Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Britney Spears would benefit from this forum
Old 11-02-2007, 10:09 AM   #1
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Britney Spears would benefit from this forum

Britney spends big, court papers reveal - Yahoo! News

Britney spends big, court papers reveal
Fri Nov 2, 1:06 AM ET


LOS ANGELES - The pop princess is a big spender.

Court papers released Thursday in Britney Spears' custody dispute with Kevin Federline show she spends lavishly on clothes and entertainment, and doesn't save or invest any of her roughly $737,000 monthly income.

Spears' monthly expenses include $49,267 in mortgage for two houses, $16,000 for clothes and $102,000 on entertainment, gifts and vacation, according to her financial declaration.

Although she's often photographed eating fast food, Spears declares she spends about $4,758 per month dining out. Meanwhile, she spends zero on education, savings and investments and gives $500 a month in charitable contributions, the documents said.

She has to pay her ex-husband $15,000 per month in child support and $20,000 in spousal support. Spousal support will end Nov. 15.
As for Federline, his biggest monthly expenses include $7,500 in rent and $6,000 in security, according to his financial declaration.

The dancer-turned-rapper has a comparably modest monthly budget for clothes — just $2,000. He also spends about $5,000 on entertainment, gifts and vacation, and $1,500 eating out.

Federline earned more than a half-million dollars in 2006, mainly from entertainment and endorsement deals, but after business expenses only grossed $7,436 that year. He receives $15,000 per month in child support.
__________________

__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-02-2007, 10:46 AM   #2
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,619
This could be a great beginning to an E-R.org series of "Celebrity ER" threads, where we solve the ER planning of the world's celebrities for free. But I'm not sure there's a "problem" here.

I don't know if this article reflects her total spending, but adding up the numbers gives roughly $188K/month or $2.25M/year.

I'm pretty confident that her net worth is over $56M, so even without the royalty income she'd be spending less than 4%. Of course she ER'd pretty young, so 3% might be more prudent-- $75M doesn't seem to be too much of a stretch for her accountant to tally up.

While her health insurance premiums might rise a bit, I don't see her keeping up that spending pace for the rest of her life...

She seems to be paying more in Medicare taxes than most people ever gross in income.
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 11-02-2007, 10:50 AM   #3
Recycles dryer sheets
 
Join Date: Jan 2007
Posts: 284
Her charitable contributions are rather pathetic, considering she has set up a foundation. $500 a month? Embarassing
__________________
A854321 is offline   Reply With Quote
Old 11-02-2007, 10:59 AM   #4
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Quote:
Originally Posted by retire@40 View Post
...Federline earned more than a half-million dollars in 2006, mainly from entertainment and endorsement deals, but after business expenses only grossed $7,436 that year...
I think the article meant "netted" not "grossed."

This screams AUDIT in big red letters surrounded by red flags and fingers pointing.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Old 11-02-2007, 11:02 AM   #5
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 463
Nords beat me to it.

Don't remember where I read it (so could be wrong), but her net worth was estimated to be 100 million.

3% SWR due to young age

25% overall tax rate (probably too high)

Throws off 2.25 million after taxes

= $6,160 per day that she can spend.

Now, if she'd only drop out of the glamorous life, get her head together, and be a reasonably good mother to her children...
__________________
TickTock is offline   Reply With Quote
Old 11-02-2007, 11:38 AM   #6
Thinks s/he gets paid by the post
bright eyed's Avatar
 
Join Date: Jan 2007
Posts: 1,891
Quote:
Originally Posted by Nords View Post
I don't see her keeping up that spending pace for the rest of her life...
Oh Nords, you underestimate her greatly!

Michael Jackson has the same problem, and after he stopped generating the massive income, he had to borrow from sketchy people to keep up his habits...
__________________
If i think of something clever to say, i'll put it here...
bright eyed is offline   Reply With Quote
Old 11-02-2007, 12:22 PM   #7
Recycles dryer sheets
 
Join Date: Jan 2007
Posts: 207
Britney Spears would benefit from this forum

Britney Spears would benefit from a swift kick in the a$$ and then about two weeks at the Paris Hilton finishing school.
__________________
Can eat with either hand.
Joss is offline   Reply With Quote
Old 11-02-2007, 01:17 PM   #8
Thinks s/he gets paid by the post
saluki9's Avatar
 
Join Date: Feb 2005
Posts: 2,032
Her handlers wouldn't be letting her spend $50K/month in mortgage payments unless she had a ton of cash to back it up.

I also don't buy her travel figures. She was at the hotel next to me in Maui when my wife and I were married. She came to the island on a GV ($4K+ per hour) and rented several suites at the Four seasons Maui . I wouldn't guess she has scaled that back.
__________________
saluki9 is offline   Reply With Quote
Old 11-02-2007, 01:28 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
"$16,000 for clothes" That is obviously wrong. It seems like every other week some photographer is snapping her sans undergarments. And when she's on stage or on camera, she's hardly ever wearing many clothes. How could she possibly spend $16,000/month on clothes?
__________________
justin is offline   Reply With Quote
Old 11-02-2007, 02:06 PM   #10
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,972
Quote:
Originally Posted by Nords View Post
I'm pretty confident that her net worth is over $56M, so even without the royalty income she'd be spending less than 4%. Of course she ER'd pretty young, so 3% might be more prudent-- $75M doesn't seem to be too much of a stretch for her accountant to tally up.
She hasn't ER'd yet. She just came out with a new record that is doing very well and will probably earn her another 8 figures. It seems to me she lives well below her means. I don't support most of her behavior but if i was approaching 100MM in my early 20's i'd be spending at least as much as her.
__________________
aaronc879 is offline   Reply With Quote
Old 11-02-2007, 02:11 PM   #11
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,078
Quote:
As for Federline, his biggest monthly expenses include $7,500 in rent and $6,000 in security, according to his financial declaration.
:confused:
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 11-02-2007, 02:57 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,019
Britney won't outlive her money. She will be dead before she is 35.
__________________
Meadbh is offline   Reply With Quote
Old 11-02-2007, 03:35 PM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,451
Quote:
Originally Posted by Meadbh View Post
Britney won't outlive her money. She will be dead before she is 35.

Sad but probably true. However, if she does avoid an early death, I suspect that she will end up virtually broke by the time she is in her early 50s.
__________________
clifp is offline   Reply With Quote
Old 11-02-2007, 04:02 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,884
It seems that most folks get more entertainment value from observing her public antics than they do her stage performances.
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 11-02-2007, 09:42 PM   #15
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,046
Apparently people enjoy her music as her new CD "Blackout" becomes a hit.
__________________
Spanky is offline   Reply With Quote
Old 11-02-2007, 09:51 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Quote:
Originally Posted by clifp View Post
I suspect that she will end up virtually broke by the time she is in her early 50s.
She'll be in very good company. What...85-90% of the rest of the people her age will also be broke or under water in their 50's?
__________________

__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Yet another benefit to indexing Olav23 FIRE and Money 3 07-28-2007 11:59 AM
The ER Forum Status Line -- For When the Forum Goes Down TromboneAl Other topics 4 07-05-2007 11:30 AM
For those of you who benefit from Viagra... mickeyd Other topics 14 01-31-2007 07:00 PM
This Forum Is A Living Breathing Growing Life Forum Danny Other topics 25 12-09-2006 04:01 PM
SS Benefit Changes? REWahoo FIRE and Money 1 11-28-2005 02:39 PM

 

 
All times are GMT -6. The time now is 04:46 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.