5 Signs That Your Financial Advisor Wants You To End Up Like Nicolas Cage

By now you've probably heard that actor Nicolas Cage, star of numerous Hollywood blockbusters, including Gone in Sixty Seconds and Leaving Las Vegas, has run into a spot of financial trouble lately, with his ex and baby mama Christina Fulton recently suing the actor for 13-mil and he reportedly has several homes facing foreclosure.

Now, nobody thinks Cage is a dummy, so how does a smart guy who's made millions end up with money trouble.

1) Bad financial advice: now the market's been pretty bad for a lot of people over that past few years, so your portfolio might not be what used to be. You hire what you think is a professional, and end up with someone that just costs you money. Cage is currently suing his former accountant Samuel Levin, claiming that Levin's advice ruined him. It seems like celebrities always have people around them that are just out for themselves. Ask Elvis. Or even a flying Elvis impersonator.

2) Taxes, schmaxes: Let's face it, dude, you've just have to pay your taxes. Cage reportedly owes the IRS more than six million bucks. If you make money, you have to pay taxes. Unless your dad's brother is a kind-hearted guy who goes by "Sammy", Uncle Sam is going to get paid. Ask Willie Nelson.

3) Keep all your eggs in one basket: Keeping a diverse portfolio can help protect you against downturns in any one sector. For Cage, the problem came from betting too heavily on real estate. If you own a bunch of houses and the occasional castle and the housing market takes a beating, you can end up losing all over. And it didn't help market value for Cage when one of his places in New Orleans turned out to be haunted. Ask Scooby Doo.

4) Missed opportunities: Apparently, one of the first things Cage did after hiring his advisor was sell his collection of classic comic books. They might have been worth more if he'd held on to them until after the last Batman flick. You might not have a roomful of collectibles that you can sell at just the right time, but a good advisor might help you identify the next positive long-term trend. If you lost money when the economy was flying high, a downturn can wipe you out. Ask ??

5) Overspending. Okay, maybe Cage can't blame all of his financial troubles on the advisor. No matter how much money you earn, you can always spend more, right? Most people don't end up with more than one home in foreclosure because they only buy one house at a time. The good news for Cage is he now has something like 15 houses and an island he can sell. But anyone can be guilty of overspending and racking up a little too much debt. Ask Mike Tyson.

So how do you find a financial advisor you can trust? Go to AdvisorWorld.com and let us help you find a licensed, Trusted Advisor from your area. Because having bad financial advice can lead to financial ruin. Ask Nicolas Cage.