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”

[frush11]

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.

Stop making up stuff up.

Athletes in All sports, regardless off Race go broke after retirement.

Stop saying anything because you think it sounds right.

 

[frush11]

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

Just stop it, you sound silly

And the numbers for White athletes is literally the same. This has nothing to do with race at all.

But keep on.

It so funny how little Black folks think off each other

 

[popogogo]

 

[Rayzah]

He still has over 40 million after taxes...you don't need a big ass house or a mansion

It’s enough to buy one big house and one super car in cash. You even have enough to give your family and friends some money. The problem is these dudes expect to live off the 100M or 40m for the rest of their days.

They have no plans on how to continue generating income. They don’t understand taxes and they never learn to stop trying to keep up with the jonese.
If I had 100 million at 25 I would probably blow it too especially if I never learned to do anything else to generate more money

 

[King_Kamala61]

It’s enough to buy one big house and one super car in cash. You even have enough to give your family and friends some money. The problem is these dudes expect to live off the 100M or 40m for the rest of their days.

They have no plans on how to continue generating income. They don’t understand taxes and they never learn to stop trying to keep up with the jonese.
If I had 100 million at 25 I would probably blow it too especially if I never learned to do anything else to generate more money

Right. You need money men. Or a money team.

Shaq did it, and countless others. Make ya money make you money.

 

[Scaaar]

Thank you…


These lame ass players are nothing more than hype. Beast and OBJ is a super fukking corny hype beast. If you don’t try and keep up with the Jones and live a modest lifestyle one contract of $100 million should last you a lifetime

That's what I'm saying. Most average people will barely scratch a million gross in their lifetime earnings . So just say he "only" made 60 million total after taxes. That's the equivalent of what it would take 90ish people to make in their lifetime that you made in 3-7 yrs....just be humble and grateful that you were blessed with the talent to accumulate that.

 

[Rayzah]

That's what I'm saying. Most average people will barely scratch a million gross in their lifetime earnings . So just say he "only" made 60 million total after taxes. That's the equivalent of what it would take 90ish people to make in their lifetime that you made in 3-7 yrs....just be humble and grateful that you were blessed with the talent to accumulate that.

They expect it to last a lifetime but don’t realize that if the income stops then they can’t keeping living that lifestyle. They also have no concept of how much is a lot of money. To live the way they want to live they would need more than 100M

Grow up idolizing rappers who idolized drug dealers and you got a bunch of people thinking that you are supposed to act like a billionaire when you start getting a little bit of money.

They feel like if you can’t flaunt it then what’s the point of having it

 

[Heretic]

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.

Live a middle class life to make that money be generational money is what I was saying, not for just 1 person. Let's say you have 3 kids, parents, siblings, and you wanna leave a million or 2 to each, yes you have to be conservative. That's what most financial advisors will tell you. Put the majority in a trust, invest, and love off of a portion that will last you 50 or more years. That would require you to love a middle class lifestyle. Also, that white QB with a 100k truck and old jeans is literally what a middle class lifestyle consists of. You gotta think about whether or not he has a mansion and put money away for taxes and what not, you gotta cut back somewhere. You can’t have diamonds and cars all over the place.

 

[Stuntone]

These fools be buying exotic cars, flying private and living a Lebron James lifestyle on their first contract.

 

[beenz]

I feel him. sounds like he barely has two nickels to rub together

 

[The_Hillsta]

I will never know the feeling of having 60 million dollars but these players come into the league and is surrounded in the locker rooms or hear stories about other players having financial problems because of bad investments, financial advisors, baby mamas, and over spending and majority of these nikkas fall in the same trap

And now with kids getting paid in college.

Your first purchase when u get a 5 year 100 million dollar contract is your one home that you will consider living in the rest of your life… fukk all that other shyt of giving parents a home and your home boys money

The house you buy your parents you paying on that shyt to

You get your parents a house once u get a big endorsement deal and use that for a nice cheap home

But these NBA/NFL nikkas really want to live like rappers and live out the big meech street life and wonder why at 35 years old and no team giving u another contract that u are broke

And those so called friends and second and third family members are gone and u sitting there next to us coli nikkas on the job

In building #23 livin next door to me...decisions decisions

Giving that type of money to a young cat that never had a debit card or bank account. Have no idea what a 401k is. Never heard of a S&P, money market, index fund, none of that shyt.

You got cats like Marshawn Lynch going to high schools and jucos in the hoods pitting youngins on game on where and how to park your bread when and if you make it.

All we've ever been taught from where I'm from is put your paper in these shoe boxes or under the mattress, or hide it in this hole in the wall. When you get a job, put it in the bank, buy a house and learn to balance a check book...

That's it. From grade school to college. Basic finance was something that was NEVER, EVER, taught or showed us where I'm from. Not until I got to college and had to take a finance class for a requirement. Even today with all accessible basic information and knowledge sharing you STILL have folks missin the basic finance train.

 

[Heretic]

Middle class lifestyle

4% interest on $30 million is $1.2 million/year and you still have the other $30 million. This is with a simple savings account, not even the stock market where you could get an average 8-10% annual return. You have to try your hardest to go broke with that type of money.

Yeah but more of them go broke than not, so we obviously know something that they don't

 

[DaHNIC82]

He saying shyt ain't what it's cracked out to be

 

[beenz]

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.

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.

 

[Heretic]

I feel him. sounds like he barely has two nickels to rub together

He didn't say he was broke, he said the exact opposite. He said he was more than straight if he never made another dime but there are lots of others who wouldn't be straight.