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  1. #1
    BadlandsVikings's Avatar
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    How come so many rich athletes are so poor?

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  2. #2
    bono's Avatar
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    Re: How come so many rich athletes are so poor?

    I think one of the reasons why some athletes (and other once wealthy celebs) end up broke is b/c of their lifestyles...living above their means. It's one thing to grab an x-amount of millions and purchase a home(s), car(s), etc, etc. It's another thing to CONTINUE doing the necessary things NEEDED in order to maintain them. I never understood why so many celebs go out and cop these multi million dollar homes, etc (w/ all those bathrooms, bedrooms, activity rooms, etc, etc...especially when it's just them living in it), as if once they get these things, that's it...they don't have to pay any extra. It's like they're living for the moment, not realizing that they have to continue bringing in the necessary money in order to CONTINUE maintaining those things. Heck, if you're not gonna put forth the efforts of folks like rappers Jay-Z (multi million dollar man), Master P (last time I checked this dude was over the 500 million dollar mark, and he hasn't even put out a real album in years...he has been investing in many things, building homes, putting his money to good use, etc), actors Will Smith and Martin Lawrence, singers Beyonce and Madonna, don't spend your money so foolishly! You have to manage your finances correctly.
    Anyone who can cop the kind of money Hollifield, Terrell Spreewell, etc, etc, have, and end up on the 'low budget' end, ought to walk around for the rest of their lives w/ their heads betwix their thighs! How in the heck do you manage to blow that kind of cheese? The average person doesn't even make a million dollars in their lifetime (like many of us), and yet, we manage to pay our bills, child support, eat, have a place to rest our heads, etc, etc. I'd love to come into some money like the Hollifields of today...man, there's no way I would ALLOW myself to go broke. That would be embarrassing.

    Do you rememeber that time (some years ago), when Terrell Spreewell stated that he wasn't going to play for a certain NBA team b/c of the amount they were offering him (something like a few millions per year)? He stated that he had mouths to feed, as though those millions a year, cupped w/ the millions I'm assuming he was saving up, couldn't fit the bill?! Now look at him...the last time I heard about him, one of his homes was being taken from him. WHAT THE HECK!
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  3. #3
    Marrdro's Avatar
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    Re: How come so many rich athletes are so poor?

    Because they are jocks, didn't get a good education and lacked the necessary skill sets to manage not only thier life styles but the budget/funds as well.

    Of course that might be a bit of a stereo type there.
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  4. #4
    Purple Floyd's Avatar
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    Re: How come so many rich athletes are so poor?

    Mostly because they are athletes and not accountants.

  5. #5
    Vikes's Avatar
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    Re: How come so many rich athletes are so poor?

    "UffDaVikes" wrote:
    Mostly because they are athletes and not accountants.
    Well said..
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  6. #6
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    Re: How come so many rich athletes are so poor?

    My dad always said it best...any FOOL can make money, but it takes a much smarter man to have the discipline to save it.
    None of those fools ever learned how to save a dime, which is why they have nothing to show for what they got in the pros.
    I don't feel one bit sorry for those fools.
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  7. #7
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    Re: How come so many rich athletes are so poor?

    "Marrdro" wrote:
    Because they are jocks, didn't get a good education and lacked the necessary skill sets to manage not only thier life styles but the budget/funds as well.

    Of course that might be a bit of a stereo type there.

    ;D
    When i played in highschool i had to keep a 3.3 average GPA or else I would have been kicked off the team. What i hear about the players at the college i attend they have to keep a GPA of 3.0 or better. Maybe it is different with different schools.

  8. #8
    Mr-holland's Avatar
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    Re: How come so many rich athletes are so poor?

    "erik5032" wrote:
    "Marrdro" wrote:
    Because they are jocks, didn't get a good education and lacked the necessary skill sets to manage not only thier life styles but the budget/funds as well.

    Of course that might be a bit of a stereo type there.

    ;D
    When i played in highschool i had to keep a 3.3 average GPA or else I would have been kicked off the team. What i hear about the players at the college i attend they have to keep a GPA of 3.0 or better. Maybe it is different with different schools.
    Which means they are smart with money? even the smartest person could have a big hole in his hand in the lifestyle athletes live in today. it's all about bigger, higher and more...
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  9. #9
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    Re: How come so many rich athletes are so poor?

    Living beyond their means. This statement is true with everyone, not just rich people. I have seen a couple of my coworkers file for bankruptcy before 30. Just plain stupidity.

  10. #10
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    Re: How come so many rich athletes are so poor?

    Because they are idiots.
    Get your facts first, and then you can distort them as much as you please. Mark Twain

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