Kevin Garnett got got for 77 million.
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Yup. These players give all their money to these white folk that Rob them blind. Duncan lost millions also.
Pathetic
Of course but these athletes gotta read up on shyt and do some due diligence before letting these crooks advise them on investments that have a small chance of panning out or they're nothing but a front to get access to their funds. Hate to say it but at the end of the day it might come down to these dudes simply putting the money in a safe simple money market account and not invest until they're done playing and can research and vet anything that comes their way as far as investments and business opportunities. They're food out here for sharks, hustlers, groupies, and even family members. Would you rather lose $77 million or lose 2 to 4 million at the end of the day due to inflation and lack of investments? Everybody is not going to be Magic Johnson post career
IsThatBrothaMouzone?
Superstar
just put it in a savings account and don't touch it untill your done playing
Actually a good idea. Just have a CPA that makes sure your tax situation is on point because the IRS is no joke.
After that, yeah a breh should save all the money and wait until he has time to learn how to manage it. Financial advisors and such.....good ones are worth their weight in gold but in order to know who is "good" and who isn't? Basically have to learn the biz anyway.
When you earning 8 figures a year ain't no "marrying up" as a man. Just don't get married period.
Born2BKing
Veteran
Trust me, we are
IsThatBrothaMouzone?
Superstar
If I was a famous athlete, I'd park my azz outside the nearest major medical school and look for aspiring neurosurgeons or some shyt:
Same guy who ripped off Tim Duncan. Duncan took him to court got his money back and he was sentenced 4 years in prison.
After the sentencing here is KG at the San Antonio courthouse hugging the con man. starts around 30:00 minute..
Duncan gets back $7.5 million in settlement with ex-adviser
After the sentencing here is KG at the San Antonio courthouse hugging the con man. starts around 30:00 minute..
Duncan gets back $7.5 million in settlement with ex-adviser
He could have parked $10 million in a higher interest savings account and inflation wouldn't have eroded it that much. If he could get 1.8% interest on that guaranteed that's almost $200K a year.just put it in a savings account and don't touch it untill your done playing
Ask Amani Toomer what happened to his doctor wifeIf I was a famous athlete, I'd park my azz outside the nearest major medical school and look for aspiring neurosurgeons or some shyt:
All freshmen or sophomores in high school should be required to open dummy investing accounts on investopedia. Playing with investment accounts along with stocks for those two years will allow them to learn so much.
eastside313
Superstar
Don’t know why these dudes don’t put their closet family members or friends thru school to learn how to manage money if they don’t wanna do it themselves.
Mr. McDowell
The Brotha's Got His Own Money
Complicated issue. When you earn 20+ million a year, you don't need to invest the money. You are the investment.
No need to , just don't trust anyone with your money including yo moma