90% of NFL players who make 15mil

Ronco said:
Let me understand something, if there was a link with this information you would take it as gospel? In other words, if it's on the internet it must be true.

Do you doubt everything you hear unless it's backed up verifiable facts? Conversations with you must be hoot.

You may find this hard to believe, but I've seen reputable magazines and newspapers print inaccurate information. Weird huh, something put down in black and white was wrong or misleading.
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Nothing I said even comes remotely close to any of this.
 
Rocket Ismail also squandered a fortune funding an inspirational movie; the music label COZ Records; a cosmetics procedure whereby oxygen was absorbed into the skin; a plan to create nationwide phone-card dispensers; a Rock N' Roll Café, a theme restaurant in New England; and recently, three shops dubbed It's in the Name, where tourists could buy framed calligraphy of names or proverbs of their choice.
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hawkfan340 said:
hawkdrummer1 said:
Just because you don't like the guy's opinions, doesn't mean he's inaccurate. Like him or not, his facts are usually dead on.
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I don't even have a take on his opinions. He's an entertainer, not a newsman or researcher. I work in a statistics job, so I tend not to trust stats from "pop" sources without corroboration. If it's accurate fine, and in that case it will be easy to back up.Link?
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http://sports.espn.go.com/espnradio/podcast/archive?id=2799707

I think its somewhere after the start of hour one and the end of hour three. enjoy your afternoon.
 
DexterMorgan said:
Really not shocking at all.
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Yeah, The average career lasts about 3.5 years you give a young guy a sh!tload of money it can go pretty fast. A lot of these guys just are not equip to handle it.


I can't be too judgmental you give me that type of money at that age I would probably screw it up, also.
 
I have had several pro athletes as clients over the years. It's unfortunate, but many let their agents guide them to their investments. The agents are sometimes there one day and a different one the next, so investment plans are often not seen through. Also, the players work in herd mentality, and want "just" what their friend has, regardless of their own risk tolerances. Some are savvy, many as reported, can get greedy and are not.

Also, baseball players seem more frugal with their paychecks. once retired, reality hits and their subsequent spending slows down, just not as fast as their income does.
 
It's all about perspective. People from 3rd world countries who live on $5000 per year probably find it shocking that Americans who make $60,000 would ever go bankrupt. Patrick Ewing was right about the rich and middle class in America when he said, "We make a lot of money, but we spend a lot of money too."
 
a guy from my hometown made it in the NFL and since retiring a few years back has done really well for himself in starting a john deere dealership and investing in lots of farmland. but then again, he was raised right, stayed very humble, and stayed in the business he was raised in. had a lot of things going for him besides being physically talented.
 
With the right (meaning "wrong") lifestyle, 15 million could go out the door really, really fast.
 
Lots of people make more than $15 mill in a few years (hedge fundies, elite surgeons, ginger M&A attorneys, steve jobs, etc etc). How come they don't end up BK?
Pro athletes are stupid and make bad decisions, because most of them have been given a free pass their entire lives.
It's not a complicated puzzle.
 
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