Ben Affleck and Matt Damon Sold Good Will Hunting for $600K and were soon broke

[Palumboism]

Affleck told Barrymore that when the pair sold their breakthrough 1997 Oscar-winning film, "Good Will Hunting," he felt like he would "never have to work again." That is until he and Damon spent all their money.

"We sold it for $600,000, we split that, $300,000 each, and then the agents got $30,000 so we had $270,000 and we paid about $160,000 in taxes so we had $110,000, each bought $55,000 Jeep Cherokees and then had $55,000 left," Affleck said. "Naturally we decided to rent a $5,000-a-month party house on Glencoe Way by the Hollywood Bowl and we were broke in six months."


https://www.yahoo.com/news/ben-affleck-says-matt-damon-234500915.html

I wonder if this happens to actors just like athletes.  Thoughts?

[delon]

Actors and artistic people tend to skew right brained dreamer type personalities so can often lack prudence and financially responsible roadmap thinking. Also why they skew left politically ie. dream of what they think the world should be, rather than how it is and determining how to make the best of it from that base point eg. dealing with crime

Athletes genetic gifts tend to be bodily coordination rather than cognitive. Also getting all that money young doesn't help

In Affleck and Damon's case they are actually smart enough -but the key factor on them blowing it was they were still young, and so when they came into some money they did what young guys would generally do - likely wouldn't make the same mistake now

[obsidian]

Actors and artistic people tend to skew right brained dreamer type personalities so can often lack prudence and financially responsible roadmap thinking. Also why they skew left politically ie. dream of what they think the world should be, rather than how it is and determining how to make the best of it from that base point eg. dealing with crime

Athletes genetic gifts tend to be bodily coordination rather than cognitive. Also getting all that money young doesn't help

In Affleck and Damon's case they are actually smart enough -but the key factor on them blowing it was they were still young, and so when they came into some money they did what young guys would generally do - likely wouldn't make the same mistake now

They skew left because their bosses in Hollywood are left. If they go against the flow they don't get acting gigs. Remember Gina Carano?

If Hollywood bosses were rightwing you can bet your ass that actors and actresses would also be. They are basically cowards and not as courageous as they try to make themselves out to be.

[mops]

Why Modern Movies Suck - Modern Actors

[kreator]

Why Modern Movies Suck - Modern Actors

just by looking at this picture alone I'd love to go full ''Braindead'' lawnmover scene on them

[IroNat]

Affleck and Damon have done very well for themselves.

Damon graduated from Harvard by the way.

Affleck attended college briefly but never graduated.

[dunkin donuts]

160k taxes on 270k

[IroNat]

160k taxes on 270k

160/270 = 59%

Federal income tax 1997 36%
Self employment tax (Social Security & Medicare) 12% of limited amount of income
California income tax 9%

57% total

These are not actual tax rates from 1997.

Also these are individual rates.  They may have been incorporated.

[delon]

They skew left because their bosses in Hollywood are left. If they go against the flow they don't get acting gigs. Remember Gina Carano?

If Hollywood bosses were rightwing you can bet your ass that actors and actresses would also be. They are basically cowards and not as courageous as they try to make themselves out to be.

Sure it's not universal, hence the skew phrasing. There are a few outspoken exceptions eg. James woods, Gina, and some who did not speak up for fear of being cancelled absolutely, but for the most part the majority truly do believe the nonsense they frequently spout, look at Alyssa Milano and De Niro for example, they absolutely mean it

The very premise of acting is to escape into a fantasy world where you are someone else: that has greater appeal to a certain personality type. The ones that make it as hollywood stars just tend to have better cheekbones than most of the others that remain serving in restaurants year in year out

Certain vocations always draw certain people with certain personalities and brain wiring, actors/artists are no different in that respect. No knock on John Lennon as an artist but look at the lyrics for Imagine: utopian platitudes for the most part in relation to the real world we inhabit, a fact he even effectively partially acknowledges in the chorus

[Dave D]

What’s the question here, how long $110,000 should have lasted them? Or that 25 they should have had the financial understanding of a 45 year old?

Did anyone consider that these guys were 20 something and they assumed that would be making this type of money for life?

Also have they recovered from this financial mistake?

[Palumboism]

What’s the question here, how long $110,000 should have lasted them? Or that 25 they should have had the financial understanding of a 45 year old?

Did anyone consider that these guys were 20 something and they assumed that would be making this type of money for life?

Also have they recovered from this financial mistake?

This is true for almost everyone in Hollywood.  They get their first big break when they're in their 20's and think it will go on forever.  New expensive cars and homes soon follow along with the tax man and agents taking their cuts. 

[Mayday]

160/270 = 59%

Federal income tax 1997 36%
Self employment tax (Social Security & Medicare) 12% of limited amount of income
California income tax 9%

57% total

These are not actual tax rates from 1997.

Also these are individual rates.  They may have been incorporated.

Always interesting to see all the American taxes. Pretty brutal.

We pay 45% tax but then consider a V8 Dodge Challenger is US40k in America but costs US120k here.

[IroNat]

Always interesting to see all the American taxes. Pretty brutal.

We pay 45% tax but then consider a V8 Dodge Challenger is US40k in America but costs US120k here.

Aircraft Carriers, Nuclear Submarines, and F22/35s all cost money.

[Spike]

the craziest shit to me was when that DJ for Ellen Degenerate killed himself in a hotel up the street form his house


dude was married with kids - was like a producer or at least on permanent staff at ELLEN

and goes up the street in a LA QUINTA or something and just kills himself ??

[IroNat]

the craziest shit to me was when that DJ for Ellen Degenerate killed himself in a hotel up the street form his house


dude was married with kids - was like a producer or at least on permanent staff at ELLEN

and goes up the street in a LA QUINTA or something and just kills himself ??

Very messed up.

Who knows what was really going on with him.

Hollyweird can destroy you.

[Rambone]

Ellen could destroy anyone. I’ve heard she’s a horrible person. A Les Misérables which means miserable lesbian in French

[Hulkotron]

Gayer than posting a thread about Ben Affleck and Matt Damon