Whoopi Goldberg, the celebrated EGOT-winning actor and comedian, surprised fans with a candid revelation about her financial realities while co-hosting ABC’s The View. Despite a net worth estimated at $30 million by CelebrityNetWorth, Goldberg admitted during a recent episode that financial pressures keep her working.
“I appreciate that people are having a hard time. Me too. I work for a living,” Goldberg shared. “If I had all the money in the world, I would not be here, OK? So, I’m a working person, you know? My kid has to feed her family. My great-granddaughter has to be fed by her family. I know it’s hard out there”, according to Moneywise.
Her honesty highlights the reality that financial strain isn’t exclusive to everyday Americans. Goldberg, 69, said she’s still working to pay bills for herself and her family, a sentiment that reflects a broader trend. According to the Pew Research Center, roughly 11 million Americans aged 65 and older are still employed as of 2023. This aligns with a LiveCareer survey showing 61% of U.S. workers fear retirement more than death, with many considering delaying retirement for financial reasons.
Even high-income earners aren’t immune to these pressures. PYMNTS Intelligence reports that 62% of U.S. consumers live paycheck to paycheck, including 36% of those earning over $200,000 annually. Rising costs and economic uncertainty have even led affluent families to shop at discount retailers like Dollar Tree and Five Below, as noted by The Wall Street Journal.
Goldberg’s comments underscore how financial obligations can push individuals, even those with successful careers, to continue working beyond traditional retirement age. Her story mirrors those of other prominent figures who’ve faced financial challenges, such as director Francis Ford Coppola, who filed for bankruptcy three times, and boxing legend Mike Tyson, who earned $400 million before filing for bankruptcy in 2003.
To combat financial pressures, experts recommend proactive budgeting strategies. Ramit Sethi, host of Netflix’s How to Get Rich, advises the 50/20/30 rule: allocating 50% of income to necessities, 20% to debt repayment and savings, and 30% to discretionary spending.
Goldberg’s openness offers a relatable perspective, showing that financial pressures affect people across all income levels, and planning is essential for everyone to achieve long-term stability.