In fact, i feel quite sad for the celebrities who after going through all the luxuries in their lives, in turn, have to lead a life of poverty (& debt) in their aftermath usually after their careers have nearly ended.
Some more examples including Mike Tyson, Michael Jackson can also be found in the links below:
- http://www.totalbankruptcy.com/blog/michael-jackson-neverland-ranch-and-foreclosure/
- http://www.legalzoom.com/money-matters/bankruptcy/how-celebrities-go-bankrupt
All these boils down to one fact - They are not living within their means!
If you have read Financial Self-Help Books like "Rich Dad ......
I strongly agree with you, as western life is all about excess, while you must seek peace in your mind to achieve happiness.