Jessica Simpson reveals her biggest financial mistake.
Jessica Simpson may run a billion dollar fashion business but she is the first to admit there were times when she wasn’t savvy with money. Simpson revealed her biggest financial mistake was her first marriage to 98 Degrees boyband member Nick Lachey.
Jessica Simpson at Teen Vogue's 10th Annual Fashion University in New York, March 2015.
Speaking on CNBC’s Closing Bell on Friday (11th September), Simpson was asked about her “biggest money mistake”.
"The biggest money mistakes?” Simpson said in response. “I don't know. For some reason I thought of my first marriage."
The mistake in question may have been not signing a prenup as Lachey is reported to have walked away with a considerable sum following their divorce in 2006.
Simpson met Lachey in 1998. They dated on-and-off for the following four years before tying the knot in October 2002. They starred together in their own reality series, Nick and Jessica: Newlyweds, between 2003 and 2005. They announced their separation in 2005, just months after the show ended and a divorce settlement was reached the following year.
Throughout the course of their marriage, Simpson became far more successful than her husband. When they divorced it was Simpson who was forced to pay up. According to reports in People, their estate was split in two and Simpson offered Lachey a $2 million divorce settlement. The settlement appears to have been so the couple avoided hashing out their divorce in court which would have attracted even more publicity.
Fortunately both 35-year-old Simpson and 41-year-old Lachey have moved on both in terms of romance and their careers. Simpson is now a successful designer whose business is worth $1 billion. She is married to retired NFL tight end, Eric Johnson, in 2014 and they have two children together.
Lachey has gone on to host a number of talk shows and appear in his own reality series, including his televised wedding to television personality Vanessa Minnillo in 2011. The couple have two children.
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