Yeah but why risk that if an athelet isn’t financially sound? Like I said at minimum they should just bank their money and not touch it and not have someone in complete control of your money except for the person who’s name is on the paycheck
Kwame Brown Sues Financial Advisor For Allegedly Stealing $17.4 Million
- Thread starter Big Boss
- Start date
Yeah but why risk that if an athelet isn’t financially sound? Like I said at minimum they should just bank their money and not touch it and not have someone in complete control of your money except for the person who’s name is on the paycheck
Field Marshall Bradley
Veteran
Now you wanna be flippant
Breh you came out the gate question my finances
Come on fam We adults here or at least I’m assuming you are
Field Marshall Bradley
Veteran
I don't disagree.... the overwhelming majority of people that earn like that don't sit on their money, when they probably should.... you're taking advantage of a young, naive, gullible 18 to 21 year old.... Older and whiter have been done the same way.... trust me
Field Marshall Bradley
Veteran
I wanted to point out that no one on here probably earned millions a year while working a job that required 70 to 80 hours of your time weekly...... that's all....
quit playing dumb. I personally know a few athletes who were in the league, and they went through the same shyt. They lost a lot of their money at the hands of financial advisors dipping into their funds. A lot of cats just aren't that financially savory. Not necessarily "stupid", but they just never built that financial skill set. Heck you give a lot of people a few million and a similar outcome would arise.Your brother has worked with every professional athlete?
panopticon
Superstar
With any kind of discipline and basic planning, anyone can live a fantastic, upper-middle class standard of living off a 7 figure settlement for the rest of your life.
It doesn't even take real knowledge of investing. Municipal bond interest is tax-free. Purchase a Vanguard super-low expense ratio municipal bond mutual fund and live off the interest.
Problem solved.
If you want to do more (and earn more)
, the options are limitless - but the important thing is that there are zero-thought-necessary options available that yield more than enough for someone to live a great lifestyle. 
You don't need to be a genius to invest in a Vanguard mutual fund - them nikkas will even take care of it over the phone if you don't know how to work a computer
Field Marshall Bradley
Veteran
You know a few athletes? The posters brothers said athletes are dumb.... at least that's the way I read it....when a lot of times that's not the case at all.... ask the poster who posted that if his brother works with MLB players...... Jake Peavy and few other MLB players got referred to as victims of fraud when they got ganked out of 10 mil plus each...... none of them were referred to as stupid.... when Elway got milked for 15 million in a scam, they damn near wanted to call for an economic reform...... but they didn't dare label him stupid or irresponsible....... you see how this works?
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 oneIf 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
You have a link for that?
I wish a smart ex player would open up a free financial service program for all members of the NBA union. More than a class, but just like a pro bono service to answer questions, help rookies get set up and help fix things for vets who are bleeding cash.
Piff Perkins
Veteran
I agree that she's in trouble, but I don't believe BoA or ML will get clapped. Given how hands off Kwame was with his accounts, I'd bet money that ML's lawyers will be able to argue they couldn't be expected to determine which decisions were his and which were forged. This happens often and banks don't lose in court a lot.
Mr. McDowell
The Brotha's Got His Own Money
These financial advisors
They are criminals.
David_TheMan
Banned
They are going to have to show they practiced due diligence and due care.
If they never even contacted him to verify that is their ass
LBJ was rare, he was taught this at 17. Most never get this. The NBA also has decided that this is a critical area since Silver took leadership
