Celebrities are a huge influence in our lives. From fashion to the latest diet fades, they dominate our lives. However, did you know that you can learn a few valuable financial lessons from them and their lives? They live complex and busy lives, and some of them earn too much for their own good. While a few celebrities tend to live in the moment and let it down the drain, others make sensible decisions with their money.
Here are a few lessons that you can learn from their lives.
We all know the importance of real estate in building a profitable portfolio. While a lot of celebrities throw in money to buy the house of dreams, Ellen knows how to make profits in the process. This sweetheart of the idiot box has owned and sold as many as 12 houses ever since fame started following her. She made a whopping $15 million from one of her sales.
You can certainly learn a lesson or two from her life. Invest in real estate to make considerable profits. The key is in understanding when to sell. Take frequent stock of the market and keep your options open. Sell it off when you get a keen buyer who is willing to pay more than the market value.
Kutcher made his debut playing the role of Kelso in ‘That 70s Show.’ He went on to win several hearts as his career bloomed. However, few people know that is also an entrepreneur. He, along with his partners, went on to open a venture capital firm called the A investments. Headquartered in Los Angeles, the firm has made significant investments in companies like Shazam, Uber, Soundcloud, and Airbnb.
Here is a crucial lesson in generating an alternative stream of income. When you have disposable income, you can consider putting it to good use to earn good returns in the long term.
Who in the world is not a fan of Rihanna? Apart from having the most fabulous voice, the singer also has an entrepreneurial mind. She ventured into the lucrative space of personal beauty with her line, ‘Fenty Beauty’. It is a highly inclusive brand with as many as 50 shades of foundation! She has also signed with LVMH for her own line of clothes, accessories, shoes, and jewelry. Her efforts have built her a fortune of a $600 million fortune, and she is the richest female musician today.
Her life teaches us to seize the opportunity, and look out for the consumers’ needs.
Here is a celebrity who doesn’t believe in splurging money on her looks. With an estimated worth of around $16 million, she can afford any expensive label. However, she chooses to stay grounded and has been often spotted sporting regular brands.
You can learn an important lifestyle lesson from her life. Instead of spending your money frivolously as your income increases, try to maintain your current lifestyle. Save the extra money for a better post-retirement life.
Sarah Jessica Parker
This ‘Sex in the City’ star is known globally for her fashion sense and sartorial choices. The actress has a net worth of an unbelievable amount of $90 million. She can afford any label that her kids wish to wear or use. However, she insists and is very vocal in giving them hand-me-downs.
Whatever your income may be, teach your kids the importance of saving money. Hand-me-downs are not only more economical but can also reduce the prevalent consumerism. Most of these articles are going to end up in landfills anyway. Utilizing used articles will make you a responsible citizen and also reduce your bills.
This American heartthrob is quiet vocal about climate change and promotes healthy lifestyle choices. He owns only one car when he can afford to have a fleet of luxury cars. Instead of owning a charter plane, he prefers to fly economy class. He also chooses to donate to environmental causes that are closest to his heart.
You can learn the value of donating to charity or to causes that are the closest to your hearts. Instead of spending money on trivial objects, try to save them for your retirement.