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kdailey4315
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- Mar 4, 2009
- 5,458
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Yeah. I just read that article. It's pretty ridiculous.
Pine Tar
Active member
I'm not surprised that it was not higher then what stated
gt2590
Super Moderator
I've heard estimates that 1/2 of all NBA players go broke within 5 years of retiring. Heck, Antoine Walker and Allen Iverson are going through that right now.
Here's a funny (and kinda sad) article that Rick Reilly did about athlete's spending habits about 2 years ago.
http://sports.espn.go.com/espnmag/story?id=3469271
Pretty amazing stuff!
Here's a funny (and kinda sad) article that Rick Reilly did about athlete's spending habits about 2 years ago.
http://sports.espn.go.com/espnmag/story?id=3469271
Pretty amazing stuff!
Rickzcards
New member
So glad to see that punk ass Latrell Spreewell on that list. He deserves it after all that crap he pulled. Bet he now wishes that he took them up on that offer of $21 million.
Lancemountain
Active member
There's 5,000 slot machines? :lol:
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- #8
Lancemountain said:
Duh, you have never seen a $5,000.00 coin. It goes penny, nickel, dime, quarter, fifty cent piece, gold dollar and then $5,000 coin. I thought everybody knew this. :lol:
Also, I am the only one that thinks this was a good deal? "$140,000 for two Bengal tigers".
matty07
New member
I read these stories and it boggles my mind how people can be such waste. Who needs 17 room houses and 4 million dollar cars. If I ever owned that amount of money I dont even know what I would do with it to begin with
I think its kind of funny that some of them could have just let the money sit in their checking accounts, never "invested" any of it, and yet would have had enough for a very nice yearly spending for the rest of their life.
Yet, they're broke from moronic investing when they had more money than they knew what to do with!
Yet, they're broke from moronic investing when they had more money than they knew what to do with!
19braves77
Active member
What is weird is how one player will get bad advice from another. Look at all the ways athletes go broke:
1. Put cash in a Ponzi scheme- Micheal Vick
2. Make bad investments- Drew Bledsoe invested in a business that would allow people to use their thumb to pay for items like a credit card.
3.. Get divorced- Greg Norman lost over a 100 million in divorces
4. Try to run a business- Lenny Dykstra
5. Do drugs - Rickey Williams
6. Have too many children- Travis Henry had 9 kids with 9 different women . He paid 170,000 in child support in 2007.
7. Using the wrong advisors
8. Invest too much in real estate- At one time , Jose Canseco had a house in 10 different states and 3 different countries
9. Fight dogs - Micheal Vick
10. Act dumb- Pacman Jones
1. Put cash in a Ponzi scheme- Micheal Vick
2. Make bad investments- Drew Bledsoe invested in a business that would allow people to use their thumb to pay for items like a credit card.
3.. Get divorced- Greg Norman lost over a 100 million in divorces
4. Try to run a business- Lenny Dykstra
5. Do drugs - Rickey Williams
6. Have too many children- Travis Henry had 9 kids with 9 different women . He paid 170,000 in child support in 2007.
7. Using the wrong advisors
8. Invest too much in real estate- At one time , Jose Canseco had a house in 10 different states and 3 different countries
9. Fight dogs - Micheal Vick
10. Act dumb- Pacman Jones
predatorkj
Active member
- Aug 7, 2008
- 11,871
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J.O. said:
Yeah and that damn thing better be able to cook and clean house and mow the lawn too for that much. Not trying to be rude about it but it just seems when you look at the grand scale...some things have a limit, or should have one, when it comes to what they cost.
Most I have paid for a dog was $400 and in all honesty...it wasn't my idea. I know plenty of people giving away dogs. Some are even pretty good breeds. But my wife likes the taco bell dogs so I have to go with the flow.
For why some of these guys go broke...its because they live in a fanatsy land where nobody tells them that the money can and will run out.
As far as a cars go...anything over $1,000,000 is absurd. Chances are...no matter what you buy ...you could buy something faster and sleeker for less money. Or build it. Which would be more fun. Especially since there is no lag between what you need and what you can afford. Besides...you have to drive it sometime. If I had a car that expensive...I'd be worried as hell to take it anywhere. Another thing I don't get is how many cars do you really need? Hell...pick three or four and call it a day. If you have a slew of cars...what will you do with them all? My bet is even if you only have 3 or 4...you will eventually gravitate towards one in particular that you get used to, you like, and that really just feels right for you. So even then you'd be prone to neglect the others. At 18 cars...you are just an idiot.
As for the lavish homes...I can see wanting a big home. I would love a two story house with 5 bedrooms in it. But the bedrooms would merely be for family get togethers and hollidays. Having a home with 111 bedrooms is kinda f'n creepy. What the hell would you do? Re-enact The Shining?
The main theme behind all of these problems seems to be that these people buy things they don't want or need, simply because they can. My motto is if you don't need it then you have to go to step two: if its a want...are you buying something you will get enjoyment out of or will actually use. Now if the answer to all of those questions is a resounding no...then don't freakin buy it! Otherwise it really is a waste of money pure and simple. Buy things you need/want/will use. Stick to that and also determine how much you should spend depending on the item and go from there. Buying a $20,000,000 home just because you can is stupid. Instead, determine what your home will be used for, determine how much use you will get out of each component of the home, and then determine what to buy. And based on what you are buying, determine a decent price. Because buying a home for $20 million that you absolutely won't/can't even get close to utilizing is no different than a rather large burly man going into walgreens and buying $200 worth of maxi pads he won't/can't use or doesn't need. Not only can he not use the product, he wasted a lot of money on the item as well. Who the hell does that?
predatorkj
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- Aug 7, 2008
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19braves77 said:
muchuckwagon
New member
It is not just athletes that go broke...same it true of lotto winners. Much of it boils down to education or a lack of education.
Think about it...how many high profile athletes struggle to get into college and then leave for the pros as soon as they are eligible?
Many of these individuals who go broke come from poor families....and they become instant millionaires. You have family and friends....you buy them stuff, you employ them...and they suck you dry.
You are also surrounded by a peer group (teammates) who is spending money...so you spend money. Plus, you have a lot of free time...tons of free time to do nothing but spend money. Not to mention, you become a target for all kind of people looking to take advantage of you and your wealth.
It is not hard to spend money....even for the average person. You start your career and find a way to manage on a $50k household income...a few promotions later and your household income jumps to $250k and so do your bills.
It takes discipline to save money and plan for the future....but you also have to balance out your life and have fun, enjoy the rewards that come along with all of your hard work.
Think about it...how many high profile athletes struggle to get into college and then leave for the pros as soon as they are eligible?
Many of these individuals who go broke come from poor families....and they become instant millionaires. You have family and friends....you buy them stuff, you employ them...and they suck you dry.
You are also surrounded by a peer group (teammates) who is spending money...so you spend money. Plus, you have a lot of free time...tons of free time to do nothing but spend money. Not to mention, you become a target for all kind of people looking to take advantage of you and your wealth.
It is not hard to spend money....even for the average person. You start your career and find a way to manage on a $50k household income...a few promotions later and your household income jumps to $250k and so do your bills.
It takes discipline to save money and plan for the future....but you also have to balance out your life and have fun, enjoy the rewards that come along with all of your hard work.
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IndyManning18
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I wouldn't buy the Cincinnati Bengals if I had an extra $140,000, let alone two Bengal tigers.AKT74 said:
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mredsox89
New member
It is a combination of two things imo. First, many have no experience on how to handle with money and plan for the future. Second, people try to take advantage of people with these amounts of money, and the people with the money think they have so much money that they can't say no.
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