Former NBA #1 pick Joe Smith's journey from $61M to $157k in debt

[Jean toomer]

these nikkas getting supermaxes never going broke will be damn near impossible especially if they already had a big contract and endorsement money before the supermax

Between taxes, relatives, agents, lawyers, extravagant lifestyles and a divorce/child support case I’d argue these supermax guys are even more at risk due to a false sense of security.

 

[Guess Who]

Respect to ARod for doing this.

It’s easy to blame Joe Smith but none of us know what was going on in his life and in his head. We don’t know the problems he had to face.

A lot of money seems like a lot but when you feel like you have no limits it’s easy to spend a lot on trips, luxury clothes, novel experiences, dinners/clubs etc. I’ve done it too. When you grow up poor and get that first taste of real money it’s tempting but also, you don’t know how to manage the money—it’s a learning curve. And it’s not easy to trust people to manage money for you cuz EVERYONE has their eyes on it, even those professional financial advisors who want you to invest your money with them...for their own gain. Don’t even get me started on family and friends wanting you to help finance their dream ideas and new careers paths as well as any family functions you attend. Once people think or know you have money, it’s crazy how they treat you. You become a big ass money bag to folks.

I wish he had more knowledge, better habits and been smarter, but I can also see how situations like this can arise.

 

[Buckeye Fever]

I won't clown him, but I also won't be an idiot and feel sorry for him

 

[MJ Truth]

That nikka turned me down for an autograph request as a kid...I'm

If you act offline how you act online I can understand why he avoided you.

 

[BigMoneyGrip]

I was at the Rucker when he played back in 95

 

[dtownreppin214]

Even the wackest nba player can make a good living selling basketball camps to those spoiled rich little white kids in the suburbs. Their parents have no problem putting down $100/session type of guap so their kid can "learn" from a former professional, gain some self-confidence, and get them the fukk out of the house lol. A lot of ex-NBAers that were scrubs are eating of that in the affluent Dallas suburbs.

 

[Floyd Pinkerton]

That nikka turned me down for an autograph request as a kid...I'm

So petty

 

[Bledswole]

You know these older cats sick at all this money they giving out in the league now

 

[MITS]

Financial literacy classes need to be mandatory in high school.

 

[G.O.A.T Squad Spokesman]

So petty

"Some beef is everlasting"-

 

[Michael's Black Son]

Sounds like a personal problem.

With whatever one gets after taxes, etc from $61 million, I would own so much land in the middle of nowhere and living off interest from savings, while investing in the market and pumping $ in start ups.

 

[jadillac]

What's wild is, dude was still playing/getting paid for years after he was washed. Averaging 8-9ppg and still playing for several yrs.

You're basically getting free money at that point which means save, save save.

 

[G.O.A.T Squad Spokesman]

Messing with Moniece crazy ass didn’t help things I’m assuming

Former NBA Star Joe Smith -- I Can't Get No Satisfaction! Money Still Missing After Reality Star Ex-GF Duped Me

Hoes like her is why most NBA players flock to Los Angeles in the summer. There's so many of them.

 

[jadillac]

A nikka that blows through $61 mill would have lost $94 million as well.

This should be in a book.

 

[Trot LaRoc]

Ppl forget a lot of money gets lost due to these dudes giving money to friends and family....it aint just outlandish spending

Fam will drain you quik