Magician Penn Jillette, 71, has shared insights into his frugal lifestyle, including his practice of charging his electric car using power from the casino where he performs. Jillette, known for his role in the magic duo Penn and Teller, explained that his fiscally conservative habits stem from his parents' experiences during the Great Depression.
"My parents were young during the Depression, and because of their experience, they were very serious about money," Jillette said. His father worked as a jail guard before becoming a numismatist, a profession from which he retired early, instilling a lifelong habit of frugality in Jillette.
Jillette's first job was as a dishwasher in high school. Despite his parents' initial concerns about his career choice as a juggler, he reassured them by demonstrating his financial stability, even during his time on Broadway and Saturday Night Live. He recalled his father being relieved upon learning how much stagehands earned, stating, "That's more than I've ever made, and you pay him? I guess you're OK."
As a young performer, Jillette was a successful busker, earning approximately $2,000 per week over 55 years ago, which meant he did not struggle financially. He and his partner, Teller, adopted similar spending habits to their fathers, prioritizing avoiding debt and opting for modest treats like coffee and doughnuts over lavish purchases.
Jillette described the early 2000s as a highly successful period, with two television shows, 250 nights of performance annually in Las Vegas, and extensive touring. He also noted a bestselling book and acting roles during this time.
His most significant purchase for enjoyment was a $50,000 upright bass, famously used for the shark theme in the movie Jaws. This purchase was made in consultation with Teller, as per their contract requiring shared investment in show-related items. Jillette stated, "We do not scrimp on our tools. Buy it."
More recently, Jillette purchased a used electric Fiat 500e for $22,000, which he uses for commuting. He was looking for a fuel-efficient, electric car and found the red Fiat to be the only suitable option available in Las Vegas at the time. Jillette, who stands 6 feet 7 inches tall, noted that Fiats and Mini Coopers are designed for individuals of his height. He insisted on having an electric charger installed as part of his contract and "steals" power from the Rio Casino to charge the vehicle.
Jillette manages his finances with his family as his top priority. He has individual retirement accounts to ensure his family's financial security should he become unable to work. He also covered round-the-clock in-home care for his parents when they became ill, even lying to his father about the cost by claiming it was government-funded.
Currently, Jillette lives in a mansion in a gated community in Las Vegas, approximately 11 miles from his workplace. He previously lived in a larger home that he found less suitable after starting a family.
Jillette is scheduled to tour the UK in September with a new show, "Piff And Pop's Magic Shoppe," alongside Piff The Magic Dragon.