Whoopi Goldberg is a name that resonates with many. From her stand-up comedy to Hollywood movies, and her co-hosting the hit daytime talk show, “The View,” Whoopi has had an impressive career. Beyond her career highlights, Whoopi is also known for her wise financial habits. Here are five financial secrets of Whoopi Goldberg that we can learn from.
While many celebrities choose to live lavishly, Whoopi is known for her frugal lifestyle. She prefers experiences over material possessions. Her money-saving strategies include traveling on a budget, buying second-hand goods, and borrowing from a friend instead of renting. Whoopi’s frugal mindset allows her to save money while still experiencing all that life has to offer.
Showing off her thriftiness, for a 2013 documentary that she mostly financed called “I Got Somethin’ To Tell You”, Goldberg turned to crowdfunding for some of the project. When asked why she did this, Goldberg said “I have limited funds. I have a family. I take care of a lot of people on one check. So I needed some help.”
Whoopi believes in investing for the long term. According to her, diversification is key to successful investing. Her investment strategies primarily focus on stocks and real estate. When investing in stocks, she looks for companies with strong fundamentals. She prefers to invest in conservative stocks with stable growth over time. Whoopi also invests in real estate. She has investment properties and is always on the lookout for new opportunities that meet her investment goals.
“Know what your money is doing,” Goldberg said. “There was a time when I didn’t pay attention and my money disappeared. You can’t just assume that a company or financial adviser has your best interests at heart. If you’re not looking at something, then you don’t know what’s going on. It’s also important to understand how things like taxes are impacting your money.”
Philanthropy and Giving Back
For Whoopi, financial success is not just about accumulating wealth. It is also about making a positive impact in the world. Whoopi is actively involved in various charities and causes. She supports organizations that fight to end homelessness, promote education, and fight against cancer. Whoopi’s philanthropic activities are a testament to her character and values.
Net Worth and Financial Success
Whoopi’s net worth is estimated to be around $60 million. However, it is not just her income that has contributed to her financial success but her financial habits as well. She has been careful with her money, invested wisely, and given back to causes close to her heart. For Whoopi, financial success is not just about achieving a certain net worth. It is about living a fulfilling life and making a positive impact on others.
Lessons to Learn
There are several lessons to learn from Whoopi Goldberg’s financial habits. First, it is important to prioritize experiences over material possessions. Second, diversification is key to successful investing. Third, giving back is an essential part of financial success. And finally, financial success should not only be measured by net worth but also by impact and fulfillment.
Goldberg says that learning financial literacy is of the utmost importance, especially for people of color. “We (African-Americans) didn’t get to accumulate wealth and are playing catch-up,” she said. “We’ve got to learn how the stuff works. Why do you need a will in order to protect your family. What is interest? How does it affect my taxes? You’ve really got to know what’s going on and be patient with yourself.”