My spend less than you earn category is becoming testimony that no matter how much money you make, you can spend it all. A few examples of this come from Nicolas Cage, athletes, Annie Leibovitz, and a bunch of others.
Now you can add the following to the list -- 10 celebrities who are poorer than you:
- Willie Aames
- Kim Basinger
- Anita Bryant
- Gary Coleman
- Corey Haim
- MC Hammer
- Don Johnson
- O.J. Simpson
- Mike Tyson
- Michael Vick
If you like, you can click through and read all the details on each of these, but they all have a very similar story:
1. They made a bundle of money.
2. They spent all they had and/or made terrible financial decisions that wasted their fortunes.
As I say, even if you make a ba-zillion dollars, if you spend a ba-zillion and one dollars, you're going backwards financially. These ten people are surely evidence of this fact.
Great article - well said. And very interesting to compare ourselves with:)!
Posted by: MoneyEnergy | May 01, 2009 at 06:55 PM
I was trying to find the article (I think I read it in the Washington Post a while ago) about George Foreman's comeback. His story is one of an athlete who lost everything, and was forced to make a boxing comeback in middle age when everyone thought it was impossible. He's regained his feet financially, and has talked about how he is careful about his finances and managing his spending.
So it's possible for celebrities and athletes to go the other way, too. :)
Paul
Posted by: My Crossover Point | May 02, 2009 at 06:35 AM
I'm sure that one other event that helped wreck Kim Basigner's financial situation is her divorce - the lawyers I'm sure leeched all they could get and then some like they do to every person who finds themselves in family court.
Posted by: Nic | May 02, 2009 at 07:02 PM
Poor Gary - apparently, he is a security guard now?
My hear goes out to him and any other child star who didn't have the proper guidance.
Too much, too soon ...
Posted by: TStrump | May 02, 2009 at 08:45 PM
party like a rockstar and dont watch your money sounds like the american dream.i dont feel sorry for them,besides reality tv is waiting for them all
Posted by: john | May 02, 2009 at 09:56 PM
" reality tv is waiting for them all"
LOL - unfortunately most of the reality shows expect stars to play for charity. About the only show I know that pays stars real money is Dancing With the Stars. But it's not a earth-shattering amount: http://www.accesshollywood.com/dancing-with-the-stars/what-do-the-stars-get-paid-for-dancing-american-idol_article_16070
Maybe they'll write a book or have a movie based on their life story?
Posted by: kitty | May 02, 2009 at 11:27 PM