How Do You Become 'Broke and Famous'? Just Ask Willie Aames

By Marc Schneider Posted Nov 4th 2009 05:51PM

So you think you've had a rough couple of years? Try comparing your recession story to the one belonging to Willie Aames, the once-flush 'Charles in Charge' actor who squandered his money, couldn't find a job, went bankrupt, lost his house and witnessed the total collapse of his family. But Aames, 49, blames only himself for his downward spiral from curly-haired hearthrob on 'Eight Is Enough' to the short-fused grump on 'Celebrity Fit Club' a few years back. "It's me," he tells PopEater. "I did it to myself."

Aames resides in Olathe, Kansas, outside Kansas City. By March, years of living beyond his means had led the former TV star into poverty. "No heat, no food, no car, no water, no phone, no nothing," he says. "There's no question that was the lowest point of my life." When you're broke and famous, what better way to help lift yourself up than a TV special? 'Broke and Famous: Willie Aames' (airing Thursday night on VH1) was that opportunity. Life coach Sarano Kelley spent seven days giving Aames a wake-up call to get him back on track financially. In the show, Kelley succeeds in getting Aames cash flow (yard sale), a job (woodworking) and a renewed relationship with his estranged daughter. Full interview after the jump.

Aames was inspired to help others in similar situations, so he is studying to be a financial adviser. In our full interview, Aames talks about the "painful process" of tackling his problems in public, explains how "bad habits" cost him dearly, rules out a return to Hollywood and talks about the "happiest days of my life."

In 'Broke and Famous,' you look like a broken man ...

I think what people will see is a man in pain. When they approached me to do the show, they warned that it was going to be a painful process. I was definitely ready to be the most vulnerable and honest I could be. I just had no idea where I'd end up a year ago.

You did two editions of 'Celebrity Fit Club' with varying degrees of success. Why do another self-help type show?

First off, there was the opportunity to make some money. When your bank account is at negative $60 and you've been sleeping in parks and parking garages and you don't have electricity and you don't have heat and no way to get to a job ... you can't be picky. Secondly, when people comment on celebrities who lose their money, it's so easy for the comment to be "they spent wildly, they're out of control, they have no regard for the future." And that's not really accurate. That's not the thought process.

We know why you're 'Famous.' How did you go 'Broke'?

There are so many events that people aren't aware of when talking about celebrities with money problems. It's up to whoever's in the position of fame, in this case me, not understanding how it all works. You don't really understand that 50% is gonna be gone in taxes. Fifteen percent to a manager. Ten to an agent. Five to a business manager. Well, add it up ... ya may have made $1.5 million in a year, but you sure didn't realize it. After all other expenses, you're looking at like $200,000, which is still a lot of money but not for that lifestyle. Of course there's the drugs and alcohol and partying and just living the wild lifestyle. That was there.

There had to have been some bad investments along the way.

When I was 19 or 20, I went to my accountant and told him I wanted my money invested. I took his advice. That investment was disallowed by the IRS about six years later and because it was a limited partnership, I could not get out of it so it went to court. The other parties decided to fight, so instead of being able to move on, I was locked in this thing for 17 years. So my $43,000 investment became hundreds of thousands of dollars in attorneys fees and tax liabilities. I did the right thing -- I was a kid. The advice, from one well-intentioned person who was not qualified to give the advice, gave it and I took it. But I never really recovered from it.

What did Sarano and the show teach you?

I learned I was completely ill-equipped to handle money of any kind, let alone large sums. Nobody explained to me how these things work. This show really woke me up to those life-long habits that it didn't make how much money I was going to make, I was never going to out-earn my bad habits.

What was the hardest part about doing the show?

The most difficult part was dealing with the shame. I was trying to earn a living, and it wasn't just the entertainment business. I was sending out my resume for ANY job for over a year and could not get one. And then it all came crashing down where I had to file for bankruptcy. Then I went through a divorce and the house was foreclosed on. The shame and lack of self-esteem that comes with that is intense, let alone having it splash across the news. I don't blame anybody else. It's me. I did it. I'm the one who didn't take the time to learn. When you realize it was your lack of diligence that cost you your wife and daughter ... That's so painful.

What kinds of opportunities have arisen?

After the show, Sarano put me in touch with some mentors to help me learn how to handle my finances and really move things forward. Soon, there were people who wanted me to go out and be a speaker and talk about the recession and what happened to me. I couldn't understand why. Just look at where I was even in this show! Why would anyone listen to me? While the money was tempting, I knew it was a huge mistake. I hadn't learned anything yet. Basically I'd just be a poster boy for "Don't Be Me". Why would that have any value?

You're studying to be a financial adviser?

As I began talking about it more with my mentors, it became clear that if I really wanted to take my past mistakes and use them for good, I had to try and protect other people from ending up in the same position.

Do you miss Hollywood? Do you consider getting back in the game?

No. I don't miss it. It's not what it used to be. There are so few opportunities to do scripted material that really what you end up doing is reality.

You were involved with 14 network shows and played some great characters, but Buddy Lembeck stands out for sure.

You know, 'Charles in Charge' were some of the happiest days of my life. My only goal on that show was to make Scott Baio laugh. It didn't make any difference where or how, that's what I lived for. Nobody loves Scott more than I did. I was so fortunate to have that many shows ... but to end it with something like 'Charles in Charge' was just brilliant. I have nothing but great memories about that show and really, all of the shows I was on.

When's the last time you spoke with Baio?

I've kept in touch with some of those old friends, but in the past two years ... not so much! (laughter) Being famous hasn't been a lot of fun lately, have ya noticed?! About a year ago I did get a really nice note from Scott that said "Willie, I'm sorry you're going through so many troubles." But I've purposefully kept a low profile lately. I don't go out much at all. All I really do is study. I study all day until my brain is mush, and then I go to bed and get up and do it all over again.

Tags: broke and famous, BrokeAndFamous, willie aames, WillieAames

Comments

(111)

Thursday 05 November

By Drew

Vote down Vote up Report this

Well Egor I'd LOVE redirect the comments away from Willie Aames and redirect them towards you, EGOR... now, all the haters like Egor come out of the woodwork!

Yo Egor, put down the cheap bottle of 40 and get a life, you sociopath!

Wednesday 11 November

By michael horgan

Willy is my cousen could you please have him get hold of Me an I'll help him out I've been in the same spot An now I own My own company Thank you

By victor

First of all you were never that famous that you couldn't look after your own funds, you dont spend more than you make so tought luck buddy

By me

hmmm let me think for a second do i really care hmmmmmmmmmmmmmmmmmmmmmmmm HELL NO im broke im not crying for everyone in the world to see hes doing it cause he hopes some one will read his story and give him food heat MONEY wish i was so lucky

By mj

HEY there willie it's time to pick your self up and brush yourself off.You can't change the past,so now it's time to shake thing's up.Most people try to live beyound their means you are no different.try living on 800.00 a month.That's what people on diability do .if they can- so -can you.. I'm sorry you lost everything ,but at the same time other people do it everyday ...

Sunday 08 November

By Rodney Burke

Poke it with a stick, then we'll eat it!!! Sounds like a TV series..., I was $72,000 in the hole, some how came out of it, now after starting over, I'm nearly there again, invest, ha, I've invested in staying alive is all.

By amanecer

You know, I used to respect Willie Aames for standing up for his faith and when he played Bibleman. Then I saw him on Celebrity fit club and how he cussed like a sailor, and not just a few words. It went on forever. I was so dumbfounded that I couldn't believe that someone who confesses to be a christian could act like that. I know we all make mistakes but he had no remorse for what he did. After that I wouldn't let my kids watch him. Obviously God still isn't important to him because not once does he give God any mention. I wouldn't watch his new show on TV if you paid me. Luckily I still do have that freedom. None of us normal people have advisors and we dont make millions, and yet, we somehow have the common sense to learn to balance a checkbook. He will just be in the same boat when the tv season is over and he doesn't have someone to coddle him and hold his hand for anything. Take some responsibility Willie and grow up and learn how to deal with real life.

By K.C.

Willie and Scott should get together and do a show. Maybe an extention of Scotts reality show or another sitcom. They were successful once and could be again. Both of their careers could use a boost and they could help each other have a future.They already proved they are actors and have the chemistry that all great shows need to rise to greatness.

By sealtheborder

Life coach gets him a job woodworking????? Why hes getting a boatload of cash for the show....oh yea he has to do something to make the show interesting....like woodworking....ummmmmm hey bibleman, I think god wants you to live under a bridge.......

By LeAnn

So much for Bibleman, huh? Not even a mention of him. Oh, well,
it's probably best that he's forgotten. We watched the show for a
couple of months and then stopped several months ago because our
3-year-old son had started pretending to be Bibleman as an excuse to
hit and "shoot" people. He still does this to this day. Thanks,
Willie.

By stara

scott baio is still hot!

By rr

what alot of crap if the guy did this to be like this its his fault there are many people who havent had the chance to make money like that afre we to feel sorry for this there are more poverty stories worse then this,why cant his buddy from the show help him out, surely letterman or someone can put him on the air and give him money,or is the story too low to put on the air

By teri

give me a friggin break erob. you sure this isnt arod. i got sick in my late 30s and was bedridden for years not due to anything i did when you make a lot and spend it on drugs and hookers and god knows what else and put the blame elsewhere i mean really he is too old to blame youthful discretions. live modestly like the rest of us

By learning the hard way

Yep, i truly understand...My credit turned so bad, i couldn't get $100 loan, yet i wasnt "in debt" enough to file bankruptcy, I go to college, take care of my fiance's mom and my daughter and cant afford to move out, i also work full-time...funny no one sees this side of me at work they think i got it made! never realized how hard it is in the real world! they really need to make it easier for students in high school to learn more about protecting their credit and finances instead of drilling them about kids and drugs... if most realizes what being in bebt will do, hell they'll have the money for a family some day! well, slowly but surely im learning, from beneath the ladder im starting to climb. I too don't want my daughter to see this, this is not how i was raised... finally done getting garnished for a little $1500 hospital bill!

By justbill

Guess that Bible Man gig didnt work out!

By laprns

This guy will say and do anything to keep his name in the paper or to be on television. He used, abused and misused his co-stars on fit club. If he is broke then he needs to get a job and go on with his life, not seek publicity.

By Scharfschutzen

I think he's demonstrated his lack of trying to 'stay in the spotlight', I think his story was put on us by his friends, it's good to see he's not totally fotgotten by his friends, and with his trying something like finacial-advisor, it's certainly not staging a comeback, and for his excepting fault...thanks for the years of helping us laugh...,

By jane

You know, this is the first time I've ever seen a celebrity down on their luck blame noone but themself. It's refreshing and I actually feel bad for him. I wish him well and hope things pick up for him. Too bad he doesn't have a Bavarian castle to sell.

His series Bible Man is pretty good. Check it out sometime.

By garydurham

God speed Willie, it is so easy for the haters to sit back in judgement and make fun of someone who achieved success. I want to see the "perfect people" try walking on water, until that happens, don't judge!

By Maria

Another stupid reality series about another "has been" Like MC Hammer, Bobby Brown, and all the people on that show where all the "has beens" lived together (the guy from Austin Power, Jane Wiedlen (love her) and others, can't remember the name)
Anyway, I'll do a show if they pay me $50,000 a year and I bet my life is more exciting!

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