Skip to comments.Rich Susan Boyle living on a pittance (Singer allowed to spend only $471 a week by her managers)
Posted on 08/02/2010 2:07:25 PM PDT by SeekAndFind
Scottish singing sensation Susan Boyle lives like a pauper -- although she's sitting on more than $15.7 million in the bank, according to a stunning report yesterday.
Boyle's managers have such a tight financial leash on the "Britain's Got Talent" star that she's allowed to spend only $471 a week, has no credit cards and travels by bus, the British paper News of The World reported.
"When Susan realized she can't just walk into a bank and take out her own money, she had a fit because she thought she was down to her last few quid," her brother Gerry Boyle said.
"Her millions are ring-fenced, but Susan has no concept of money. She was extremely distressed."
The newspaper said sources within SuBo's management team confirmed her paltry allowance, but insisted Boyle, 49, could have more any time if she wanted.
(Excerpt) Read more at nypost.com ...
I hear ya.
Yes, many/most do waste it, but I’ve seen others use their “new” wealth to bully and intimidate people. Others become ultra stingy with others, always trying to get out of paying on one pretext or another, while lavishly spending on themselves.
My friend’s parents tithe 80% of their earnings every year. They live in a nice enough home, but very little about their lifestyle screams, “We’re RICH!”
11 Wealth gained hastily will dwindle,
but whoever gathers little by little will increase it.
15 The simple believes everything,
but the prudent gives thought to his steps.
2 Desire without knowledge is not good,
and whoever makes haste with his feet misses his way.
5 The plans of the diligent lead surely to abundance,
but everyone who is hasty comes only to poverty.
4 Do not toil to acquire wealth;
be discerning enough to desist.
19 Whoever works his land will have plenty of bread,
but he who follows worthless pursuits will have plenty of poverty.
20 A faithful man will abound with blessings,
but whoever hastens to be rich will not go unpunished.
Yep. Look at the legions of NBA and NFL players who are penniless within 5-10 years after retirement.
I’m curious about the tax situation there in Scotland. How much of that is the Crown going to take?
Much too severe a budget.
Yes it is. They should at least buy her a bike. She needs to avoid the bus...too dangerous. There are lots of good used bikes out there.
RE: Im curious about the tax situation there in Scotland. How much of that is the Crown going to take?
ACCORDING TO THIS SITE :
Income tax: taxable bands and rates 2010/2011
Taxable income rate of tax
0 - £2,440 10 per cent (starting rate for savings only)
0 - £37,400 20 per cent (basic rate)
£37,401 - £150,000 40 per cent (higher rate)
Over £150,000 50 per cent (additional rate)
Tax is payable at the basic rate of 20 per cent on taxable income up to £37,400.
If you have more than £37,400 but less than £150,000 of taxable income, you will have to pay a higher rate of 40 per cent tax on the amount above £37,400 and below £150,000.
If you have more than £150,000 you will have to pay an additional rate of 50 per cent tax on the amount above this level.
Right. I figured it was quite high. So perhaps they have structured this windfall for her in such a way as to avoid those confiscatory taxes. I wouldn’t assume the managers are cheating her or trying to retain the money for their own management interests.
Not sure what that means. Do they pay the tithe (10%) on 80% of their earnings? Or do they give 80% of their earnings to the church?
I read one article that said she has had behavioral problems since she was a child, bipolar was how it was described.
They give 80%.
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