Why would a couple risk so much — respect and even their freedom — for furs, furniture and a fedora?
Part of what I do is help people understand the often-complicated issues we have to deal with when it comes to our money. But I also like to explore the mess people get themselves into when they don’t have the money to buy the things they want. Most often they get into mind-boggling debt. If Jackson takes a plea deal as has been reported, he will have lost so much, and for what?
You have to shake your head when you read a list of the things he bought. According to a property list detailed in a court document, he spent:
●$5,000 on fur capes and parkas.
●$9,588 for children’s furniture.
●$26,700 for Michael Jackson memorabilia, including a $4,600 fedora.
●$10,105 for Bruce Lee memorabilia.
●$11,130 for Martin Luther King Jr. memorabilia.
●$2,200 for Malcolm X memorabilia.
●$2,775 for Jimi Hendrix memorabilia.
●$43,350 for a gold-plated Rolex watch.
●$5,000 for a football signed by American presidents.