Howie Mandel exposes the biggest mistake rising stars make with their money
Howie Mandel shared a blunt warning about the temptations of early financial success for up-and-coming entertainers.
Though Mandel's entertainment career spans more than four decades, the 70-year-old comedian has previously revealed that much of his wealth comes from diversified investments, particularly real estate. The "America's Got Talent" judge has long used his platform to advocate for financial literacy and smart money habits.
During an interview with Fox News Digital, Mandel weighed in on the biggest mistake entertainers can make after scoring their first real paychecks.
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"Spending on anything," he said. "There's nothing to spend on."
"I love that book, ‘Rich Dad, Poor Dad,'" Mandel continued, referring to Robert T. Kiyosaki's 1997 personal finance bestseller. "I had this theory before I read the book, but anytime you get a dollar, then you've got an employee if you can make your dollar work for you."
"So, instead of spending it or buying something that could get you into debt or something that's going to diminish in value, if you can get something, like, if you're gonna buy a house, then buy a duplex and rent out the other ones, so the mortgage is free."
Mandel, who was expelled from high school for pulling a prank, noted he "doesn't have a GED," but rejected the idea that smart money management requires advanced education.
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"I think fourth grade math is all one needs," he told Fox News Digital. "Any dollar you make, you should look at that dollar and say, ‘How can this dollar make me a nickel?’ You know, or ‘How can this dollar make any money?’ And every dollar can make you money."
"You could find ways to make money," Mandel continued. "It's easier to spend money, but then you're just assuming that more is coming in."
"And you can never assume that you're gonna get another dollar tomorrow."
Mandel has witnessed the rise of many new entertainers through his longtime role on the hit NBC reality competition show "America's Got Talent," where he has served as a judge for 16 consecutive seasons since 2010.
The Canada native recently announced that he will host a special one-night-only "AGT" Comedy Showcase at Hollywood's Laugh Factory for comedians who aspire to compete on the show. Mandel's Comedy Showcase will be open to the public and offers comedians the opportunity to perform and potentially secure a spot on "AGT's" upcoming 21st season.
While speaking with Fox News Digital, Mandel noted that there are two main ways to initially audition for "AGT" before making it to the TV stage. Contestants can submit a video audition through the show's official casting website or line up for hours to audition for producers during open calls that are held in select U.S. cities.
Mandel explained that his showcase offers comedians a third audition option he believes will better set them apart.
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"A comedian sending a tape is not always the best quality because you're at the mercy of whoever's taping or what the club has or their sound system or their lights or whatever," he said. "Or they come in in-person, and then they have to kind of show their wares in front of a table of producers with no audience."
"And I am such a proponent of stand-up comedy and feel that it's under — people don't know what goes into it — especially on our show," Mandel continued. "When you see somebody come out, and they're hanging upside down, two stories in the air and in flames, or even if you just come out, and you're a singer, and you are singing a cover song. And you know, you're singing somebody else's song, and you play guitar and the audience just needs to sit there and then at the end, if you hit a really high note, or you get loud, they roar, and they stand at the end."
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"But a comedian has to write their own material," he pointed out. "They have to present it themselves and there are no bells and whistles unless those are your props. So, I feel that for the producers, to get the best idea of what somebody can deliver, why don't you see it in the place where it is supposed to be? And that is in front of a real audience."
"And hopefully…if they do something great, you bring them to the show, and they can replicate that on TV. And I just think that no other form of entertainment needs that kind of audition or space or stage to really show people."
"AGT" has given comedians significant national exposure and helped launch or boost the careers of several stand-outs, including Preacher Lawson, Josh Blue, Taylor Williamson, Vicki Barbolak, Learnmore Jonasi and others. However, no comedian has ever won "AGT."
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During his interview with Fox News Digital, Mandel shared his thoughts on why no comedian has yet won the competition.
"I think because people just do not — and this is our culture — people do not understand what goes into honing an act and delivering an act," he said. "It just seems like less. You know, in the circus, the clown goes on last. Even on ‘The Tonight Show,’ they put the comedian on at the end…or it's the opening act."
"I don't think there's a lot of respect for funny or silly or whatever, but as somebody who's in the throes of it, a lot goes into it, and it can be terrifying," Mandel continued. "It can be arduous. It's a lot of work."
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Mandel pointed to legendary comedian and "Seinfeld" star Jerry Seinfeld, whom he described as a "wordsmith."
"He is not just out there making stuff up, talking," Mandel said. "You put a lot of work and time and effort into it and a lot of the comics that come on our show do, and it's really scary. A lot of them will come from other countries where this isn't even their culture, and they have to make somebody or people or an audience thousands of miles away in the other part of the globe laugh and smile. It's hard to do."
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"And I'm not tooting my horn," he added. "I feel like I'm really lucky that whatever I thought was silly, everything I've ever been punished for or expelled for or hit for is what I seem to get paid for today."
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Addressing aspiring "AGT" comedian contestants, Mandel said, "I'm really excited that ‘AGT’ has enough respect now for that art form that they're even opening up a very special, safe audition for you."
"So you've gotta show up, you've got to be there, you can't lose," he said. "You can only end up in a better position. You can't end up in a worse position. Worst-case scenario, you'll be exactly where you are now. More importantly, you'll probably be in a better place."
Comedians can sign up to audition for Howie Mandel's "AGT" Comedy Showcase at https://www.agtauditions.com/howie. Tickets for the show are available now at https://www.laughfactory.com/hollywood with prices starting at $25.