Dean McDermott Reveals Shocking Financial Struggles Amid Divorce from Tori Spelling
Dean McDermott has laid bare his financial situation in newly filed court documents amid his prolonged divorce from actress Tori Spelling. The father of six disclosed a startlingly modest income and mounting debts, painting a picture far removed from the glamorous celebrity lifestyle often associated with Hollywood stars.
According to the documents submitted on Friday, McDermott, who has been sober for two years, earns approximately $3,800 per month before taxes working as a drug and alcohol counselor. He reportedly works around 30 hours a week in this role. Despite this income, his monthly expenses nearly match his earnings, with essentials such as rent, groceries, gas, and internet totaling close to $4,000. Adding to his financial woes, McDermott carries over $215,000 in overdue debt, including dental bills, credit card balances, and a substantial personal loan. His cash reserves are minimal, with only $459 reported in his accounts.
Reflecting on his past, McDermott admitted to owning four motorcycles at one point, acknowledging in hindsight that he only needed one and that he would have made very different financial choices. He also revealed the challenges he has faced finding acting work since the Hollywood actors’ strike two years ago, describing the experience as “starting over again” and expressing a longing to return to the set, which he loves.
In a surprising personal update, McDermott disclosed that he is currently living with his girlfriend of about two years, Lily Callow, whom he financially supports. Meanwhile, he stated that Tori Spelling’s income fluctuates widely, ranging anywhere from $3,000 to $75,000 per month depending on her projects. He noted the unpredictable nature of the entertainment industry, emphasizing that it is not a traditional 9-to-5 job.
Tori Spelling herself has been open about her own financial struggles despite inheriting $800,000 from her late father, Aaron Spelling, whose fortune was reportedly around $500 million. She has candidly discussed adjusting to a more modest lifestyle, admitting to making money mistakes like many others. Spelling has faced lawsuits over unpaid credit card debt, tax liens, and other financial challenges. In 2023, she and her five children temporarily lived in an RV while escaping a mold issue in their home.
“It is tough. Having a family as big as ours is really expensive,” Spelling shared. “We’ve been through the ringer. After a while, it’s just like, okay, you know what? I’m not going to let it get to me. The way I live my life now is one day at a time. I’m sober and I’m happy. My kids are amazing. I don’t know what tomorrow brings, but I know I have today.”
The revelations from both McDermott and Spelling highlight the financial realities behind the scenes of celebrity life, reminding fans that fame does not always equate to financial security. As their divorce proceedings continue, both are navigating personal and financial challenges while focusing on their family’s well-being.
