Quote:
Originally Posted by SteveMacD
I think it’s bad enough that he has his accountant set up an allowance for him.
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At least he's learned he needs to do this. Hopefully it will keep him from going bankrupt yet again.
Rock star: "I can afford to buy seven houses!" Accountant: "Yes, but can you afford years of paying all the property taxes, upkeep, etc. on all those houses in addition to all the other purchases you're going to make? Those houses will wind up costing you a great deal more than their asking price over the years." Rock star: "Er... oh."
I do think another reason he went bankrupt is his tendency to pour money into ill-conceived business ventures. One can understand those electronic drum things he did a while back although that failed, but there was also the wine, the jewelry(!), etc... investments that didn't pay off.