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”

[King Poetic]

Here’s the perfect example right here

 

[O.Red]

Yall say anything sometimes, without taking into account, simple circumstances.

Thing about yourself at 21/2/3/4 and someone gives you a 100 million.

Stop infantilizing adults Why aren't there stories about white players going broke? We can talk about this being an education issue but at some point grown men are grown

We know why these athletes go broke

-Trying to live the rapper/Big Meech lifestyle (we gotta talk about the damage Meech has done to the black community)

-Gotta buy mama a house
-Gotta buy your own house, multiple cars
-Investments(can go really good but usually goes really bad)
-Trying to save the whole hood

So yea if you buy your mama a house and all your siblings cars and spend $20k a month on clothes and shoes and got 3 baby mamas and gave your cousin $150k to open a grilled cheese sandwich restaurant that failed in a year you might run through your millions. Then every NFL player ain't clocking 9 figure deals so they're out here doing that shyt in 4mil a yr or less

Ether way this is an education/culture issue. There are plenty of athletes that also got paid at those same ages and they didn't blow it

 

[JuvenileHell]

lol yeah it's only generational wealth after taxes, these nikkas can't be serious

 

[Legend27]

The bare minimum salary puts them in the top 1% nationally there is no rational reason as to why these players struggle with that much money or go broke lmao

 

[In The Zone '98]

These dudes get paid $300k every two weeks. There's no way money is supposed to run out

 

[UncleTomFord15]

Hes right

 

[Jean toomer]

The lack of self awareness and accountability with this guy is astounding.

 

[Jean toomer]

These dudes get paid $300k every two weeks. There's no way money is supposed to run out

If your cash flow is inneficient it doesn’t matter how much you make. You’re frame of reference is a lot different than his. This man probably has monthly expences that he’s NOT aware of that are équivalent to you’re annual salary.

 

[King Poetic]

Stop infantilizing adults Why aren't there stories about white players going broke? We can talk about this being an education issue but at some point grown men are grown

We know why these athletes go broke

-Trying to live the rapper/Big Meech lifestyle (we gotta talk about the damage Meech has done to the black community)

-Gotta buy mama a house
-Gotta buy your own house, multiple cars
-Investments(can go really good but usually goes really bad)
-Trying to save the whole hood

So yea if you buy your mama a house and all your siblings cars and spend $20k a month on clothes and shoes and got 3 baby mamas and gave your cousin $150k to open a grilled cheese sandwich restaurant that failed in a year you might run through your millions. Then every NFL player ain't clocking 9 figure deals so they're out here doing that shyt in 4mil a yr or less

Ether way this is an education/culture issue. There are plenty of athletes that also got paid at those same ages and they didn't blow it

Exactly look at this former player who didn’t make those numbers …..

Though athletes make crazy amounts of money, their careers don't last forever, so if they don't responsibly spend and invest that money, they could (and often do) run into financial troubles after retirement.

But Ryan Broyles, a wide receiver for the Detroit Lions, is hoping to escape that fate.

"He knew NFL players, and athletes in general, go bankrupt," ESPN's Michael Rothstein writes. "He saw athletes blow through millions. He was determined not to have that happen to him."

Though Broyles signed a contract worth over $3.6 million — with over $1.4 million of that guaranteed — he decided to support his family on an annual budget of $60,000.

The rest of that money, he says, is going into investments and retirement savings to secure his post-football future. Broyles declined to give ESPN specifics about his investments.

"Whatever comes, it's just a blessing," Broyles told ESPN. "But I got the mindset of a businessman off the field, I'll tell you that.

"The pressure I put on myself is just being the best player I am," Broyles added. "I would never play [just] for money, you know what I mean — that's not my intentions whatsoever."

The wide receiver says he checks his investments daily using a mobile app and takes advantages of everything to increase his savings, including the NFL's matching 401(k) plan. He even traveled to Washington, D.C., in March with New Orleans running back Mark Ingram to speak with students about financial planning.

 

[Piff Perkins]

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.

Middle class life to make 60mil work? Are you trolling?

You can live in a multimillion dollar house, have nice cars, and live very comfortable off that. Anywhere in the US including NY and LA. And when you add endorsement money it’s even easier.

The problem is these guys are stupid and they’re obsessed with matching other rich people. Meanwhile their white QB is walking around in old jeans and driving a 100k truck.

 

[In The Zone '98]

If your cash flow is inneficient it doesn’t matter how much you make. You’re frame of reference is a lot different than his. This man probably has monthly expences that he’s NOT aware of that are équivalent to you’re annual salary.

Unfortunate

Higher earners can easily save 50K per check

 

[jadillac]

If you're trying to keep a 60 million dollar lifestyle on no income, or drastically reduced, well yeah, you have to adjust. Duh.

These dudes get so spoiled and develop unrealistic mindsets.

Also, if you make that much, your house should be paid after a year or two and you should have money making you money

 

[Conan]

Yall say anything sometimes, without taking into account, simple circumstances.

Thing about yourself at 21/2/3/4 and someone gives you a 100 million.

Exactly

They are setup to fail

Most Americans at all income levels struggle with balancing consumption vs savings.

Why would athletes be exempt?

 

[☑︎#VoteDemocrat]

Bruh, what type of shyt do you really want to buy at that level?

 

[Your Welcome]

these dudes grew up too broke and poor to be talking this nonsense.

*to

*too