Why is it that....

#1
Coach Grizz

Coach Grizz

Chocolate Thunder
Joined
Sep 14, 2008
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#1
Why is it that 60% of NBA players are bankrupt within 5 years of retiring from the sport and 78% of NFL players are bankrupt or in financial stress within 2 years of retiring.

I'll hang up and listen
 
#4
#4
It's the same phenomenon as what happens to lottery winners - Too much too fast along with a lack of maturity and education and nobody around them smart enough or strong enough to tell them no.
 
#5
#5
GAVol said:
It's the same phenomenon as what happens to lottery winners - Too much too fast along with a lack of maturity and education and nobody around them smart enough or strong enough to tell them no.
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Outstanding response my friend
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#7
#7
That’s a lot of money. But when you’ve got four houses, fifteen cars, eight illegitimate children, a twenty person entourage and a few bad investments, its no wonder some NBA players live paycheck to paycheck.
 
#8
#8
PowerT83 said:
That’s a lot of money. But when you’ve got four houses, fifteen cars, eight illegitimate children, a twenty person entourage and a few bad investments, its no wonder some NBA players live paycheck to paycheck.
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I remember a couple of years ago I was down town Nashville on 2nd ave and I was walking back to my truck and I heard a mob of people behind me and it was Lindale White with 15 extra people with him!! I had a meet and greet with Lindale and all of a sudden 2 blacked out suburbans rolled up all 15 jumped in and took off into the night. On the ride home I asked myself, was all those people nessecery? Are they getting paid? Just wow!!
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#9
#9
Shiiiiiiit... If I could get a paycheck like that I'd live modestly, not kidding. I'd have my house, of course, but then I'd dump money into savings accounts, retirement funds, rental properties, etc etc. I'd have an accountant to tell me how much I can spend and when I can spend it.
 
#11
#11
Coach Grizz said:
Why is it that 60% of NBA players are bankrupt within 5 years of retiring from the sport and 78% of NFL players are bankrupt or in financial stress within 2 years of retiring.

I'll hang up and listen
Click to expand...

They don't save enough....
 
#12
#12
They live above their means. Fat houses , fat cars, 4 girlfriends and a ton of leaches hanging off of them. Most didn't go to school for accounting so they let one steal their money also.
I'd buy a modest house, live comfortable but not extravagant. Most run through that money faster than they realize.
 
#15
#15
I always wonder why these people need the multiple houses, cars, lavish things. Why is that all necessary? But I guess if I was rich like that then I'd want to buy stuff "just to have it" and say I could do it.
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#16
#16
Smokey901 said:
I always wonder why these people need the multiple houses, cars, lavish things. Why is that all necessary? But I guess if I was rich like that then I'd want to buy stuff "just to have it" and say I could do it.
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Finally somebody is keeping it real!! Yeah I said what I would not do if I some how got filthy rich but I would probably blow it all too just because I could!! But in reallity it's a damn shame.....
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