How do professional athletes go broke

[godofwine]

Most of us will never see the amount of money professional athletes have supposedly seen in their career. I say supposedly seen, because we know their contracts are full of funny money. While a contract might say 100 million, a lot gets taken off the top and they never actually receive that $100 million or close to it

I wonder what would have happened had I actually pursued being a singer. In 2000 I got backstage and sang for Eric Benet. He commended me on my voice and vocal control and gave me his manager's number. I was going through a breakup at the time and I punked out and never called.

I wonder where I would be right now financially, better or worse

 

[850credit]

They know how to dunk, throw or hit a ball. That doesn't mean they know about handling life issues, running a household or viewing themselves as a corporation.

For every Russell Wilson, Tom Brady, Steph Curry or Alex Rodriguez how many flameout are there.

It's clear that I didn't press play on this Brotherman hater's video.

 

[xxxbishopxxx]

I think a lot of athletes don't fully realize that their career is finite, therefore their max earning potential is also finite.

Also, you got those that feel they need to always provide for family, no matter how shitty those family members may be.

 

[tallblacknyc]

Majority don’t make 100 million… most don’t be In the league for at least 10 yrs.. they get taxed out their ass… they pay an agent who may never find them gigs 15 percent.. everybody and their mama come out the shadows with their financial woes begging them to give them some money.. some fall for the expensIve taste (jewelry, car, compulsive spending)… than their hidden cacs that come out the shadows with claiming they can help the athlete flip his money through investments or starting a bizz only to find out later they’re wolves in sheep’s clothing and get them for their bread “through bad investments “… oh yeah did I mention gold diggers.. the ones that act like they in your corner and the obvious 1s far away telling you to spend such a such for your companionship… oh yeah baby mamas .. there you go

 

[850credit]

 

[godofwine]

I think a lot of athletes don't fully realize that their career is finite, therefore their max earning potential is also finite.

Also, you got those that feel they need to always provide for family, no matter how shitty those family members may be.

The most important thing that I learned is that my mother, sister, and brother are fine right the fuck where they are.

If I were in slavery with my mother and sister and brother and the emancipation proclamation AKA Juneteenth were to let us go free, all three of them would stay on Massa's farm if he offered.

That's the type of people they are.

I don't give a fuck if he would have told me I could live there for free, I'm not staying there. I can't. And I won't. You can kiss my motherfucking ass.

But they would stay.

That's important information to learn. You can't help everyone and not everyone is happy for you. I would give members on the board more money than I would give my immediate family combined.

You just got to learn, some people ain't shit, and mother, sister, and brother are not above people who ain't shit just because of where they were born in your life.

Now, if I were to come upon a great sum of money I would be a whole ass Capital One commercial. What do I mean? Remember that Capital One commercial where they told everybody "No" in like 15 different languages.

You have to be willing, able and capable of telling motherfuckers no and not giving a damn if they hate you or not. And not giving a damn if they disinvite you for holidays or even Christmas.

That's how you hold on to your money

 

[easy_b]

Buy a normal house like five or 600 grand get two cars and have a small circle of friends and family around you and I mean very small. Some of these dudes we spending money like water sometimes and get them in trouble. If you play a good 10 years in basketball football, you going to be taken care of for life if you take care of your money.

 

[julian]

these athletes go broke for someof the same reasons lottery winners go broke.1st they dont pay ALL the taxes state and federal. then they buy high dollar shit by financing it instead of cash then they buy shit thats not worth anything and goes down in value like cars,over priced jewelry,then they give money to relatives friends and finally they invest in all kinda stupid businesses or schemes. Thats how someone with $100m can be broke within 10 years. I remember Dwight Howard did an interview and the interviewer asked him y he paid cash for his 5 houses and not mortage them. He looked at the guy and was like r u slow,a mortgaged house is not an investment its a potential money pit me buying the outright has quadrupled my real estate values.most people dont understand that they think mortgage it with tax breaks is the way to go