I think the saddest part of these stories is that the kids aren’t even friends. Imagine working your whole childhood w someone and you’re not even friends
Non-friends don't talk to one another about abuse, pay comparisons, etc. It's oftentimes intentional from the top down to keep the actors (or any other type of employee) working harder and competing against one another. Sad!
Most work environments are like that no matter kids or adults a majority of the relationships are transactional (what can you do for me).. and when the transaction stops so does the friendlessness.
It’s a job. Not everyone is gonna be BFF. Are you BFF with everyone you worked your first job with? You still in touch with every single kid from elementary?
I’m an actor.. one year I did a big national commercial. It aired in US, Canada, Mexico for 2 1/2 years. From 2018-2021. I got residual checks after residual checks… I knew I didn’t want to be one of those actors that had nothing to show for all the money they made. So, I invested a percentage of it that i saved up and invested. That year I started studying about finances and invested which Is when I found you Graham and my financial life has never been the same since. I have now doubled the money I invested from my commercial and invested more money into my portfolio just from my regular working job. And I’ve been a fan ever since!
The Coogan Bill was named for Jackie Coogan, a child actor who made millions in the 1920s (tens of millions in today's money) only to have it squandered by his mother and stepfather after his dad died in a car accident (which Coogan survived). Ironically, his most famous role (to most people alive today) was as an adult: He played Uncle Fester on The Addams Family.
Oh I know who that is........damn! Wicked world.....sad the biological father seems to have been the only one truly protecting the kid's best interest back then with the mom being irrational. It should be mandated 75% of what child actors earn are tucked away securely for their future, if not followed they should be fined/jailed and barred from the business (15% is a joke).
I'm a longtime Christy Romano fan. I loved that she produced these kinds of videos on her channel. Her honesty has probably helped people who looked to have a career path similar to hers.
Sadly I suspect that her parents weren’t very financially literate either. If her parents were financially literate they’d have set up a trust fund for her, put her money in that trust fund, and invested it so that she’d have recurring income from that trust fund every year. And then taught her to only take the dividends put of her trust fund and leave the rest of the money in it.
Child actors should be required to be paid separate from parents The parent should have their own contract to deliver the child actor to the set and all that. Then all the money the actor gets should be put into a trust fund that pays out over time.
That’s a great idea about the parent having a separate contract - the only problem is that you’d have to find a way to prevent the parents from pushing the kid into certain roles based on the parent contract, not based on the child’s.
@@voidfroze It would have to be a secondary contract linked to the childs contract. The parents already push kids into doing what they want anyway. Look at what the little girl from the poltergeist movies went through. She was sick for a long time and they had her keep working and died after the third movie. Crappy parents are hard to stop.
You still have to teach kids financial responsibility. I know many trust fund kids who can't handle life even though they're paid in small amounts like you described.
@@triswilsful Yeah of course but with a trust fund it pays out little by little over many years so they have lots of time to learn. That way if they blow all their money one month the next month they have money again. Depending how its set up it could pay out the rest of their life or at least many years well into being an adult. Sure they can still waste it all with nothing to show for it but its harder and they wont do it as a child when they havnt had a chance to learn.
There's also a video on her channel talking about her recording contract. They were recording a song with her around 2005 and she ran into Katy Perry (who's also trying to make her debut), told her about the song, and some time later the song was given to Katy.
It is very low but the expenses are quite insane. Acting classes, coaching for auditions, headshots, potentially the cost of moving to/living in LA... I mean that alone would probably quadruple my family's cost of living. Now imagine you're driving your kid around all the time in LA traffic, homeschooling them, and helping them run lines. Oh & to be more marketable, they also do singing/dancing/etc which is more time and money. The question becomes... How do you pay for this very expensive dream of theirs when you don't have time to work?
It depends on the family’s situation. If the family is already well off, supporting the child’s career is a cakewalk. If the child is Honey Boo-Boo and you’re Mama June living in a shack somewhere, maintaining that career will bankrupt the family if the kid doesn’t take off. And remember, it’s not just the kids that are financially uneducated - the parents are often bad with money as well. Frankie Muniz really lucked out.
@@1981lashlarue Definitely both. Just like when you see kids on a football or dance team or in piano lessons. Sometimes kids are super passionate about it and sometimes parents push it on their kids.
This is how I feel about student loans for 18 year olds. (Especially millennials were so royally screwed with this) It should of been explained they will have to pay this back monthly 1-300 a month payments for decades 😂. PLUS there is no guarantee you will get a decent/high paying job able to afford these loans just from completing college. It was never explained to me and I don’t think it was explained to many young ppl. Luckily things have changed now. But it’s too late for so many of us.
Yeah the same loans I had at 18 & 19 I still have now at 31. They’re not obligated to tell you because everything is in the documents you sign, which most kids aren’t going to read. It’s explained in the fine print, which trip many people even for life
@@inspirequeensright, I honestly believe it falls on the parents co-signing these loans. They should of been explaining to their kids. My parents never explained any of it to me. I didn’t even know I took out student loans 🤦🏻♀️
I honestly don't understand how an 18 year old going into college wouldn't understand that you have to pay these loans back. Of course if you take out a 30 thousand dollar loan or more, it's going to need to be paid back. Pretty simple too that will be paid monthly and how long it may take to pay it back. It is disappointing it's not taught better though since I've heard the same thing from a lot of people
@@AFFTFOMSICHTSno that’s actually messed up if you didn’t know. At least I knew, I just kept thinking that I’ll eventually pay it off and it’ll get better. HINT: it did not get better. my parents didn’t even have to co-sign. They let me take out $40k on my own 🥲
@@1416vincent I get what you’re saying but you have to understand that not everyone was raised with competent parents. Especially having emotionally immature parents, you’re completely on your own with barely any life experience . Also not everyone is naturally intelligent, or even has the bare minimum common sense, some ppl it takes time and for some it never comes 😂 Now At 35, even at 25 I understand this but at 17-18 I was barely surviving and barely understood anything about life or adulthood period. I genuinely didn’t even know I had student loans. My parents were complete disasters as was I at that age. I’ve worked very hard at not being like them 😂
When I got older and saw what these Disney stars went through I felt so bad for most of them. You should do an episode of the Dylan and Cole sprouse, from suite life of Zack and Cody
Wale said it best when he sang "to add to the list of Beverly Hills victims." Christy's entire video series about what happened to her is good and worth watching. She's candid and very open about what's actually going on behind the Los Angeles glitter.
Of all those former Disney stars from the late 90s-present, she seems to have turned out MUCH better as an adult than most of them did. It's great that she worked through her mistakes with money, depression issues, drinking, etc., and now is talking about it in a way to encourage others to avoid those same pitfalls.
Here's an easy piece of financial and tax advice that is applicable to any situation: when someone tells you not to worry about something, that is the exact moment to be worried about that something. It doesn't matter if a professional or a lay person is telling you that, always ask questions, always get confirmations and clarifications on what is being done. In short, always be worried. Any decent financial or tax professional will be both able and willing to explain the what and why of their recommendations and actions. If they can't or won't, then find a new financial or tax advisor.
bless her ... children not loved or cared for by their family is hard to come out the other side with peace... sounds like she is an amazing women.. much richer maybe now...love her words thx Graham... things I am gleaming from too..
I have no issues if the kid wants to do it, But the parents need to be repsonsible with the money and invest it, instead of treating their kid like a cash cow. all expenses should be recorded so everything is super clear for the kid when they have grown up.
Now she's not struggling. But this struggle period she's talking about was probably years ago, most likely from age 18 to her low 20s. If that's the case, that's when she also had major depression, self-harming issues, and drinking problems, which would've exacerbated the money problems.
Sad to hear all the money was gone! How unique her situation was, a child actor who made lots of money and parents that probably don't have any financial education, its a formula for disaster. Kids don't know any better regardless how big the pay check is. Parents could've been better prepared and supported their child. $1MM earned as a 18yr old, when I was 18, I would've blown thru that in a heart beat. Appreciate Christy being transparent. thanks for sharing!
I would have loved to have managed her money for her and taught her compound interest and to delay gratification for the much bigger cash many years later.
Obviously her parents were irresponsible jackasses. Perhaps the Coogan law should also require the child to attend a financial planning course before the funds are released?
I know a lack of financial intelligence/literacy whatever you wanna call it can really be detrimental, but it's just so hard to wrap my head around how you can just spend millions of dollars and then wonder why you're broke.
Sounds like she did. I think she said in the first several minutes that she had done a book deal. EDIT: Sorry, just realized you meant a financial book for kids like this or maybe all kids, drawing on her financial experience. That’s a great idea!
She has a lot of guts for posting a video like this. More power to her and I hope she bounces back and I hope that it's a lesson to other child actors.
She's experiencing nothing I didn't experience myself. My parents knew how to work and make money....they just didn't know how to save and invest it. I had to figure that out on my own. I wish I were 20 years younger with what I know now. I'm passing this knowledge down to my kids now in hopes they don't make the same mistakes Christy and myself made.
me too, Although im making up for it now by backing up my truck into etfs at 40. its not too late for me thankfully, and I live a modest life so I can turn the ship around in time.
I think the Harry Potter kids, the main trio at least, have managed to not blow their money. I think they all came from solid families, so they weren’t being pressured to buy stuff for the family.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favorable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience since the 08' crash
Yes true, I have been in touch with a financial advisor. With an initial starting reserve off $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I receive financial advice from *Camille Alicia Garcia* a well-qualified and well-established wealth counselor headquartered in California. Her basic information can probably be found online.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
6:37 I'm sure the majority of her spending was not business related and was for personal. So she likely wouldn't be able to report most of it as a "loss" to deduct from taxes. It's too bad, if her money was invested into stocks/bonds it might have been a different story today, but she is another case study of how the school system (and other institutions) fail to teach basic money principles.
I am firmly of the opinion that launching teenagers by sending them off to college, where the helpful counsellors will do everything in their power to secure student loans for the kid, with zero financial information or training for that kid is an equally appalling and far more common case of parental neglect. How many kids land themselves with hundreds of thousands in debt and never work in the field they were educated for? About 80% of them. We need financial literacy courses in high school. Nobody should be able to sign up for student debt without having completed a short course on how it works, how the interest payments add up, how it affects your life to be saddled with that much debt. If I were designing the course, I would include instructive videos like this one, along with other people who were crushed by student debt.
I hope someone tells her about your Iced Coffee interview with Jennette McCurdy, she may find some perspective, and being in the same business I imagine it would be easy for her to make contact, if interested. Unlike professional athletes who rarely get a second act, she can keep working and move forward. Sounds like she's learned from the past, I'm betting she recovers. Wishing her well!
Maybe sports contracts and other big contracts signed with kid actors etc. Should have a clause with mandatory financial ed course. That would be helpful to so many.
My take is if the kid is legally old enough to work, they should be old enough to hold there own assets if they are at least 16. It would avoid all these bad financial issues that go on with parent's and kids. 15% is all the parent's have to leave to the kid tell they reach 18. I don't like that. It should be at least 25-30% minimum, if you ask me and the rest should be in cash to the kid. It should never be the kid's responsibility to support the parent's if there minors, that is completely ridiculous, if you ask me. The parents should absolutely, above all teach the parents good financial habits and set a clear path for their kids success...
It’s really sad, but the good thing is that if she made the millions before, she can surely do it again. And this time she will be wiser with her finances.
Maybe, maybe not. Different markets for child actors vs adult actors. She has experience in the industry and can still get work and do well though I'm sure.
You know, I never really gave it much thought but I love this Graham's channel so much. I would cry real tears if he stopped posting these videos. Entertaining, informative and educational. These videos are so ingrained in my daily life and I just had to show my appreciation.
What is it with uncles selling their nieces cars when they come in to money? Have a friend who got disability back pay, and here he comes her uncle with a truck to sell her that wasn’t even the right vehicle for her. Don’t buy vehicles from uncles 🤣
It's horrible that her parents didn't teach her how to use the money. It would be cool if studios who hire child actors to have someone teach them how to use the money that they are supposed to get to try and train them to use their money responsibly when they get access to it. Overall though she got a really expensive lesson. If she had someone teach her how to use it she could have been in a way better position.
To be fair, Mike Tyson didn’t manage his money very responsibly, but he should’ve had enough money to pretty much do everything he did. His big problem was that a bunch of people who he trusted and he thought were his friends were all stealing from him. Many of his hired managers/agents/lawyers/etc. and his “friends” stole millions.
There is so much we dont know. Id love to hear her parents side of the story. I wonder if they did tell her hey, dont waste all your money and she, like most young people, say screw that I am going to have fun! Did you ever ignore advice from your parents as a kid?
You do know she was not taxed 50% on her million dollars? Not how progressive tax brackets work. Your taxed x% for this to this and then y for next bracket. I mean their page even makes it easy as lump sum (which is combination of all brackets below) plus percent over whatever bracket your in.
Financial education is important. My friends and I would talk about winning the lottery. I told them even if I had multimillions I'd still work. It wouldn't be the grind I'm in now but you have to be careful. It's the mindset that's important. I also enjoy my job.
Look at Kevin Bacon and his wife. Both had successful acting careers. They invested most of their savings with Bernie Madoff and lost it all. $100 million dollars. Kevin said the 18 percent interest rate sounded great. So they invested almost all their money. They are now broke and living on a goat farm in Connecticut. They survive off their royalties from their careers. But theirs no Porsche in the driveway. They have left Hollywood and retired, probably from embarrassment. Go invest and lose it all. It's a deck of cards that one day will collapse
I think the saddest part of these stories is that the kids aren’t even friends. Imagine working your whole childhood w someone and you’re not even friends
Agreed
Non-friends don't talk to one another about abuse, pay comparisons, etc. It's oftentimes intentional from the top down to keep the actors (or any other type of employee) working harder and competing against one another. Sad!
Most work environments are like that no matter kids or adults a majority of the relationships are transactional (what can you do for me).. and when the transaction stops so does the friendlessness.
That is work.
It’s a job. Not everyone is gonna be BFF. Are you BFF with everyone you worked your first job with? You still in touch with every single kid from elementary?
I’m an actor.. one year I did a big national commercial. It aired in US, Canada, Mexico for 2 1/2 years. From 2018-2021. I got residual checks after residual checks… I knew I didn’t want to be one of those actors that had nothing to show for all the money they made. So, I invested a percentage of it that i saved up and invested. That year I started studying about finances and invested which Is when I found you Graham and my financial life has never been the same since. I have now doubled the money I invested from my commercial and invested more money into my portfolio just from my regular working job. And I’ve been a fan ever since!
What was the commercial for? Is it on RUclips?
The Coogan Bill was named for Jackie Coogan, a child actor who made millions in the 1920s (tens of millions in today's money) only to have it squandered by his mother and stepfather after his dad died in a car accident (which Coogan survived). Ironically, his most famous role (to most people alive today) was as an adult: He played Uncle Fester on The Addams Family.
I think something like that happened to Mickey Rooney, too.
Oh I know who that is........damn! Wicked world.....sad the biological father seems to have been the only one truly protecting the kid's best interest back then with the mom being irrational. It should be mandated 75% of what child actors earn are tucked away securely for their future, if not followed they should be fined/jailed and barred from the business (15% is a joke).
15% is the child actor’s fee. 85% is the mommy & daddy manager fee.
I'm a longtime Christy Romano fan. I loved that she produced these kinds of videos on her channel. Her honesty has probably helped people who looked to have a career path similar to hers.
15% is terrible. It should be way higher than that.Sad how the adults in her life never taught her good financial principals.
Should be 50%
They probably don’t know good financials. A lot of people are financially illiterate.
She sounds very reasonable after having been through all of that
Sadly I suspect that her parents weren’t very financially literate either. If her parents were financially literate they’d have set up a trust fund for her, put her money in that trust fund, and invested it so that she’d have recurring income from that trust fund every year. And then taught her to only take the dividends put of her trust fund and leave the rest of the money in it.
Child actors should be required to be paid separate from parents The parent should have their own contract to deliver the child actor to the set and all that. Then all the money the actor gets should be put into a trust fund that pays out over time.
That’s a great idea about the parent having a separate contract - the only problem is that you’d have to find a way to prevent the parents from pushing the kid into certain roles based on the parent contract, not based on the child’s.
@@voidfroze It would have to be a secondary contract linked to the childs contract. The parents already push kids into doing what they want anyway. Look at what the little girl from the poltergeist movies went through. She was sick for a long time and they had her keep working and died after the third movie. Crappy parents are hard to stop.
You still have to teach kids financial responsibility. I know many trust fund kids who can't handle life even though they're paid in small amounts like you described.
@@triswilsful Yeah of course but with a trust fund it pays out little by little over many years so they have lots of time to learn. That way if they blow all their money one month the next month they have money again. Depending how its set up it could pay out the rest of their life or at least many years well into being an adult. Sure they can still waste it all with nothing to show for it but its harder and they wont do it as a child when they havnt had a chance to learn.
There's also a video on her channel talking about her recording contract. They were recording a song with her around 2005 and she ran into Katy Perry (who's also trying to make her debut), told her about the song, and some time later the song was given to Katy.
Grams said for everyone to buy a G wagon! Let’s go! Great financial advice.
Right?!😂
I can’t believe 15% is the requirement for that law .. should be much higher.
It is very low but the expenses are quite insane. Acting classes, coaching for auditions, headshots, potentially the cost of moving to/living in LA... I mean that alone would probably quadruple my family's cost of living.
Now imagine you're driving your kid around all the time in LA traffic, homeschooling them, and helping them run lines. Oh & to be more marketable, they also do singing/dancing/etc which is more time and money.
The question becomes... How do you pay for this very expensive dream of theirs when you don't have time to work?
It depends on the family’s situation. If the family is already well off, supporting the child’s career is a cakewalk. If the child is Honey Boo-Boo and you’re Mama June living in a shack somewhere, maintaining that career will bankrupt the family if the kid doesn’t take off. And remember, it’s not just the kids that are financially uneducated - the parents are often bad with money as well. Frankie Muniz really lucked out.
@@QueenStix Is it usually the kid's dream or the parents dream?
@@1981lashlarue Definitely both. Just like when you see kids on a football or dance team or in piano lessons. Sometimes kids are super passionate about it and sometimes parents push it on their kids.
@@QueenStix The difference is I often think the parents push the kids into acting because they see dollar signs.
I know when Covid hit the first thing I did was to go out and get me a 12 mpg G Wagon. 🤷♂😂😂😂
"She got swindled!" Bro you were out here shilling FTX.
This is how I feel about student loans for 18 year olds. (Especially millennials were so royally screwed with this) It should of been explained they will have to pay this back monthly 1-300 a month payments for decades 😂. PLUS there is no guarantee you will get a decent/high paying job able to afford these loans just from completing college. It was never explained to me and I don’t think it was explained to many young ppl. Luckily things have changed now. But it’s too late for so many of us.
Yeah the same loans I had at 18 & 19 I still have now at 31. They’re not obligated to tell you because everything is in the documents you sign, which most kids aren’t going to read. It’s explained in the fine print, which trip many people even for life
@@inspirequeensright, I honestly believe it falls on the parents co-signing these loans. They should of been explaining to their kids. My parents never explained any of it to me. I didn’t even know I took out student loans 🤦🏻♀️
I honestly don't understand how an 18 year old going into college wouldn't understand that you have to pay these loans back. Of course if you take out a 30 thousand dollar loan or more, it's going to need to be paid back. Pretty simple too that will be paid monthly and how long it may take to pay it back. It is disappointing it's not taught better though since I've heard the same thing from a lot of people
@@AFFTFOMSICHTSno that’s actually messed up if you didn’t know. At least I knew, I just kept thinking that I’ll eventually pay it off and it’ll get better. HINT: it did not get better. my parents didn’t even have to co-sign. They let me take out $40k on my own 🥲
@@1416vincent I get what you’re saying but you have to understand that not everyone was raised with competent parents. Especially having emotionally immature parents, you’re completely on your own with barely any life experience . Also not everyone is naturally intelligent, or even has the bare minimum common sense, some ppl it takes time and for some it never comes 😂 Now At 35, even at 25 I understand this but at 17-18 I was barely surviving and barely understood anything about life or adulthood period. I genuinely didn’t even know I had student loans. My parents were complete disasters as was I at that age. I’ve worked very hard at not being like them 😂
When I got older and saw what these Disney stars went through I felt so bad for most of them. You should do an episode of the Dylan and Cole sprouse, from suite life of Zack and Cody
Sure!
It’s a pretty sad story and shows how bad Hollywood can be and the parents of these child stars. Also happy thanksgiving graham. Love your content
Wale said it best when he sang "to add to the list of Beverly Hills victims." Christy's entire video series about what happened to her is good and worth watching. She's candid and very open about what's actually going on behind the Los Angeles glitter.
Of all those former Disney stars from the late 90s-present, she seems to have turned out MUCH better as an adult than most of them did. It's great that she worked through her mistakes with money, depression issues, drinking, etc., and now is talking about it in a way to encourage others to avoid those same pitfalls.
Here's an easy piece of financial and tax advice that is applicable to any situation: when someone tells you not to worry about something, that is the exact moment to be worried about that something.
It doesn't matter if a professional or a lay person is telling you that, always ask questions, always get confirmations and clarifications on what is being done. In short, always be worried.
Any decent financial or tax professional will be both able and willing to explain the what and why of their recommendations and actions. If they can't or won't, then find a new financial or tax advisor.
bless her ... children not loved or cared for by their family is hard to come out the other side with peace... sounds like she is an amazing women.. much richer maybe now...love her words thx Graham... things I am gleaming from too..
I have no respect for a parent that pimps out a kid to work
I have no issues if the kid wants to do it, But the parents need to be repsonsible with the money and invest it, instead of treating their kid like a cash cow. all expenses should be recorded so everything is super clear for the kid when they have grown up.
How good it feels to watch your videos instead of sleeping
:)
Sarcasm?
Why is she saying she lost all of her money while wearing a $800 Gucci belt?
All I can say now is sell half your stuff on Depop
she does product deals, is she even telling the truth? who knows
She's wearing a $600 Gucci belt. She's not struggling.
Now she's not struggling. But this struggle period she's talking about was probably years ago, most likely from age 18 to her low 20s. If that's the case, that's when she also had major depression, self-harming issues, and drinking problems, which would've exacerbated the money problems.
How do you know the belt isn’t left over from when she had money?
Sad to hear all the money was gone! How unique her situation was, a child actor who made lots of money and parents that probably don't have any financial education, its a formula for disaster. Kids don't know any better regardless how big the pay check is. Parents could've been better prepared and supported their child. $1MM earned as a 18yr old, when I was 18, I would've blown thru that in a heart beat. Appreciate Christy being transparent. thanks for sharing!
I would have loved to have managed her money for her and taught her compound interest and to delay gratification for the much bigger cash many years later.
Obviously her parents were irresponsible jackasses. Perhaps the Coogan law should also require the child to attend a financial planning course before the funds are released?
I know a lack of financial intelligence/literacy whatever you wanna call it can really be detrimental, but it's just so hard to wrap my head around how you can just spend millions of dollars and then wonder why you're broke.
I think she could write a book on her experiences and what she learned -- and cash in.
Sounds like she did. I think she said in the first several minutes that she had done a book deal. EDIT: Sorry, just realized you meant a financial book for kids like this or maybe all kids, drawing on her financial experience. That’s a great idea!
@@j10001 Younger people and artists could definitely relate to her and benefit from her hard-earned wisdom on finances.
@@Maxშემიწყალე True. And Kindle subscriptions have cut author royalties to a pittance of what it was.
I am going to show this to my daughter. She has no clue about money. Thank you Graham
She has a lot of guts for posting a video like this. More power to her and I hope she bounces back and I hope that it's a lesson to other child actors.
She's experiencing nothing I didn't experience myself. My parents knew how to work and make money....they just didn't know how to save and invest it. I had to figure that out on my own. I wish I were 20 years younger with what I know now. I'm passing this knowledge down to my kids now in hopes they don't make the same mistakes Christy and myself made.
me too, Although im making up for it now by backing up my truck into etfs at 40. its not too late for me thankfully, and I live a modest life so I can turn the ship around in time.
I’m so excited to see you react to this one
Enjoy!
I think the Harry Potter kids, the main trio at least, have managed to not blow their money. I think they all came from solid families, so they weren’t being pressured to buy stuff for the family.
I'm happy that you realize the value of having a LIFE!!
No surprise right? We hear this all the time. She sounds good: Two kids and walking strong.....Good times are ahead.
She's such a legend for being real like that
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favorable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience since the 08' crash
Yes true, I have been in touch with a financial advisor. With an initial starting reserve off $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@@maryHenokNft Impressive can you share more info?
I receive financial advice from *Camille Alicia Garcia* a well-qualified and well-established wealth counselor headquartered in California. Her basic information can probably be found online.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
I watched this video on her channel and was really shocked. She should be on the podcast.
Omg i just saw her video on the psychic thing yesterday. What a coincidence
Weird timing!
Would be nice if the school system taught just a little bit about finances for the kids who don't get taught by their parents.
15% of childs earnings is atrocious. I would expect closer to 50%
In my country is 40%.
6:37 I'm sure the majority of her spending was not business related and was for personal. So she likely wouldn't be able to report most of it as a "loss" to deduct from taxes. It's too bad, if her money was invested into stocks/bonds it might have been a different story today, but she is another case study of how the school system (and other institutions) fail to teach basic money principles.
If we don't see you post anymore videos this week, Happy Thanksgiving.
You too!! Will likely post again Saturday!
never been this early to a video
Welcome!
I am firmly of the opinion that launching teenagers by sending them off to college, where the helpful counsellors will do everything in their power to secure student loans for the kid, with zero financial information or training for that kid is an equally appalling and far more common case of parental neglect. How many kids land themselves with hundreds of thousands in debt and never work in the field they were educated for? About 80% of them. We need financial literacy courses in high school. Nobody should be able to sign up for student debt without having completed a short course on how it works, how the interest payments add up, how it affects your life to be saddled with that much debt. If I were designing the course, I would include instructive videos like this one, along with other people who were crushed by student debt.
I hope someone tells her about your Iced Coffee interview with Jennette McCurdy, she may find some perspective, and being in the same business I imagine it would be easy for her to make contact, if interested. Unlike professional athletes who rarely get a second act, she can keep working and move forward. Sounds like she's learned from the past, I'm betting she recovers. Wishing her well!
Maybe sports contracts and other big contracts signed with kid actors etc. Should have a clause with mandatory financial ed course.
That would be helpful to so many.
How do you make a video called “how I lost all my money” wearing a gucci belt??
Lost all my money - not all my belongings** ;)
Damn. I remember when I used to watch Kim possible as a kid.
This was great thanks Graham
My take is if the kid is legally old enough to work, they should be old enough to hold there own assets if they are at least 16. It would avoid all these bad financial issues that go on with parent's and kids. 15% is all the parent's have to leave to the kid tell they reach 18. I don't like that. It should be at least 25-30% minimum, if you ask me and the rest should be in cash to the kid. It should never be the kid's responsibility to support the parent's if there minors, that is completely ridiculous, if you ask me. The parents should absolutely, above all teach the parents good financial habits and set a clear path for their kids success...
Hey Graham great video. Would be nice to see you interview her.
Oh! Yes the importance of handling money. It must be learned quickly or you will go down quickly.
Britney Spears just entered the chat*
I keep telling people it doesn’t matter how much money you have. Dumb people will always lose all their money, and smart people will gain their money
Read Wil Wheaton's autobiography. His parents essentially duped him out of just about every cent he earned
As the saying goes, "A Fool and their Money are soon parted"
Dang, loved that show as a kid. Sad to see this about the actress that played Ren.
It’s really sad, but the good thing is that if she made the millions before, she can surely do it again. And this time she will be wiser with her finances.
Maybe, maybe not. Different markets for child actors vs adult actors. She has experience in the industry and can still get work and do well though I'm sure.
@@Bobisabuilder25 Why can't you make as much money now?
@@Bobisabuilder25 yeah I am curious too
Yeah I got residuals too.. called a pension plus Social Security..:)
Ready for that workout channel
Gary Coleman is one of the worst examples of parents exploiting a child actor…. But sadly there are many other examples.
Graham where did you get that glass coffee cup?
Not sure! Probably Target
Ok. Seriously, what’s with the G-Wagon thing? I know it’s a status symbol thing but why is it a thing? I don’t get it.
a lot of self employed people get one bc it’s a tax write off due to its weight
@@tahinaschwegler8112 now this makes sense.
It's a hideous vehicle....
Maybe she took your advice and held crypto on FTX.
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You know, I never really gave it much thought but I love this Graham's channel so much. I would cry real tears if he stopped posting these videos. Entertaining, informative and educational. These videos are so ingrained in my daily life and I just had to show my appreciation.
I'm impressed by the cameraman's ability to walk backwards.
When people don't have money when they're supposed to, it doesn't shock me.
👌🏼👌🏼👌🏼the garage
Semi off topic, but she is literally dressed like her character Kim Possible. Black crop top and cargo pants.
5:47: Speaker for almost a minute makes this video about fucking leasing-versus-buying the Mercedes G-Class, for no good god-damned reason...
so when are gonna hear about your blunder with FTX?
HE WILL NEVER TALK ABOUT WHAT A CROOK HE IS😮
It's a shame that the adults in her life didn't teach or guide her.
15 percent in insane it should be 50
What is it with uncles selling their nieces cars when they come in to money? Have a friend who got disability back pay, and here he comes her uncle with a truck to sell her that wasn’t even the right vehicle for her. Don’t buy vehicles from uncles 🤣
It's horrible that her parents didn't teach her how to use the money. It would be cool if studios who hire child actors to have someone teach them how to use the money that they are supposed to get to try and train them to use their money responsibly when they get access to it. Overall though she got a really expensive lesson. If she had someone teach her how to use it she could have been in a way better position.
Hope you're doing well graham! Thank you again for all amazing videos! Take care brotha
Thanks! You too!
@@TheGrahamStephanShowshut up stupid
Going to the gym or painting the garage are cheap-ish, but not free.
To be fair, Mike Tyson didn’t manage his money very responsibly, but he should’ve had enough money to pretty much do everything he did. His big problem was that a bunch of people who he trusted and he thought were his friends were all stealing from him. Many of his hired managers/agents/lawyers/etc. and his “friends” stole millions.
There is so much we dont know. Id love to hear her parents side of the story. I wonder if they did tell her hey, dont waste all your money and she, like most young people, say screw that I am going to have fun! Did you ever ignore advice from your parents as a kid?
Yes would love to hear parents side too
Yeah. It's entirely possible she's just forgotten things they told her as well. Or they didn't prepare her; who knows.
She even admits to drinking and partying, so I know when I was that age and partying I sure would have ignored my parents advice.
@@crusherven
You do know she was not taxed 50% on her million dollars? Not how progressive tax brackets work. Your taxed x% for this to this and then y for next bracket. I mean their page even makes it easy as lump sum (which is combination of all brackets below) plus percent over whatever bracket your in.
You you interview her… Who is a fan of hers is Kim possible and even Stevens. she also have her own podcast now that I love. She lives in Texas now.
Great video
Thanks!
It’s better without Grahams comments
Hey is the $.20 iced coffee still $.20 because that was a while ago
Its more like 30c now
@@HH-le1vi well I guess he’s gonna have to make a new video how to make $.30 iced coffee
@@martykauffman nah. Its the same process just a different time
True@@HH-le1vi
I bet she's so smart.
Still liking!
Thank you!!
Should’ve been called the Coleman law.
how does Graham make these videos without getting copyrighted?
Financial education is important. My friends and I would talk about winning the lottery. I told them even if I had multimillions I'd still work. It wouldn't be the grind I'm in now but you have to be careful. It's the mindset that's important. I also enjoy my job.
no way i would work. Thats plenty of money to live off dividends or interest. I would have plenty of time to work out what my new life will be.
Only 15% is guaranteed?? That seems so low.
Without panic selling...
Hard lesson learned there.
No judgement here.
The parent's should have to set aside %80 of the money. Imagine working at any point of your life and getting only %15 of your wage.
That show ended two years before I was born
Another 'Disney Darling' down the drain.
Look at Kevin Bacon and his wife. Both had successful acting careers. They invested most of their savings with Bernie Madoff and lost it all. $100 million dollars. Kevin said the 18 percent interest rate sounded great. So they invested almost all their money. They are now broke and living on a goat farm in Connecticut. They survive off their royalties from their careers. But theirs no Porsche in the driveway. They have left Hollywood and retired, probably from embarrassment. Go invest and lose it all. It's a deck of cards that one day will collapse
go graham!
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oh man the "Even Stevens" chick