Celebritys on Retirement

[RetireeRobert]

Very interesting article interviewing several celebrities on their preparations and thoughts for retirement:

Celebrities on retirement

 

[HFWR]

Note to self: don't take investment advice from "celebrities"...

 

[MasterBlaster]

Note to self: don't take investment advice from "celebrities"...

Note to self: don't take POLITICAL advice from "celebrities" either

 

[Nords]

Note to self: don't take investment advice from "celebrities"...

Hey, some of their investment advice is very helpful!

"Cocaine is God's way of telling you that you have too much money."
-- Robin Williams
"I used to have a drug problem, but now I make enough money to afford it."
-- David Lee Roth
"Whenever I got to the point where I'd spent all my savings on coke and needed to earn more money, I'd get another $700K royalty check."
-- Rick James

And as for Alice Cooper... well... that's an entire book: "The Harder They Fall". Let's just say that celebrity investing turns out to be a lot easier once they overcome all their other obstacles.

Those BankRate.com profiles seem to show a huge preference for real estate-- raw land, strip malls, apartment buildings, even storage buildings. Municipal bonds are another popular asset class.

I'm still trying to figure out why a celebrity would want to retire in the first place. Actor Jimmy Stewart was doing commercial voiceovers well into his 90s-- and then there's the Rolling Stones. Now there's a frightening comparison...

 

[youbet]

Given the audience someone like Charles Barkley would have......

Lesson learned:
Invest your money wisely for your future.

doesn't seem like bad advise.

 

[Eagle43]

I'd take advice from John Stossel.

To wit:
Bankrate: Do you have any favorite targets in the financial world?
Stossel: Sure. In the "Experts" chapter, we talk about the guys who go on TV and give you advice on picking stocks. They do work at it full time, so you'd think they'd know something, but they are so full of it. Over the years most of them fail to beat the averages, the index funds. Which means that if you blindfolded yourself and threw darts at the stock tables, odds are you would outperform most of these people on TV because the information they're touting is available to everybody. Only 5 percent of them are able to beat the market, which means 95 percent of them don't.

 

[bssc]

I'm still trying to figure out why a celebrity would want to retire in the first place. Actor Jimmy Stewart was doing commercial voiceovers well into his 90s-- and then there's the Rolling Stones. Now there's a frightening comparison...

Well, given that Mick studied some at the LSE, I wonder if he took his social security at 62 or is waiting for 70 years or somewhere in-between.

 

[Helen]

And as for Alice Cooper... well... that's an entire book: "The Harder They Fall".

From the book, "The Harder They Fall":

Dock Ellis tells of pitching a no-hitter while on LSD


Whoa, that must have been a trip!

 

[HFWR]

From the book, "The Harder They Fall":

Dock Ellis tells of pitching a no-hitter while on LSD


Whoa, that must have been a trip!

Yeah, I'm inclined to call bullsh!t on that one...

 

[travelover]

In a similar vein, has any one seen the Louis Vuitton advertisements with Mikhail Gorbachev? I guess pension benefits for former Soviets isn't as rich as in the past.

Fellow travelers

 

[Nords]

Yeah, I'm inclined to call bullsh!t on that one...

I've seen Dock in person, I've seen him pitch, and I think he was telling the truth.

He probably scared more people on the rare occasions that he was sober.

 

[TickTock]

Heck, Britney Spears is what, 25, and is estimated to be worth about 100 MILLION US dollars?!?!?!?!?!?

How can a 25-year-old *possibly* deal with that?

(Oh, yeah, I know, please give me the chance so I can demonstrate I won't screw it up...)

Let's run some dart-throw numbers:

100 million net worth

effective tax rate 33%

SWR 3% (hey, she's only 25)

So her capital throws off 3 million a year, of which 1 million is lost to taxes.

2 million $ / year divided by 265 days / year = about $5,500 PER DAY!!!

Why not drop out of the scene, do whatever you want, take the shows that stroke your ego (regardless of money. Heck, taking only shows that YOU want to do would make a hotter product, I think)?

The thing is (1) she doesn't have any understanding of personal finance (how could she, given her background), and (2) she doesn't have any concept of how to live life differently. In my opinion.

 

[travelover]

..........2 million $ / year divided by 265 days / year = about $5,500 PER DAY!!! ....

That would buy a lot of underwear. Or mental health counseling........

 

[MissParker]

And she could use both badly!

 

[Eagle43]

Yeah, I'm inclined to call bullsh!t on that one...

Somewhere Ryne Duren is smiling.
Ryne Duren - BR Bullpen

He was nicknamed Blind Rhine. If I remember correctly, he'd drop his glasses on the mound and get down on his hands and knees and feel for them. And he was a drunk. No fun batting against him. But he didn't last long, booze definitely contributing to the brevity of his career.

A hard-throwing, hard-drinking relief pitcher who spent most of his career in the American League, Ryne Duren was frightening to bat against because he only intermittently had control of his prodigious fastball. Thick "Coke bottle" glasses, a reputation for heavy drinking, and a tendency to throw warmup pitches against the backstop only heightened batters' unease.

 

[HFWR]

Not that I know anything about an LSD trip, but kudos to anyone who could pitch while tripping [-]on good acid[/-]...

Wonder if he ever broke down on the mound, and laughed uncontrollably for thirty minutes?

 

[Orchidflower]

1. I saw a photo of Keith Richards when he was starting out with the Rolling Stones the other day. I was actually shocked at how handsome he was. My God...is THAT what good times with drugs and alcohol does to your? They ought to use him as an example at AA.
2. WHY is Madonna still chasing the dollars and performing?

 

[Orchidflower]

Just noticed Barbara Eden was on this Celebrities Roundup. Her stepson with hubby #2 used to rent part of my garage in Chicago for his motorcycle. Good guy. He was some kind of laborer in his father's bar/restaurant ventures.

 

[RetireeRobert]

Just noticed Barbara Eden was on this Celebrities Roundup. Her stepson with hubby #2 used to rent part of my garage in Chicago for his motorcycle. Good guy. He was some kind of laborer in his father's bar/restaurant ventures.

Another example of the "six degrees of separation" theory.

 

[Orchidflower]

Trust me, that Barbara Eden is one smart cookie. Chuck, hubby #2, was no poor guy in Chicago. He owned THE hottest bar/restaurants around. No...he had $$$$. This gal ain't giving anything away for free....which is probably why she has money today.
I know her only child, a son, died doing drugs, I think it was. Heartbreaking...so, nobody's life is perfect.