Originally posted by: Justmoi
Well again because of useless knowledge. One of the questions I am always curious about is how do people in the entertainment industry earn money during lean times given their lifestyle. We all have bills but if you have a big house, several vehicles, servants how do you maintain that ? You hear so much in the US about entertainment people firing for bankruptcy and you go how in the world did they do that ?
I know about passive income streams. South actors are famous for that. DQ's father Mamooty who is a successful actor himself for instance has a hotel I know of. Kumar Gaurav from BW runs a travel agency of all things. Actors in HW are famous for investing in real estate as a backup or even flipping houses as a hobby/income. Even Ellen does that. Point is, these people do something for a living in addition to acting because they have lost it and then come back or they know how precarious it all is.
Abhishek is the equivalent of a trust fund kid. He can sit at home and do nothing. This Kabbadi / soccer teams are vanity projects. I am pretty sure he is not as involved like SRK nor does he have his work ethic.
@bold - It is a completely different thought-process and habits between people in India and US (wrt. finances).
Indians have family income to fall back on, and I am probably going to get a bit of flak for this but - are smarter with money and savings than Americans. Sure, business families go through losses and bankruptcy (as with anywhere else in the world), but Indians (atleast middle-class and upper-) can absorb the results of unforeseen circumstances like loss of job much better than an average American (btw, I am talking more about Caucasian and African-Americans ) due to a lot of different reasons.
Speaking of middle-class Indians these days - I know people retiring or semi-retiring in their early 50s (taking up part-time consultancy work to keep themselves busy and have a little bit of extra money trickling in..), and leading pretty comfortable lives and even going abroad for vacations every 1-2 years (Mauritius, Maldives etc have become commonplace now and after that they target Europe, US and Australia). Yes, some of it is because of the comfort in knowing they will have family money but a lot of it is through what is generated through their savings. If it is a two-income household, then it is even more common.
If middle-class families can afford to do all this and handle difficult situations, we are talking about actors whose annual income is in double-digit crores.
Anupamaa
Current Affairs
1