- 9,928
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- Jan 30, 2006
they do have financial classes and many other classes for incoming rookies its just they think it wont happen to them.
Like some people say its not what you make is what you owe.
Some of these NFL dudes are gonna have a hard time making ends meet because of the lockout...
- Thread in 'Sports & Training' Thread starter Started by doublejs07,
- Start date
they do have financial classes and many other classes for incoming rookies its just they think it wont happen to them.
Like some people say its not what you make is what you owe.
- 9,928
- 572
- Joined
- Jan 30, 2006
they do have financial classes and many other classes for incoming rookies its just they think it wont happen to them.
Like some people say its not what you make is what you owe.
- 6,247
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- Jun 27, 2009
If I were to Make it to the NFL, only person handling my money aside from myself, is My Parents.
only people i can really trust and know what they were doing.
MAYBE a friend who i can really tell if he knows what he/she is doing.
only people i can really trust and know what they were doing.
MAYBE a friend who i can really tell if he knows what he/she is doing.
- 6,247
- 18
- Joined
- Jun 27, 2009
If I were to Make it to the NFL, only person handling my money aside from myself, is My Parents.
only people i can really trust and know what they were doing.
MAYBE a friend who i can really tell if he knows what he/she is doing.
only people i can really trust and know what they were doing.
MAYBE a friend who i can really tell if he knows what he/she is doing.
- 23,249
- 5,257
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- Jan 19, 2002
that doesnt mean they listen when theyre thereOriginally Posted by In Yo Nostril
isnt there some sort of mandatory financial planning seminar they attend before their rookie season?
they probably just talk about how theyre gonna blow their first mil
- 23,249
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- Jan 19, 2002
that doesnt mean they listen when theyre thereOriginally Posted by In Yo Nostril
isnt there some sort of mandatory financial planning seminar they attend before their rookie season?
they probably just talk about how theyre gonna blow their first mil
- 12,264
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- Aug 8, 2007
ding ding ding.
Besides, most of these cats are early twenty somethings, how fiscally responsible can they really be?
- 12,264
- 51
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- Aug 8, 2007
ding ding ding.
Besides, most of these cats are early twenty somethings, how fiscally responsible can they really be?
- 12,264
- 51
- Joined
- Aug 8, 2007
ding ding ding.
Besides, most of these cats are early twenty somethings, how fiscally responsible can they really be?
- 12,264
- 51
- Joined
- Aug 8, 2007
ding ding ding.
Besides, most of these cats are early twenty somethings, how fiscally responsible can they really be?
- 12,264
- 51
- Joined
- Aug 8, 2007
ding ding ding.
Besides, most of these cats are early twenty somethings, how fiscally responsible can they really be?
- 12,264
- 51
- Joined
- Aug 8, 2007
ding ding ding.
Besides, most of these cats are early twenty somethings, how fiscally responsible can they really be?
- 9,622
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- Feb 9, 2009
Michael Huff says, "LOCKOUT? WHAT LOCKOUT?
(btw i've been to this strip club and that heat is real! VY was probably there too.
)
(btw i've been to this strip club and that heat is real! VY was probably there too.
- 9,622
- 783
- Joined
- Feb 9, 2009
Michael Huff says, "LOCKOUT? WHAT LOCKOUT?
(btw i've been to this strip club and that heat is real! VY was probably there too.
)
(btw i've been to this strip club and that heat is real! VY was probably there too.
- 11,315
- 57
- Joined
- Dec 29, 2004
"some of these players are living from paycheck to paycheck"
mind = blown when i heard that.
mind = blown when i heard that.
- 11,315
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- Dec 29, 2004
"some of these players are living from paycheck to paycheck"
mind = blown when i heard that.
mind = blown when i heard that.
- 8,332
- 216
- Joined
- Feb 6, 2011
HBO Real Sports did a segment on NFL player finances a month or so ago.
IIRC:
60% of NFL players go bankrupt and become divorced.
Avg NFL career: less than 3 years
There is a rookie symposium on money management.
There are former NFL players that are financial advisors. Bart Scott was shown as a client of a prominent one, going over his portfolio in person the day after a playoff game this year.
Personal subjects were some Tampa Bay Bucs DT from the late 90s and former Lions DE Luther Ellis.
Basically came down to living beyond one's means and not understanding the short lifespan of an NFL career.
These are not isolated phenomena, as mentioned. Also, have to remember that the nature of pro sports leads to all this. Adoration leads to excess.
IIRC:
60% of NFL players go bankrupt and become divorced.
Avg NFL career: less than 3 years
There is a rookie symposium on money management.
There are former NFL players that are financial advisors. Bart Scott was shown as a client of a prominent one, going over his portfolio in person the day after a playoff game this year.
Personal subjects were some Tampa Bay Bucs DT from the late 90s and former Lions DE Luther Ellis.
Basically came down to living beyond one's means and not understanding the short lifespan of an NFL career.
These are not isolated phenomena, as mentioned. Also, have to remember that the nature of pro sports leads to all this. Adoration leads to excess.
- 8,332
- 216
- Joined
- Feb 6, 2011
HBO Real Sports did a segment on NFL player finances a month or so ago.
IIRC:
60% of NFL players go bankrupt and become divorced.
Avg NFL career: less than 3 years
There is a rookie symposium on money management.
There are former NFL players that are financial advisors. Bart Scott was shown as a client of a prominent one, going over his portfolio in person the day after a playoff game this year.
Personal subjects were some Tampa Bay Bucs DT from the late 90s and former Lions DE Luther Ellis.
Basically came down to living beyond one's means and not understanding the short lifespan of an NFL career.
These are not isolated phenomena, as mentioned. Also, have to remember that the nature of pro sports leads to all this. Adoration leads to excess.
IIRC:
60% of NFL players go bankrupt and become divorced.
Avg NFL career: less than 3 years
There is a rookie symposium on money management.
There are former NFL players that are financial advisors. Bart Scott was shown as a client of a prominent one, going over his portfolio in person the day after a playoff game this year.
Personal subjects were some Tampa Bay Bucs DT from the late 90s and former Lions DE Luther Ellis.
Basically came down to living beyond one's means and not understanding the short lifespan of an NFL career.
These are not isolated phenomena, as mentioned. Also, have to remember that the nature of pro sports leads to all this. Adoration leads to excess.
- 7,268
- 470
- Joined
- Apr 19, 2007
I've always viewed it for all professional sports that most (not all) athletes play with monopoly Money when it comes to playing their sports
Then they reitire and real life happens
It is like the guys that are made fun of because they buy a ford edge instead on going all out on a car
Most of these guys will only get to live the life they do for as long as people are Handing them contracts to play. I think it is worse in the NFL do to the current setup on how they support players who played the game. Someone like Earl Campbell for example who after he was done playing, used most of his savings on health care and rehabilitation just to be able to attempt to walk on his own after the beatings he took at running back
It one of the main reasons why I do not go nuts when guys get paid what they do. I deem it as a lucky 10-15 years for some that get to live the life they do but when they stop playing, they are no better off than I will be finanically maybe even worse than what I make
It is the athletes that are smart and save Money or make smart investment moves that really benefit from the amount of $$$$ that is given to them.
Then they reitire and real life happens
It is like the guys that are made fun of because they buy a ford edge instead on going all out on a car
Most of these guys will only get to live the life they do for as long as people are Handing them contracts to play. I think it is worse in the NFL do to the current setup on how they support players who played the game. Someone like Earl Campbell for example who after he was done playing, used most of his savings on health care and rehabilitation just to be able to attempt to walk on his own after the beatings he took at running back
It one of the main reasons why I do not go nuts when guys get paid what they do. I deem it as a lucky 10-15 years for some that get to live the life they do but when they stop playing, they are no better off than I will be finanically maybe even worse than what I make
It is the athletes that are smart and save Money or make smart investment moves that really benefit from the amount of $$$$ that is given to them.
- 7,268
- 470
- Joined
- Apr 19, 2007
I've always viewed it for all professional sports that most (not all) athletes play with monopoly Money when it comes to playing their sports
Then they reitire and real life happens
It is like the guys that are made fun of because they buy a ford edge instead on going all out on a car
Most of these guys will only get to live the life they do for as long as people are Handing them contracts to play. I think it is worse in the NFL do to the current setup on how they support players who played the game. Someone like Earl Campbell for example who after he was done playing, used most of his savings on health care and rehabilitation just to be able to attempt to walk on his own after the beatings he took at running back
It one of the main reasons why I do not go nuts when guys get paid what they do. I deem it as a lucky 10-15 years for some that get to live the life they do but when they stop playing, they are no better off than I will be finanically maybe even worse than what I make
It is the athletes that are smart and save Money or make smart investment moves that really benefit from the amount of $$$$ that is given to them.
Then they reitire and real life happens
It is like the guys that are made fun of because they buy a ford edge instead on going all out on a car
Most of these guys will only get to live the life they do for as long as people are Handing them contracts to play. I think it is worse in the NFL do to the current setup on how they support players who played the game. Someone like Earl Campbell for example who after he was done playing, used most of his savings on health care and rehabilitation just to be able to attempt to walk on his own after the beatings he took at running back
It one of the main reasons why I do not go nuts when guys get paid what they do. I deem it as a lucky 10-15 years for some that get to live the life they do but when they stop playing, they are no better off than I will be finanically maybe even worse than what I make
It is the athletes that are smart and save Money or make smart investment moves that really benefit from the amount of $$$$ that is given to them.
- 21,151
- 37
- Joined
- Mar 13, 2004
- 21,151
- 37
- Joined
- Mar 13, 2004
- 383
- 10
- Joined
- Jun 26, 2008
It doesn't really take much to look at your account balance and notice that it's dwindling down by an insane rate. If they did come from less affluent backgrounds, then they should understand even more that being broke is bad and should be working harder to do good on their opportunity. Yeah they're playing sports, but that's their job. And with jobs you gotta plan for retirement, invest and make sure you got enough to live with. You gotta know when to tell people approaching you for money to hop off. I understand that they want to see them do well, but you can't do it forever, your salary is not designed to support a hundred people. No sympathy because they're afraid to look like 'chumps' for not balling out 24/7. If you wanna ball out, flip your salary into something that you can justify it.
I guess the only disadvantage they have over us is that when we're the same age and make financial mistakes, the amount is smaller so it's easier to recover from and we definitely learn because we feel the impact. But it's not a real excuse, with their salary they get a much bigger buffer and no matter how many zeros there is, they should know how to count. Millionaire or not, a thousand dollars here and there is still a lot of money.
I guess the only disadvantage they have over us is that when we're the same age and make financial mistakes, the amount is smaller so it's easier to recover from and we definitely learn because we feel the impact. But it's not a real excuse, with their salary they get a much bigger buffer and no matter how many zeros there is, they should know how to count. Millionaire or not, a thousand dollars here and there is still a lot of money.
- 383
- 10
- Joined
- Jun 26, 2008
It doesn't really take much to look at your account balance and notice that it's dwindling down by an insane rate. If they did come from less affluent backgrounds, then they should understand even more that being broke is bad and should be working harder to do good on their opportunity. Yeah they're playing sports, but that's their job. And with jobs you gotta plan for retirement, invest and make sure you got enough to live with. You gotta know when to tell people approaching you for money to hop off. I understand that they want to see them do well, but you can't do it forever, your salary is not designed to support a hundred people. No sympathy because they're afraid to look like 'chumps' for not balling out 24/7. If you wanna ball out, flip your salary into something that you can justify it.
I guess the only disadvantage they have over us is that when we're the same age and make financial mistakes, the amount is smaller so it's easier to recover from and we definitely learn because we feel the impact. But it's not a real excuse, with their salary they get a much bigger buffer and no matter how many zeros there is, they should know how to count. Millionaire or not, a thousand dollars here and there is still a lot of money.
I guess the only disadvantage they have over us is that when we're the same age and make financial mistakes, the amount is smaller so it's easier to recover from and we definitely learn because we feel the impact. But it's not a real excuse, with their salary they get a much bigger buffer and no matter how many zeros there is, they should know how to count. Millionaire or not, a thousand dollars here and there is still a lot of money.
- 159,871
- 141,174
- Joined
- Oct 13, 2001
I mean someone explain to me how hard is it to GET a check, direct deposit it, and let it sit in a damn bank. I am not paying for an agent and/financial adviser. I will do it like Gilbert did it.
