever duties they wanted, like unpacking things, packing them, as a production assistant things like that.  From there I moved on to being a boom operator and doing more sound related dutuies.

 

But even though I start out at the bottom, so far I worked mostly for other filmmakers that are doing it on their own like me.  They don't just promote you up the ranks from sound department, up to director.  Eventually you have to still produce and direct your own feature, don't you?  Cause you don't just get promoted from a lower position in this business of independent film productions.

Edited December 12, 2019 by ironpony

[basil67]

No, they may not promote you, but just as you've moved up from unpacking to sound, you have to keep working up.   It would be foolish to make such a huge jump - it's like trying to move direct  from customer service to company CEO.   What about trying to get work assisting a director?  Or as a co-producer?   

[ironpony]

Oh okay, but I cannot find a way to get out of audio without doing it myself, on my own project.  I feel like I am stuck there unless I do it myself.  Where is there to move up to next, that other filmmakers will allow me to, since they only seem to want me for either audio, or PA related duties?

As for working as an AD or a co-producer, I have a lot less experience in those jobs compared to directing and those jobs would take more to learn than directing, since I already tried familiarizing myself with directing as much as I could.  So I feel I would do worse in those positions.

 

It's like for an example, a hospital adminstrator is a hire rank that say, heart surgeon, but it would be more difficult for someone who has made it his goal to be the best adminstrator, to be a heart surgeon first, if he did not study it at all, compared to administration.  If that comparison makes sense.

I could try AD, it's just that there is one person where I live who gets all the AD jobs and he is the go to person for it.  So it's hard to get in as an AD when he is always the go to person it seems, so far.  As for co-producer, well that would mean I would have to put money into another project, if I am producing, is that right?  I would like to save my money for my own though.  I was also told by other filmmakers not to produce a project until I have directed more of my own first, cause a producer really should direct first, before producing, and leaving the directing in the hands of someone else, if they are right there.

Edited December 12, 2019 by ironpony