“63-acre ranch.” LOL.
He's owned it for 36 years? I hope he's not still making mortgage payments. Is the issue just property taxes?
Also, some people have "a ranch" which actually generates a profit. If your ranch just sucks money out of your bank account, then you may be doing it wrong.
His wife has been begging for him to retire.
> Isn’t this where a reverse mortgage, like the one he is a spokesperson for, comes in? <
Ha, good one. You of course lose equity when taking out a reverse mortgage. Plus the loan comes due when pass away or leave your house. “Leave your house” could be for as little as 30 days. So let’s say you’re hospitalized for an extended period of time, more than a month.
When you return home, you’ll find a letter demanding the loan be repaid. Seniors who don’t have the ready cash are often forced to sell their homes. It has happened.
Maybe Tom doesn’t want to take that chance.
If a major box office earning actor for 50 years stands to effectively “lose his house” if he loses his current job, at 79 years old, well, he’s bad with money and has not lived within his means. I think less of him upon hearing that. No excuse.
His plush 63-acre ranch can become a 63-acre marijuana growing operation for the cartels.
Read in one of the comments that he supports his daughter in her hobby - competitive equestrian. She attends events with Bill Gates’ daughter - costs millions.
There was an article on TMZ explaining that statement was more a reflection of his desire to keep working than fear of literally losing the ranch. It also went into some detail on the actual financing if anyone is interested.
I say that because the RESIDUAL MONEY from reruns and streaming download pay services alone over the NEXT 10 years is a very handsome monthly amount that will be paid out to him and the other participating series actors.
How can Selleck not have a 63 acre ranch paid for?
If you watch Blue Bloods it is clear that Tom has health issues also.
I seriously doubt he’s worried.
Translated:
Tom Selleck has zero business acumen.
Welcome to the world of Bidenflation and California taxes, Tom.
If you have to pay taxes on land, you don’t own it; you rent it.
Tom’s ranch used to be Dean Martin’s hideaway.
He was having serious water problems a few years ago trying to keep his avocados going.
He really should bail out of that foul ruined state.
Somebody may be pulling the reporter’s leg.
Tom Selleck reverse mortgage jokes and pranks write themselves.
He can come live with me. 😉
He is worth $45 million. If he sells the 63 acres he would have $100 million +.