The millionaire producer is generous when it comes to lavishing her with gifts. Lala also let us know on Monday's Vanderpump Rules reunion just what her man pays for in her life. Let's see, there’s the private jet (which the rest of the cast seems to have figured out is a pretty sweet way to travel), her rent (with a cap that she goes way over), a car lease, clothes, jewelry, bags, shoes, dinners, and trips (like her recent one to Cannes).
According to Lala, she’s responsible for the insurance on her cars and her rent after she hits her cap (whatever that is).
But she's drawing criticism from some of her fellow SURvers: Scheana addressed Lala’s source of income, saying the gifts and cash are meaningless because they’re all “materialistic things.” But Lala fired back. “Everyone can sit there and be like, 'Her man does this; her man does that.' It's like, 'OK, you're just mad 'cause your man doesn't do that,’” she said.
Lisa weighed in too, she loves Lala, but made the distinction that she herself works hard for her fancy things, while Lala, well, not so much. “She's not exactly the quintessential feminist if she's talking about, 'Well, I give a BJ, and I get the jewelry,’” Lisa said.
Lala’s response: “Keep in mind I am blowing my boyfriend. I’m not blowing some random guy for the jewelry. Come on!”
But what’s the long term goal here for Lala? Well, if she’s wise, she can accumulate some serious wealth from gifts, and set herself up with a nice nest egg of cash or an apartment with no mortgage, says Douglas Boneparth, CFP, founder and owner of Bone Fide Wealth, based in New York City. As an added bonus, he also loves Vanderpump Rules.
“The thing about Lala is she’s outright owning it,” Boneparth says of Lala’s many gifts. “I gotta give her credit saying where her sources of material wealth are coming from. The things she was mentioning [on the reunion] are all material things, there’s the lease on a car, but certainly bags and shoes she owns those assets. And as long as is she owning them, they are sources of income or a way for her to accumulate wealth.”
Boneparth says that if Lala is clear about her longterm goals, the presents can work in her favor.
“You and I work our jobs to pay bills, save, and achieve goals, what does all this mean for her achieving her goals?” he asks. “Are they just things, or are these actual financial resources she’s using to gain financial independence?”
In order to create some cash for herself, Lala would need to understand what her goals are, and what she’s trying to accomplish. Boneparth uses a Birkin bag, for example.
“How does she use the things she’s getting? If she’s getting a Birkin, she can treat it as something to wear around or treat it as an investment, sell it for money, or sell it later [new] after it’s increased in value.”
“If someone wants to provide you with a gift, exactly what I’m saying is take the cash,” Boneparth advises. “It’s a bit insulting to the person giving you the gifts to turn it around for the cash, but it depends what her goals are. Does she want to start a business, is she thinking long-term?”
Boneparth says in addition to her boyfriend's help, Lala (and the rest of the Pump crew) should run, not walk, while attached to Lisa Vanderpump’s brand.
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