Celebrities savvy with savings

Intelligence goes a long way

Charles Grodin

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."


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

Show Bankrate's community sharing policy
          Connect with us

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Ask Dr. Don

Quickest path toward $1 million?

Dear Dr. Don, This question involves how best to make for a better life for my family. How can I make a one-time investment of $5,000 grow into $1 million or more over 60 years? One of my broader goals is to encourage my... Read more

Partner Center

Connect with us