Tim Duncan loses 20m from friend/financial advisor

[Capitol]

1. Taking a pay cut is borderline insanity to me. you gotta understand that there are a million things that can go wrong to fukk up your situation. You get blessed with the chance to bring in millions upon millions for balling and you turn that down? Think about it how hard it actually is for the average person to make 1 million.

2. Tim is cool with me and everything but you know what they say about a fool and his money. For 20 mil I would have goons outside his house 24/7 just looking through his window like "you better not fukk up that money". The amount of money it takes to pay them is nowhere near 20 mil man

3. These athletes need to stop trusting these "advisers". To keep it 100 why wouldn't you rob these dumb ass athletes. If you got so much money you dont even notice its gone AND you're not checking on it you lost. How the fukk you gone just leave all your finances to me then not even check that shyt when I ask for 7 mil to invest in some shyt you never heard of. It has to be really tempting to rob these dudes too. You go into work one day like I wonder what would happen if this mil goes missing and mysteriously ends up in my account. Year later nothing happens. You already know

 

[KingTut]

Timmeh my nikka I hate it had to be him

 

[Broad Street Bully]

love of money is the root of all evil brehs. smh time and time again

 

[Malta]

nikkas get embezzled everyday b, he still got his post moves, he'll be aight

 

[88m3]

what an idiot, there is no defending this

 

[jadillac]

That rat race will always get nikkas. I think after you make a certain amount of money you shouldn't want to make anymore. If you make 100 mill. fukk investments and fukk all that other shyt. Just adjust your lifestyle accordingly and live.

true, but alot of times you have to do something w/ that kind of money to avoid it being ate up by taxes. So you funnel it into different ventures, etc.

But I'd just put it into low-risk stuff. Break even or small profit type stuff.

 

[pickles]

Am I suppose to feel sorry for him? At least he had 20 million to lose.

Tim Duncan always seemed kind of slow.

He probably fell for the ookey doke, that dude talking about I will double your money in 5 years bullshyt.

 

[J-Fire]

Why doesn't

if I have 20 million dollars I'm not listen to someone tell me about investing money who doesn't have more money than me

what for, I'm already at an amount you can't even get to yourself, so what can you possible to tell me, I'm better off just keeping my money in the bank

same with friends, if I give a friend money I'm just giving them money I can afford to give them without expecting to be paid back

why would you go into a business arrangement with a friend who doesn't have equal stake, doesn't make sense, so if something doesn't go right I lose all my money and they lose nothing

what can't you understand
it don' make sense because never tried to make sense of it in first place, you always just to disagreeable for no reason whatsoever

bank don't guard against inflation. may as well invest in low yield t-bills and ladder them.

if i told you to invest in the vangaurd s&p 500 and let it sit i'm and idiot even though i'm growing money all be it with less capital than you? ....to each their own i guess.

Jim cramer should just hand out books to all athletes imo....

 

[Master Teacher]

bank don't guard against inflation. may as well invest in low yield t-bills and ladder them.

if i told you to invest in the vangaurd s&p 500 and let it sit i'm and idiot even though i'm growing money all be it with less capital than you? ....to each their own i guess.

Jim cramer should just hand out books to all athletes imo....

how much money has jim cramer made you

inflations affects your investment returns too

also you don't lose money by not investing, if I got 20 million what the fukk do I need to invest for

real estate is only investment necessary and yields the least amount of risk

 

[J-Fire]

Athletes get sold dreams that these "financial advisors" can flip their money into something more

but people in general need better financial education. treasury notes and s&p500 or total market if your lazy.

advisors can't keep attract of everyones money unless it's a hedge fund in which investor have ownership and the manager manages that single portfolio. but even hedge fund managers struggle a lot...less than half beat the s&p500 any given year.

 

[Prince Akeem]

There's a difference between rich and wealthy. That dough will dry up fast. That's always my first thought when I hear about black athletes going broke after retirement (majority of NBA & NFL players).
It doesn't help that most black millionaires in this country are athletes and entertainers either.
White folks have that generational wealth game on lock

There is a huge difference between athlete money and industrial money. The latter can stretch alot longer than the former which is the key to wealth.

 

[J-Fire]

how much money has jim cramer made you

inflations affects your investment returns too

also you don't lose money by not investing, if I got 20 million what the fukk do I need to invest for

real estate is only investment necessary and yields the least amount of risk

i'm well aware of subtracting inflation from return for my real return

historical inflation is 3.5% and the US always sets the t-bills above current inflation. and you do lose money in banks and putting it under a mattress. vangaurd s&p 500 is very safe.

real estate has a lot of pitfalls.....

 

[ManBearPig]

guess he wont be retiring anytime soon

i'm sure he'll be good

 

[Spiritual Stratocaster]

some athletes luck up and get some good advice from the right people and sharks and hustlers are always coming at them non-stop.

LeBron James hosts Warren Buffett in Cleveland, calls him ‘Uncle Warren’

http://www.washingtonpost.com/blogs...-buffett-in-cleveland-calls-him-uncle-warren/

@ the tan white dude to the right....

 

[DrexlersFade]

If you in a position to lose 20 mil you won at life and Duncan "The Don"