Jake Peavy lost $15-20 mill in a Ponzi scheme and the first thing his wife did was divorce him...

[Versa]

15-20 million for a baseball is a lot of money, but not a LOT of money.

Unless he spent his career savings WILD reckless, he will be fine.

Sucks about his marriage though.

 

[ezrathegreat]

As she should. Anybody getting finessed out of 20 million definitely shouldn't be in charge.

 

[duncanthetall]

You need a financial advisor for your financial advisor with that kind of money. And I'd have someone secretly checking in on both of them.

 

[Big Boss]

These financial advisors

 

[pete clemenza]

$15-20 million gone

 

[TheGreatShowtime]

If she told his dumbass not to invest in an obvious ponzi scheme, then he needs to take the L

 

[The War Report]

Financial advisor is a term that doesn't mean shyt. You need a fiduciary.

 

[yseJ]

dude was good for Giants in 2014 and he was stealing money in 2016...but still...

 

[IsThatBrothaMouzone?]

You get someone to advise you, but never sign anything. If they need signatures and account information......forget it.

Honestly, you're better off sticking it in the bank until you figure out how to invest it safely for yourself. A good CPA, for tax reasons is probably more important than a financial adviser. Jeter had it right. Don't worry about marriage until your career is over and done.

 

[the cool]

Why the fukk are these dudes investing in money when they already have so much?


Just sit and chill on your millions bro

 

[Ohene]

15-20 million for a baseball is a lot of money, but not a LOT of money.

Unless he spent his career savings WILD reckless, he will be fine.

Sucks about his marriage though.

yea

depends though...ppl gotta remember that them salaries are taxed. so if a third of his 120M in earnings went to tax...80M is left. 20 million from the ponzi scheme...that leaves 60M left. The question is where the rest of that 60M went lol...hopefully he invested wisely in blue chips/real estate/bonds at the very least

 

[yseJ]

Why the fukk are these dudes investing in money when they already have so much?


Just sit and chill on your millions bro

they get indoctrinated with the whole 'make more money off money you have' shyt.

they could just put 10 milly in savings account with 1.4% ypa and get cool 140k of taxable income each year doing absolutely nothing. if theyre paranoid about banks failing (which would be a huge, life-changing event here in US), just divide it up between savings accounts so you have 250k federally insured in each

 

[ExodusNirvana]

One of the first things everyone on here tells athletes is to get financial advisors. Then when they get one who straight up defrauds them and even forges their signature on things you guys are switching up? These athletes are very much victims and I do feel bad for them. The shyt is fukked up.

There are tons of LEGIT FA's with sterling reputations

The problem is the athletes see or hear that this dude or that dude can get you this much in returns and they go

Meanwhile, the shady FA is like

These athletes in NCAA need to be studying BUSINESS in undergrad so they can learn to spot the sharks

 

[YourMajesty]

Legendary song! Should have won a Grammy

 

[Malcolmxxx_23]

"he came home to divorce papers served by his high school sweetheart, Katie. It effectively was a lit stick of dynamite blowing apart what he treasured most in this world: family life with his four boys, now ranging in age from three to 16."


GMB