The great Elizabeth Taylor would have turned 81 today. Like scores of fans of the violet-eyed actress, I'm privy to every movie, every scandal, and every husband of her rich and colorful life.
Despite Liz's legendary excesses and indulgences, when compared to some of today’s Hollywood royalty, Ms. Taylor truly had her act together - especially when it came to her finances. While her love life may have been in a state of constant flux, her bank account managed to weather the storm of eight costly divorces.
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When it came to money-management, Liz exhibited pearls of wisdom of gems of know-how:
Liz knew how to invest for the future – Elizabeth Taylor’s love affair with jewelry is legendary. Her collection was one of the finest ever assembled, each piece lovingly collected over the decades and rarely parted with. At the time of her death, her collection was reportedly valued at $150 million, a mere fraction of what she originally paid for it. Unlike movie stars who spend their money foolishly as soon as it gets into their hands, this diva knew how to work it – glamorously.
Liz loved real estate. Owning homes in Bel Air, Palm Springs, London and Hawaii, Taylor knew a good investment when she saw it. Location, location, location!
Liz Taylor knew how to reinvent herself. When her film career began to wane she turned her talents toward perfume. If you’re at a point in your life when earlier pursuits are no longer viable, reinvent yourself toward a new career path. If Liz can do it, so can you!
Liz made it a point to invest her money, time and talents in worthwhile charities. Liz dedicated her efforts toward HIV/AIDS humanitarian work, and was honored with a special Academy Award (the Jean Hersholt Humanitarian Award) in 1992 for her dedication to the worthwhile cause. If you have a special charity that’s near and dear to your heart, put all you’ve got into it as well. A wealthy spirit is worth more than a hefty wallet.
Happy Birthday Liz!
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