OT: Professional Athlete Finances
Posted: Thu Mar 19, 2009 6:50 pm
http://vault.sportsillustrated.cnn.com/ ... /index.htm
I wrote a big long article with a few other people on here one time about "how NBA players go broke". After reading this, I covered a lot of the items, but completely mis-stressed some of them due to unfamiliarity with the subject (doing just rough approximations off guesses as I was).
This article has a lot of good stuff in it, including tips for avoiding several common financial mistakes that both myself and people I know have fallen prey to (albeit at a MUCH smaller and more manageable scale - thankfully I realized most of them prior to this article and have since learned some things to avoid).
Just a very good read.
I guess I should note that my brother and sister-in-law swear by Dave Ramsey, who might not be a bad idea either if you want to look further into some things. (they're outstanding at managing their money and running budgets, and understanding a lot of the numbers and practices involved in these sorts of things, so I very much respect their opinion on him and am going to second it with a finance specialist I'm friends with to be sure)
There's really not much point in working to accrue assets if you don't know how to manage them, after all...
p.s. is anyone else in favor of having "Taxes" renamed to "Existence Licensing Fee" (in memoria: http://www.fdic.gov/bank/individual/fai ... klist.html )
I wrote a big long article with a few other people on here one time about "how NBA players go broke". After reading this, I covered a lot of the items, but completely mis-stressed some of them due to unfamiliarity with the subject (doing just rough approximations off guesses as I was).
This article has a lot of good stuff in it, including tips for avoiding several common financial mistakes that both myself and people I know have fallen prey to (albeit at a MUCH smaller and more manageable scale - thankfully I realized most of them prior to this article and have since learned some things to avoid).
Just a very good read.
I guess I should note that my brother and sister-in-law swear by Dave Ramsey, who might not be a bad idea either if you want to look further into some things. (they're outstanding at managing their money and running budgets, and understanding a lot of the numbers and practices involved in these sorts of things, so I very much respect their opinion on him and am going to second it with a finance specialist I'm friends with to be sure)
There's really not much point in working to accrue assets if you don't know how to manage them, after all...
p.s. is anyone else in favor of having "Taxes" renamed to "Existence Licensing Fee" (in memoria: http://www.fdic.gov/bank/individual/fai ... klist.html )
