We love them, we hate them, but the fact is we are interested to find out how celebs live their lives, how much money they have and what they spend it on. Being famous and consequently wealthy and powerful gives them access to the best wealth advisors and best wealth management firms so they can be carefree about the way their money is handled.
When we think about money, we think that we would splurge and buy luxury items every day. Women especially enjoy buying dresses, jewelry, perfumes and travels around the world, but the truth is in cases when a lot of money is in play, wealth management must be included and well incorporated. Celebs usually hire someone when they want to make investments to be aware of the full scale of risks and advantages that come with it. It is a serious job position necessary for running finances successfully.
Asset management
People who have lots of money usually want to increase that amount and one way is by making investments with the potential to gain more and minimal risk of losing it. There are companies that can make all the assessments of expenses, risks, investments, maintenance – basically everything so owners can enjoy their property to the fullest without any inconveniences. Some decide to invest their money in retirement funds, pension funds, mutual funds or hedge funds. With the right asset management team, the financial goals are easily achieved. Once they have all the necessary information, the decisions are made easier.
Retirement planning
Even though we love to see only the glam side of the people we see on the screen, there is more to it than just parties and enjoyment. These are just people, after all, they need to think about the days when they won’t be able to work just like any of us. In cases when they don’t know how to handle retirement, they usually consult a retirement management advisor in order to make sure that they are making a wise decision. Even though their plans usually follow the standard protocols, some celebs decide to come out of retirement to work more, make some new shows, songs or movies and make a great splash that they enjoy so much.
It is often not just about the money, but about the creative outburst that they want to share with the world. Few celebs that did exactly that are David Letterman, Ozzy Osbourne, and Tina Turner. After announcing the end of their careers, they realized that they miss the stage and earned millions after it. Some people simply belong to the stage and can’t function otherwise. We can’t blame them, in fact – we want more.
Protecting the wealth
It’s not easy to have great wealth even though we see only the positive sides. It needs to be protected and US trust private wealth management is probably the safest choice someone can make when it comes to safeguarding the money. It is a safe way to perform transactions, manage credit cards, have a safe wealth planning and enjoy some family wealth services. When they know their money is well kept, they can focus on their careers and do what they enjoy most.
Life insurance
Considering that most celebs live with a certain risk of accidents because of their jobs or attract negative attention from unwanted people, most decide to invest in life insurance in order to protect their family even more and take care of them in a potential situation like this. On the other hand, some celebs decide to pay insurance for certain body parts. Jennifer Lopez insured her behind for jaw-dropping 27 million dollars. Heidi Klum insured her amazing legs for 2 million each. Julia Roberts insured her teeth for 30 million dollars. Celebs truly found a great way to protect their enormous wealth and we can’t really blame them. We love them just the way they are and it would be a real shame to see something bad happening to them.
Now you know how celebs handle their money. It is usually in the hands of experienced professionals who are able to display all the advantages and disadvantages of investing money, suggesting the best ways to keep it flowing and decreasing the risk to the highest possible extent. In the end, what is left is to enjoy the glam that surrounds them and make our days brighter.
