Celebrity Financial Mistakes (Learn From Their Mistakes)

imageWhat does Michael Jackson, MC Hammer, Wesley Snipes, Naomi Campbell, Mike Tyson and Issac Hayes all have in common? Well, for one, they are all notable celebrities… that have trouble with their finances in one form or another. With Michael Jackson selling off Neverland and memorabilia, one would think “wait a minute. Isn’t he rich?”

(More after the jump)

Econ4U decided to use celebrities such as the ones I mentioned and more (there’s a reason why Marvin Gaye’s album was titled “Here, My Dear”). They covered 8 valuable lessons you can learn such as:

  • Tax Evasion
  • Foreclosure
  • Money Hungry Relatives
  • Bad Investments
  • And the most common… Poor Financial Planning (hey, even I been through this one)

It’s worth reading, especially if you don’t want to be in MJ’s position. I mean, it’s one thing to sell out a concert in another country. It’s another when you’re not really the healthiest, or you’re looking really desperate to most of your own fans.

Celebrity Financial Mistakes [Econ4U.org]

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