I’ve been wondering why it is newsworthy that a famous entertainer, supposed worth millions (at one time, at least) is losing his home. According to the “Los Angeles Times,” “The six-bedroom, five-bath home on Crest Court is listed for sale at $6.25 million, said real estate agent Alex Davis of Alex Davis Estates, who has the listing. ‘It’s been on the market for two years, he said.'”
How do you loose something that is worth 6 millions dollars?
I saw a clip of McMahon’s interview last night with CNN’s Larry King … McMahon said it’s pretty simple actually, when you spend more than you make you end up with not enough. His wife looked at him and asked, yeah, where are those millions, Ed?
He went on to explain that after a few divorces and an accident the prevents him from working, the money just goes.
It’s sad that someone who has, HAD, millions of dollars can’t afford his home anymore. I hear the good news is that with all the press they’ve been able to show the house more. Hopefully they will sell it and move into something they can afford for the rest of their years.
So, I wonder again why is this newsworthy? Because it’s a warning for the rest of us. No matter who you are, no matter how much money you make, the economy is hard right now. Take steps now to prevent something like this happening to you.