Aaron Carter: I Made Over $200 Million Before I Turned 18
Pop star Aaron Carter found fame and fortune when he was just a pre-teen. By the time he turned 13 years old, his biggest hit, the triple-Platinum Aaron's Party (Come Get It), was behind him. With such massive success, how did Aaron, the younger brother of Backstreet Boy Nick Carter, file for bankruptcy when he was only 18?
Aaron's finances were managed by his parents, and when he turned 18, he discovered that he owes more than $3.5 million in tax liens. By law, Aaron says, his parents were supposed to set aside 15 percent of his money in a bank account for when he becomes an adult. He received $2 million, which he believes should have been closer to $20 million. To clear his books, Aaron filed for Chapter 7 bankruptcy in 2013.
Nonetheless, Aaron says he harbors no ill will toward his parents for their financial mistakes. "I feel like it's important for me to take the things that could be looked at as a negative and use the power of positive thinking and try to look at the glass half full versus half empty."
"Maybe I can learn from it," Aaron continues, "and you know, maybe it could just empower me to give advice to other people or go through an experience and just be able to get back or protect myself."