Josh Childress on What Happens When You Sign Your First NBA Contract

[The Devil's Advocate]

In a way I appreciate what he saying , but after spending my WHOLE life getting by on less than 40k a year- I feel no sympathy

Give me $11M spread out over 5 years ( I have earned around 110k over the last 5 years-), and its still more than i have EVER made in all my years combined--

I bet I start a few businesses, invest, and put myself in a situation where I'm GOOD for the REST of my life.

and if you listen to 99% of "broke after sports" stories... those are the EXACT ways people lose the money


your best bet is to stick it in a bank, be happy with what you got, and budget out your spending



but most people do what you said..... get millions, enough to live off forever, and start thinking "i know how i can double and triple my money"


and most end up failing.... realize you was probably a dummy in high school who was skipped through easy classes to play ball.... you go to college for 1 fake me out year of school where you learn nothing......

next thing you got endless money (it seems) and a long line of "smart" people with degrees, all telling you exactly how to make high returns... not to mention family who you gotta save, kids who you gotta save, life that you want to live, friends that you grew up with.... you can't be worth 10 milly and your mom/sister/best friend since grade school going to work at chickfila


...............then you broke

 

[Juggalo Fred]

Long Beach

wonder if he knows Crooked I

 

[O.iatlhawksfan]

If I was a marginal NBA player, I would model my career after his to a T. Go to Greece and immediately be probably the best player on the team, get free housing and cheuffer (like he got), and TAX FREE paychecks which ended up being way more than what he gave up with the hawks. Smart as hell

He tried to come back and was trash

 

[L@CaT]

Tax free money making millions is exactly why Greece is in their worst economic recession ever

 

[Sauce Dab]

 

[LastManStanding]

the more money you make in America, the more you are punished for it with taxes.

Childress made a great financial decision for himself by going to Greece at that time. the 3 year, 20M contract that he signed with Greece was equivalent to about 32M in U.S. money, but after the tax breaks by playing in Greece he likely saw 4-5M more from his Greece contract than he would have from the bigger U.S. contract.

rule of thumb with professional athletes is they typically see somewhere around 45-50% of their contract money. so for a role player in the NBA like Childress, that extra 4-5M he took home by playing overseas instead of being punished with taxes in the U.S. can make a world of difference.

 

[Henryflo1]

wonder if he knows Crooked I

who gives a fukk

 

[Juggalo Fred]

who gives a fukk

i do

 

[The_Sheff]

it is, its like a million a year after taxes

but its like...motherfukkers live on 50k a year after taxes and theyre doing pretty well do these dudes HAVE to blow that shyt? idk

An NBA player living in a neighborhood with a 50k household income would be murdered bruh.

 

[intruder]

I will always appreciate Josh Smith and Brandon Jennings for their courage to say "fukk this shyt" and go overseas to get their money.

I know Americans are slowly becoming more open to travel abroad these days but back in the days mofos use to think the rest of the world was a black hole. I wish all HS seniors would take money and go overseas rather than play for free for that plantation called the NCAA. Your Americans need to stop thinking that they don't have a choice.

 

[Remote]

is there less racism in Greece?

Might be the most racist place on earth

 

[The God Poster]

In a way I appreciate what he saying , but after spending my WHOLE life getting by on less than 40k a year- I feel no sympathy

Give me $11M spread out over 5 years ( I have earned around 110k over the last 5 years-), and its still more than i have EVER made in all my years combined--

I bet I start a few businesses, invest, and put myself in a situation where I'm GOOD for the REST of my life.

this is a huge reason athletes go bankrupt. Everybody wanna be Magic & end up assed out.

Also, for most it's undeniable the more money you get the more you're gonna spend. So altho you can live making 40k a year they can't.

 

[MarloStanTrill]

this is a huge reason athletes go bankrupt. Everybody wanna be Magic & end up assed out.

Also, for most it's undeniable the more money you get the more you're gonna spend. So altho you can live making 40k a year they can't.

My point stands if i made it this far on so much, I have taught myself self restraint that athletes may not have-- that
$5mil would set me up for life #FACT

 

[The God Poster]

My point stands if i made it this far on so much, I have taught myself self restraint that athletes may not have-- that
$5mil would set me up for life #FACT

Breh that's not how it works. I get your point tho

I said this same thing 5 years ago when I made drastically less than I do now

 

[the cac mamba]

An NBA player living in a neighborhood with a 50k household income would be murdered bruh.

im not sayin he has to