Is there any excuse for the modern nba player to go broke after retirement

[Shadow King]

I didn't mention they get all this money immediately. Obviously it takes a few years. It doesn't change the fact these athletes are massively overpaid and it takes a special kind of idiot to blow it all over their 10-15 years of career.

You didn't have to mention it, it's the general sentiment that flows in this topic. You listed a handful of things you believe these athletes should be able to enjoy, but those things cost money, and likely more money than you think it does.

 

[Damnshow]

You didn't have to mention it, it's the general sentiment that flows in this topic. You listed a handful of things you believe these athletes should be able to enjoy, but those things cost money, and likely more money than you think it does.

The things I mentioned don't cost 100 million in 10 years is what I meant. Of course it costs a few millions but not that many millions.

If a basketball player spent only couple years in NBA, they can go broke fast if they make a few bad expensive purchases.

 

[Shadow King]

The things I mentioned don't cost 100 million in 10 years is what I meant. Of course it costs a few millions but not that many millions.

If a basketball player spent only couple years in NBA, they can go broke fast if they make a few bad expensive purchases.

And you're ignoring that this 100M you're bringing up doesn't flesh out to 100M in 10 years. We've already seen how athletes get taxed.

It's also ignored that even coming into the league, you get drafted and have not played a game yet to get a check from. You're incurring debt to buy your house, buy your couple of cars, buy your mama's house, buy your clothes and accessories.

Those 400K checks on a rookie scale don't hit the same when you're millions in debt out the gate.

 

[Big Boss]

Man, its not about adjusting their spending. Its about after you retire/take pay cuts, now you have to:

-lower/close your circle of people you were supporting. They still think you getting this money
-and, you still gotta pay for that stuff you bought for yourself, your moms, your kids, your girl, etc. after you retire. Those bills still due. Those property taxes still due at that level.

Cats spend $10 million when they only have $5 million

Facts your income completely stops when you retire.

These guys don't think about life after the game

 

[Mindfield333]

Man, its not about adjusting their spending. Its about after you retire/take pay cuts, now you have to:

-lower/close your circle of people you were supporting. They still think you getting this money
-and, you still gotta pay for that stuff you bought for yourself, your moms, your kids, your girl, etc. after you retire. Those bills still due. Those property taxes still due at that level.

Cats spend $10 million when they only have $5 million

lol that’s essentially what I said but with more details

 

[Laidbackman]

Yes. Just look at the Big George Foreman movie. This happens all the time. However, you do have a few who blow their money without thinking....but they're in the minority.

 

[Wild self]

Nobody's gonna feel sorry for these goofs for blowing all that money.

You buy a big house, couple cars, some clothes and accessories. Got money to travel places, going out to fancy restaurant, throw a few parties. Got money to invest. Bad investments happen too obviously.

You're not supposed to spoil every muthafukka you ever knew with money. Help your family and closest friends only, when they need money.

Some of these players burn their money fast giving out to everyone, burning money in strip clubs and buying too many cars, too many houses.

If you made about 100mil in your career, even with zero investments. That is so much money you really would need to try hard to spend it all.

Crazy how stunting and balling all goes back to Birdman and Puffy videos from the late 90s/early 00s, and NBA brehs trying to emulate that.

 

[lib123]

I wonder how players like Grant Hill who saved a lot of their money handle former teammates who blew it all asking for help after retirement. Lamar Odom said Kobe wired him some money before he died to help Lamar settle gambling debt.

 

[lib123]

Crazy how stunting and balling all goes back to Birdman and Puffy videos from the late 90s/early 00s, and NBA brehs trying to emulate that.

That Wayne line "it ain't trickin' if you got it" has cost these athletes billions lol.

 

[lib123]

I didn't mention they get all this money immediately. Obviously it takes a few years. It doesn't change the fact these athletes are massively overpaid and it takes a special kind of idiot to blow it all over their 10-15 years of career.

They're not overpaid considering supply and demand. How many people in the world can play basketball as well as NBA players? And to be fair most people would blow their money if they received their entire career earnings in their 20s to early 30s. Most people wouldn't be disciplined enough to save 70-80% of their income.

 

[concise]

Crazy how stunting and balling all goes back to Birdman and Puffy videos from the late 90s/early 00s, and NBA brehs trying to emulate that.

That Wayne line "it ain't trickin' if you got it" has cost these athletes billions lol.

Guys were going broke before Cash Money Records existed and guys not even born yet will also make it and go broke. Especially that gambling is just now taking off for real.

 

[lib123]

Do any of you personally know former NBA or NFL players who went broke after retirement?

 

[lib123]

 

[concise]

Most guys won't earn that kind of contract.

What do you think will happen to the guy who is out of the league in 5, 6 years if he doesn't save?

 

[jwonder]

No excuse. These idiots blew their money on materialistic things and broads.

They literally give you resources on how to save and invest your money.