How does an exceedingly rich person, one whose assets may have a net worth of $1 billion, end up $500 million in debt?

The answer, for Michael Jackson as much as for any of us, is more than likely, bit by bit.

I have seen it with rich people as well as the non-rich. The amount of money you have really doesn't matter when it comes to debt.

What makes a difference whether you can arrange your life around the amount of money you have. Or less than what you have.

What works is having an idea of where you want to go in your life and sticking to that plan, not letting every temptation that comes along divert your money away from your goal.

You want something you don't have the cash for, you borrow. It's the same proposition at $1,000 or $1 million.

You can do it in small amounts, with credit cards or home equity loans, or in large amounts, if your name is Michael Jackson.

You can make bigger mistakes when you're richer. But that's no advantage, as I see it.

He should have gotten help, real help, with money issues.

Where were his financial advisors, as he sank into debt?