Over half of NBA players go broke after retiring

[NotWorthy]

I think taxes and recurring costs are what get to people. I have a friend who recently got very rich and bought a huge house. His property taxes on just the house are WAY more than I make in a whole year. He probably pays more for electricity than I pay for mortgage. I think boats and fancy cars are also subject to luxury taxes and large maintenance costs. So if your cashflow stops and you can't pay the taxes /upkeep and your forced to sell stuff off at a loss (because its very hard for famous people to get good deals) I can see how you can go broke very easily.

[KWALI]

There's poverty and illiteracy wherever you go. It's ignorant to generalize the population when it certainly does not apply. Inner city kids are too busy balling in the playground, dealing and doing drugs, and joining gangs. For every person that comes out of the hood to make it in the NBA, there's probably a thousand more that didn't. People don't realize that they should just apply themselves in school and get the most out of what they've been given. There's absolutely no reason why there should still be illiteracy and poverty.

You realize you contradicting yourself right..you a generalizing another group of people and sayin the majority aren't smart enough to get an education which is free wherein other countries people don't get that benefit.....but I am wrong to say they aren't very smart......Riiiight.

What do you really know about what your writing? What's all this inner city **** there are dumb but ****s out in every rural setting i the U.S just drive through the country sometime.

[boozehound]

1/2? I'd bet that's very exaggerated.

yeah they admit its an estimate. but im not too suprised since the ostentatious display of wealth is accepted and even expected in the cultural context. add that to the hanger's on and moochie family/community expectations.

did you see the detroit free press on shaq's expenses a month? he spends 250k a month on gas and over 7 grand on dry cleaning. how is that even possible?

[Make It Rain]

You realize you contradicting yourself right..you a generalizing another group of people and sayin the majority aren't smart enough to get an education which is free wherein other countries people don't get that benefit.....but I am wrong to say they aren't very smart......Riiiight.

What do you really know about what your writing? What's all this inner city **** there are dumb but ****s out in every rural setting i the U.S just drive through the country sometime.

Uh because we're talking about the NBA. And a good percentage of the players come from the inner city.

[Real Men Wear Green]

yeah they admit its an estimate. but im not too suprised since the ostentatious display of wealth is accepted and even expected in the cultural context. add that to the hanger's on and moochie family/community expectations.

did you see the detroit free press on shaq's expenses a month? he spends 250k a month on gas and over 7 grand on dry cleaning. how is that even possible?

If they're just guessing, I wouldn't take it too seriously. O'Neal probably spends that much on gas because of all the gass he buys for other people, including his businesses and family members with cars. And his expenses wouldn't be the ones to mention here, as he's monetarily done well for himself...due to investments, ventures, endorsements etc. he's never spent any of the money he makes from the NBA.

[boozehound]

If they're just guessing, I wouldn't take it too seriously. O'Neal probably spends that much on gas because of all the gass he buys for other people, including his businesses and family members with cars. And his expenses wouldn't be the ones to mention here, as he's monetarily done well for himself...due to investments, ventures, endorsements etc. he's never spent any of the money he makes from the NBA.

no Im just using his "expenses" as an example of the ridiculous standard these guys are trying to achieve. its no wonder someone with bad financial management would blow through their millions quickly once the checks stopped coming in if they are driving a million $ and wearing half a mil.

[Real Men Wear Green]

no Im just using his "expenses" as an example of the ridiculous standard these guys are trying to achieve. its no wonder someone with bad financial management would blow through their millions quickly once the checks stopped coming in if they are driving a million $ and wearing half a mil.

It definitely happens, I'm just not buying the "over half" business. I'm curious as to who they have been keeping track of to come up with this number. Guys that hung around for three seasons at the minimum? Guys that played 20 years ago? 30? It's a skewed, somewhat made-up statistic.

[Niquesports]

Status is all relative. When all your friends got somethin and you dont, you feel like a broke ass, and maybe you over-spend to get somethin fresh or popular.

Guys in the league are teammates with dudes like Shaq and Lebron and them who rock the most insane expensive ****. It sounds crazy but when you're makin 2 million a year and your goin out to clubs with guys that are makin 17 million a year, that can make you feel like a chump.


Dudes will try to keep up with the guys who make the most dough and floss the most BL!NG BL!NG. They end up runnin out and lookin like retards when they retire.

It sounds ridiculous but in the NBA when you're "only" makin 2 or 3 mil a year, that's chump change. You can get caught up tryin to roll like the TMac's and Marbury's and them and then end up forced to turn preacher like Hammer after you retire so you can get paid by the collection plate.

This is coming from a person that Im willing to be 2 mil. has never personally met an NBa player.
Doesn't know anyone making over $1oo g's a year and for my money lives at home with Mommy.
Stop playing the sterotype race game how much money did you save from your Wal-Mart check ? For the record after 5 years a player gets a pension. Which is more than you get working at Pizzza Hut

[boozehound]

It's a skewed, somewhat made-up statistic.

no its definitely made up and not statistically derived # at all.

[Niquesports]

yeah they admit its an estimate. but im not too suprised since the ostentatious display of wealth is accepted and even expected in the cultural context. add that to the hanger's on and moochie family/community expectations.

did you see the detroit free press on shaq's expenses a month? he spends 250k a month on gas and over 7 grand on dry cleaning. how is that even possible?

Before I spen any more time and give another fool my time who are they ? that is saying this. How are Rock stars doing ? Has anyone seen Britney Spears and how is she doing with her money?

[Valliant13]

Book smarts have nothing to do with it. Shaq doesn't seem like the smartest guy (book wise not street or bball IQ) and her did well with his loot. He talks like he's still using his bonuses and Reebok $$. It all depends on family and investments. If you haev a greedy family that wants you to pay everyithng then you'll go broke. I know some guys that didn't graduate HS and are great with money and the oposite as well.

Just look at the way you live now and imagine if your income stopped at 30-35. would you go broke?

Shaq has an MBA from the univeristy of Phoenix, and stated he will pursue a doctral degree in criminolgy when he leaves the NBA. He is both book, and real world smart.

[Niquesports]

There's poverty and illiteracy wherever you go. It's ignorant to generalize the population when it certainly does not apply. Inner city kids are too busy balling in the playground, dealing and doing drugs, and joining gangs. For every person that comes out of the hood to make it in the NBA, there's probably a thousand more that didn't. People don't realize that they should just apply themselves in school and get the most out of what they've been given. There's absolutely no reason why there should still be illiteracy and poverty.

IF this is the case why are more poor white on welfare that blacks. Try and go thruogh some trailer parks and see if your logic fits.

[Niquesports]

A good portion of the league come in young and really uneducated. They grow up in bad neighborhoods with bad influences. And the hip hop music videos don't help much either. I'm not surprised at so many players going broke. You can leave the hood but the hood can't leave you. Smart players like Okafor are getting rarer and rarer. That guy graduated UCONN with like a 3.8 GPA. Hell, I graduated college with a 2.6 GPA and I didn't even participate in an athletic program.

Ok a 2.6 at a Community College doesnt count because if you had a clue you would not be talking the way you are.

[boozehound]

Before I spen any more time and give another fool my time who are they ? that is saying this. How are Rock stars doing ? Has anyone seen Britney Spears and how is she doing with her money?

wow, why dont you bother to read the source in the op? its the players association and the league putting up this #. why are you so defensive? got a bling habit yourself?

[Niquesports]

Well, if you're not an idiot, you'd invest. If I even made the NBA minimum salary for a year, I could invest a large portion of that and try to survive off of the interest and leftover money as I continue to re-invest. NBA players, in general, are stupid.

Ok NBA players are Stupid ???????????

You spend your day on your computer talking about them and they can care less about you you seem like the type that got posters jerseys hats and tee-shirts for your favorite player and he doens't even no you exist. Then you are supporting something with no proof just made up. You say "IF I EVEN MADE THE NBA MINIMUM" ? how are you doing with the money your making at Toco Bell's ?????????????