David Cassidy assets: $150,000

[RP]

There's assets and there's assets. I find it hard to interpret what this means without knowing what his actual assets are. Are his assets in cash, a collection of guitars or old records, showy clothing that he wore while performing, a house that he overpaid for and has depreciated in value, the motorhome that he used to travel to performances for the past ten years or some combination of all of these????

According to his March 2016 bankruptcy filing https://radaronline.com/celebrity-ne...urt-documents/ in Broward County, Florida his assets included his Fort Lauderdale mansion (worth $3 million), two lots in the Bahamas (purchased for $387,000 each), $120 in cash, and a little over $3,000 in his bank accounts. He also claims to have $20,000 in furniture, nearly $500,000 in his IRAs and $30,000 interest in a tax refund.

Cassidy lists several cars of unknown value: a 2009 Chevrolet Corvette and a 2004 Lexus.

He is still waiting for $94,000 from a legal victory against SONY for unpaid royalties from The Partridge Family.

However, his debt included an $855,000 line of credit on his Florida home, $803,000 on a first mortgage on the property, $21,000 to American Express, over $150,000 owed to various lawyers and $292,000 to Wells Fargo for a personal line of credit, court documents state.

Cassidy wrote that his average monthly income was $12,500 a month but his expenses came out to $27,722, leaving him in the red nearly $15,000 a month.

Case in point. Cassidy's Florida home was "valued at $3 million" but sold as part of his Chapter 11 bankruptcy for $2 million and change which was said to be 105% of the home's value...

[Mr. Jelly]

Wow! Now I know more about David Cassidy than I ever wanted to know. I'm pretty sure I won't be using this knowledge anytime in the near future. But thanks.

[rokdog49]

After reading all this, I feel very wealthy.
My wife and I have no mortgage yet we own our home. We have no debt outside of one credit card which is interest free and could be paid off today if we chose to do so. We have two cars...paid for. We live comfortably on our social security and one annuity with money left over every month.
Boy, are we un-American

[Budman1]

$150,000.00.........
And according to his daughter, his last words were...”so much wasted time”.....

[HHP]

I expect a lot of musicians who achieved some fame in the 70's and 80's are less well off than many would imagine. I recall that when the group Poco had several hit records, the band members were getting very little money. When their bass player moved to play with the Eagles, he was making under $300 a week.

[Rodger Knox]

OK, I stand corrected. If I understand, half are below the median and half are above.

[RP]

Originally Posted by buddyhu

"Median" is the score at the 50th percentile...it isn't an average of any other numbers....

Actually if you're trying to identify the median in a set of numbers that is even (there are four, six, eight, ten...numbers), you take take the average of the two middle numbers after they are ordered numerically...

The median is also the number that is halfway into the set. To find the median, the data should be arranged in order from least to greatest. If there is an even number of items in the data set, then the median is found by taking the mean (average) of the two middlemost numbers.

[aknow]

Originally Posted by HHP

I expect a lot of musicians who achieved some fame in the 70's and 80's are less well off than many would imagine. I recall that when the group Poco had several hit records, the band members were getting very little money. When their bass player moved to play with the Eagles, he was making under $300 a week.

My brother was their road manager. They were always broke. I recall taking Paul Cotten's wife Charlotte to the local market for groceries, he repaid me with guitar lessons. That band was treated horribly by it's "management".

[AmericanEagle]

I personally would love to have $150 grand.

[220volt]

Comparing that to Eric Clapton (just him) clearing $750k a night on his 2010 tour.