That 30 for 30 claims another one: Darius Miles

AtomicUse

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What you said had nothing to do with what I said. The article even says it wasn't personal habits that led to his bankruptcy, but business plans. If he sat on his money he'd be fine.
This a threaded discussion and I quoted your post to keep the conversation going, fukk is your problem? :what:
And both my post addressed business aspects of the story.
 

Voice of Reason

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$66 million earned is probably like $25 million net after taxes, fees, dues, etc. That's really not a lot if not managed properly. It can easily whittle away in 10 years.

Add in multiple child support payments, bad investments, taxes eating in to it every year...

This is the same old story...no amount of money is limitless.

SN: I heard he got really chubby too?


:mjlol:25 million is alot no matter how you slice it
 

Liquid

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$66 million earned is probably like $25 million net after taxes, fees, dues, etc. That's really not a lot if not managed properly. It can easily whittle away in 10 years.

Add in multiple child support payments, bad investments, taxes eating in to it every year...

This is the same old story...no amount of money is limitless.

SN: I heard he got really chubby too?
Oh it's not a lot of money huh.

25 MILLION dollars even at 1% interest is 250K per year for the rest of your life WITHOUT RISK. And that's 1% ONLY, are you losing to inflation? Yep, but you are also not potentially putting yourself in a situation in where you have to sell your fukking VCRs either. How will he watch Titanic now?

People really need to stop giving these athletes a pass. You have all the money in the world, take some economics and business classes if you want to be some young entrepreneur after your playing days.

This is sad and infuriating all at the same time :snoop:
 

SoulController

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He sold his toaster for $2.00?

Guess he didnt need it with no bread..lol

*Ba dop psssh*

Thank you Thank you, I'm here all week

lol-duck.gif
 

King Poetic

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12 properties but he's not getting any money from it???

Why don't these nikkas talk to some of the veterans on the team at the time or hired agents with a history of not fukking over their client like rob pelinka or jordan or chris paul agents...

And if u investing into sonething sit your ass down for 5 days and even more and read
 

acbjr22

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These dudes be trusting all these managers and business advisors with their money. If it's not Warren Buffett, stop trusting these crackers with your money
 

Reid2Achieve

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:mjlol:25 million is alot no matter how you slice it

Oh it's not a lot of money huh.

25 MILLION dollars even at 1% interest is 250K per year for the rest of your life WITHOUT RISK. And that's 1% ONLY, are you losing to inflation? Yep, but you are also not potentially putting yourself in a situation in where you have to sell your fukking VCRs either. How will he watch Titanic now?

People really need to stop giving these athletes a pass. You have all the money in the world, take some economics and business classes if you want to be some young entrepreneur after your playing days.

This is sad and infuriating all at the same time :snoop:

You know he didn't get a $25M paycheck, right? Just guessing without looking it up that sounds like $3M-6M net a year.

I'm not disagreeing with your point. If he lived modestly and smartly he can stretch it, but let's be honest, the NBA lifestyle influences these guys to spend spend spend like the money will last forever.

Also, I'm not giving guys like this a pass. I'm just saying that amount of money is not enough to live free on without worrying about money unless you know what you're doing.

More money, more problems. There are plenty of people making $300k or even $3M a year and basically living paycheck to paycheck that can't go without their income. Athletes unfortunately can get trapped in the same cycle.
 

NoGutsNoGLory

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$66 million earned is probably like $25 million net after taxes, fees, dues, etc. That's really not a lot if not managed properly. It can easily whittle away in 10 years.

Add in multiple child support payments, bad investments, taxes eating in to it every year...

This is the same old story...no amount of money is limitless.

SN: I heard he got really chubby too?
:francis:Werd? 25 million? he was basically broke..............................:francis:
 

The Fire

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I hate this notion of if you aint investing, youre losing money. No the fukk you aren't. Some many nikkas get bread and think they have to. Ain't nothing wrong with saving your bread!
saving is a form of investing assuming you're accruing interest. if you sit on cash you are technically losing money because of inflation
 

John Reena

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Wtf, I thought tha NBA had seminars for rookies about groupies, family members, and financial matters. Cuz it's nuts!!
 
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