Odell Beckham explains why $100 million contract isn’t really a lot of money “if you think about it that’s only $60 million after taxes”

[Kyle C. Barker]

He spittin the truth

truueee

 

[O.Red]

These out of touch celebrities and athletes have no idea what's around the corner man

Somebody watched that clip and is definitely considering robbing an NFL nikka

 

[Koapa]

I swear some people are so damn oblivious and tone deaf about society. My goodness.

 

[King_Kamala61]

If fine art increases its value overtime then sure… it’s definitely better than just buying a Bentley.

And that property tax…. Not even trying to judge these dudes but to say 100mil is not enough, idk. Even after taxes, it’s more than enough if you not thinking like a multimillionaire when you are spending it.


At least, not trying to “look” like one

You need the “it’s not enough” mentality when making it maybe, but not with spending it

It definitely will if you buy a blue chip artist.

Genesis Tramaine still has work for the low and her art was literally next to a Picasso.

 

[King Poetic]

Go on YouTube and watch that idiot Rich Paul saying 200 million isn’t enough money when he talk to his nba clients..

What i get now from these type of negros, they is so far from regular people especially poor/hard working folks, that these comments is taking in the minds of black men and women who with they broke ass will make podcast and social media post about 100 or 200 million dollars ain’t shyt..

When 95% of black folks will barely see 2 million in they lifetime

 

[Umoja]

He's right and thinking like that will hopefully prevent him from going broke.

The crux of what he's saying is that their earning period is limited. The fukk up a lot of these celebrities make is assuming the good times will keep on coming.

Unless their money is generating 8 million a year, they can't afford to just keep on buying exotic cars and homes for people they're fond of.

 

[NaijaProdigy Redux]

Some of you all got hooked on the title and not what he actually said.

Odell is actually saying a lot of athletes don’t have good financial acumen and don’t appreciate how limited their earning window is so they blow through contract money like there is no tomorrow.

 

[2 one 3]

only 60 million for playing a kids game

How can one survive…?

 

[Heretic]

If you’re crying over $100 million contract in any sort of way form or fashion that just shows how tone def you are with reality

I don't disagree, I was just stating what HIS point was.

whats a middle class lifestyle to you? nah. a middle class lifestyle is a household making $300K a year in this day and age. Most individuals aint making a $5 million in their lifetime let alone $100MM. You trippin


its really simple. If you got a 5-year $100MM contract, and after tax you make $12MM a year you shouldnt even sniff $5MM of it. It should go in an account that generates 5% interest annually. You do that, by the time that contract is up you'll have. $25MM of principal generating $1.25MM a year (before tax) doing nothing.

thats at a minimum. not that simple but it isnt a middle class lifestyle by any means

Depends on where you live, but you're also asking a millionaire to practice restraint. Easy for us, but maybe not for a new millionaire that's not used to having anything

Then the smartest thing would be to use your highest earning years to establish businesses that are self sufficient, to the point that your paid salary is the smallest part of your wealth.

Ie, what Shaq, Lebron MJ and others have done.

Trying to live like you're always gonna be up is a catastrophic blow to longterm wealth.

That's what a smart person would do.

Shut the fukk up nikka

ok, then add to the conversation instead of making stupid ass comments. You obviously didn't comprehend what I said too well.

 

[SoSoSlick]

Yeah this is nonsense.

 

[lib123]

i get him when he refers to how ppl who arent in the position dont know what its like.

thats completely true...still doesnt justify ever going broke.

if you're making 5 million a year, after taxes, at the very least you should take a 20% of that every year and invest in some low risk, non-cylcical shyt like bonds, high quality dividend stocks (e.g., utilities or telecom companies) etc. Stuff that will generate at least 5-10% a year. You do that and youll never go broke.

People go broke because they stunt, cant say no to family/friends or entrust their money to advisors who do bullshyt with it, its that simple really.

If you don’t downgrade your lifestyle after retirement you’ll still go broke eventually even following that 20% investment approach. They really need to be saving and investing 75% of what they make. Most people aren’t that disciplined.

 

[Ohene]

If you don’t downgrade your lifestyle after retirement you’ll still go broke eventually even following that 20% investment approach. They really need to be saving and investing 75% of what they make. Most people aren’t that disciplined.

i agree. best approach is to never adopt that crazy lifestyle in the first place.

 

[Rekkapryde]

whats a middle class lifestyle to you? nah. a middle class lifestyle is a household making $300K a year in this day and age.

Lol at 300k being middle class. That's smack dab upper middle class...lol.

Probably 50-150 tops is regular middle class. Over that is upper.

 

[Ohene]

Lol at 300k being middle class. That's smack dab upper middle class...lol.

Probably 50-150 tops is regular middle class. Over that is upper.

i feel you. Depends where you live i guess
but if you wanna own a house and children in this city, i think you need at least 200K household income or youre living check to check

 

[WIA20XX]

If you don’t downgrade your lifestyle after retirement

The problem is the upgrade.

Luxuryonce tasted becomes a necessity, a forgotten and unappreciated necessity, until you can no longer have it