Ian Somerhalder, Nikki Reed share shocking details about financial downfall

Ian Somerhalder opened up about the struggling time of his life when he and his wife suffered major financial restrain.

The Vampire Dairies star, who left the acting industry seven years ago, praised the Twilight actress , his wife Nikki Reed, for getting their family financially stable.

"I retired from acting seven years ago,” Somerhalder told E! News. "I left an insanely lucrative career in television after financial upheaval from building a business that I didn’t build properly. And due to fraud, it put my wife and I into an eight-figure hole."

He reflected on the irony of struggling financially after starring in one of television’s biggest supernatural series.

Somerhalder said he "should have been retiring off of one of the biggest TV shows in the world" instead of "starting companies that were not gonna pay me possibly ever."

Speaking about the difficult period of life, the actor said that he and Reed had to sell nearly everything they owned, including houses, paintings, cars, and watches, in order to recover financially.

Despite the massive setback, the former actor credited Reed for helping save their family from collapse, praising her negotiating skills and unwavering support during the ordeal.

Since overcoming the crisis, they have focused on new business ventures.

He is the co-founder of Brother's Bond Bourbon with his Vampire Diaries costar, Paul Wesley.

Somerhalder and Reed tied the knot in a private 2015 ceremony, just a year after their whirlwind romance began. The couple share two kids, a son and a daughter.

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