Except often times those 6 cars are for their family members, not themselves. and the 3 houses are for family and friends to stay so they aren’t living in the ghetto anymore. and so they can send the other kids to better schools you do know MTV cribs wasn’t an *actual* reflection of their homes, right? They’d bring in designers to make it look more lavish than it was. a lot of you are showing your own inherent biases and ignorance towards the plight of *many* pro athletes — most who grew up extremely impoverished. This is a great example of “two Americas” additionally, a majority of them aren’t actually bad with money, but make bad investments (which is the actual #1 reason they go bankrupt), support too many people, and pay outrageous amounts in divorce settlements, child support, etc. edit: Also, if you understand jewelery, particularly high end watches — most are actually investments that increase in value. Sure they buy stupid shit, as we all do, but to act if your situation or most others is remotely close to theirs is disingenuous at best. I’m sure most of you weren’t supporting 4+ people from the time you were 21 (and often a lot more than 4).
This is exactly what Ballers demonstrated within the show, I come from a different background so had no idea and how these guys could go bankrupt after making millions. But after watching it, it made a lot of sense and was fascinating. I enjoyed the show but unfortunately don’t have hbo anymore.
I know people who make $40k a year who are not living paycheck-to-paycheck and I know people who make $150k a year who are. I figure how people spend their money is their business until I have to subsidize their mistakes. Until an NBA player files for unemployment, I'll hold out passing judgement.
So these family members can't work themselves? I suffered through shit jobs and crappy apartments when I was young. If I had a rich uncle that gave me 100k+ a year to sit on my ass it wouldn't have helped me develop my ability to provide for myself. Any person making 10million+ has no excuse to end up broke, they are an idiot.
Sure they can. You can work and still be poor. Lots of people are in that circumstance. You're talking about a different scenario--an older relative giving someone just starting out money in place of them working. That's not the situation here...the athletes are the young people and are usually supporting or helping support older relatives who aren't well off and who, in many cases, knocked themselves out trying to put food on the table for the child who's now become wealthy. Your hypothetical has nothing to do with that.
I grew up poor and don't make millions so I'm super cheap. If I grew up poor and made millions I'd give tons to my family too. I'd hope to invest it well enough but if I went broke at least I lived it up. I'd feel dumb like anyone else but if you grow up poor you gotta figure you can live that way again. You don't just die, you go on.
The most important thing one can learn is to say no. Help your immediate family, other than that, say no unless it's an emergency. This concept of supporting all of your friends and extended family is bullshit.
So you think giving tons of money to friends and family helps them? Give a man a fish he eats for a day. Teach him to fish and he can feed himself forever.
Most people can work their butts off and not get that kind of money. I would want to take care of them so actually setting up a fund to help them would be a good thing. Buying an alcoholic brother booze isn't the type of thing I'm talking about. I guess I'm just a more generous type.
sorry, but i dont feel sorry for people who make millions to be out of work. they should have been more frugal than that. nba players living paycheck to paycheck..... give me a break.
i stand corrected. maybe these guys live paycheck to paycheck, but that is certainly not 1/3 of the league....
I run into these situations a lot with my family. For the most part, we grew up poor. I live comfortably now and try helping them keep ahead of the game. However, only a few have been able to transition out of being poor due to continually making bad decisions. Instead of letting them take me down, I cut them off. Would also say that growing up rich can also make a person bad at making financial decision making. If they never had to work to get a certain lifestyle, it can be taken for granted. I see people that make no where near what they spend since it was the norm growing up. When my kids say they want to be a certain profession, I ask them if they are ok with not being able to do some of the things they currently enjoy. Best lesson my grandparents taught me was to live below my means.
Guess it depends on what they use that money on. If they are paying for an education or starting a business?
A former NBA guy called Olshey last year asking for a scouting job. He had signed a $42M deal about 8 years prior and wanted the job for monetary reasons, not trying to get into the business and move up the ranks. Neil reminded him that this job might pay $65,000. He didn’t take it. But point being...Dude was borderline broke. $42 million in a span of 8 years.
