Kevin Bacon lost 'most' of his money in Bernie Madoff ponzi scheme

Kevin Bacon is no stranger to bringing home the bacon. Losing it, however, was an entirely different experience.

The actor revealed that he and his wife, Kyra Sedgwick, had invested and lost "most of our money" in Bernie Madoff's $50 billion Ponzi scheme during Monday's episode of the SmartLess podcast, hosted by Jason Bateman, Sean Hayes, and Will Arnett.

"There's obvious life lessons there. You know, if something is too good to be true, it's too good to be true," Bacon recalled. "When something like that happens, you know, you look at each other, then you go, 'Well, that sucks. Let's roll up our sleeves and get to work,' you know?"

Instead, Bacon said he and his wife tried to put their undisclosed financial loss into perspective. "We've made it this far. Our kids are healthy. We're healthy," he shared. "Let's look at what we have that's good."

The Footloose star, who acknowledged that others might be "not happy to hear me whining about money," was also conscious that they weren't the only ones hurt by the investment scandal, which led to Madoff being sentenced to 150 years in prison back in 2009.

"Certainly, you get angry and stuff, but I have to say that there were a lot of people who were much worse off than we were," Bacon said. "Old people, people whose retirement funds were completely decimated. There's always gonna be somebody that's gonna have it a lot worse than you."

"Whatever the cliches… Whatever doesn't kill you makes you stronger," Bacon continued. "We just rolled up our sleeves."

Luckily, Bacon noted that he and his wife were able to recoup at least some of their money back along the way. "It's a complicated thing to explain," he said. "But, basically, yes, we got a portion of some money back and there was also a lawsuit and stuff like that."

Bacon previously opened up about being scammed by the financier in a 2017 interview with The Guardian, calling it "a bad day." He added, "Let me also say, I think there's a good cautionary tale there, to be cognizant of what's happening with your money."

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