RealGM

https://www.yahoo.com/news/ex-lakers-trevor-ariza-reveals-103008093.html?guccounter=1

He hasn't paid his taxes since 2022. He has no monthly income. He pays $24,000 per month in child support and has monthly expenses of $37,008. He has negative $230,000 in cash and his real estate is worth negative $4.7 million.

That child support # should have been adjusted a long time ago. But being broke is on him. Inexcusable when you've made that kind of bank as a player

They should really make a player's union pension.

There is zero reason any nba player should be beoke.

I feel bad for anyone who goes through hardships, but some serious mistakes were made here. He's spending way too much on just about everything, his investments failed and it doesn't seem like he managed his money well. It also doesn't seem like he has made any changes or done much like get a job to improve his situation.

All he had to do was just put his money in a savings account somewhere and he would have ended up richer longterm.

LarsV8 wrote:They should really make a player's union pension.

There is zero reason any nba player should be beoke.

They have a pension. They don't get to tap it until they are 62 years old.

LarsV8 wrote:They should really make a player's union pension.

There is zero reason any nba player should be beoke.

They do but Ariza is still of working age. Pension is for those 60+.

I really have no sympathy for the guy. There's an insane amount of help and information out there. Really no excuse to be this terrible with money.

He's still alive, has his health and still has his name. He will still have a great life, just not a generational wealth builder.

The court file says that his mortgage is 19K/month.

Sorry but you can easily downsize into a very nice home for $2K-$4K per month. Get it together my guy.

LarsV8 wrote:They should really make a player's union pension.

There is zero reason any nba player should be beoke.

While I agree that former NBA players shouldn't be broke, I don't think a pension is the solution.

Ariza had a 17 year career in the NBA. At one point he had a four year, 32 million dollar contract. Him being broke is on him.

He should get a job in ESPN. Easy money

zimpy27 wrote:I really have no sympathy for the guy. There's an insane amount of help and information out there. Really no excuse to be this terrible with money.

He's still alive, has his health and still has his name. He will still have a great life, just not a generational wealth builder.

Umm, he has negative 200k in his bank account right now.

That's a pretty steep debt to overcome.

Dominator83 wrote:That child support # should have been adjusted a long time ago. But being broke is on him. Inexcusable when you've made that kind of bank as a player

That’s what he’s trying to do now.

Chuck Everett wrote:

LarsV8 wrote:They should really make a player's union pension.

There is zero reason any nba player should be beoke.

They have a pension. They don't get to tap it until they are 62 years old.

Yea, but NBA retirement is like 38 years old.

I have seen NBAPA retirement statement of a player that made much less than him..

Ariza will be fine. He ain't broke just cash poor.

Sent from my SM-S938U1 using RealGM mobile app

Iwasawitness wrote:Him being broke is on him.

Well yes, it is on him...but.

These guys get spoon fed basketball, and basketball only from age 10. Basically everything gets paid for, and there is very little real world opportunity to learn the lessons of money.

There might have been a personal finance presentation at some point in there, but I doubt a good number of these folks are prepared to handle personal finance.

The resources and the organization is there to hedge against these types of situation. I am not talking about the guy should be getting millions of dollars or something, but there should definitely be some sort of social security type mechanism to prevent these guys from going homeless.

I think I read somewhere that AI was almost homeless as well, but somewhere along the line someone was kind enough to set up a trust fund for him.

LarsV8 wrote:

Iwasawitness wrote:Him being broke is on him.

Well yes, it is on him...but.

These guys get spoon fed basketball, and basketball only from age 10. Basically everything gets paid for, and there is very little real world opportunity to learn the lessons of money.

There might have been a personal finance presentation at some point in there, but I doubt a good number of these folks are prepared to handle personal finance.

The resources and the organization is there to hedge against these types of situation. I am not talking about the guy should be getting millions of dollars or something, but there should definitely be some sort of social security type mechanism to prevent these guys from going homeless.

I think I read somewhere that AI was almost homeless as well, but somewhere along the line someone was kind enough to set up a trust fund for him.

And you know what? That's their own fault.

I can understand being in your 20s and letting what feels like unlimited wealth go to your head. But by your 30s, you should at least be mature enough to understand that basketball isn't going to be around forever, and at that point you should already have been planning for the future.

AmusingFiddle wrote:I have seen NBAPA retirement statement of a player that made much less than him..

Ariza will be fine. He ain't broke just cash poor.

Sent from my SM-S938U1 using RealGM mobile app

His current bank account is -230k and he has no job.

He's broke.

The series of mismanagement errors he made to get there with the amount he made is staggering. His contract earnings alone were nearly $120 million.

Are we going to keep posting every time a player is broke? Why would we care if a player is broke or not?

It seems that Trevor Ariza forgot to manage his money. Hopefully with his basketball skills, he can get a coaching or assistant job. Oh and based on the article, he might want to downgrade his lifestyle. Taking that much from retirement is going to really hinder you when you’re older.

Trevor listed his monthly expenses as $37,008. He said he spends $18,850 on his mortgage, $458 a month on maintenance, $2,000 on health care expenses, $2,000 on groceries, $1,000 on utilities, $600 on his phone, $500 on his laundry, $500 on clothes, $2,000 on education, $4,300 on auto expenses and $3,300 on a car loan.

That is a lot when you don’t have a job.