**** you Josh Smith Nba

[I seen it dawg]

He got a family and 7 figures gonna be hard. Go **** yourself you piece of shit.

[Dawg61]

$6.9 mill for groceries is tough. It's only $18,904 per day.

[starkvegasdawg]

May have to cut back to filet and lobster to only 4 days a week. The horror of kids having to grow up in those kinds of living conditions.

[shannondawg]

Its amazing what percentage of the players are broke after retirement.

[starkvegasdawg]

Its amazing what percentage of the players are broke after retirement.

True, but that speaks more to them going full retard and not lack of salary.

[Martianlander]

I read a couple of years ago that 80% of NFL players and 60% of NBA players were broke within 3 to 4 years of retirement from the league. Didn't have stats for baseball. Amazing lack of money management considering what even bench players make.

[MetEdDawg]

This response might belong on the political board, but you have to look at the demographic of player that's going into the NFL and NBA. Not necessarily racially but in terms of socioeconomic status.

Take Big Pern for example. By all accounts he's doing very well for himself and I haven't heard of any gross mismanagement of money from his camp. But I bet there are a lot of other guys in the NFL and NBA that came from a similar background as him and I could very easily see why guys from that background could spend all of their money very quickly and very wastefully and have nothing left at the end. Come from a background where you don't have much, don't have the opportunity to save money for the future, so you aren't able to manage your money properly.

Both entities have been taking steps to help rookies manage their money, but in the end the player is going to do whatever. I'll be honest, I can't imagine what I would do if I make a yearly salary of what some of these guys make. Hell, even just a million dollars one time I feel like I couldn't possibly spend all of it. Just seems impossible to me that so many go broke. I understand helping out family and such, especially if you came from a rough background. But some of these guys make tens of millions over their career and end up with nothing at the end.

But I will say this. In all of the socioeconomic status research I've done, one common theme is that one of the most difficult things to do in life is change the class you are in. There are so many adjustments from being in the lower class to the upper class that many just can't handle or manage the change.

[Dawg61]

Josh Smith has made over 90 million dollars in just salary money. Gotta figure he's made a pretty penny from shoe endorsements and other avenues afforded to rich basketball stars. He's blown through 100 million dollars and hasn't essentially asked for help till now.

[jbjones]

Money to some folks equals a death sentence. Every time I ponder winning the powerball ( Never play, but it's nice to dream ), I think of this guy's advise. It is not hard AT ALL to see how most end up broke, or worse. Granted, this is about winning the lottery, but I think it would apply to a big-money pro athlete as well.

Winning The Lottery is Very Dangerous (A Practitioner's Guide) - LONG (www.ar15.com/archive/topic.html?b=1&f=5&t=749519)

[jumbo]

Watch Ballers on HBO. That will show you exactly how it is

[DudyDawg]

Also gotta understand that they don't get anywhere near what their salary says due to all the insane taxes they pay. Take the jock tax. When Smith plays the bulls, whatever amount he "earned" (often 1/82nd of his salary) that night gets taxed by the state of Illinois. I'm not saying they're hurting for money but the numbers do look deceiving. And consider that they not only came from no money, but often only have 1 or no years of college, when the playing ends at 35 so does the money. And they don't know what to do

[dawgs]

This response might belong on the political board, but you have to look at the demographic of player that's going into the NFL and NBA. Not necessarily racially but in terms of socioeconomic status.

Take Big Pern for example. By all accounts he's doing very well for himself and I haven't heard of any gross mismanagement of money from his camp. But I bet there are a lot of other guys in the NFL and NBA that came from a similar background as him and I could very easily see why guys from that background could spend all of their money very quickly and very wastefully and have nothing left at the end. Come from a background where you don't have much, don't have the opportunity to save money for the future, so you aren't able to manage your money properly.

Both entities have been taking steps to help rookies manage their money, but in the end the player is going to do whatever. I'll be honest, I can't imagine what I would do if I make a yearly salary of what some of these guys make. Hell, even just a million dollars one time I feel like I couldn't possibly spend all of it. Just seems impossible to me that so many go broke. I understand helping out family and such, especially if you came from a rough background. But some of these guys make tens of millions over their career and end up with nothing at the end.

But I will say this. In all of the socioeconomic status research I've done, one common theme is that one of the most difficult things to do in life is change the class you are in. There are so many adjustments from being in the lower class to the upper class that many just can't handle or manage the change.

you also have family and friends looking for support. then even if you have a financial manager, often times they are looking out for themselves more than the athletes, often scraping extra money off the top or giving poor advice/steering them towards their friend's and family's investments. more than blowing through the money just on living costs alone, many of the guys that go broke go broke because they make poor investment decisions (look at curt schilling's video game company). most businesses fail, which means most of these athletes inherently are making bad investments.

[scottycameron]

I got one word for this but I'll use my better judgement, lol.