It's too many NBA players who go broke. It's insanity tbh, if they just lived a pretty well-off regular person style lifestyle they'd never have to work again and would be sitting pretty and living life to the fullest for the rest of their days.
These guys could throw their money into an ETF like QYLD with a monthly dividend. Reinvest half of the dividend each month. Getting 200-300k a month to live on and every month it would in increase by 1-2k. But instead we are stealing bottles of Tito’s. How do you even attempt that, other than walking out with it in the open? You can’t stick that anywhere on your body to hide.
i dont understand why so many athletes are idiots... smh If ur making millions... setup a 401K, get a driver, get a bag man, use professional escorts... I guess they think they are invincible and nothing can touch them...
Yeah its sad, i remember that Jalen Rose did a special video explaining how atheletes go broke. When he broke it down you can see how it can happen, but in THIS day & age of 2026 where they literally could open their own Robinhood account and do it. its inexcusible. I get they really only see maybe half or 1/3 of that after taxes and agent fees etc. But if you touch 1 mil + of money that is more than enough to never be broke again and live a comfortable life.
If these guys would, during their careers, just put half of their earnings into high-yield savings accounts and not touch them, the interest alone after their careers were over would allow them to live very comfortably for the rest of their lives in any city in the US. And that is just the absolute bare minimum "I don't know and I don't care" level of financial wisdom. You could do even better than that using a normal mixed portfolio. I guess these guys just get used to living insanely extravagant lifestyles as players and then expect to be able to keep that up after they retire, and end up screwing themselves over without even making themselves happier. (There have been a lot of studies on this and past a certain point, more money does not equal greater happiness.)
I wouldn't even live that extravagant life AS a player if I was them, it's crazy. If you just lived a similar life to somebody who was earning 200k a year (I dunno about the US, but in the UK £200k puts you in the top 1%) you'd live a very comfortable, luxury filled life and between savings and smart investments literally start any business you wanted after your playing days and still have major bank left over to do whatever you wanted. I've seen it a couple of times throughout the years in different sports of athletes who barely spend a dime and then come out set up for life.
Hello fellow Colorado resident Yeah, Castle Rock is a racist sh*thole suburb. Pretty location though.
