T Pain Blows Through 40 Million

[jwinfield]

You don’t see financial advisors catering to broke people there is a reason for that.

What would broke people invest

 

[Originalman]

I respect his candidness, a lot of cats get embarrassed to talk about things like this

Yeah he has always been candid and he is very intelligent. I like how he said he made adjustments and learned his lesson.

I have always liked T-Pain because unlike many entertainers he never got caught up in hype and tried to be someone he isn't. I know a few folks who have met him and they have all said he is one of the most nicest down to earth people you will ever meet.

 

[Originalman]

Also like how he called out these hateful basement dwellers who post ignorant shyt at celebrities on social media.

 

[Vilify]

Not even Burger King money?!
How do you go from a millionaire to being that broke in such a short span

 

[Originalman]

Also T pain was like 23 and younger when he was making money like that.

So dude was getting millions at 21, 22 and 23.

Most early 20 year olds would blow through that money too.

 

[Trustus]

I wonder how much money he left on the table

 

[Sauce Dab]

Coli financial advisors putting in work in this thread

 

[eastsideTT]

Damn that’s a baaaaaaad jawn.


He said he made a lot of bad investments such as real estate, I find that interesting

haven't heard the interview but that sounds crazy to me. then again he was at his peak when the housing market bottomed out, with ground zero of the housing epidemic being in Florida...where he's from. I could see him taking some huge L’s on both commercial property and rentals in Florida in 08-09

either way, he was literally everywhere, and he caught the end of the ringtone era and was making hits in the peak iTunes era. im sure he sold some actual physicals too. the energy him and wayne had together was wonderful. looking back at it the end of the 2000s wasnt that bad of a time for music, especially 08 & 09

 

[Sbp]

shoulda bought some bitcoin

If he would've dropped 1 million on btc in 2011/2012 he'd be a billionaire.

 

[Tenchi Ryu]

Yall gotta remember T-pain is literally our age and only 33 years old...

So he was a dumb ass 20 year old with more money than common sense

 

[eastsideTT]

If he would've dropped 1 million on btc in 2011/2012 he'd be a billionaire.

its crazy to think about that. but I don't think there was even 1 million in existence like that back in 2011... definitely not 1 million available to purchase easily on an exchange like today. people were able to mine them on their home PCs back then. now you need a warehouse

 

[Homey the clown]

I don't get why these celebrities just dont set up a yearly spending budget.

 

[Amerikan Melanin]

Funny you don’t hear of Jewish celebs going broke ever.......

 

[Booker T Garvey]

Funny you don’t hear of Jewish celebs going broke ever.......

They don’t hear you

 

[MikelArteta]

I look at these rappers and singers and it's the same thing, man. Outside of Drake/Cole/Kendrick, just about all these dudes are going to be broke and desperate in a few years. They're burning money faster than they're bringing it in, and if they're investing it's in dumb shyt. And nobody is helping them. Not family, not friends, and CERTAINLY not the label. There's less money in music rn than there was when T-Pain started winning, so imagine how much harder these current dudes are gonna crash...

The great thing about rap/singer/sports money is you get a lot in lump sums (assuming you're successful). All these dudes gotta do is do the most basic investments and they'll be set for life. He says he had 40mil in the bank at one point. Nevermind that the FDIC only guarantees $250k lmao. See why that's stupid?


Put half that into an index fund and leave it alone. By the time you're not hot anymore as an artist or retire as an athlete, you'll be set for life (assuming you aren't stupid). If you want to invest in real estate, focus on rental properties. "Flipping houses" is all the rage but that shyt is hit or miss, and the market gets wiped out by recessions. You know what stays firm? Rental properties. You buy a duplex or 4 room place, hire someone to manage it (ie collect rent, handle repairs, etc) and you're good. The money won't be insane...but it's steady cash flow...which is what you should want. Once you got that shyt locked in and figure everything out...buy another. Then another. Keep going until you feel like you're at a good amount.

I know a dude who just sold all his rental properties within the last couple years. Older black dude...at one point he had nearly 30 rental properties. The hassle was too much for him, since he did everything himself (including repairs) instead of hiring out. He's a quiet millionaire. Imagine if you started doing that in your 30s or 30s, before "retiring" in your late 60s like he did. Insane money...

esp for musicians, its so hard to stay relevant for even a decade at least sports there are decent pensions etc.