I recall his lavish 30th birthday party that had him riding in on a rented camel. I also saw him on an Animal Planet show having a ridiculously expensive aquarium installed in his mansion. How surprising that Mr. Peterson has a lower net worth than the dentist who came out of training with $1 Million in student loan debt? Not very.
The article highlights the fact that Peterson trusted the wrong people and that this led him to make some terrible financial decisions. He has outstanding loans where he owes millions. In fact, it looks like he owes more than he will make this entire season despite earning >$5 million over 2 years.
While a high-income can allow you to make some financial mistakes. It doesn’t give you a pass on math. If you spend more than you make – which is common in our country – it will eventually catch up with you.
Another key thing to take away from AP’s situation is what got him there. He borrowed money in order to pay off other debts. The problem with conducting life this way is that the debt will eventually have to be paid.