Lessons Learned from the Formerly Rich and Famous

July 8, 2009 by Mr. ToughMoneyLove  
Filed under Money and Behavior

rich_famousThe media obsession with Michael Jackson continues unabated. I can’t figure it out. The white-gloved weirdo could sing and dance, sure. But he was a general failure at life, including his financial life. Much of his energy seems to have been exhausted on frivolous and reckless spending of money. Gobs of it. Why do we admire and even worship people like that?

At one time Jackson would have been considered wealthy. By the time all of the claims against his estate are resolved, I suspect it will be carcass-picking time for his children (whom he seems to have purchased from their biological parents during his continuous spending spree.) I feel bad for them but maybe they can now find an upgraded parental substitute.  Read more