Joe Smith is broke

FreshFromATL

FreshFromATL

Self Made
Joined
May 1, 2012
Messages
19,494
Reputation
2,465
Daps
43,135
Reppin
ATL
shyt, it has to suck being a 90's athlete (or entertainer period). Those are the cats that started seeing millions first and for the most part, they were unprepared to handle it. I think this generation of athletes is MUCH better with their finances but I feel for dudes like Joe Smith. I mean who was he going to learn from? And the "advisors" that were giving him "advice" were likely swindling him, smh.
 
Mr. McDowell

Mr. McDowell

The Brotha's Got His Own Money
Joined
Nov 17, 2016
Messages
1,983
Reputation
380
Daps
6,251
Reppin
Jamaica Estates
Stuntone said:
Besides taxes, another big issues causing the famous and rich to go broke is avoid broke people and fans.

You can't fly coach, you can't eat at Chipotle without being mobbed. You can't live in a upper middle class home. It cost to be discrete. If you party, you have to get valet everytime, you have to be in VIP. Then you usually have to have some type of security most public places you go. The money goes fast man. Than family and friends. It's not like you want to be a lone during your off time. You want female, friends and family around. You think they're paying to take off from work, to fly out and chill on their own dime? You got to take care of them.

And Im not sure if the team pays for their food and logding on the road. If not, that's a lot of money.

It's probably impossilble to spend less than 5 mil a year as a famous athlete.
Click to expand...


NBA athletes get free 5-star hotels and travel + plus per diem which is anywhere from $125-250 a day, not to mention the team meals before and after games. When I worked on a Disney movie, Disney only gave me $37 dollars per day in per diem and I was living in another country for 5 months. Being frugal is not something everyone wants to do, especially a 20+ athlete.
 
mozichrome

mozichrome

Veteran
Supporter
Joined
Oct 17, 2012
Messages
79,886
Reputation
2,645
Daps
111,377
Reppin
NULL
Damn that sucks

But I was reading that Bosh article somebody suggested in another thread on here

These dudes get this money and really don't sit down and go over their finance throughly. It took Bosh till he was out the game to finally take his finance seriously

And we read stories like that so often when these athletes go broke

Plus I'm sure the NBAPA have resources for players
Sucks if players don't take advantage
 
O

Originalman

Veteran
Supporter
Joined
May 15, 2014
Messages
47,127
Reputation
12,140
Daps
204,706
RubioTheCruel said:
A lot of these cats have zero understanding of how their finances work. Who was it that tried to cash his first NBA check at a check cashing spot? I think it was Z-Bo.

Broke should be required viewing at all pro sports rookie orientations.
Click to expand...

I wouldn't use ZBo as an example. During the lock out it was found out that he was one of the most prepared players to actually be able to wait out for years.

The media loves to play up on these black athletes being bad with money. Cause they rarely talk about the ones that are good with their money. Anyway during the lock out some slick joker asked ZBO how he was fairing and dude was like...:yeshrug: aint shyt changed. I been saving up for years for the very day.
 
ezrathegreat

ezrathegreat

Veteran
Joined
Oct 14, 2015
Messages
9,752
Reputation
4,935
Daps
65,017
point-and-laugh-reaction-gif.gif
 
You must log in or register to reply here.
Top