savings

Celebrities savvy with savings

Intelligence goes a long way

Charles Grodin
Actor

Bankrate: Do you handle money well?

Charles Grodin: Yeah, for some bizarre reason. There have been two areas that have nothing to do with my background at all -- I'm not a lawyer and I have no real financial background -- and I was able to get clemency for four women who were in prison, and I've made some very smart financial decisions. All my life.

This is an example: I recognized somebody who was very smart that I should turn my money over to, and I did that. I remember I was in some big family transaction, my wife's family, for two or three years, and I would lead the conference calls with the attorneys, and these guys who went to Harvard or Wharton, and when it was over, the lead attorney calls me and says, "By the way, where did you go to school?" and I said, "I went six months to the University of Miami." And there was this long silence. And he says, "It just goes to show that nothing beats just intelligence."

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Lesson learned: Use your head, as well as a professional you trust.

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