Being wealthy is not about having money, it’s about having options.
- Chris Rock
It’s popular to harp on celebrities who have blown all their money (Lindsay Lohan, anyone?), so I’d like to dedicate a post to commending an unlikely hero of smart money management: comedian Chris Rock.
Raised in a working-class neighborhood of Brooklyn, Chris Rock rose to fame in the basement comedy clubs of New York before taking the television and film world by storm. He hosted the Academy Awards, released four bestselling comedy albums and held roles or cameos in 37 movies.
His success earned him millions of dollars and the opportunity to be heard by fans around the world. He puts his money where his mouth is — and his mouth where his money is.
What’s so remarkable about Chris Rock?
1) He knows the difference between rich and wealthy.
Rock defines this as the difference between being a highly-paid employee and being the company owner:
“Shaq is rich. The guy who signs his checks is wealthy.”
2) He knows money is for opportunity, not a flashy lifestyle.
One of my favorite quotes about money — the best line that summarizes Afford Anything’s lifestyle philosophy — comes from him:
Being wealthy is not about having money, it’s about having options.
If you’re chasing money for the sake of buying a bigger house and a nicer car, you’re missing the point.
If you’re cultivating wealth so that you rule your life — so you’re never stuck in a job you hate, so you can launch that cupcake business you’ve always dreamed about, so you can spend a year volunteering with lion cubs in Tanzania — you’ve got options. That’s the whole point.
3) He devotes his wealth to helping others.
His wife runs a nonprofit salon that gives free hairstyles to women exiting welfare to re-enter the workforce. They’ve been married for more than 15 years and live in a quiet New Jersey suburb.
4) He preaches about the dangers of debt.
He’s currently working on a documentary entitled Credit is the Devil.
He told Reuters News Agency that he was inspired to make this movie because he sees that when people are in debt, they’re forced to make bad choices:
You can trace almost every bad act in this country and the world to people’s financial status at the time.
And while he’s not known for being religious, he starts sounding like his grandfather — a preacher — when talking about debt:
Credit and debt is the root of all evil.
Of course, he wouldn’t know from experience. Rock says he’s never been in debt:
I’ve been lucky. I made money early on, and I don’t spend.
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Sources:
Men’s Health magazine, The 20 Smartest Things Said About Money
Reuters News, Chris Rock sets comic sights on devilish credit
Photos courtesy Rolling Stone magazine and Babble.com
It is inspiring to know that some celebrities have their heads screwed on right. You typically only hear about all the ones that declare bankruptcy or evade taxes.
Like they say – money isn’t the root of all evil…the lack of money is the root of all evil.
This is what we need! More celebrities making it “cool” to be responsible with your money!
I like that he and his wife live in a quiet suburb. Would that enough Hollywood celebrities do that, and perhaps we’d see less silliness…
I definitely did not know that behind the jokes & laughs, Chris Brown is such a grounded guy esp when it comes to money & finances.
I actually didn’t know this about Chris Rock! Now I admire him even more! It’s pretty amazing that he has lived his whole life without debt. Maybe some other celebs should be hanging out with him more often…. learning how to spend only what they earn.
By the way, thanks for dropping by my site! Always appreciate the comments!
He’s a smart cookie, that Chris Rock. I’d like to think we’d all be that grounded with that much money. But it takes a certain kind to pull it off. And his wife’s business sounds wonderful. Thanks for sharing this story!
Finally, a celeb we can actually be proud of! Why can’t the news talk about that and the non profit work they do instead of who got hammered and a DUI that week.
I also didn’t know that Chris Rock was good with his money
Now I like him even more. There are wayyy too many celebrities out there who are making it “seem cool” to be frivolous with your money.
I think media has such a large role to play in developing the way we think about money.
Ain’t talkin’ bout rich…I’m talkin’ bout wealth! I don’t think any other celebrity could deliver these kind of powerful (but essentially boring) words in such an entertaining way. I think it’s important to slap people with some stealthy knowledge once in a while. The people reading investment books already know the things they need to know. Entertainment can be an excellent way to reach out and educate people and Chris Rock does an excellent job of this.
@Ash – I was talking today to someone who said that you can open any formal Personal Finance textbook — the kind that professionals read when they’re trying to get certified — and learn all this same stuff. The challenge in being a financial educator is saying it in an entertaining way. Looks like Chris Rock is a great teacher!
I have always thought of Chris rock to be a very politically intelligent comedian. Bill Mahr and the late George Carlin were the same. They could get a very educated message out and entertain at the same time. That’s very hard to do!
@Lexi – I love “intelligent humor” like the type that Chris Rock and George Carlin put forth.