Former Blazer Sebastian Telfair Gets Prison Time

Players should live off of endorsement money, and put most of your paychecks in the bank/invest for when your career is over.

 

Weren’t there a bunch of other names involved in this? How does Telfairs sentencing match up
against the rest?

 

With stuff like this and reports about Malik Beasley… It’s wild to be honest, but they also say that a lot of people who win the lottery end up filing for bankruptcy.

Y'all seen that video of Delonte West asking for money at a gas station, talking about how he gave all his money away to family?

If you make it in the league you should be set as long as you are smart with your money. But it’s more common than one may expect for professional athletes to end up in a bad financial situation. I figure most of the time it’s just wild over spending.

 

Had he just put it in an ordinary savings account he'd be doing great. I know he has a rough day start in life but he also has an opportunity few did. Made more money than 99%. Even after conviction had chance to avoid jail.

 

Man..... I feel bad for Bassy. He was always super cool with me. I'm sure he has changed a lot in 20 years but it's hard to reconcile the memories of that 18 year old kid with what he has done. Just tragic.

 

Yeah, he was way too short to be a shooting guard.

 

Yup, a simple portfolio can spit out 7% compound annual growth rate with reasonable risk

Stocks (60%)
$3 mil in the SP500
$2 mil in international index fund
$1 mil in US small value index fund

Bonds (40%)
$3 mil US treasury bonds
$1 mil international bonds

That can spit out 7% compounded annual growth rate over the long term. Account for 3% inflation and you can live off of 4% every year, adjusted for inflation, for eternity, and still have $ left for your heirs when you die.

Summary: with $10mil usd invested in a simple portfolio of stocks and bonds, you can live off of $400k / year adjusted for inflation for life.

 

Does anyone else find it pretty ironic that John Nash and Steve Patterson were brought in to clean up Portland's Jail Blazer image, and one of the very first guys they draft ends up being the only one to actually do prison time?

 

I know NBA rookie orientation included financial management and dealing with friends and relatives coming out of the woodwork looking for handout.
I get a kid right out of high school making shit tonight of money could lose control. But Telfair was no kid at later years.

 

If he was that type of person he wouldn't be Sebastian Telfair anymore. That type of person doesn't turn into Bassy.

 

And some experts speculate that it causes global warming.

 

Hey that's not fair...... look at how Dame's Adidas contract has held him back!