How the NFL leaves players broken — and broke

WhoDat!656 · 12-14-2014, 07:19 PM

I have very little sympathy for any professional athlete that pi$$es his/her money away on stupid shyt instead of getting sound financial advice.

How the NFL leaves players broken — and broke | New York Post

stickman · 12-14-2014, 07:32 PM

Originally Posted by WhoDat!656

I have very little sympathy for any professional athlete that pi$$es his/her money away on stupid shyt instead of getting sound financial advice. ]

I agree with you, but, I think the key words there are "sound financial advice". I totally believe that a lot of these guys get bad advice from so called investment "experts", and then wind up broke because of it. Remember, the financial adviser gets paid whether you make money or not.

QBREES9 · 12-14-2014, 07:43 PM

How the NFL leave players broken, and broke. Kids, with to much to soon.

WhoDat!656 · 12-14-2014, 07:52 PM

Originally Posted by stickman

I agree with you, but, I think the key words there are "sound financial advice". I totally believe that a lot of these guys get bad advice from so called investment "experts", and then wind up broke because of it. Remember, the financial adviser gets paid whether you make money or not.

I agree that a lot of players get bad advice, but the player has to do his homework. Brees and other Saints players got taken by a former player when they invested some money.

Ask other players who they are using, check their references.

stickman · 12-15-2014, 11:37 AM

Originally Posted by WhoDat!656

I agree that a lot of players get bad advice, but the player has to do his homework. Brees and other Saints players got taken by a former player when they invested some money.

Ask other players who they are using, check their references.

That's my point, you can do all that, and still end up broke. Those are the guys I feel bad for, the guys that tried to be smart with the money and bad investments killed them.(Deuce McCallister)

I have no sympathy for the guy who spent his money on cars, jewelry, and trips to vegas.

Beastmode · 12-15-2014, 12:33 PM

All 32 NFL teams, the NFL itself, and the NFLPA offer year-round financial services and programs designed to educate, protect and guide those whose greatest earning potential will come in their 20s and possibly 30s.

How many employers offer three tiers of good financial advice. No excuse other than being a block head. Most of these cases involve high stakes, over spending and family members. If you ever meet someone who does this stuff it does not matter what advice they get. They won't use it.

ScottF · 12-15-2014, 01:36 PM

Originally Posted by Beastmode

All 32 NFL teams, the NFL itself, and the NFLPA offer year-round financial services and programs designed to educate, protect and guide those whose greatest earning potential will come in their 20s and possibly 30s.

.

Exactly - these guys let their friends be their agents, or pay entourages just to hang around. A big part of the problem is just understanding the basics of how much tax they have to pay

I wouldn't be surprised to learn that a large % of 25 year old millionaires in any industry end up broke

Papa Voodoo · 12-15-2014, 02:46 PM

Allen Iverson never played in the NFL. He's broke too. A certain percentage of the population, no matter if they are a pro athlete or not, will squander their money and wind up broke.

Danno · 12-15-2014, 06:51 PM

Stupid people make stupid choices.

Been going on for quite a while, like thousands of years.

SloMotion · 12-15-2014, 06:55 PM

Originally Posted by Danno

Stupid people make stupid choices.

Been going on for quite a while, like thousands of years.

... yeah, but a thousand years ago, before we messed around with "natural selection", a stupid decision got you killed or ate,

.

12-14-2014, 07:19 PM	#1
WhoDat!656 10000 POST CLUB Join Date: Nov 2010 Location: Shreveport,Louisiana Posts: 16,046	How the NFL leaves players broken — and broke I have very little sympathy for any professional athlete that pi$$es his/her money away on stupid shyt instead of getting sound financial advice. How the NFL leaves players broken — and broke \| New York Post ScottF likes this.

12-14-2014, 07:32 PM	#2
stickman 1000 Posts + Join Date: Oct 2012 Location: Gonzales, LA Posts: 1,680	Re: How the NFL leaves players broken — and broke Originally Posted by WhoDat!656 I have very little sympathy for any professional athlete that pi$$es his/her money away on stupid shyt instead of getting sound financial advice. ] I agree with you, but, I think the key words there are "sound financial advice". I totally believe that a lot of these guys get bad advice from so called investment "experts", and then wind up broke because of it. Remember, the financial adviser gets paid whether you make money or not. SloMotion likes this.

12-14-2014, 07:43 PM	#3
QBREES9 Moderator Join Date: Sep 2007 Location: New Haven Ct Posts: 23,985	Re: How the NFL leaves players broken — and broke How the NFL leave players broken, and broke. Kids, with to much to soon.

12-14-2014, 07:52 PM	#4
WhoDat!656 10000 POST CLUB Join Date: Nov 2010 Location: Shreveport,Louisiana Posts: 16,046	Re: How the NFL leaves players broken — and broke Originally Posted by stickman I agree with you, but, I think the key words there are "sound financial advice". I totally believe that a lot of these guys get bad advice from so called investment "experts", and then wind up broke because of it. Remember, the financial adviser gets paid whether you make money or not. I agree that a lot of players get bad advice, but the player has to do his homework. Brees and other Saints players got taken by a former player when they invested some money. Ask other players who they are using, check their references. SloMotion likes this.

12-15-2014, 11:37 AM	#5
stickman 1000 Posts + Join Date: Oct 2012 Location: Gonzales, LA Posts: 1,680	Re: How the NFL leaves players broken — and broke Originally Posted by WhoDat!656 I agree that a lot of players get bad advice, but the player has to do his homework. Brees and other Saints players got taken by a former player when they invested some money. Ask other players who they are using, check their references. That's my point, you can do all that, and still end up broke. Those are the guys I feel bad for, the guys that tried to be smart with the money and bad investments killed them.(Deuce McCallister) I have no sympathy for the guy who spent his money on cars, jewelry, and trips to vegas. Crusader likes this.

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12-15-2014, 12:33 PM	#6
Beastmode 5000 POSTS! + Join Date: Jul 2010 Posts: 9,126	Re: How the NFL leaves players broken — and broke All 32 NFL teams, the NFL itself, and the NFLPA offer year-round financial services and programs designed to educate, protect and guide those whose greatest earning potential will come in their 20s and possibly 30s. How many employers offer three tiers of good financial advice. No excuse other than being a block head. Most of these cases involve high stakes, over spending and family members. If you ever meet someone who does this stuff it does not matter what advice they get. They won't use it. ScottF likes this.
Beastmode 5000 POSTS! + Join Date: Jul 2010 Posts: 9,126

12-15-2014, 01:36 PM	#7
ScottF 5000 POSTS! + Join Date: Feb 2007 Location: Atlanta Posts: 6,324	Re: How the NFL leaves players broken — and broke Originally Posted by Beastmode All 32 NFL teams, the NFL itself, and the NFLPA offer year-round financial services and programs designed to educate, protect and guide those whose greatest earning potential will come in their 20s and possibly 30s. . Exactly - these guys let their friends be their agents, or pay entourages just to hang around. A big part of the problem is just understanding the basics of how much tax they have to pay I wouldn't be surprised to learn that a large % of 25 year old millionaires in any industry end up broke

12-15-2014, 02:46 PM	#8
Papa Voodoo 1000 Posts + Join Date: Jun 2007 Posts: 1,633	Re: How the NFL leaves players broken — and broke Allen Iverson never played in the NFL. He's broke too. A certain percentage of the population, no matter if they are a pro athlete or not, will squander their money and wind up broke.

12-15-2014, 06:51 PM	#9
Danno Truth Addict Join Date: Dec 2003 Location: Spanish Fort, AL (via NO and B/R) Posts: 24,720	Re: How the NFL leaves players broken — and broke Stupid people make stupid choices. Been going on for quite a while, like thousands of years.

12-15-2014, 06:55 PM	#10
SloMotion 5000 POSTS! + Join Date: Jan 2012 Posts: 6,776 Blog Entries: 15	Re: How the NFL leaves players broken — and broke Originally Posted by Danno Stupid people make stupid choices. Been going on for quite a while, like thousands of years. ... yeah, but a thousand years ago, before we messed around with "natural selection", a stupid decision got you killed or ate, . Danno likes this.

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