Joe Smith is broke

[mastermind]

Actually, Glen’s dumb ass took him back after a year in Detroit and gave him $34 mil over 6 years.(he eventually traded him in the deal that got them Sam Cassell)

Damn, I forgot about that.

He never got a big deal though. When you not a superstar in the NBA, shyt is really all about timing. That was the right time to get paid, and he never got close to that again.

 

[NV-ME]

i cant be THAT much smarter than these niggs, so ima just take a shot in the dark here and assume ive never had the platinum a-1 puss some of these dudes have had that allow them to trick loads of cash on a chick. i know its other shyt they spend money on too, but dumping millions into a woman that wasnt even there before the rise w/ nothing to fall back on? gotta feel like sliding in and out of cashmere. hopefully when/if i experience that type of snatch all my valuables are locked in the safe and ive forgotten the combination.

 

[mr. smoke weed]

Well that sucks for him. Does the NBA not have a 401k or some shyt?

 

[G.O.A.T Squad Spokesman]

I tried to get an autograph from that nikka when I was a kid and he rolled up the windows and dipped out on me and like 7 other kids...I been on some fukk him shyt ever since.

 

[RubioTheCruel]

Well that sucks for him. Does the NBA not have a 401k or some shyt?

They do actually and it's a really good one:

NBA: After three years in the NBA, players are eligible for the pension plan. Just like all of the other major sports leagues pensions, the NBA pension is only based on years of service and not performance or size of original contract. Players can start receiving benefits at age 50, but if they wait till age 62 the amount increases drastically. A retired player that was in the league for the three year minimum would receive an annual payment of $19,160 a year at age 50, but would receive $60,000 if they waited to collect until age 62. In comparison a player in the league for 10 seasons would receive $200,000 a year if they waited until age 62 to collect their benefits.

The NBA has a very generous 401k plan. It matches their athlete’s contributions at 140%. This means that if a player contributed $20,000 to their 401k plan, the league would contribute $28,000 to your retirement plan. Most people would be happy with their company just offering a 50% match, but 140% is just astonishing.

A new post career program started in 2013 that provides for annuities to be purchased on behalf of eligible players each season that will pay monthly income to players following their careers through age 50.

 

[Copy Ninja]

How do you not keep at least $1 million stashed away after making $60 million over the course of a career?

These nikkas are idiots.

Breh, there's a thread that talks about Suh talking like paying taxes is something foreign

 

[tremonthustler1]

I tried to get an autograph from that nikka when I was a kid and he rolled up the windows and dipped out on me and like 7 other kids...I been on some fukk him shyt ever since.

Turned down $80 mil from y’all too. That Warriors era was rough.

 

[mamba]

i cant be THAT much smarter than these niggs, so ima just take a shot in the dark here and assume ive never had the platinum a-1 puss some of these dudes have had that allow them to trick loads of cash on a chick. i know its other shyt they spend money on too, but dumping millions into a woman that wasnt even there before the rise w/ nothing to fall back on? gotta feel like sliding in and out of cashmere. hopefully when/if i experience that type of snatch all my valuables are locked in the safe and ive forgotten the combination.

That’s part of it. They blow a lot of money tricking off on women.

Most athletes are lames. Never had to develop personalities, as their talent has always drawn people to them by default.

 

[King Poetic]

how can moniece slaughter milk u for cash when she herself is broke and running around for the last few years jumping from couch to couch.


Anyway only $3,000 in his account

Probably investing in bad shyt like a record label, taking broke friends and family advice about investing into a car wash or giving them cash. Probably after almost 20 years don't own the house he in and paying a hell of property taxes and finally over spending money on hoes and the night life.

Wife like at least she by his side

Hope the brother well but man only $3000 in your bank account..

He need to call the dude from the spike channel life or debt

 

[RubioTheCruel]

That’s part of it. They blow a lot of money tricking off on women.

The formula is pretty simple and it goes something like this: retire from sport but don't scale back lifestyle + divorce/alimony/child support + bad business investment(s) = broke

 

[King Poetic]

Here it goes

There were the homes purchased in every city he played in (12 total), many of them paid for in cash. There was “quite a bit of jewelry.” And there was the Chevrolet Corvette, the Mercedes-Benz SL 500, the Mercedez-Benz S 600, the Bentley, the Porsche Panamera and the two Range Rovers.

(Left unmentioned was the $100,000-plus Smith claims his ex-girlfriend, “Love & Hip Hop Hollywood” star Moniece Slaughter, bilked him out of between October 2011 and March 2012.)

 

[G.O.A.T Squad Spokesman]

That’s part of it. They blow a lot of money tricking off on women.

Most athletes are lames. Never had to develop personalities, as their talent has always drawn people to them by default.

Facts. Hoes are a huge expense.

 

[Luck]

He’ll be aite. He played 16 years and pensions are based on how many years you worked so I’m sure that NBA pension is gonna be nice.

Just gotta live a modest life until then If he that broke, get a high school coaching gig or something

 

[who_better_than_me]

I turned 30 last year. When I was younger I used to be surprise about these goin broke stories but after living life and I know these are just ordinary ppl but I seen a lot of peers be in good position and now broke back at their parents house and selling food stamps.

No matter what tax bracket you in, ppl goin live above their means.

A thousands, a millionaire or a billionaire all goin live above their means. Hell last year I was winning good at Maryland casino live and a homeless person’s ribs asked for some money to get some thing eat. I gave him a 20 and instead of goin to McDonalds or Wendy’s, this dude took that 20 to the Cheesecake Factory.

And your partner don’t help you out. Cuz 9/10 they want to live it up too. When me and my broad separated for a year, that was the most prosperous time of my life financially. Because I don’t care about my outward perception. When I fly out somewhere and rent a car I get a regular midsize car. I see ppl renting corvettes and drop tops for triple the value for one of two days. And then ppl look at e like I’m some drug dealer cuz I have a luxury apartment(not a house but a apartment), two cars, and have lived in my own since I was 22. The worst is my siblings. Like they love me, but as we gotten older they say and do a lot of slick funny stuff towards me. Especially the older ones.

 

[ReturnOfJudah]

Here it goes

There were the homes purchased in every city he played in (12 total), many of them paid for in cash. There was “quite a bit of jewelry.” And there was the Chevrolet Corvette, the Mercedes-Benz SL 500, the Mercedez-Benz S 600, the Bentley, the Porsche Panamera and the two Range Rovers.

(Left unmentioned was the $100,000-plus Smith claims his ex-girlfriend, “Love & Hip Hop Hollywood” star Moniece Slaughter, bilked him out of between October 2011 and March 2012.)

He should be straight if he owns 12 houses and a lot of jewelry. Something ain’t adding up