“Depp’s earnings are massive any way you cut it, whether he is getting paid $20 million per film — purportedly his going rate in 2014 — or $1 million per week on any project. But his spending problems are relative to those earnings,” writes Chuck Jaffe. Johnny Depp’s issues with personal finance have been fodder recently for the tabloids. It’s a classic story of spending more than earning. Despite earning way above ordinary person, Johnny Depp ran into personal finance trouble due to the fact that he owned a 45-acre village in France, spent $18 million to renovate a 150-foot yacht, owned 14 residences, plus a collection of islands in the Bahamas, paid more than $3.5 million a year to pay for a staff of 40 people, and spent a purported $30,000 per month on wine. “The first secret to financial planning — which shocks people — is spend less than you earn,” explained Michael S. Falk of Focus Consulting Group in Chicago. “You start by living within your means, no matter how much you are making. If you always spend less than you earn, the question is did you save the difference, and how have you invested it.” (richmond.com)
Financial Lessons from Johnny Depp’s Undoing
