TheSecretWeapon wrote:payitforward wrote:One thing to notice is that guys like Singleton, who aren't good enough to make the many millions of $ NBA teams pay, are still able to earn a ton of money playing basketball. If they are smart, and they have good people handling their affairs, every one of these guys will wind up a very rich individual by his mid-30s.
Dray seems to be very serious now about building his financial future. If I had to guess, I'd say the $$ he earned his first few seasons evaporated just as quickly as it came in. These days he seems to building a nice big bundle. Good for him.
I've heard from many athletes that the first contract for a lot of guys ends up getting spent. It's when they sign the second deal that many get serious about building wealth.
I think in a lot of ways, pro athletes are like lottery winners. They get a lot of money and attention -- and a lot of people coming around to try and get some of that money. And, like a lot of lottery winners, they end up burning through a lot of money. Good thing for athletes is that if they're good enough, they get a "do-over" of sorts with additional contracts. Many lottery winners end up bankrupt because that's their one shot at winning.
They better have prenuptial agreements and a whole lot of protection which they dispose of. It only takes one baby momma and family court to take all the wealth.
Don't catch a case over some BS. Lawyers are like piranhas if you're ever unfortunate enough to end up in family, civil, and or criminal court. Heck you could be in all three and lose a job at the same time over baseless, patently false accusation. The good news is when all your stuff is gone and your kids are taken away, and even if after all that your best friend/dad dies; you can still know that God is good all the time.
I KNOW how NBA players end up broke. Trying to be nice. Being good people but falling prey to bad people, many so-called friends and relatives. Crooked accounting. Mismanagement or embezzlement of players funds. Baby momma honest, or gold digger. Wife wants to buy .... Trusted friend figuratively shanks you financially. Pretty woman .... women. Older or younger women with agenda. A dude you might have beaten up, even in self defense. You're going to pay one way or another.
The happiest I ever was when I occasionally slept on floors or lived out my car, when I was working my way through college. Some of us slept on the floor. I recall washing up in bathrooms in academic facilities, occasionally. I chose to make it on my own. Had GREAT friendships. One buddy was poor growing up but learned how to turn his mom's electric back on. ((I trust he was honest). We got by on pooling resources. Spiced ham deli slices. Gallon of fruit punch. Girls who worked at Pizza Hut or Chesapeake Bay Seafood or campus bookstore would hook us up on okie doke, sometimes.
I Loved It back when Pizza Hut would give your meal free if your Personal Pan Pizza took more than 5 minutes! One of my friends or more ate free if the right waitress was on shift.
I digress. Poor was fun when I didn't perceive myself poor. I bet a lot of NBA guys find peace even after they blow through (no pun intended) all their money.