Franklin Mcmahon
Why don't celebrities BUY their homes?
Lots of foreclosures going on, it's understandable for regular folks to not have the cash up front. Seen celebs houses going under and repossession of sports cars: Evander Holyfield, Ed McMahon, Aretha Franklin, Jose Conseco, etc....anyone have any ideas why some celebrities don't buy their homes outright? if you're making $6 or $7 million dollars a year or per movie, or whatever what are reasons not to purchase your $2 million home?
most celebs make a lot of money very young (before they are mature enough or experienced enough to know how to save and invest it). most of them also have very short careers -- some actors and musicians continue to work into their 60s and beyond, but athletes in particular are lucky if their careers last into their 40s.
since the money comes soon and often dies early, a lot of celebs find themselves with little money as their spending habits have been less than responsible and they don't have much of a retirement plan in place.
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 1976 Franklin McMahon Lincoln Park Zoo Collector Plate $4.99 Time Remaining: 10h 34m Buy It Now for only: $4.99 |
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 Limited Edition Franklin McMahon Chicago Collection Plates 1979 Set of 2 $7.50 Time Remaining: 3d 17h 15m |
 Limited Edition Franklin McMahon Chicago Collection Plates 1977 Set of 2 $7.50 Time Remaining: 3d 17h 15m |
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