Ben Simmons Might Be “Broke” And Forced To Return To Sixers Due To Financial Issues

[FTBS]

I really need to see NFL players take home after all these taxes and they shyt isn’t guaranteed

And only certain positions really get paid like that and the average career is what...3 years? Meanwhile owners raking it in hand over fist no matter how incompetent. Thats why I can never be mad at players doin whatever they gotta do to get theirs.

 

[broller]

They actually got it worse because the illusion of having more than you do, the illusion of even more money coming like you said, and then everybody knows how much you make and got their hands out. Then add to that being in your early to mid 20s when everybody wilds out and does stupid shyt. People get caught up in the amount but that doesnt matter if you dont know how to manage it.

That's a misconception

 

[King Poetic]

And only certain positions really get paid like that and the average career is what...3 years? Meanwhile owners raking it in hand over fist no matter how incompetent. Thats why I can never be mad at players doin whatever they gotta do to get theirs.

Yeah

This is why u have to laugh at a lot of people talking about athletes need to take hometown discounts or why is this player leaving so and so for the other team because they paying more

It’s all about money period

U got players and not top players getting 4 year 4 million dollar nfl contracts that isn’t guaranteed except the bonus but u getting hit with federal taxes, state taxes in each city u play, financial advisors, managers and then for alot of players they have nothing to fall back on if they out the league

 

[RennisDeynolds]

Bum Simmons still in the league making $$. #TheNewDraymond album coming soon

 

[lib123]

They actually got it worse because the illusion of having more than you do, the illusion of even more money coming like you said, and then everybody knows how much you make and got their hands out. Then add to that being in your early to mid 20s when everybody wilds out and does stupid shyt. People get caught up in the amount but that doesnt matter if you dont know how to manage it.

Exactly. If a person in their early 20s didn’t grow up in a financially literate family and come into a windfall, they’re gonna blow it. And financially literate doesn’t necessarily mean well-off. Giannis came from a poor family but they worked their way up to some form of stability in Greece, which signals financial literacy to some extent.

 

[lib123]

Bum Simmons still in the league making $$. #TheNewDraymond album coming soon

This was the last year of his contract. It will be interesting to see what happens next.

 

[lib123]

I really need to see NFL players take home after all these taxes and they shyt isn’t guaranteed

 

[Barney Rubble]

There's a simple fix to all of this, mandatory financial literacy courses for new players and pay old vets to come in and tell stories of when they got scammed, overwhelmed by friends, families and entourages etc.. The NBA could also cultivate a list of trustworthy financial advisors for new players to invest with.

 

[lib123]

There's a simple fix to all of this, mandatory financial literacy courses for new players and pay old vets to come in and tell stories of when they got scammed, overwhelmed by friends, families and entourages etc.. The NBA could also cultivate a list of trustworthy financial advisors for new players to invest with.

That will help, but won’t work for players from families and people around them trying to live off them. It would require a lot of players distancing themselves from their families. In his pod Lou Williams said the Black NBA players mostly come from families with the mindset “we made it” while White players come from families with the mindset “you made it.” He got drafted to the Sixers in the same draft with Kyle Korver and he was saying how Korver was legit shocked and confused to see his teammates financially supporting their parents, siblings and extended families.

 

[Barney Rubble]

That will help, but won’t work for players from families and people around them trying to live off them. It would require a lot of players distancing themselves from their families. In his pod Lou Williams said the Black NBA players mostly come from families with the mindset “we made it” while White players come from families with the mindset “you made it.” He got drafted to the Sixers in the same draft with Kyle Korver and he was saying how Korver was legit shocked and confused to see his teammates financially supporting their parents, siblings and extended families.

Yeah, that's a given, but if they are better at managing the money and have some long term investments they can't touch, that should help protect them after retirement. It would also help change their mindset from just spending blindly. That's why I said bring in vets to tell horror stories so they are more conscious of everything.

 

[lib123]

Yeah, that's a given, but if they are better at managing the money and have some long term investments they can't touch, that should help protect them after retirement. It would also help change their mindset from just spending blindly. That's why I said bring in vets to tell horror stories so they are more conscious of everything.

On his Vlad interview, Sebastian Telfair said after the 30 for 30 Broke documentary came out the prior player’s association president Billy Hunter pushed for them to set up bridge accounts where players put some money aside to hold them over until they can tap into NBA pensions. He said that’s why we haven’t been hearing stories of players going completely broke after retirement. I’m sure they still blow thru most of the money tho.

Think about it, to ensure they maintain their spending while playing for the rest of their lives, they need to be saving and investing 70-75% of their net income. Realistically how many of them are disciplined enough to do that?

 

[broller]

That will help, but won’t work for players from families and people around them trying to live off them. It would require a lot of players distancing themselves from their families. In his pod Lou Williams said the Black NBA players mostly come from families with the mindset “we made it” while White players come from families with the mindset “you made it.” He got drafted to the Sixers in the same draft with Kyle Korver and he was saying how Korver was legit shocked and confused to see his teammates financially supporting their parents, siblings and extended families.

Facts

I remember Jameis Winston said he lived in a house with 15 people growing up. Those folk are gonna want some of that paper.

"I ain't just rappin for fame, I got my old homie half sister father askin for change"-Nas

 

[lib123]

Facts

I remember Jameis Winston said he lived in a house with 15 people growing up. Those folk are gonna want some of that paper.

"I ain't just rappin for fame, I got my old homie half sister father askin for change"-Nas

Exactly. It’s fair to assume many are probably spending 40-50% of their incomes supporting people.

 

[Jazzy B.]

There's a simple fix to all of this, mandatory financial literacy courses for new players and pay old vets to come in and tell stories of when they got scammed, overwhelmed by friends, families and entourages etc.. The NBA could also cultivate a list of trustworthy financial advisors for new players to invest with.

We’re simply just not like cacs.

Once we come up we will help those who came up with us + family.

Cacs are loyal to nothing but money so them dissociating is easier.

 

[Jazzy B.]

Yeah Gilbert Arenas broke it down on one of his old pods. Basically a lot of NBA players start getting loans and mortgages in their first year in anticipation of future earnings. It’s an endless cycle where they’re living in anticipation of another big contract.

Athletes are FORCED to get loans.

If you are selling something to an athlete it makes NO SENSE to accept anything other than a loan agreement. Because you’ll make more off the interest as opposed to a one off full payment.