Gyroscopic Investing

http://www.cnbc.com/id/101345320

One problem unique about being a porn star (and related careers in adult entertainment) is that one's earnings decreases as their age increases (esp for females), while in the vast majority of other careers, one's earnings increases with age.  Too often, I read about some former porn star in the news who has spent all of her money, has little/no career options at this point, and have taken desperate measures to put food on the table.  It seems like this has become the norm.

I wonder if any porn stars have figured out Harry's #2 rule when they're 18-25, made a killing, and retired before they've hit the end of their "shelf life", never having to work a day again for the rest of their life. 

Rule #2: Don't assume you can replace your wealth.

The fact that you earned what you have doesn't mean that you could earn it again if you lost it. Markets and opportunities change, technology changes, laws change. Conditions today may be considerably different from what they were when you built the estate you have now. And as time passes, increasing regulation makes it harder and harder to amass a fortune.

So treat what you have as though you could never earn it again. Don't take chances with your wealth on the assumption that you could always get it back.

I haven't read the article, but I guess the only thing they (the smart ones) can do is form a production company.

MangoMan wrote: Ha. This problem is not unique to female porn stars. Look at the avg NFL or NBA player:

Comes from poor upbringing >
instantly becomes rich [minimum salary in the NFL is $375,000, median $770,000, often signing bonuses push those numbers well over a million] source >
squanders $ on fancy and expensive cars, women, housing, bad business deals >
career ends with injury or age in late 20's >
broke, often physically as well as financially.

Several years ago, the leagues put in place programs to help the players better manage their assets, so as not to end up destitute. Idk if participation is mandatory or if it actually works. Maybe the Adult Film Actors Guild could start a similar program? 

With our morals and politics, I don't see that happening in our lifetime..  maybe it'll fly in the Netherlands but definitely not the US (or 90% of countries in the world.)

I don't know if the "Adult Film Actors Guild" is a thing, but if it is, it would have quite an unfortunate acronym.

Pointedstick wrote: I don't know if the "Adult Film Actors Guild" is a thing, but if it is, it would have quite an unfortunate acronym.

ahahahahah