MasterOfAllHeSurveyz
All Star
That's why I put SPYD, not SPY. Read again.
Is there any excuse for the modern nba player to go broke after retirement
- Thread starter Jalether
- Start date
Not necessarily. The government would nationalize JP and wipe out shareholders while maintaining operations and protecting deposits. But you're right, it is very safe. And they go broke because they're financially supporting too many people, which is understandable given most come from poverty. What isn't understandable is all the tricking these dudes do on women.
Another misconception is people pointing out players making more than ever as a reason most won't go broke. But Baron Davis made a good point how the early 2000s max deals were about the same as current max when you adjust for inflation. On average a house that was $100K in America in 2000 is worth $300K now.
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Yup.
Cats spending money on shǐt that isn’t remotely close to necessary.
Get married? For what when you know you gon cheat. Might as well pay for mid tier escorts that you smash 2-4x a week and don’t have to deal with instead of being like Zion and seeding up porn chicks who are looking for a lifeline out of the industry.
I prefer SCHD. The yield is lower but the capital appreciation is better. 5 years ago SCHD was like $50 and it's now $76. 5 years ago SPYD was $30 and it's now $39.
IsThatBrothaMouzone?
Veteran
This 100%.
I'd use escort websites and find the 35+ year old pros that charge $250 to $400 max. The kind of broads that just wanna make their money, drive a nice little ride and pay for their condo. They have zero interest in being famous or popping out athlete babies.
IIVI
Superstar
The biggest thing are the wive(s), kid(s) and taxes. Not to mention the extra expenses most people don't have to pay for.
Literally nearly half your paycheck goes back to the government. Then another half (or multiple halves) for kids.
Agents and extra people you got to hire to manage and keep you in shape/check.
Literally nearly half your paycheck goes back to the government. Then another half (or multiple halves) for kids.
Agents and extra people you got to hire to manage and keep you in shape/check.
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For real.
Have all of these chicks sign NDAs even tho whoever they are working for already has told them don’t say shĩt or else. Pay the “agency” for a year upfront so you aren’t constantly dealing with payments. Have a middle man pull up and pay with a money order and tell them exactly the kind of chicks you want.
Get you some present day Keri Hilson looking ass chicks who can’t compete with the young thots but still look good and ain’t getting wifed any time soon — if ever.
Then, like many tennis, golf and baseball players I would try to establish residency in Florida for tax reasons so I can hold on to more of my bread.
/thread
Bryan Danielson
Jmare007 x Bryan Danielson x JLova = King Ghidorah
Also find some mid to low level product they can be the sportsman for and endorse.
Doing those few commercials a year and having their likeness on ads will definitely keep their pockets lined, even when the game is over
This is the part that somehow is still overlooked. If you make $60 mil a year, you will be lucky to see $25 after federal and state taxes (even in yours dont have em you gotta pay in every state you play games in). Then you got agents and other people that work for you like you mentioned. So if you living like you making an actual $60 mil its easy to get fukked.
Godless Socialist CEO
Superstar
depends, for instance I think I read something about the deep bench guys on Golden state qualify for financial assistance from the state because of the cost of living out there.
IIVI
Superstar
Yup exactly.
There was an actress not too long ago who broke down her financials. She said her 14-year acting career to that point has really equated out to about $150k/year after all the taxes and extra people got their's (which probably is a little more in Hollywood/glam industries).
However, agents, lawyers, personal skill trainers, etc. Maybe you need a special doctor. Then extra things like acting coaches and the like are all things a player might additionally spend on. The extra house out in LA that you also pay people to maintenance, the extra house that you buy for your family/friends, the cars, etc.
Then yeah, 1 or two kids/drama, cost of living if you're in an expensive city, etc. and your salary starts to look pretty so much so to the point that one or two bad decisions may jeopardize what you have.
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That's true. I'm a young breh but I'm sure when the Coli OGs heard Larry Johnson was getting an $84 million contract in '93 that sounded like Jaylen Brown getting a $300 million contract last year. And LJ went broke.
Also, blame rappers and moguls like Birdman that make a lot of young black players pressured into stunting like him, in order to be authentic to the eyes of many.