Fame & Fortune: Phyllis Diller
Here's a twist: She did stand-up for financial stability
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Bankrate: You starred at Carnegie Hall five years after you started?
Phyllis Diller: That's
why I said, it was an incredible rise. Bankrate:
I would think headlining Carnegie you were not only making a good living, but
that's the point where you were rich. Phyllis
Diller: I was able to buy a house and pay cash. That was my first big goal,
and once I got that, everything started smoothing out and getting better, a good
living. From there on out, it was a good living. Bankrate:
Once you were at that point, were you a big investor, or were you just kind of
enjoying your money? Phyllis Diller:
Only recently did I have any understanding of money at all. I did very poorly.
Now that I'm 90, I know that the best way to double your money is to fold it and
put it in your pocket. I was throwing it around like a drunken sailor. I was enjoying
it. Bankrate: Buying lavish things? Phyllis
Diller: At one time I had eight homes, and that was a mistake in itself,
but the biggest mistake was the fact that I sold them. I didn't know at the time
that to sell those homes was very bad advice. Bankrate:
The people advising you didn't have your best interests at heart?
Phyllis Diller: Not at all.
It had to be like Hope with that darling brother George, looking
out for everything. Right now, Hope is the largest landowner in
California. Do you know how important that is?
Bankrate: Bob Hope's estate
is the largest landowner in California?
Phyllis
Diller: Yeah. Wow. But you see, he started long ago doing the right things.
Money creates money if you take care of it. Bankrate:
That being said, did you ever have any financial trouble after your initial success?
Phyllis Diller: I never gave it
a thought, because I really never knew about money -- how to use it, what to do
with it -- other than to spend it. And that's not right. It should be invested.
You should have some kind of knowledge about money, but I was frankly bored with
the whole idea. Now that I'm sitting around here in my old age, I even read the
financial page. But I never looked at anything like that. I was very busy writing
funny jokes. Bankrate: So when did
you actually start to make investments?
Phyllis Diller: Recently.
I have a broker -- whaddaya know?
Bankrate: When you say recently
...
Phyllis Diller: Last five
years. I never even considered ... well, I did have investments,
but they all got sold, one way or another. I've had investments,
but somehow they were not mine alone. You own part of a bank, part
of a building. Like that. But of course, all those homes were mine
alone, and I should have hung on to them.
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