Gilbert Arenas Logically Explains How NBA Players Go Broke
- Thread starter lib123
- Start date
If a player decides he wants to buy his parents a house, for 3 to 4 million. - First fukk up.
Furnish the house. - Second fukk up.
People need to address the idea of no handouts. I love my parents but I would not buy them a house for 4 million unless that 4 million was a pinprick in my income.
Furnish the house. - Second fukk up.
People need to address the idea of no handouts. I love my parents but I would not buy them a house for 4 million unless that 4 million was a pinprick in my income.
That trap of feeling like we owe our parents a debt for being brought here when 40yo others stay asking 70yo parents for 5-6 digits to fukk off with no regard for their elderly parents survival
Setting yourself on fire to keep everyone warm type shyt
get 4 million a year and still be broke NBrehs
Its real simple. The vast majority of people think if you make $5 million/year you take home $5 million/year.
Elim Garak
Veteran
That's the players faults they need to make better decisions for the future.
STFU
calixprynce
...
nikka my moms oldest is 33 , youngest is 25 and she be complaining how we ain’t sent her around the world or bought her a house yet 
like damn momma you don’t even have grandkids yet !
like damn momma you don’t even have grandkids yet !
I’d definitely buy my parents a house but DEFINITELY not for no $4 Million.
Also, and I know it sucks to say this, but contrary to popular belief black men have charitable hearts. I’ve seen well to do black men literally stressing out trying to take care of all their family and friends because they were the “one who made it big”. And thats an unfair and unrealistic burden.
What i’d do is take care of my parents, a nice decent home that wouldn’t have to pay rent/mortgage or utilities on and nice fundamentally sound vehicles. ANYTHING else they have to take care of themselves.
My siblings (since we’re close and they are all responsible hard working people) i’d give a couple thousand to start their OWN business or entrepreneurial endeavor. That way there are multiple streams of income flowing throughout the family.
My two best friends who have been down with me for 20 years i’d do the same thing. Give them enough capital to start their own businesses.
Everybody else in my life.
I might help you get a job but thats it. You ain’t getting NO money from me. Not a single red cent. Only thing i’d like to do is donate money to the United Negro College Fund or set up my own scholarship program to help black kids go to HBCU’s.
Also, and I know it sucks to say this, but contrary to popular belief black men have charitable hearts. I’ve seen well to do black men literally stressing out trying to take care of all their family and friends because they were the “one who made it big”. And thats an unfair and unrealistic burden.
What i’d do is take care of my parents, a nice decent home that wouldn’t have to pay rent/mortgage or utilities on and nice fundamentally sound vehicles. ANYTHING else they have to take care of themselves.
My siblings (since we’re close and they are all responsible hard working people) i’d give a couple thousand to start their OWN business or entrepreneurial endeavor. That way there are multiple streams of income flowing throughout the family.
My two best friends who have been down with me for 20 years i’d do the same thing. Give them enough capital to start their own businesses.
Everybody else in my life.
I might help you get a job but thats it. You ain’t getting NO money from me. Not a single red cent. Only thing i’d like to do is donate money to the United Negro College Fund or set up my own scholarship program to help black kids go to HBCU’s.
Wale Ogunleye said something similar on I AM Athlete. Gilbert is talking about how money flows backwards with most black people so these athletes are already in the hole without even realizing it.
Yes it's timestamped
This is the BEST podcast. They stay preaching.
Yes it's timestamped
This is the BEST podcast. They stay preaching.
Don’t hear anything about these dudes signing over control of their millions to jewish agents, accountants and financial planners. Because those are the people advising these athletes to make the choices they do and steer em to certain investments, and those are the people ultimately stealing all those millions.
But they also have to sign non disclosure agreements so they can’t talk about them, but have to put it all on buying 4 million houses for momma.
But they also have to sign non disclosure agreements so they can’t talk about them, but have to put it all on buying 4 million houses for momma.
Treblemaka
President, BYNKRadio.com (Retired)
This makes sense. Alot of people are broke on 70k salaries because they are living above their means and kick the can down the road with credit card debt.
If you can't handle 70k you certainly don't have the discipline to handle 7M.
If you can't handle 70k you certainly don't have the discipline to handle 7M.
That’s why if you come into fortune you shouldn’t gift anything that has a carrying cost greater than what the recipient can afford. Not heeding this advice puts you in a position where they come to you to cover the carrying costs and you don’t want to see the asset be repossessed/lost so you end up doing over and over and over.
You should first only seek to help those who help themselves and you do that by setting them up to make money. If you have a cousin that is broke but can cut hair and looking for some help and you got it, tell him to go to barber college, get a license, and create a business plan and then you’ll provide him with then capital and resources to open up a shop that you will be 51% owner in until he buys you out.
Do shyt like that…put people in position and if someone is too lazy and just want you to splurge, fukk em, let me sink.
Also just easy math…make sure your income is greater than your expenses and look at your burn rate…if you out the league how fast is the cash gonna run out?
You should first only seek to help those who help themselves and you do that by setting them up to make money. If you have a cousin that is broke but can cut hair and looking for some help and you got it, tell him to go to barber college, get a license, and create a business plan and then you’ll provide him with then capital and resources to open up a shop that you will be 51% owner in until he buys you out.
Do shyt like that…put people in position and if someone is too lazy and just want you to splurge, fukk em, let me sink.
Also just easy math…make sure your income is greater than your expenses and look at your burn rate…if you out the league how fast is the cash gonna run out?
A new player is probably managing his own shyt outside of an agent