Antoine Walker explains how he lost $110 million...

Piff Perkins

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If you have that money do the right thing: go to Goldman Sachs or a similar financial company and only take advice from them. Don't fall for real estate "scoops" from friends or rich cacs. Don't hire one guy to be your adviser, who isn't with a major company.

Put a lot of money in an index fund, maybe play with some stocks, and leave your money alone.
 

Tha Gawd Amen

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They should really make college athletes take some sort of personal finance class, regardless if they're there to go to school while playing ball or not. shyt, everyone should try and take one l, because this shyt really isn't gone over at all in the public school system.
 

David_TheMan

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They should really make college athletes take some sort of personal finance class, regardless if they're there to go to school while playing ball or not. shyt, everyone should try and take one l, because this shyt really isn't gone over at all in the public school system.

That should be something the NBAPA should provide over the summer for rookies and just in general. Hell even some online classes if some don't want to be seen.
 
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If you have that money do the right thing: go to Goldman Sachs or a similar financial company and only take advice from them. Don't fall for real estate "scoops" from friends or rich cacs. Don't hire one guy to be your adviser, who isn't with a major company.

Put a lot of money in an index fund, maybe play with some stocks, and leave your money alone.


It's really not complicated. If you ain't tryna be detailed oriented about your finances (and most newly minted 23 year old millionaires ain't about that life) just put your money in places where they're used to high net worth clients. They ain't gonna illegally rip you off for a few million and risk losing billions in business.
 

Makavalli

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It was that Succubus latina with the silk vagina. Once he let off that pearl rope inside her hot pocket she leg locked that shyt and wiggled his soul out of his d*ck

:mjlol:
 
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Blade

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That should be something the NBAPA should provide over the summer for rookies and just in general. Hell even some online classes if some don't want to be seen.

The NBA does in their rookie transition program, but it ultimately falls on the player to pay attention to what's being said.

Stern spoke last week as the NBA cracked opened the doors of its "Rookie Transition Program" for the first time and gave 48 Hours Investigates an exclusive look inside. Since 1986, every rookie, including Kobe Bryant, has been required to attend the 6-day program -- a crash course on the high-profile, high-risk life of an NBA player.

The program is all business: 12 hours of classes a day, and players are not allowed to leave or have visitors.

The NBA also requires rookies to attend classes that they would not let us see on subjects such as Gambling, Felony Situations, Drugs and Alcohol, Sexual Harassment and Sexual Health. The goal of these classes seems clear --help players stay out of trouble, which in turn helps the NBA protect its investment, and its image.

"We want them to know that they're going to be defined in the media by their weakest moment," says Stern. "And we're here to remind you that those decisions can have horrific consequences for you and the league."

"What Rookie Transition does is try to expand guys' horizons. There are always people out there who want to get in their pocket. There's always lovely ladies that might have another agenda," says NBA Hall of Famer Bob Lanier.

His message was direct: players are targets.

"They have to be careful about that. So what we try to do is to raise the awareness level, so they can have a basic understanding of things that can be coming at them," says Lanier.

Rookie Transition Program
 
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