...and some waffle fries
Superstar
Dummy. You gotta have people watching the accountants thats watching the accountants.
Kwame Brown Sues Financial Advisor For Allegedly Stealing $17.4 Million
- Thread starter Big Boss
- Start date
JesusFOREVER
Superstar
I know I will sound like a racist here but real talk a financial advisor named Michelle Marquez? Sounds more like a female who sucked him dry in more ways than one 
If you don't know what to do with your money take half and buy stabilized apartment buildings, take 20% and buy blue chip stocks, another 20% in US bonds, and keep 10% in an interest bearing account that you only withdraw the interest from for your day to day activities. I done seen firsthand how this happens in Miami, they get these hoes to s*ck and f*ck you, promoters to show you around town, these same hoes linked up with these CAC scammers that drain these NBA players for everything they got. I remember reading a story about how a lot of these chicks that NBA players f*ck on the side are linked to pimps controlled by the very owners of the team. Once you get signed up they try to get you to give up all the dollars you just got. How we still slaves in 2016 
If you don't know what to do with your money take half and buy stabilized apartment buildings, take 20% and buy blue chip stocks, another 20% in US bonds, and keep 10% in an interest bearing account that you only withdraw the interest from for your day to day activities. I done seen firsthand how this happens in Miami, they get these hoes to s*ck and f*ck you, promoters to show you around town, these same hoes linked up with these CAC scammers that drain these NBA players for everything they got. I remember reading a story about how a lot of these chicks that NBA players f*ck on the side are linked to pimps controlled by the very owners of the team. Once you get signed up they try to get you to give up all the dollars you just got. How we still slaves in 2016 
Honestly speaking if you are not financially sound at minimum you should be able to control your own money and not be duped into signing over power of attorney to anyone..
1. Open a money market account
2. Open a couple savings and checking accounts at various banks and credit unions.
3. When you sign your professional sports contract have the lions share directly deposited into your money market account
4. Have the remaking money’s direct deposited into the savings and checkings.
5. Use one of the check accounts strictly as your bill account where you pay all your bills monthly and have the bill balances on auto pay so that way you don’t have to worry about unpaid bills
shyt is simple yet these dumb ass nikkas always getting got I don’t understand, it’s like bank all your bread and don’t invest shyt with anyone or have mofos handling your money only you should.. When you retire you would be better equipped to do small investing etc but at least you have every last dollar you made playing professional
1. Open a money market account
2. Open a couple savings and checking accounts at various banks and credit unions.
3. When you sign your professional sports contract have the lions share directly deposited into your money market account
4. Have the remaking money’s direct deposited into the savings and checkings.
5. Use one of the check accounts strictly as your bill account where you pay all your bills monthly and have the bill balances on auto pay so that way you don’t have to worry about unpaid bills
shyt is simple yet these dumb ass nikkas always getting got I don’t understand, it’s like bank all your bread and don’t invest shyt with anyone or have mofos handling your money only you should.. When you retire you would be better equipped to do small investing etc but at least you have every last dollar you made playing professional
I still don't understand athletes or entertainers not having someone contact them over the phone when purchases or investments are being made in their name instead of having advisors handle their total finances...
I want a bank or anyone else to contact me before they do transactions over a certain amount
I want a bank or anyone else to contact me before they do transactions over a certain amount
For anyone with questions, I have said it before, my brother deals with athletes and entertainers in a legal capacity and he routinely says that by and large, the athletes are just plain dumb.
He said they could literally just take the money and put it in the bank and be fine. But they're so dumb they don't even think to do that, so the sharks come in and bleed them dry.
He bills at $500/hour to deal with them and he has had potential clients turn him down because they thought that the rate was too low so he was a scam artist, only to use another legal representative who charges double or even triple that, and they end up actually getting scammed in the long run.
He said they could literally just take the money and put it in the bank and be fine. But they're so dumb they don't even think to do that, so the sharks come in and bleed them dry.
He bills at $500/hour to deal with them and he has had potential clients turn him down because they thought that the rate was too low so he was a scam artist, only to use another legal representative who charges double or even triple that, and they end up actually getting scammed in the long run.
The thing is the tax, if you put it all in the bank you losing 35%-50% a year depending on state taxes, that's why you need advisors.
Hope he is victorious.
Athletes have to pay taxes to the states that they play in, because they are considered contractors.
Your entire income is not taxed at 45%.
Are you familiar with how income taxes work?
Players already do this.
They have the option to ask for a share of thier money up front, or to receive a direct deposit, or paper check bi-weekly. The problem is they sign a power of attorney and allow an advisor to come in and have full control over those bank accounts once they have ALREADY EARNED THE MONEY. To write checks to pay thier bills and cover certain expenses and make "smart investments" while they are on the road. When you sign a Power of Attorney someone has complete control over all of your money, they are YOU as far as the bank is concerned.
With a Power of Attorney, an advisor could go buy a car and use player money to do it, and the only way the player would know it happened is if he looked at his bank statement and saw a $250,000 withdrawal was made. Then the player would have to ask the advisor to show what the money was for. That's when they cook up these phony companies to try and show diligence, when they're really just stealing the money and spending it.
If someone is smart enough and diligent enough to look at their own bank statements and file their own income taxes, they wouldn't need an advisor in the first place. Your point is 100% right, and you're asking how they keep getting got I'm telling you, unfortunately players are just not that bright, they never took education seriously.
So people like my oldest brother get to charge them $500 an hour to tell them things they could find out if they took a few minutes in the offseason to read about, but they're too busy partying and in the clubs to notice.
I'll never forget when he just broke down and told me they were "just plain dumb", with that beaten look on his face. I was hurt for them. So many young black men with the ability to change entire communities, but so unintelligent.
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No..Money..Mo..Problems
it is what it is
This is what happens when you turn your money over to people and dont keep tabs on em. Pro athletes better off just putting all there money in a savings account and not touching it till they retire. Than you can be more hands on with your money.
I'd say lawyers watching lawyers,watching accountants...
Nope the first thing they do in go cop a warith and jewelry. Hell today I seen a pic of Kyle Kuzma with a 35k fox coat on.
I don't feel sorry for none of these dudes
I know I will sound like a racist here but real talk a financial advisor named Michelle Marquez? Sounds more like a female who sucked him dry in more ways than one
Pay $17 mill to get robbed by this brehs.
Hope the p*ssy was worth it.
She manages Cavaliers Alonzo Gee and Andre Iguadolas' money too.
https://www.google.com/amp/s/www.nba.com/amp/cavaliers/features/gee-wallstreet-131003
But it was her the whole time, that's how the game is played, get them to think you're one of the good ones and then rob them. Have them pay your buddies for BS advice and financial literacy classes, then siphon thier money once you have access to thier bank accounts.
https://www.google.com/amp/s/www.nba.com/amp/cavaliers/features/gee-wallstreet-131003
Read the link I posted. The advisors are the ones funneling them to the classes. She told him that people would be out to get him and to try to screw him out of money and to be on guard.
But it was her the whole time, that's how the game is played, get them to think you're one of the good ones and then rob them. Have them pay your buddies for BS advice and financial literacy classes, then siphon thier money once you have access to thier bank accounts.
