That means he doing it right
Shannon Sharpe on sports players who go broke: "You are not above a 9-5 job"
- Thread starter UpAndComing
- Start date
I still don't understand if you a hot athlete making millions and go broke?!? Don't they understand 401k Roth IRA, money mgmt, stop living above ya means, make prenups
Ive been broke all my life and I cannot fathom loosing millions
Just like any average joe that comes into wealth, they have no idea how to manage it along with all the dusty and dysfunctional family/friends/wolves that want a piece of the pie on the come up.
They are mostly under the assumption the money is in perpetuity, when that is far from the truth...
Just look at all the broke musicians and entertainers that came from the hood and can't even afford their own funeral..
Amare's Right Hook
Southeast World Champion
UpAndComing
Veteran
Yeah exactly. The problem is majority of Sports Athletes get paid W-2. So they get heavily taxed on their income, and get taxed in whatever state they travel to when playing sports
The only sports Athletes that get paid 1099 are Tennis players and Boxing. Which is 10x better as far as taxes go if you're an professional athlete
A lot of these dudes run into life changing generational wealth and act stupid with it. There is a 30 for 30 called "Broke" that touches on this. Part of the problem is a lot of these dudes never seen money like this and they are getting access to it at a young age and no one in their lives have educated how to handle that amount of new money. Then on top of that they are constantly playing keeping up with the Jones with other players and then they have family and friends who also want a piece of the money pie. Then when their career is over, in the few years they're broke. 
Peruvian Connect
Superstar
LMAO!! Coli nikkas are too good for $15-$20 jobs but former millionaires should jump at the chance. Yall wild
Yagirlcheatinonus
Icon Poster
I used to want that rich lifestyle but the older u get the more in thankful for just being a thousandaire.
datnigDASTARDLY
catching pigeons
As country as he is, I 100% believe he would have no problem throwing trash in the back of a truck, or sweating in a warehouse if he needed to.
They don’t make nikkas like that no more
Just in case 
It’s not that simple lol, that’s the point.
Everybody understands the MATHEMATICAL part about money, that’s not the question. People, for the most part, aren’t fukked up financially because they can’t do the basic math, it’s because of how they feel emotionally about money, overspending to impress others or feed family members, thinking that they’re going to be on top forever and even though they logically know they’re not gonna be in the league forever just not accepting it, competing with other athletes and rich people, and wanting to live rich as they’re rich, etc.
The God Poster
LWO representa
Have no issue with what he said . Couldn’t find a video link but I assume he kept the same energy when the NFL players got caught up
Mike the Executioner
What went on up there? Poppers and weird sex!
Don't know if this is 100% true or not, but Marshawn Lynch never spent any of the money he made from his NFL career. He was living off endorsement deals.
That method might not work for every player, but it's an opportunity to take if you have the means to.
A lot of cats could be making something similar to Shannon, if they went into coaching....
GPBear
The Tape Crusader
yeah i'm sure all those 2-3 year contract NFL players who can't even remember their own fukkin names are gonna go work in the warehouses 
