Friday, November 2, 2007

Saving for the Future - Don't Pull a Britney Spears

Okay, I will admit to being a Britney Spears fan. I have always liked her, and probably always will. I am not one to gossip...oh who am I kidding...but I saw on Good Morning America today that Ms. Spears makes $737,000 a month, as disclosed in court documents (I assume having to deal with all of her custody battle dealings).

According to these court documents, Britney allegedly spends $102,000 on entertainment and $16,000 on clothing each month. When I saw these figures, my jaw dropped. However, when I sat back and thought about it, when it comes to the actual percentage of her earnings, she probably spends the same on clothing and entertainment that you and I do.

So let's crunch the numbers...Britney spends 2% of her income on clothing and nearly 14% on entertainment...really, not that bad. But what I was shocked by was the amount Ms. Spears spends on savings and investments. Get ready for this, zilch, zippo, nada, nothing!!!

I know that I alone contributed to her $737,000 yesterday by buying her new CD, Britney Spears - Blackout(which is pretty good, by the way), but come on woman, you aren't going to make nearly 3/4 of a million dollars a month forever. And it flabbergasts me that she doesn't have a money manager to plan for her. My hope is that she just didn't disclose the proper information for these court documents. Although, I suppose that could get her into even more legal trouble.

My point is, and as much as I love Britney, don't follow in her footsteps and not plan for the future. Make sure that you are contributing to your 401(k) plan or investing in a traditional IRA or Roth IRA. Because even in Britney's defense, at 65, she will still get more money for a crotch shot than you and I ever will.

Just some food for thought...have a great weekend!


Anonymous said...

That shocks me! Who is her accountant? She is going to end up a spinster on the street if she doesn't stop all these crazy ways!

Houses, Couches and Babies said...

Oh, another rumor I heard about britney today...apparently she is looking in to getting lipo...bad move. Why doesn't she just work out, or I don't know, rehearse, for a few hours a day to get back into shape. I mean, look at these dancing with the stars people!

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