Sprewell Is Broke

[Monkeydad]

Originally Posted by SmootSmack

Wasn't Shaq spending something like $23,000 per month on gasoline?

The Diesel must be drinking it, literally.

[hooskins]

Originally Posted by Buster

The Diesel must be drinking it, literally.

It is also gas for his boats. So I guess I would understand why it would be several thousand, but not 23k lol.

[SmootSmack]

Originally Posted by redsk1

Not really. I just don't understand why you cant sock away a couple million and invest it wisely so it grows to let's say 4 million in 8-10 years. 4 mill @ 6% return= $240k a year in earnings.

It's all about spending though. Money doesn't last forever.

The problem becomes all the money that they dole out not only to their agents, lawyers, business managers, etc. but then it's the house you buy for your parents, the new Bentleys for your teenage siblings, the boat for your cousin's nephew, the "investment" in your high school buddy's new business venture, and so on.

[redsk1]

Originally Posted by SmootSmack

The problem becomes all the money that they dole out not only to their agents, lawyers, business managers, etc. but then it's the house you buy for your parents, the new Bentleys for your teenage siblings, the boat for your cousin's nephew, the "investment" in your high school buddy's new business venture, and so on.

Yeah, it's really unfortunate they don't have someone in their ear that's giving them sound financial advise. I'm sure every NBA player has friends/brothers/cousins/inlaws/ asking for this and that, but you've got to draw the line somewhere. I agree though.

[BDBohnzie]

You'd think Charles Schwab would have a Pro Athlete division...or perhaps they would have Warren Buffet on speed dial.

[FRPLG]

Just because you make money doesn't mean you know how to handle it. There are millions of people in our country who are in dire financial straights because of bad money decisions and irresponsibility but it isn't PC to point this out when discussing welfare and so forth. It is OK to lambast Sprewell though and that is a double standard.

The ways he got to be poor is the same way millions of others have and it is a serious scourge on our country right now.

[Riggo44]

Originally Posted by FRPLG

Just because you make money doesn't mean you know how to handle it. There are millions of people in our country who are in dire financial straights because of bad money decisions and irresponsibility but it isn't PC to point this out when discussing welfare and so forth. It is OK to lambast Sprewell though and that is a double standard.

The ways he got to be poor is the same way millions of others have and it is a serious scourge on our country right now.

That's a good point. If everyone could budget there money better the credit card company’s would be screwed.

But when you see a guy's like Sprewell or Tyson waste more money on things like boats,jewelry ,pet tigers in a year then I will ever make in my lifetime. It's kind of hard to care about them when all of a sudden there broke.