David Cassidy assets: $150,000

[ahorsewithnonam]

Wow, all those years, records, tv, concerts, and down to $150k at age 67. So sad.

[lowrider]

When was DC big? Early 70's? That's somewhere around 45 years of living off of a couple years work. Do the math.

That said, he almost accomplished my final goal in life; ''to have the last check bounce''!

[HHP]

Well,figure $700,000for food, housing and necessities. Add about $7 million for blow, it adds up.

[fazool]

Originally Posted by lowrider

...That said, he almost accomplished my final goal in life; ''to have the last check bounce''!

financial goal is to "die broke"......if you're going to leave money, leave it before you go. Use up every penny (including giving away) and don't leave any for other people to sort out. Conversely don't go broke before you die (if you can help it)

[marty bradbury]

Shoot, being 61 and used what I had in savings to keep my house during the recession I would be ecstatic to have $150,000 in the bank,

[Mr. Jelly]

I have recently discovered that there are allot of bills to pay when a person passes. And then the taxes have to be paid.

[guitar george]

If a persons assets are $150,000.00, with no liabilities, that would be pretty good for many people. How much does he owe?

[Don Lampson]

Originally Posted by ahorsewithnonam

Wow, all those years, records, tv, concerts, and down to $150k at age 67. So sad.

Dying with 150K left over is a pretty noble goal for most performers. David Cassidy was lucky. He had his moment in the the sunshine of stardom with plenty of greenbacks along the way...

What's really sad, is for every entertainer like him, who leave the building with 150K behind to squabble over, there's probably several dozen who die with nothing but debt, with repossessions of their gear & car, for their loved ones to remember them by....

Don

[Murphy Slaw]

Originally Posted by lowrider

When was DC big? Early 70's? That's somewhere around 45 years of living off of a couple years work. Do the math.

That said, he almost accomplished my final goal in life; ''to have the last check bounce''!

Yea, he really didn't do much else did he?

Seems like his head outgrew his body at some point also.

[PorkPieGuy]

Drugs and divorce are very expensive habits.

Poor guy.

[buddyhu]

Most folks in the US NEVER have $150K saved. And, a few years ago, I read that 50% of people over 50 (in the US) have less than $50K saved. And let's never forget that most folks in the US are much better off than people in the rest of the world. MUCH better off.

Yes, with the cash that came into his life, I would expect that more of it would have been set aside. Still, I am not sure whether this is "sad" in some objective sense. Maybe more poignant?

I am happy that at least a few of us responding to this thread seem to be in a better position than that.

[HHP]

Originally Posted by buddyhu

Most folks in the US NEVER have $150K saved. And, a few years ago, I read that 50% of people over 50 (in the US) have less than $50K saved. And let's never forget that most folks in the US are much better off than people in the rest of the world. MUCH better off.

Yes, with the cash that came into his life, I would expect that more of it would have been set aside. Still, I am not sure whether this is "sad" in some objective sense. Maybe more poignant?

I am happy that at least a few of us responding to this thread seem to be in a better position than that.

Don't confuse "saved" and assets. Lots of people with less than $50K in cash own homes worth 4 or 5 times that.

[buddyhu]

Originally Posted by HHP

Don't confuse "saved" and assets. Lots of people with less than $50K in cash own homes worth 4 or 5 times that.

According to fairly recent statistics from the US Census Bureau, the median income for all 233 million persons over the age of 15 was $28,567. And the percentage of adults in the US who are homeowners is currently around 65%.

While i am sure that some people have lots of wealth stashed in illiquid assets such as their homes, it is necessarily less than 65% of the population. Considering all of these stats together, it is hard for me to assume that "lots of people"; defined as a meaningful percentage) with less than $50K in liquid assets (stocks, bonds, cash) have substantial home equity that truly softens the picture. More likely, the folks that have significant equity in their homes also have other assets totaling more than $50K

If you dig into the statistics on income, savings, home values, poverty, etc., I think it is very clear that many, many folks in the US will never accumulate $150K in assets. Nor will they own homes. So again, Cassidy's financial situation is not objectively sad, IMO. Other things about his life might well be sad, of course. I don't know much about him or his life...though I understand he penned a controversial autobiography, so I guess the info is there to be had.

[Rodger Knox]

Originally Posted by buddyhu

According to fairly recent statistics from the US Census Bureau, the median income for all 233 million persons over the age of 15 was $28,567. And the percentage of adults in the US who are homeowners is currently around 65%.

That can't be right. If I remember my statistics, the median is the average of the high and low value, which would mean that no one made more than $57,134. I suspect that should be average income, not median. Including the 15 to 18 year age group lowers this average, I suspect less than 20% of this group earns more than $5000/year. As they say, figures don't lie, but liars can figure. I also suspect that 65% for homeowners includes everyone that has a mortgage, regardless of how much equity they have in their home.

I'm not disputing buddyhu's point, just pointing out some flaws in the data.

[buddyhu]

Originally Posted by Rodger Knox

That can't be right. If I remember my statistics, the median is the average of the high and low value, which would mean that no one made more than $57,134. I suspect that should be average income, not median. Including the 15 to 18 year age group lowers this average, I suspect less than 20% of this group earns more than $5000/year. As they say, figures don't lie, but liars can figure. I also suspect that 65% for homeowners includes everyone that has a mortgage, regardless of how much equity they have in their home.

I'm not disputing buddyhu's point, just pointing out some flaws in the data.

"Median" is the score at the 50th percentile...it isn't an average of any other numbers. Don't feel bad...statistics elude most people. If you understood it once, and forgot what you knew, you are way ahead of the game.