Why do so many celebrities end up penniless?!
Question: We've all heard the stories of MC Hammer and other celebs, why do people when they have so much money and privilige just squander it away...
Answers: We've all heard the stories of MC Hammer and other celebs, why do people when they have so much money and privilige just squander it away...
They are making tons, so they spend tons, and when their gravy train ends, they still have to maintain that life style, so they go broke.
It is also our faults, we look at celebrities in a different light, so they have to fit the part, not to mention security.
If Brad Pitt and Angolina moved into a nice four bedroom home in the burbs, how much peace and quiet would they really get, he's already had crazed fans break into his house!
MC Hammer was a little different, he spent a bunch of money on his entourage, who were mostly childhood friends. I saw something on him once where he said it was costing him something like $30,000 a day to keep them around him.
They never thought that they'd have that much money, and don't save or invent it wisely.
Bad choices. They don't save money and invest wisely. Also, a lot of times the celebrity doesn't have as much money as we think. They are given clothes and free meals if they go to certain restaurants, etc.
Because they spend all their money. Or they go bankrupt.
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When you have that much money, of course, it clues in to spend it on something luxurious. The sense to burn money faster is much stronger for someone who has that affordability and freedom, compared to say... someone who is on borderline poverty, who is trying to be frugal and live.
And I guess when you are in that limelight, the only way to maintain it is to spend, spend, spend. Money speaks more than they do.
The not-so-bright celebs and child celebs don't have any control of money in their lives. Stardom is a drug. There are people out there wanting to control that part for you.
Because they let fame get to their head and become obnoxious and snobbish , or they spend it on Lavish lifestyles until they become bankkrupt
"If you fail to plan, you can plan to fail"