Unfortunately, Shannen Doherty, the actress from 90210 fame died at age 53 from breast cancer. The ‘Beverly Hills, 90210' and ‘Charmed' star was first diagnosed with breast cancer in 2015.
“It is with a heavy heart that I confirm the passing of actress Shannen Doherty. On Saturday, July 13, she lost her battle with cancer after many years of fighting the disease,” Doherty's longtime publicist Leslie Sloane confirmed on Sunday, July 14, 2024.
Doherty's death is a reminder that life is precious and fleeting. You never know what might happen, so don't forget to live every day as if it were your last.
If you have debt and children, please get an affordable term life insurance policy to cover them. Life insurance is an act of love for your children, and also for your peace of mind.
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Shannen Doherty's Income
As this is a personal finance site, let's review Shannen Doherty's income and expenses. In the divorce to Kurt Iswarienko, Shannen filed an income and expense declaration weeks before her death.
Shannen Doherty's income was $21,000 a month on average, but was set to decline dramatically once Charmed was taken off streaming on June 30, 2024.
“The majority of her residual income is from a television show called Charmed. However, Charmed will no longer be streaming on any major streaming platforms after June 30, 2024. As a result, Shannen’s future residual income will dramatically decrease,” Doherty's lawyer explained.
Shannen’s lawyer added, “Shannen is an actor. She enjoyed most of her success from acting prior to this marriage. As a result of her health issues, she is largely unable to work and has no future employment prospects. Today, virtually all of her income is residual income from acting work performed prior to this marriage.”
Shannen Doherty's Assets
Shannen said she had $251,000 in the bank. She also had $1,880,000 in stocks/bond and money from her lawsuit with an insurance company over damage done to her California home.
Shannen Doherty's largest asset was in her $6 million Malibu home, where she had $3 million of equity after subtracting a $3 million mortgage. It's nice to see she bought a forever home with her earnings. There's nothing more comforting than having a nice home to spend most of your time in.
Doherty also revealed she had another $134,000 in a pension.
Shannen Doherty's Expenses
Doherty's monthly expenses totaled $53,000 and included $20,000 for her mortgage, $3,600 in property taxes, $4,000 in maintenance and repair, $1,348 on eating out, $1,446 on laundry and cleaning, $1,600 on clothes and various other expenses. She said she owed $150,000 on an SBA loan and another $170,000 owed to her divorce lawyers.
As you can see from Doherty's expenses, homeownership is her main expense. And based on her income, she was living beyond her means, especially with her income set to decline. Hence, it's important to buy a house following my 30/30/3 home buying rule so you don't feel financially stressed after purchase.
The high income that you earn now will unlikely last forever. As a result, you might want to pay cash for your house, or cut expenses before such a decline in income.
Doherty And Ex-Husband's Average Annual Earnings
“During marriage, particularly in the later years of our relationship, Kurt earned several million dollars per year. He has made a name for himself in his industry,” Doherty said.
She added, “Kurt’s average annual earnings for the last three years of marriage was $672,916. My average annual earnings for the last three years of marriage was $259,708.”
“My monthly expenses exceed $54,600. In 2023, my medical expenses alone were $21,640. Because I have not worked this year, I will no longer be eligible for SAG Health Insurance and this number will dramatically increase,” she said.
She continued, “While I have been unable to work, incurring exorbitant medical expenses not covered by insurance to undergo experimental treatments in hopes of prolonging my life, Kurt has been utilizing the airplane, spending thousands of dollars at medical spas, jewelry stores, Gucci, and on flights for his “agent”, while simultaneously claiming that he has insufficient funds with which to support me.”
Health Issues Can Come For Us All
Please enjoy life to the fullest. Live within your means and spend down your wealth so you don't die with too much. Please get life insurance if you have dependents. It's the right thing to do to protect them. The relief you will feel after getting life insurance will be worth far more than the premiums you'll pay.
If health issues don't get you, maybe an unfortunate accident will. Shannen Doherty died at the time when Trump almost got assassinated. One inch to the right and Trump would have been dead. You just never know what might happen.
I'm 47 years old today, which means my children will be 10 and 13 if I were to die at Shannen's age. I cannot imagine the heartbreak for us all. So I plan to continue being a full-time dad to them, eating and exercising right, and enjoying every day that I have left.
To Your Financial Freedom,
Sam