Joe Smith is broke

[Bigblackted4]

So the chick Moniece Slaughter who stole his money is a lesbian. She conned him from day one. Good luck to him and his family on bouncing back.

She’s a love and hip hop hoe

 

[Bledswole]

Boy you are an idiot, the number 9 contract came from someone in Joe Smith's era. Boy I said that yeah they get paid more today but these aren't the old heads that would be mad because they (Joe Smith's era) got paid too. Isiah Thomas got paid 15 million over his career, compare that to Joe Smith getting 60 million, that is where old heads would be mad, an all time top 5 PG getting paid a fraction of a fringe player in Joe Smith. Russell Westbrook would get significantly more money than Joe Smith if he was in his (Joe Smith's) era too, how dense do you have to be to understand that.

Yea you real stupid I see

 

[Standing on business]

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.)

If he has 12 homes paid for then he shouldn't be broke. They'd be worth way more than what he paid too. I need the real story on that

 

[SuperPawgHunter]

I make a GREAT living. Haven't come close to sniffing what Joe Smith has made, but still ...

Point is, I'm glad my business didn't take off until I had become wiser and more comfortable in my own skin.

Most people do not understand the social pressures of having money. People are fukking on you like flies to shyt. Some situations are crazier than others, but many are very unenviable. I don't flaunt like I could, but it is obvious I'm doing well - and the amount of women 'making eyes' at me in public, and doing little silly shyt to get my attention makes me want to puke, at times. Prior to my business taking off, I got attention from women, but I was not the guy that all the women in the room had their eye on. That shyt changed overnight. I hate 'fake love' to my core. I know it has nothing to do with me, and everything about what they hope I can do for them.

Some dudes can't handle that. Most dudes couldn't. I will admit, the white women are a hundred times worse than the sistas, on average.

Oh ... and family?

Worse than the women. Damn near everybody in my family has helped me at some point on life, no matter how small the help may have been. Whatever anybody did for you, expect them to equate that to donating a kidney, even if they only took you to work twice. Unless you're cold-blooded, when you see family struggling, your mind naturally go back to when they helped you. Once they realize they can get you, THEY. NEVER. STOP. COMING.

Then there is the pressure to look like you're living it up. When you're in your late-teens and early 20s like a lot of these guys, you aint' thinking about financial literacy. You're thinking about ball, balling and bytches.

Fair or unfair, as a young athlete, who spent so much time trying to be great at their sport, and not be financially literate, and trusting people who SEEM to have your best interest in mind - you can get fukked up. There are some smooth talkers out there, man.

 

[UpAndComing]

All the time they ask for money and for simple stuff. Like to pay for their Uber car, or they want to take their kid to movie. giant have that club membership joint where when you buy groceries as member you get money off of gas. They always enter my membership and taking my gas discount. Mofo’s get hella food stamps. Never use it all but then always trying to sell it to me instead of just letting me use it. I don’t even want to answer the phone the first 5 Days of the month. They think I got it so easy. Me and my sister went to the mall recently and we went to my crib afterwards and they already in my crib and I still have to go back out to get bags so as I’m coming back to the crib with some bags, they getting ready to eat and I hear my nephew say to my sister to be careful eating in my living room so she don’It waste the Mumbo sauce on my carpet and couch and I hear my sister respond don’t worry about it, he aight, whatever I mess up he can pay for it to get cleaned by a expert. Or when we go out, instead of looking for the free parking like everybody do they go straight to the meter and always ask me to pay it. I don’t mind paying if it ain’t no free parking but they don’t even try whenever I’m around. Whenever we go out and they want something to eat and they ask if I’m paying, if I say yes they want to go to an expensive. But if they paying its mickey D’s or even Sam’s club.

So much much more lil stuff I was olblivious to until my broad and even my mom or grandma put me up on. Sad thing is most of the time I just go along with the shyt because it’s whatever they my brothers and sisters

No offense breh, but you sound like a pushover. Cut them out of your life financially and change all of your credit/debit card numbers. And change the locks in your crib also

 

[NinoBrown]

Not surprising:
a) Half Going to Taxes - 30 Mill gone right there, property taxes on 12 spots, lets put that in 4 million back taxes....we down to 26 Roughly
b) Interest on Loans probably due to creditors after default - 10 milly
Just off principal BS of taxes, loans, and defaults, we are down to less than half (16 Million)
c) Sugarbabies, Thots, Mistresses, Jump Offs, Tricking, Babies, Childsupport, Making it Rain
d) Bad business deals
e) Whip Game
f) Greedy/Broke Family not doing layups on the court with you, but wanting "help"

Yeah, he is broke because he didn't have the right support team with him, plain and simple. A bunch of "yes" and your boys from the block will co-sign for you ordering 10K worth of food at Cheesecake Factory, but disappear when the money stops pouring in.

Many athletes and entertainers in the limelight don't prepare for the decline of their career as they imagine big contracts will be perpetual. 60 or a 100 mill isn't permanent and of limited opportunity.

 

[Suleiman Bey]

If he has 12 homes paid for then he shouldn't be broke. They'd be worth way more than what he paid too. I need the real story on that

You're wrong on so many levels.

 

[MikelArteta]

I can see why some athletes go broke, you go from making millions per year to retiring and having nothing come in yet you probably haven't fully made the transition from say making 5 mill a year to making nothing. So your expenses are still the same joe smith last played in the nba 8 years ago, he probably hasn't worked a normal job since then but money was continuing more than likely coming out at the same rate or even worse.

Esp as a athlete when you retire you're in your 30's

 

[Standing on business]

You're wrong on so many levels.

Ok

Too many factors that none of us know

 

[daboywonder2002]

When homie started crying during the trailer you can hear the pain in his voice. It's one thing to be broke your whole life, but to work your way up to being rich to then falling back down to being broke again . That slide back to the bottom has to be excruciating

Not just that. but he NEVER had that big payday. Has to be sad seeing Sheed and KG get big bucks yet you're the number one pick and not sniffing close to that money

 

[daboywonder2002]

I can see why some athletes go broke, you go from making millions per year to retiring and having nothing come in yet you probably haven't fully made the transition from say making 5 mill a year to making nothing. So your expenses are still the same joe smith last played in the nba 8 years ago, he probably hasn't worked a normal job since then but money was continuing more than likely coming out at the same rate or even worse.

Esp as a athlete when you retire you're in your 30's

Same with actors and actresses. Like I dont get why you would continue living LA if you not getting steady gigs. Move to Atlanta or a city with a lower cost of living and go from there. they would rather live in LA paying 10k per month for rent.

 

[MikelArteta]

Not just that. but he NEVER had that big payday. Has to be sad seeing Sheed and KG get big bucks yet you're the number one pick and not sniffing close to that money

thats why if your not the best you sit and learn and then become an assistant coach work you way up to a hc, or even a nice 6 figure analyst gig

 

[FlyRy]

A lot of these mid 90s dudes went broke.

 

[surv2syn]

Breh, he made $60 million over a career.

exactly. sorry, but no way I could "lose" 60 mil. first I wouldnt spend it all, especially on a bunch of crap with depreciating value. most importantly I would have several businesses, franchises, plus money in accounts earning interest. there are plenty of people who have done this, Magic Johnson off the top of my head being one who was hellbent on being a businessman outside of the NBA.

 

[Rell84shots]

It's easy to say what other people should do with their money when it isn't ours.

But a lot of these athletes go broke trying to stunt for strangers and support every member of their family. They also let these shady investors talk them into "can't miss" opportunities that always end up failing, there's nothing wrong with letting your money just sit in the bank.