How these ’80s child stars lost so much of their money

The following article contains discussions about addiction.

Life as a child star is not easy. Beyond what unlimited fame can do to a child’s developing brain and ego, there is a curse that comes with bringing home the bacon at an early age. Child stars can often earn far more than any of their adult family members. While this may look like winning the lottery to some, for these talented youngsters it means learning financial responsibility from an extremely early age. Unfortunately for many of them, this is often a lesson learned only after a large loss of money, either due to their own spending or perhaps their parents’ spending habits.

The fact that fame is fleeting only makes things even more difficult. Some child stars are able to keep up with the ebb and flow of Hollywood, growing up in the industry rather than outgrowing it. Unfortunately, for others, fame and fortune often have an expiration date. With crippled outlooks and a lack of steady income, many child stars of the 80s lost so much of the money they earned in childhood. Whether they were able to come back from it is another story entirely.

Corey Haim made waves as an ’80s teenage heartthrob. He made his way in the industry and starred in several films including “Silver Bullet”, “Murphy’s Romance” and “Lucas”, to name a few. It was his title role in “The Lost Boys” that propelled him to a whole new level of fame. What followed in his life was a downward spiral of darkness, depression and drug use that would eventually end his life. Haim’s addiction took him in and out of rehab for most of his life.

Despite Haim’s illustrious career and growing success as a child star, he died with very little money to his name. The actor sadly passed away at the age of 38 in 2010 after a long battle with drug addiction and financial problems. In 1996, he withdrew from the film “Paradise Bar” due to his heavy drug use. He was sued by the film’s insurance company for not disclosing his addiction as a pre-existing condition on his medical form. Soon after, he filed for bankruptcy. Desperate for money, he even went as far as trying to sell his hair and teeth on eBay. After that he lived with his mother until he died.

If you or someone you know is struggling with addiction issues, help is available. Visit Substance Abuse and Mental Health Services Administration website or contact SAMHSA’s National Helpline at 1-800-662-HELP (4357).

One of Corey Haim’s close friends was Corey Feldman, star of “Gremlins,” “The Goonies” and “Stand By Me.” The two rose to fame together in the 80s, playfully dubbed “the Coreys” by the media at the time. They appeared in seven films together, leading Haim and Feldman develop a close but complicated friendship. Feldman began his career appearing on various television shows, including “Mork and Mindy,” “Eight is Enough” and “Cheers,” before becoming a teen icon.

Haim and Feldman rose up the ranks of 1980s teen heartthrobs together, but unfortunately that wasn’t the only similarity the two actors shared. It seems that Feldman couldn’t avoid the child star curse by going deep into substance abuse and financial problems. Feldman was able to win his battle with addiction and boast 30 years of sobriety, but his money problems persisted. After breaking away from his parents at 15 due to intense abuse, he discovered his acting fortune had dwindled to just $40,000 – miles away from what he had actually earned at the time. Years later, after divorcing his wife, Feldman’s court documents revealed that he had unpaid taxes and a large credit card debt.

If you or someone you know is struggling with addiction issues, help is available. Visit Substance Abuse and Mental Health Services Administration website or contact SAMHSA’s National Helpline at 1-800-662-HELP (4357).

Before her years on the hit comedy “Family Matters,” Jaimee Foxworth had been modeling and acting since she was 5 years old. “Family Matters” began airing in 1989 and ran for nine seasons, but Foxworth only contributed to four. The actress was known for playing Judy Winslow, the youngest of the Winslow siblings. But when Steve Urkel was introduced, Judy had less and less to do and was eventually written off entirely. In the later seasons of the show, the family acknowledges having only two children – as if little Judy had never existed.

Foxworth was never able to return to relevance after she was written off. She formed a short-lived girl group with her sisters, SHE, but it had little success. The actress eventually joined the adult industry as it was quick money. This drove her deeper into addiction after the sudden end of her childhood career. After the birth of her son in 2008, Foxworth began her sobriety journey. Although she no longer deals with addiction, she never recovered the money she earned as a child star, and her career has not experienced the level of success “Family Matters” once offered her.

Despite Gary Coleman’s health problems that followed him throughout his life, he made his way to stardom by appearing on the show “Diff’rent Strokes”. The show, which aired from 1978 to 1986, gave Coleman other opportunities to continue building his legacy. He went on to appear on “The Jeffersons” and “Good Times,” and even had his own Saturday morning cartoon, “The Gary Coleman Show.” Despite being one of the highest paid child actors of his generation, Coleman later in life ran into financial problems.

Coleman successfully sued his parents after discovering his earnings had dropped to just $220,000. They reached a $1.3 million settlement, which was certainly not enough to offset the estimated $18 million Coleman earned while working. Due to his numerous health issues, Coleman eventually filed for bankruptcy in 1999. The “Jimmy The Kid” star sadly passed away in 2010 after suffering a brain hemorrhage caused by a fall. At the time, he had very little left to his name.

Willie Aames grew up and rose to fame on the show “Eight is Enough,” earning up to $1.5 million a year while filming it. The popular series ran from 1977 to 1981, but Aames’ stardom didn’t stop there. He went on to star in the ’80s sitcom “Charles in Charge”, the film “Zapped!” and then voiced a character in the animated series “Dungeons and Dragons”. Decades later, the public became aware of Aames’ financial situation when he appeared on the aptly named VH1 special, “Broke and Famous.”

In his episode, Aames described how he owed more than $260,000 on his home, which was in foreclosure at the time. After a series of “bad deals and investments”, Aames was officially stone cold. What’s more, he also described his estranged relationship with his ex-wife and daughter, who at the time hadn’t spoken to him in nearly six months. The episode appeared to be a complete embarrassment for Aames as he worked with a financial advisor to gather enough money to survive. Ultimately, he turned his life around. After being “pretty much homeless,” the child star landed a job as a cruise ship director and made her mark as another 80s child star leaves fame for normalcy.