Why do celebrities end up being broke after earning millions

Because soon, new actress/actor come in, and they go out of business. They also become old, too. Many reasons.
      Answer1:They get it all of a sudden and dont know how to deal with it.Or they earn it young and spend it young.Or any one of many variations of these reasons!
      Answer2:Most of them go from being a "nobody" (you know.. like us) to huge riches, without ever getting the lessons on money management along the way. And most never learn it because theyre busy being famous while their accountant/manager handle the cash.So, to sum it up... the only thing they know how to do is spend it.
      Answer3:Did you ever end up spending all your allowance before the week was up?
      Answer4:Celebrities end up broke because they get too complacent spending loads of money, and when the money stops coming in, they either dont change their habits or all the bills and taxes eventually bleed them dry. drugs and hard partying also come into play.
      Answer5:Individual cases vary, but I suspect that for the celebrities that end up broke, its mostly the same reasons that those with lesser incomes end up broke - not carefully managing money, even to the simple point of not spending more than one makes.Having money does not automatically give someone wisdom, although having wisdom does generally enable someone to acquire money.
      Answer6:Most of them are uneducated and have never had the wealth that is suddenly thrusted upon them. They seem to have to buy, buy, and buy with no regard to the future. They are often robbed by unscrupulous agents and con men whom they erronously think are looking out for them. In a word, STUPIDITY. Thats what does them in.
      Answer7:They lose it because they just spend it all. They think it will go on forever, and then find out the hard way that it wont. So they dont invest any of it for later, when they are not working.Also, they dont understand the value of money. They get a few million dollars, but then they spend it on things that have ongoing expenses. That drives them into debt. Then, they are broke. Its easy come, easy go for a lot of people.