Celebrities savvy with savings
Invest, but don't gamble
Writer ("Kids Say the Darndest Things," "Old Age Is Not for Sissies")
Bankrate: How have you invested your money?
Art Linkletter: I owned a million-acre sheep ranch in Australia. I was an original investor in the Hula Hoop and still receive income from my financial interest in the Game of Life, which I've had coming in for the last 32 years. I've served on a lot of corporate boards, including MGM, the MGM Grand Hotel in Las Vegas and Western Airlines. It's kind of funny -- I wouldn't put a quarter in a slot machine, but I've been involved in companies that drill for oil and gas. I invest in stocks and bonds, too, but am always looking for new business opportunities.
Lesson learned: Gambling and investing are completely different things.