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”

[Cynic]

Age is no excuse…

Get a financial planner. Live below your means. Live off your endorsement money & not your contract…


Absolutely no excuse to be broke if you seeing 100 ms

Slap it into an ETF and some foreign govt bonds - maybe a stablecoin if you like and some angel investments.

Financial planners are some of the biggest thieves out there. You have to hire another just audit the fukkery from the first.

 

[DaHNIC82]

Nikka talking about only $60 million. He asking to get robbed

 

[beenz]

I was watching the show LandMan and the way they put even 500k in perspective was just crazy.

Maybe not in major cities, but there are places where you can just buy your house cash and not really need to do a fukking thing but buy groceries and maintenance.

These clowns too busy trying to “look” a certain way and keep up with the joneses, with no care or concept of the future.

my house is worth maybe 350K and I owe 169K on it. I plan on paying that shyt off within 5 years once my youngest is done with school and what not, and I probably will never move again either. no need to "upgrade". no need for a fancy whip. I'm just gonna invest and save more money until retirement. if I can get around $2.5M in my retirement, I should be able to live off 100K passively with no mortgage without even having to touch the principle.

 

[Heretic]

using my current high yields savings rate of 3.65%, a lump sum would generate $1.825M in passive income in the first year alone with it increasing each year. if you can't live off that,

$1.825M per year for life is FAR more than a middle class lifestyle.

Because you're smart. I'd be hard pressed to blow that kinda money too but we're talking about people that don't have the mindset that you have, hence why so many go broke.

 

[lib123]

What he said is the absolute truth though. He didn't say it wasn't a lot of money, he was pretty much saying it's hard to make it last if that's ALL you have and you try to keep a certain lifestyle forever. Plus he was talking about a 5 year contract; you would have to live a middle class lifestyle to make that be generational money. Most people don't have that kind of discipline, especially if you are expecting that contract to be the 1st of a few instead of your only contract.

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

You're right on the math aspect.

However these athletes don't do all that hard work to live on 6 figures after tax (for the rest of their life). They don't see life without the chains and the cars and balling out (beyond what a 6 figure breh is accustomed to).

What they don't realize is that their earnings are limited and it is very likely they they'll have to choose between a comfortable, mediocre (in their eyes) high 6 figure lifestyle for the rest of their lives, or have 5-10 years where they live like rockstars, and scrounge for funds once their fortunes and careers peter out

The right choice is the first one. But again, I understand why athletes choose the latter.

of course...but its deeper than that...them nikkas are just lames.
i said save half of $12MM a year...thats $6MM. You can live an ultra extravagant life with that if you know what youre doing.

instead, these clowns are buying hoes cars, purses and jewelry, taking them on expensive vacations etc. not realizing that theyre the prizes. instead they are buying clothing that's ostentatious and will be out of style in a year or two. instead theyre buying jewelry with no resale value. instead theyre buying whips they will barely drive and lending all kinds of family members and friends money etc.

Take zion williamson for example. when this dude was at Duke, he flew a chick i used to fukk out to visit him. This is a chick I fukked without even buying her as much as a coffee if i recall correctly. she was just very attracted to me. If you got p*ssy before fame, you know you dont have to do or buy all that sucka shyt to have fun and attract women. But a lot of athletes are just lames with talent and trick.

Perfect example is this clown below:

What really gets these athletes caught up financially is supporting 50-70 relatives, friends and sidechicks at a given time. That's why when they go broke they don't really have anything to sell off. A large chunk of their money went towards supporting people. Their families tax them.

On his podcast Lou Williams said the experience White players have entering the NBA is totally different. He said Korver was genuinely surprised by players financially supporting their parents and extended families. White players live in apartments, with roommates or with family for their first few years and no family asks for anything.

 

[lib123]

Take zion williamson for example. when this dude was at Duke, he flew a chick i used to fukk out to visit him. This is a chick I fukked without even buying her as much as a coffee if i recall correctly. she was just very attracted to me. If you got p*ssy before fame, you know you dont have to do or buy all that sucka shyt to have fun and attract women. But a lot of athletes are just lames with talent and trick.

Lol what's her IG?

 

[SoSoSlick]

Its crazy, but I bet these nikkas that go broke mostly have family and friends on the same type of time when they are on their way. Lookin at the athlete as the meal ticket, guilt trippin them by "supporting" them, so they feel obligated to give back once they get millions. Your average $100k breh has nowhere close to the same pressure applied. I can imagine it would be pretty tough to not wanna look out or see your close friends struggle while you got millions in the bank.

Still no excuse at all for blowing that amount of money with no businesses or investments to show for it. "Make your money make babies" is a phrase that has stuck with me everyday in life since Pops hit me with that when I got my first job at 14.

 

[WIA20XX]

Me if I had 60Ms to spend

Also me

 

[King Poetic]

Marshawn lynch kicked game and his nfl earnings was 58 million

 

[Ohene]

What really gets these athletes caught up financially is supporting 50-70 relatives, friends and sidechicks at a given time. That's why when they go broke they don't really have anything to sell off. A large chunk of their money went towards supporting people. Their families tax them.

On his podcast Lou Williams said the experience White players have entering the NBA is totally different. He said Korver was genuinely surprised by players financially supporting their parents and extended families. White players live in apartments, with roommates or with family for their first few years and no family asks for anything.

Dont get me started on this lol

 

[Big Boss]

Most athletes go broke after retirement

 

[karim]

Lmao, even if you invest very conservatively at as low as 1% interest, you would get 600.000 Dollars a year and could live a decent life without ever touching the 60 Million.

 

[Don Homer]

What he said is the absolute truth though. He didn't say it wasn't a lot of money, he was pretty much saying it's hard to make it last if that's ALL you have and you try to keep a certain lifestyle forever. Plus he was talking about a 5 year contract; you would have to live a middle class lifestyle to make that be generational money. Most people don't have that kind of discipline, especially if you are expecting that contract to be the 1st of a few instead of your only contract.

therein lies the problem.

 

[Devil Plisken…CMS]

Hes right

A couple of things that infuriate nikkax

Other nikkax tricking on p*ssy
Other nikkax taking in single moms
However nikkax who have way more than them choose to spend their money

 

[Shadow King]

Y'all are applying 45 year old logic to people who hit a lottery at 21 and a Powerball at 25...