Kevin Bacon Rebuilds Life After Madoff Loss and Film Setback

Kevin Bacon and Kyra Sedgwick rebuilt their personal life after losing much of their fortune in Bernie Madoff's Ponzi scheme and later leaving Hollywood for a 40-acre farm in Sharon, Connecticut, while Bacon also discussed the disappointing release of his favorite film, Stir of Echoes.

According to Yahoo, the couple's reported loss was about $30 million, although they have never publicly confirmed the exact amount. Bacon said their investments were largely placed with Madoff before the fraud was uncovered.

"We had most of our money in Madoff," Kevin Bacon said during the SmartLess podcast with Jason Bateman, Sean Hayes and Will Arnett.

Bacon described the experience as a lesson about financial caution and rebuilding after the loss. He said the family focused on their health and children, Sosie and Travis, while moving forward.

"There's obvious life lessons there – if something is too good to be true, it's too good to be true," Bacon said.

"We've made it this far, our kids are healthy, we're healthy, you know? Let's look at what we have that's good," Bacon said.

The actor said the couple responded by working through the situation rather than allowing it to define their family life.

"When something like that happens, you look at each other and you go, 'Well, that sucks and let's roll up our sleeves and get to work,'" Bacon said.

Bacon also acknowledged that others affected by Madoff's fraud faced more severe consequences, including people who lost retirement savings.

"Certainly, you get angry and stuff, but I have to say, 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. So, there's always going to be somebody that's going to have it a lot worse than you," Bacon said.

The couple later settled in Sharon, Connecticut, where they care for goats, alpacas, pigs and mini horses while spending time gardening and raising livestock.

"I love animals, they are a joy to be around, and they're very, very calming for me," Bacon said.

"But we also really love to go into the garden and get fresh herbs or tomatoes or basil or peppers or zucchini," Bacon said.

Bacon and Sedgwick have been married since 1988. Bacon said their long marriage developed naturally rather than through a formula.

"We do. I joke that the secret to a successful marriage is to not take marriage advice from celebrities. I guess if I had to think too much about [our marriage], that would probably not be a good thing.

We just got lucky. I honestly believe that's truth," Bacon said.

Bacon also revisited Stir of Echoes, the 1999 supernatural thriller he considers his favorite movie, which struggled after being released shortly after The Sixth Sense. The film earned about $23 million at the box office, according to Far Out Magazine.

"Stir of Echoes was another one that disappointed me, in terms of how it was released," Bacon said.

"I thought it was a good movie, but that was a question of them jockeying for position with The Sixth Sense. They decided to put it out after The Sixth Sense. Bad move," Bacon said.