Bogut spoke about this a few summers ago about how NBA players buy stupid things and wonder why they go broke soon after retirement. Case in point: Marquis Daniels is a fucking moron.
When you make that much money, the type of lifestyle you life will require you to spend big bucks, just like a less wealthy individual will learn to live using less money. And the interest that accumulates in the bank is pretty measly, even if you take into account the large amount that they would have in there. The smart thing is always to make investments, though he probably should have looked at some lower-risk/lower-return alternatives.
According to a Valet that worked there, he had a HUGE appetite for high end hookers when he lived at the Benson Hotel. Some times 5 girls a night, multiple times a week. I doubt he tipped them!
Another NBA player is broke. Derrick Coleman files for bankruptcy. According to Basketball-Reference he made $91,366,800 during his NBA career.
The salaries these guys get paid to play a sport, and the subsequent way in which the majority of them waste it is, well its just offensive and a slap in the face to average, hard working folk really. No wonder the worlds F'*d up!
Well, then the average hard working folk should quit spending absurd amounts of money to see them play, no? barfo
Even a 6 month CD, having some money locked up would prevent me from spending on stupid crap. Yes the interest is horrible for a 6 month, 1 year or 2 year CD but its better than siting in your account which you can easily withdraw. I would invest into everyday stocks such as 3M, Kelloggs, etc which are constantly needed in the US. 3M has scotch tape and tons of hospital supplies and Kelloggs has the breakfast nitch.
Heres more on Antoine Walker by ESPN. http://sports.espn.go.com/nba/columns/story?page=100320otlwalker
Walker and Anderson . . . Wow. The stupidity is unbelievable. They can talk all they want about taking care of their friends and their family, but it's clear that they were living hugely extravagant and wasteful lifestyles, and never thinking about tomorrow. They have only themselves to blame for where they are now.
There is sometimes a big difference between 'bankrupt' and 'broke'. I doubt few of these bankrupt high-rollers are actually "flat broke" but in the case of Antoine Walker, I hope it's true.
Heres more on Coleman source: http://sports.yahoo.com/nba/blog/ba...an-is-almost-5-million-in-debt?urn=nba,233379
