ITT: athletes who got their shit fucked
>Even though he earned nearly $70 million during his career in the NFL, in November 2011 he announced to a judge that he is completely broke and has absolutely no monthly income
>At the time he was in court asking for reductions in four(4)[FOUR] separate child support cases. In documents submitted to the judge, Terrell described how he is currently required to pay nearly $60,000 a month to four (4) [FOUR] different baby mamas. He also pays $63,000 a month for all the homes that these women live in.
That's why you stay away from gold digging whores tbph. Honestly I'd just an hero
>>64754931
Lmao
>>64754931
lol. Fucking niggers. These are the people liberals unironically want to give free money too.
>>64754961
To be fair the courts have to be blamed here too. What kind of child needs 60k per month in child support?
>>64754990
top kek. i can probably raise like 50 kids just by myself if i got 60k a month
>>64754931
>pay nearly $60,000 a month to four (4) [FOUR] different baby mamas
>no baby, no need for a condom, I'm rich
dumb people are the funniest lel
>be one of TO's baby mommas
>get paid by him while you are gold digging with another rich person
>>64754931
Honestly how the fuck do you blow 70 millions dollars? Even at the point where you have 5 mil left in the bank wouldn't you think "shit, I gotta slow down the spending and invest"
>>64754931
Is this 123,000 per month total, or to EACH of his baby mommas?
>>64756470
Since some athletes are so dumb they can't read on a middle school level
>>64754931
TO deserves a TV job. He will get one
>>64755049
In some kind of kid factory? Perhaps a kid farm? A kid plantation?
are there any wealthy succesful athletes who haven't fallen for the attractive gold digging slut scam? why do women have so much power over men?
>>64756621
Jordan and Magic are the two most famous examples of investing their money well enough.
Eugene Profit (https://en.wikipedia.org/wiki/Profit_Investment_Management) started and still runs a $2 billion investment firm.
Elway has also done well for himself. Pretty much any player who still gets sponsorship deals after retirement.
>>64756470
A lot of athletes do invest and then get screwed over
30 for 30: broke is a good documentary on why so many of these guys go broke, there's a bit more to it than just
>hurr he's a nig nigging so he blows it all on drugs/jewelry etc
Although that is certainly a part of it.
>>64756621
Roger Staubach started a real estate company while he was playing and sold it for like $600 mil back in 2008.
>>64754990
Not trying to meme but fuck it. White men in power were cucked into it. Kinda sad really
>>64756895
No there's not really. That's what their culture is based on. I don't feel sympathetic for not being able to escape dogmatic hood life creed after being given the most coveted chance card in all of monopoly. It's easy to blame your environment.
Daily reminder that they think "investing" is:
>funding a restaurant with no experience
>funding a car dealership with no experience
>buying ridiculous properties to live for a while and then sell that less than 5% of the country could even afford
>buying 5 cars
>obvious pyramid and ponzi schemes
So no, they don't really have a grasp on investing
>>64754931
niggers
>>64756833
They don't really invest through a firm or a broker or real property. It's all "investments" like houses no one else can afford and friends opening restaurants
>>64756470
This is implying that he has a functioning brain. Rookie mistake my son.
>>64757168
why do these niggas never buy shit like Google or Apple stock?
like fuck nigga I know that the stock market is not a sure bet but putting your money in a solid blue chip is a 100 times better than buying 5 ferraris and jewelery with a 10000% markup from De Beers for your gold digger girlfriend
>>64757035
Because it's reality to blame the environment. If a person doesn't know how to budget $70 because they didn't grow up in an environment that didn't teach them shit, why would they be able to budget $70 mil? Getting paid quick, doesn't make you smarter. Plus a lot of them do make bad investments thinking they were doing the right thing and they get fucked over. Some think that they HAVE to help out friends and family that were there for them or looked out for them when they didn't have shit, but that's the environment.
>>64757244
or putting 75% of your career earnings into berkshire hathaway stock and letting warren buffett make investments for you as the greatest investor in the history of the world....
these guys have choices and they make the wrong ones
This man will feel the strong arm of the court system harder than any man in history once he's retired. He'll make Brendan Fraser look like Bill Gates
>>64754931
>having to pay for your baby mamas' houses too
Fuck that shit. Get a job you worthless leeches
>>64756532
Probably like that Futurama episode where Bender opens an orphanage
>>64757301
Shit forgot the picture
>>64756621
>are there any wealthy succesful athletes who haven't fallen for the attractive gold digging slut scam
Hi.
>>64756621
Aaron Rodgers won't have to worry about that
>>64757336
>>64757356
His is worse. He's not even attracted to women yet he will marry one to keep up persona since he's afraid to come out. Than when he never wants to kiss or have sex his wife he was never attracted to or loved will rob him blind
>>64756621
>brady is the attractive gold digging slut
>>64754990
Child support enforcement worker here. Child support obligation isn't determined by "child care or basic necessities" it's the court trying to preserve what the child's quality of life would have been with both parents. That's why you get scummy women buying new cars with their 3k a month orders. It's fucked.
>>64757268
They don't know better. Most of these people start getting paid millions at a very young age, most of them don't even know accountants or financial advisors exist and have their agent do those jobs, who usually has the same mentality as the athlete.
Even if they're smart enough to invest in the market, without any advice they get fucked, like Curt Schilling.
>>64756833
>tfw athletes will never buy boring index funds
>>64757423
>Bundchen
>Born in brazil
>gives his parents power of attorney
>they take out a bunch of loans, secured on their son's contract
>they can't pay back the loans
>he declares bankruptcy, cites a 18 million debt
>his brother in law is Brady Quinn
>>64757303
Surely the child support should be able to pay for a house to stay in, anyway.
White athletes almost never go broke, it's usually the black athletes with no nickels to rub together once their sports career ends.
>>64754931
Bizarre that 99% of the time it's someone black. Just like us though right family? There's only one race and that's the human race, right? :^)
Allen Iverson literally dindu nuffin
>>64757423
>BrayGod
i expected nothing less
>>64757503
Doesn't Ovi still live with his mom?
>>64757503
>Giving anyone power of attorney over your money, even family.
I'll never understand this. Family will be the first to fuck you over.
>>64757487
There are a lot of people of German descent in Brazil
Considering how prevalent (even encouraged) race mixing is there, it's no surprise she's cucking Tom
>>64754931
https://youtu.be/va2qj4Zv4QM?t=4504
There's A LOT more than you think. Probably triple than you can name off the top of your head.
>>64757574
>Family will be the first to fuck you over.
This. Look at Adebayor.
>>64757586
>30 for 30
Hnggghh, I can't keep burning through my time watching these
They're too addicting
>>64757247
so long story short: hood niggers will never learn
>>64754961
>These are the people liberals unironically want to give free money too.
Don't you see how that's a brilliant strategy? They hoard or save no money, they just dump it in cars and watches and shit, the economy flows thanks to dindus
>>64757586
>Johnny Unitas
>Lawrence Taylor
>Ray Guy
>Warren Sapp
Goddamn these were like the highest paid guys on the team too.
>>64757646
This. The American economy is almost entirely dependent on people buying dumbass shit they don't need
>>64756621
Steve Smith Sr. was on Mike and Mike earlier today and he was talking about how he always thinks hard about every purchase he makes and only uses money from excess endorsement checks to fund things like trips he takes with his family. He really should have zero problems with money when he retires next season.
>>64757734
>Steve Smith Sr.
Why does he do this? Does he have a son in the NFL?
>>64757820
There was another steve smith in the nfl for awhile
>>64757244
>invest in stocks
jesus christ you'd be just like them lmfao
>>64757820
He did it as an announcement that he was having a son iirc
>>64757846
They need to do like the XFL and let players put whatever they want on their jerseys
Would never happen in the No Fun League tho
>>64757877
Spoken like a retard who doesn't know anything about investing. Most of the wealthy have most, if not all, of their assets in stock. Money in banks will never get you rich.
>>64754931
He gets an NFL pension which by law, cannot be forfeited. OJ Simpson still receives a considerable sum despite being in jail and his estate under forfeiture from Ron Goldman
>>64758010
I'd probably take my signing bonus and buy an annuity. And probably some sort of insurance policy to cover my ass if I got hurt
>>64758068
I can't imagine they have a very good pension plan, considering how weak their union has shown itself to be everywhere else
>>64758068
Pension or not, if your expenses outweigh your income, you're going to go broke. That's why "live within your means" is always stressed. Even if you're making 1mil a month, if your expenses are 5 mil a month, you're going to go broke.
These athletes play hard and fast with their money. Clothes, cars, jewelry, houses, loans to family and friends. Then they wonder why they can't pay their electric bill one day.
>>64758010
Best thing about being rich in America, is long term capital gains cant be taxed higher than 20%. At a certain level, it's not so much about making more, just being taxed less.
>>64758126
The pension is better than most, it goes into the six figure range. Thing is, most athletes have expenses in the seven figure range.
>>64758099
Annuities give low payments and the insurance is a smart move but the payments could be expensive, especially since you're playing in a sport where injuries are highly likely.
Investing your money is the only real way to insure you have something to fall back on when your playing days are over.
>>64757035
Did you watch Broke? It doesn't just happen to blacks... though it does happen to them primarily
>>64758220
True, but annuities are guaranteed. You spend $75k on one when you're 22, you can get one that won't kick in until you're 45 but will pay six figures a year til the day you die
>>64758285
A annuity paying 100000 a year at 7 percent would need to be around 1.4 million.
But over 23 years, 75000 doesn't grow that much at 7%
75000*1.07^23=355539
>>64757646
>>64757673
slowly the area degrades and then you have to move out of the city is what happens
>>64757632
More like how COULD they learn? They simply do not have the knowledge or experience they need to handle that kind of paycheck. Poor people don't take financial windfalls well at all.
If you grow up where $1000 is more money than you have any idea what to do with, how do you think you would handle $20,000,000 falling into your lap? Even if you had the general idea of "Rich people put their money in the stock market", you still wouldn't have the faintest idea how to actually invest it, and would be in danger of losing it all faster than just spending it on cars and jewelry.
>>64758692
You can actually see this in action every time some trailer trash wins a big lottery jackpot. No matter how much money they win, they still burn through it all in less than 5 years and are right back where they started.
>>64758692
That's why financial investors exist, so you don't have to worry about making bad investment decisions but most players are too stupid to use them because they think they can manage their money just fine. Hell, they work for billionaires after all, who better to get financial advice from than the man who had enough money to buy his own NFL team. There's no excuse
>>64758692
high schools could teach this stuff
>>64758692
I dunno, In this age of information being at the edge of your fingertips, they should have at least somewhere to get started at.
the NFL has a rookie symposium covering all the troubles players will/could have with money
and how/where to find help when it comes to money
then after that, the 32 NFL teams have staff like player development and all kinds of other options, your head coach or general manager, or more likely your assistant GM who's more than likely going to be a CBA/cap money nerd will know a guy who can help
it's about asking for help, the help is readily available
they literally have drivers provided by the NFLPA "safe ride" or some shit is the program name, so players don't have to drunk drive...yet they still go out and drink because they make shitty choices
>>64759046
yet they still go out and drink and drive because they make shitty choices
>FTFM
>>64758906
>because they think they can manage their money just fine
That's the point. They don't know those people exist. They think Bill Gates managed every single penny of his fortune himself like he's Scrooge McDuck, so they try to do it and fail.
>>64758906
a lot of advisors are corrupt and lead to athletes making bad decisions that only benefit them and the athlete listens because they think hes the professional and has his best interest in hand
These guys are just big black bucks, not very intelligent outside of the commission of plays in their sport. Blacks can be intelligent and save their money, but the big black buck needs to spend his earnings on expensive women, cars and jewelry.
Iverson made $350 million dollars in career earnings alone and had endorsements as well, he's a broke boy now
>>64759088
>They think Bill Gates managed every single penny of his fortune himself like he's Scrooge McDuck,
my fucking sides
>ORBIT
>R
>B
>I
>T
>>64759227
nah he had a trust or some shit set up so he couldn't touch a bunch of money
>>64754959
>same net worth as an /sp/ janitor
Yeah me too
>>64759270
His wife gets half of that
>>64759318
really?
wow, equality when?
no wonder they go broke, you literally can't blame them for the courts deciding a woman who drank red wine for 6 years of marriage deserves 1/2 of something she never worked for....
>>64757673
Capitalism!
>>64759780
The best economic system in the world
Anyone else watch that 30 for 30 talking about how most athletes are broke as fuck? Pretty enlightening 2bh.
>>64759925
This
If you disagree you're a pinko cuck
>>64759651
BUT DA CHILLREN
DEY GOTTA HAVE THE SAME QUALITY OF LIVING WHEN DADDY WAS AROUND
And it's not like they care what happens when the woman gets the check and spends it on herself.
>>64758692
They can't hire a fucking wealth manager?
>>64757427
Fuck you. I genuinely hope you get sick or something. Nothing too bad, but something really unpleasant.
>>64754931
is he actually broke or just engaging in financial chicanery to avoid paying child support
>>64756481
Its 60k*4 + 63k
He's literally paying just under 16k a month per bitch for their housing.
>>64759227
>broke
He was lucky enough to have an adviser who wisely put aside ~$35M knowing the usual outcomes of athlete retirements, so he's fine now
>>64763504
Until he spends it all.
http://grantland.com/the-triangle/upside-down-the-weird-sad-bankruptcy-of-the-nhls-jack-johnson/
>>64754931
If you're in that situation why not just leave the country.
>>64763604
I'm certain Iverson learned a $300M lesson which should prevent that.
