Gilbert Arenas Logically Explains How NBA Players Go Broke

[stepbackj34spud]

so basically you just made all this chatty patty shyt up? didnt he say his investments make him 7 figures? pathetic ass cockroach between this and your lebron dikk riding you clearly have no father

Wait, dude automatically assumed Floyd doesnt have 100s of Ms because people are stupid enough to pay for exhibition fights?
If Floyd can walk away with 35mil from a exhibition, he broke? lol

 

[Animal House]

Its real simple. The vast majority of people think if you make $5 million/year you take home $5 million/year.

This

it’s not half but closer than taking home the whole bag

 

[lib123]

this exactly the stuff gilbert was talking about not to do.

Gilbert was talking about much larger monthly expenses and supporting family after contract ends. It’s not so much helping family, it’s how much and for how long.

 

[Kornball The Conqueror]

He’s not broke or going broke on some Damon Dash stuff, but people have been saying he was having money problems for a while. He brings in a ton of money when he fights but he owes a bunch of people so a lot of it is gone by the time the ink dries.

He has a good businesspeople around him but he still has terrible habits.

He says those sideshow fights are legally robbing the bank but how many people rob banks that don’t need the money?

A lot of rich people do, in fact they rob everything they can when given the opportunity

 

[stepbackj34spud]

Gilbert was talking about much larger monthly expenses and supporting family after contract ends. It’s not so much helping family, it’s how much and for how long.

Let me know if I understood your intial post correctly.

You suggest a player buy his own house(for 1M)? Then setting 20-30k a month aside for his parents? Thats nearly 400 a year.
This is exactly the stuff he was saying to avoid doing in the video. You make it to the league, get a condo or apartment is what hes trying to tell people to do.

 

[lib123]

Let me know if I understood your intial post correctly.

You suggest a player buy his own house(for 1M)? Then setting 20-30k a month aside for his parents? Thats nearly 400 a year.
This is exactly the stuff he was saying to avoid doing in the video. You make it to the league, get a condo or apartment is what hes trying to tell people to do.

That's real, I should've clarified. Honestly I'm speaking from the POV of a player who's earned $100M+ like Gilbert since he's talking. And the monthly amounts are only while player is playing.

 

[Cat piss martini]

dude just gave rock solid game.

 

[stepbackj34spud]

That's real, I should've clarified. Honestly I'm speaking from the POV of a player who's earned $100M+ like Gilbert since he's talking. And the monthly amounts are only while player is playing.

It's rare these players actually see 100plus Ms tho. Gilbert has never seen 100M. There's a thing called taxes.

The video is pretty cut and dry. He's telling you what to do and not to do from experience.

 

[Dark Knyght]

They go broke because they get a 5 million a year contract. And start spending as if they got the whole 5 million in one lump sum tax free. NBA players get paid, bi-weekly with taxes coming out they checks like everyone else.
Then when their career is over, they can’t maintain whatever they bought, which they are still making payments on more than likely and can no longer afford it.

Your best bet as an nba player is live modestly, stack your bred and try to invest in side businesses. You never know when your time is up.

 

[lib123]

It's rare these players actually see 100plus Ms tho. Gilbert has never seen 100M. There's a thing called taxes.

The video is pretty cut and dry. He's telling you what to do and not to do from experience.

That's true but even if you gross $100M and get $50M after taxes, you can still easily afford to buy your parents a $1M house and give them $20-30K per month while you're playing.

 

[CashmereThoughts]

57:40 mark

1st year your buying your parents $3-4 million dollar house

 

[CashmereThoughts]

This guy paid over 50g a month to have a shark aquarium

idiot shyt

 

[Saysumthinfunnymike]

Its real simple. The vast majority of people think if you make $5 million/year you take home $5 million/year.

but they also set their expenses thinking that they will always take home $5M a year. Then all of a sudden they are outta the league.

 

[Saysumthinfunnymike]

dudes on here are just as bad. Tyler Herro gets this ig model pregnant and they say "shyt i would have too!" but now he's got an 18-year contract. There goes a big chunk of what he takes home. Dummy shyt. All for a nut..

 

[chkmeout]

If he had 100s of millions in the bank he would've shown it off by now.

How the fukk do you know

Some of you nikkas mayne....