Jimmy Osmond says bad management cost family $80M

Money Mismanagement Cost Osmond Family $80 Million

The youngest member of the singing group, The Osmonds, is speaking out about the unfortunate mismanagement of money that caused the performers to lose an estimated $80 million dollars. Looking for the silver lining in the financial cloud, 50-year old Jimmy Osmond reveals the fact their father/ manager made bad choices when appointing money managers for their earnings actually turned out to be a blessing in disguise for the group.

Osmond says that losing such a vast sum of money forced each of the family members to refocus on what was really important in their lives in addition to taking steps to learn how to manage their earnings in smarter and more practical ways. In Osmond’s opinion, having a massive amount of money that allowed for the use of such extravagances as private jets, made the family members feel more arrogant and easily lose sight of what was truly important about being successful. He admits that starting over proved to be a “wonderful thing” for the lessons that it taught The Osmonds and the attitude adjustment it provided about money and what it can and cannot provide. Despite having cause, Osmond’s father never sued their financial managers for fraud.

on the web
http://www.dailymail.co.uk/tvshowbiz/article-2550752/Losing-60m-best-thing-says-Jimmy-Osmond-Pop-star-says-loss-taught-brothers-manage-money.html