How Millionaires Go Broke? (Video)

Celebrity bankruptcies are as common as celebrity divorces, and they’re a lot more mystifying. How can professional athletes and silver screen megastars go broke when they’re hauling in millions each year?

For one thing, celebrity salaries aren’t as reliable as an ordinary professional salary. Lebron James may have pulled in $53 million last year, but injury or age will eventually force this star player into retirement. Only time will tell if the 27 year old has built a strong and smart financial plan to take care of himself and his family decades after he’s left the game.

Check out our latest video demonstrating that multi-millionaires go broke for the same reasons the rest of us do: careless spending, unwise investing and family expenses. It’s easier to lose a lot of money when you have a lot of money coming in.

 

 

 

Source: OnlineMBA

More in Video

tranformer-bmw

This BMW Is A Real-Life Transformer [Video]

We thought Nike’s self-lacing HyperAdapt sneakers were the coolest fake movie gizmo turned real, but now we’ve got this incredible footage of an actual Transformer. Twelve brilliant engineers and four technicians at Turkey-based Letrons created “Antimon” in only eight months using an actual BMW. And they’ll even sell future creations…

near-miss

Shocking Video Of A Near Miss On The Runway

Formula One Air Racing has been an aeronautic staple for nearly 70 years, but that doesn’t mean accidents don’t occasionally happen. Such was the case on September 18, when pilot Thom Richard experienced some engine difficulty with his F1 racer, Hot Stuff. Following proper protocol, Thom shut off his aircraft…

error: