Macy gray knows the value of a dollar, which is why she saves it. The singer recently revealed to the Chicago Tribune that while she’s not much of an investor, she is a big saver.
“I know a lot of people are able to make really good investments, but I’m not the kind of ‘money person’ who knows how to do that. I’ve had people help me out, but that really didn’t work, either. Investing is definitely an art, like anything else. It’s an art to make money, and an art to make it grow bigger and bigger. So I save. I’ve let my money build up, and it’s accumulated into a lot over a period of time. And that’s really cool,” said the singer.
As a mother of three who is big on discipline, Macy teaches her children financial responsibility through money market accounts that pay them to stay in school. “My kids get so much when they are 18, and so much when they are 21. My accountant set it up very nicely. My kids get more money if they stay in school, so that’s good too.” The singer elaborated, “I’ve given a percentage into my kids’ accounts – just like I pay my manager or my agent. It’s not so much a trust fund as a money market account. They’ve been accumulating money for a long time, and it’s set up so I can’t get at it. They actually have a lot more money than I do,” said Gray.
In reflecting on her biggest contributions, Macy says the troops are her main priority. “I like to help the troops,” explains Gray. “I’m very passionate about that, about helping wounded soldiers and their families. There’s a huge military charity called Operation Homefront. I also do visits to hospitals and I donate money to families, who, if their sons are in the hospital, the parents have to leave work to care for them, and that just kills them financially. I do a lot of benefits, and say yes as much as I can.”
Macy has three children in all.