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Getbig Main Boards => Gossip & Opinions => Topic started by: Devon97 on May 13, 2010, 10:04:59 AM

Title: It happened again! 60$ mill and BROKE!
Post by: Devon97 on May 13, 2010, 10:04:59 AM
How do they do it lol ;D

http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Kenny-Anderson-graduates-this-weekend?urn=nba,240794 (http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Kenny-Anderson-graduates-this-weekend?urn=nba,240794)

More proof to all the  Dillusional GetBig Billionaire Boys club who believe the fairy tale that a million bucks and you are LOADED for life ! ::)
Title: Re: It happened again! 60$ mill and BROKE!
Post by: spinnis on May 13, 2010, 10:09:27 AM
How do they do it lol ;D

http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Kenny-Anderson-graduates-this-weekend?urn=nba,240794 (http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Kenny-Anderson-graduates-this-weekend?urn=nba,240794)

More proof to all the  Dillusional GetBig Billionaire Boys club who believe the fairy tale that a million bucks and you are LOADED for life
! ::)


if you're smart then you're set for life, if you're black its apparently impossible unless your name is michal jordan or Magic Johnson
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 13, 2010, 10:12:38 AM
i'm taking bets kevin garrett wont end up on fuckedcompanymymoneyup .com - Lubricant of Rich Athletes.  he dont like to tip the pizza driver and teams say he wont pick up the check for anything.  
Title: Re: It happened again! 60$ mill and BROKE!
Post by: ThaRealist on May 13, 2010, 10:15:21 AM
i'm taking bets kevin garrett wont end up on fuckedcompanymymoneyup .com - Lubricant of Rich Athletes.  he dont like to tip the pizza driver and teams say he wont pick up the check for anything.  

Sounds like one of the few smart brothers out there
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Army of One on May 13, 2010, 10:15:33 AM
After taxes he got about 30 mill, spread over 15 years thats 2 mill a year, they think the well wont dry and buy everything on finance, add in the 7 kids he has with 5 different women and you have a recipe for disaster.If you are Joe schmoe from blowsville and nobody knows you and you have no image to live up to then you could easily exist on 5-6 mill and have a great life.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 13, 2010, 10:18:40 AM

if you're smart then you're set for life, if you're black its apparently impossible unless your name is michal jordan or Magic Johnson


here you go again idiot:   juluis erving (cola distri), david robinson (solid investments), ronnie lott (invest firm), willie gault (% owner hawaiian airlines, etc, bo jackson (solid invest), herschel walker (several companies), and lots of others.  usa media doesnt pipeline successes in the afro-american community...only clowns and a-holes.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: SF1900 on May 13, 2010, 10:23:42 AM
After taxes he got about 30 mill, spread over 15 years thats 2 mill a year, they think the well wont dry and buy everything on finance, add in the 7 kids he has with 5 different women and you have a recipe for disaster.If you are Joe schmoe from blowsville and nobody knows you and you have no image to live up to then you could easily exist on 5-6 mill and have a great life.

Heck, you can live off of the interest if you had 5-6 million in the bank. Given, you are smart about it.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: spinnis on May 13, 2010, 10:24:29 AM
Imagine in a few years when he cant afford to send his kids to college..

"But dad you had 60 million dollars?"
Title: Re: It happened again! 60$ mill and BROKE!
Post by: ThaRealist on May 13, 2010, 10:25:11 AM
here you go again idiot:   juluis erving (cola distri), david robinson (solid investments), ronnie lott (invest firm), willie gault (% owner hawaiian airlines, etc, bo jackson (solid invest), herschel walker (several companies), and lots of others.  usa media doesnt pipeline successes in the afro-american community...only clowns and a-holes.

Hey there are plenty of brothers that made their money work for them and they should be highlighted and talked about, but it won't change the other 70% + that are hood rich and broke in 10 years
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 13, 2010, 10:32:27 AM
I swear to god I can't believe these guys. Every pro athlete that makes millions of dollars a year should get a quadruple vasectomy. It is unreal how much it costs these idiots in either child support or hush-money.  They are fucking stupid and deserve every single thing they get.  EVERY pro athlete fucks other women whether they are married or not.  NO ONE is with one chick.  The only way is when their wives travel with them.  I went to winterball with the Montreal Expos in St Petersburg., FL in 1977 as a walk on and they had their shit down.  They had two phones in the locker room.  One for wives and one for girlfriends.  Everyone watched each others back.  And minor leaguers get as much pussy as major leaguers.  Well not as much but a good amount and definitely not as hot.  The reason (at least back then) was if a girl was with you when you had nothing and coming up the ranks she couldn't be ridiculed for being with him just because he was rich (when he signed).  Then there were local chicks who just liked fucking ball players.  St. Pete is probably the worst (back then) cause it was 90% old people over 60.  The only time hot chicks were around was when their grandchildren came to visit.  These idiots who get married when they are making millions of dollars and traveling around the country each have at least one girl in each town.  God are they stupid
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Howard on May 13, 2010, 10:47:17 AM

if you're smart then you're set for life, if you're black its apparently impossible unless your name is michal jordan or Magic Johnson

Being black had nothing to do with it, being dumb and careless with your cash is the reason  c'mon no need for racist crap.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 13, 2010, 10:55:41 AM
Being black had nothing to do with it, being dumb and careless with your cash is the reason  c'mon no need for racist crap.

hey howard...keep in touch with anyone from the eagles.  the knights, us, were always the best.  ;)
Title: Re: It happened again! 60$ mill and BROKE!
Post by: spinnis on May 13, 2010, 10:57:37 AM
Being black had nothing to do with it, being dumb and careless with your cash is the reason  c'mon no need for racist crap.

it has to do  with in what conditons you were born in and how you were raised and lacking in complete common fucking sense.
mentioning dat alot of dem are black is funny though lol.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Tre on May 13, 2010, 10:59:10 AM
here you go again idiot:   juluis erving (cola distri), david robinson (solid investments), ronnie lott (invest firm), willie gault (% owner hawaiian airlines, etc, bo jackson (solid invest), herschel walker (several companies), and lots of others.  usa media doesnt pipeline successes in the afro-american community...only clowns and a-holes.

Black guys who get money have a greater responsibility to keep more of the cash in the community.  Just sayin...
Title: Re: It happened again! 60$ mill and BROKE!
Post by: polychronopolous on May 13, 2010, 11:00:02 AM
yeah but it feels so much better to cum inside a woman rather on her backside, totally worth pissing away millions of dollars over  ::)
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Tre on May 13, 2010, 11:43:01 AM
SPOT ON

No.

Cum on her ass and you own her, but cum inside her and she owns you.

Title: Re: It happened again! 60$ mill and BROKE!
Post by: Devon97 on May 13, 2010, 11:45:49 AM
i'm taking bets kevin garrett wont end up on fuckedcompanymymoneyup .com - Lubricant of Rich Athletes.  he dont like to tip the pizza driver and teams say he wont pick up the check for anything.  


Hopefully for his sake he doesn't have any illegitimate kids- thats what really contributes to the finiancial downfall of these geniuses -

CHILD SUPPORT! ;D
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Devon97 on May 13, 2010, 11:48:10 AM
here you go again idiot:   juluis erving (cola distri), david robinson (solid investments), ronnie lott (invest firm), willie gault (% owner hawaiian airlines, etc, bo jackson (solid invest), herschel walker (several companies), and lots of others.  usa media doesnt pipeline successes in the afro-american community...only clowns and a-holes.
[/glow]

LOL well they did a great job with the president! ;D
Title: Re: It happened again! 60$ mill and BROKE!
Post by: SamoanIrishman on May 13, 2010, 11:49:00 AM
Being black had nothing to do with it, being dumb and careless with your cash is the reason  c'mon no need for racist crap.

Indeed. Is it a "black" thing or culture thing? Athletes, Rappers etc...just happen to be black but do you think that their professional culture pressures them to be materialistic?

Is is because most grew up broke and weren't taught money saving / investing lessons from their parents? Lots of questions as to why they (refering to the professions of athletes, music and even some actors of all colors) have gone broke after making millions a year for some time.

thoughts?
Title: Re: It happened again! 60$ mill and BROKE!
Post by: brooklynbruiser on May 13, 2010, 11:56:32 AM

if you're smart then you're set for life, if you're black its apparently impossible unless your name is michal jordan or Magic Johnson


I guess Iceland has been annexed by Africa then.

Shuddup.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 13, 2010, 11:59:10 AM
Indeed. Is it a "black" thing or culture thing? Athletes, Rappers etc...just happen to be black but do you think that their professional culture pressures them to be materialistic?

Is is because most grew up broke and weren't taught money saving / investing lessons from their parents? Lots of questions as to why they (refering to the professions of athletes, music and even some actors of all colors) have gone broke after making millions a year for some time.

thoughts?

Very true.  Most of them are black.  It is not a racist thing.  It is just the fact that most (not all) black athletes grew up poor or in lower income areas.  Most have just one parent and so forth.  They are blessed with athleticism and can use that to get out of the ghetto (for a lack of a better word).  When you go from having nothing to millions it is rather dramatic and life changing.  So the celebration begins!  Everyone you know gets a nice present.  In alot of cases mom or dad get a new house and car.  Immediate family members get new cars.  Your closet friends get a car and a Rolex.  It gets out of hand fast.  White athletes have the same problem but for some reason most are more discreet.  And for some reason whites (in most cases) will seek out someone to help invest.  But, then that ends up bad too sometimes.  It is too bad these guys can't just be smart
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 13, 2010, 12:08:39 PM
Here is an observation.  You here mostly about blacks having this problem.  Most of them are basketball, football and baseball players.  Those sports are all predominantly black sports.  That is maybe why you here about blacks more.  But, how about tennis, golf (other than Tiger), hockey how many times do you hear about this problem with athletes in those sports.  Sure we'll hear about one or so here and there but not many.  White athletes are smarter (not racist).  And the players in those sports are all fucking around.  There are hot chicks in every city a pro athlete travels too.  And they all want to fuck and be a girlfriend on the side cause financially it is very positive for them.  Not to even come close in comparison but I traveled quite a bit in the 80's and I had a good time in 99% of the cities I went too.  And living in Hawaii you will be surprised how many girls from other countries and states want to do a local guy.   And in a few cases with me it was solely to get close to me so when they came to visit Hawaii again they could stay at my place. 
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Mr Nobody on May 13, 2010, 12:25:01 PM
Here is an observation.  You here mostly about blacks having this problem.  Most of them are basketball, football and baseball players.  Those sports are all predominantly black sports.  That is maybe why you here about blacks more.  But, how about tennis, golf (other than Tiger), hockey how many times do you hear about this problem with athletes in those sports.  Sure we'll hear about one or so here and there but not many.  White athletes are smarter (not racist).  And the players in those sports are all fucking around.  There are hot chicks in every city a pro athlete travels too.  And they all want to fuck and be a girlfriend on the side cause financially it is very positive for them.  Not to even come close in comparison but I traveled quite a bit in the 80's and I had a good time in 99% of the cities I went too.  And living in Hawaii you will be surprised how many girls from other countries and states want to do a local guy.   And in a few cases with me it was solely to get close to me so when they came to visit Hawaii again they could stay at my place. 
Wonder how much they are spending on quality hoes now days?
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Parker on May 13, 2010, 12:28:58 PM
here you go again idiot:   juluis erving (cola distri), david robinson (solid investments), ronnie lott (invest firm), willie gault (% owner hawaiian airlines, etc, bo jackson (solid invest), herschel walker (several companies), and lots of others.  usa media doesnt pipeline successes in the afro-american community...only clowns and a-holes.
And let's not forget Kareem Abdul-Jabbar, author, investor, martial artist/yoga, movie star,  role freaking model...
Title: Re: It happened again! 60$ mill and BROKE!
Post by: spinnis on May 13, 2010, 12:30:35 PM
 It is too bad these guys can't just be smart

Imo its more about not being RETARDED.

I doesn't take a genius to think "Oh shit, all of a sudden I got a Shitload of something I never had before, maby I should ehh    ....talk to someone that knows more then me about having all of this"

For example a financial adviser..

Everyone with a decent ammount of brainfunction should be able to figure that one out. no?

Title: Re: It happened again! 60$ mill and BROKE!
Post by: Parker on May 13, 2010, 12:38:07 PM
Imo its more about not being RETARDED.

I doesn't take a genius to think "Oh shit, all of a sudden I got a Shitload of something I never had before, maby I should ehh    ....talk to someone that knows more then me about having all of this"

For example a financial adviser..

Everyone with a decent ammount of brainfunction should be able to figure that one out. no?


What happens when you have a shitload of weed? Do you space it out so that you'll have some next month?
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 13, 2010, 12:41:52 PM
Imo its more about not being RETARDED.

I doesn't take a genius to think "Oh shit, all of a sudden I got a Shitload of something I never had before, maby I should ehh    ....talk to someone that knows more then me about having all of this"

For example a financial adviser..

Everyone with a decent ammount of brainfunction should be able to figure that one out. no?



You would think so but this isn't how it happens.  My very first job (in television) was an Apple Computer commercial.  Till then I worked at a refinery and painted houses.  Well I got a check in the mail for almost $10,000 for that commercial.  It was a national buyout that debut during the 1987 World Series.  It was everywhere.  I got so excited I went out and spent that shit in like a couple days.  And that was nothing.  but I just got so excited and thinking in my head that wow I can work for barely an hour and make this kind of money I'll be set for life.  Well believe me that didn't happen.  My close friend blew through $23 million in 4 years.  Not one real good investment.  Almost lost everything.  You get caught up in the moment.  If they would just take their time and have someone handle their financial matters that is trustowrthy then it would be different.  Some of these guys hire their parents who are just as bad.  It is simple until it happens to you.  But in most cases it is because of the way they grew up
Title: Re: It happened again! 60$ mill and BROKE!
Post by: funk51 on May 13, 2010, 12:43:27 PM
lenny dykstra and jose canseco are two  examples of blowing through there money. now they're selling off all their awards and rings and such. watch lenny on two segments of hbo's real sports, lenny is hilarious even as his world is crumpling around him he's talking about buying champion dogs and airplanes.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: spinnis on May 13, 2010, 12:54:37 PM
What happens when you have a shitload of weed? Do you space it out so that you'll have some next month?

Ofc, I have always been good in planning things and dealing with money (not that ive ever had alot but still)

Ive never Ever been broke.  Never been broke since I first got weekly allowence of 4.5$ a LONG ass time ago. When All of my friend were broke as pretty much every teen is when they're what 14-15 I was never.

My family didn't have alot of money so my parents never spent it on worthless shit so maby thats where I get my priorites from I dont know =)

But I actually say it proudly that I never been Completly out of money ever. Ofc more impressive if I was a father and had children to feed but still lol.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: BayGBM on May 13, 2010, 01:05:23 PM
It's not just athletes.  A third of lottery winners end up broke too.

Why Lottery Winners Go Broke: Prospect Theory At Work
http://www.thedigeratilife.com/blog/lottery-winners-go-broke-prospect-theory/

8 lottery winners who lost their millions
http://articles.moneycentral.msn.com/SavingandDebt/SaveMoney/8lotteryWinnersWhoLostTheirMillions.aspx

$315 Million Powerball Winner is penniless
http://blog.case.edu/james.chang/2007/01/16/315_million_powerball_winner_is_penniless

And, of course, it happens to actors and rock stars too.  ::)
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Devon97 on May 13, 2010, 01:17:49 PM
It's not just athletes.  A third of lottery winners end up broke too.

Why Lottery Winners Go Broke: Prospect Theory At Work
http://www.thedigeratilife.com/blog/lottery-winners-go-broke-prospect-theory/

8 lottery winners who lost their millions
http://articles.moneycentral.msn.com/SavingandDebt/SaveMoney/8lotteryWinnersWhoLostTheirMillions.aspx

$315 Million Powerball Winner is penniless
http://blog.case.edu/james.chang/2007/01/16/315_million_powerball_winner_is_penniless

And, of course, it happens to actors and rock stars too.  ::)


Bay , why do you think POwerbal and athletes are more common?

Movie stars and rock stars are in the minority as they don't "retire" nearly as early as athletes and can continue to work and receive revenue.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 13, 2010, 01:22:39 PM
Bay , why do you think POwerbal and athletes are more common?

Movie stars and rock stars are in the minority as they don't "retire" nearly as early as athletes and can continue to work and receive revenue.

beat me to that on answering bay.  nic cage, prince and billy joel got financial problems but there is no expiration date on their craft like athletes.  after last contract or bankruptcy...athletes looking for a new field with exceptions being something like golf or bowling.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Croatch on May 13, 2010, 01:24:40 PM
You have to admire someone for making so much money, yet barely eclipsing an IQ of 100.
They have the "fans" to thank for that.  If people followed mainstream professional sports as much as me, these guys would be making peanuts.
GO RAMS!!! haah ::)
Title: Re: It happened again! 60$ mill and BROKE!
Post by: BayGBM on May 13, 2010, 01:34:04 PM
Bay , why do you think POwerbal and athletes are more common?

Movie stars and rock stars are in the minority as they don't "retire" nearly as early as athletes and can continue to work and receive revenue.

Many athletes and movie stars are more broke than most people realize, but musical artists especially have less cause to go broke because (if they signed a good contract) their music will continue to generate royalties for decades--especially if the artist wrote the music (ASCAP).  Unfortunately, many young artists have bad contracts and most of the money they make goes to the producers/record companies: Toni Braxton an TLC are two good examples.

Many athletes are just big kids and they spend like kids with little thought to investment or scaling back their lifestyle to accommodate their present and (reduced) future income.

Anonymous lottery winners go broke for obvious reasons: they have poor money management skills, spend like crazy, and are drained by friends and family who leech off of them.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Thin Lizzy on May 13, 2010, 01:49:42 PM
The reason athletes and artists go broke stems from the fact that they think their talent is an ATM machine that never runs out of cash.

Athletes think they'll never get old. Artists think are always gonna be hot.

While race isn't the main issue, the importance of outward show viz. "bling" that is pre-dominant in African-American culture doesn't help.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 13, 2010, 02:15:10 PM
The reason athletes and artists go broke stems from the fact that they think their talent is an ATM machine that never runs out of cash.

Athletes think they'll never get old. Artists think are always gonna be hot.

While race isn't the main issue, the importance of outward show viz. "bling" that is pre-dominant in African-American culture doesn't help.

dont wholly agree with you but i have posted in the past that bling, baller, swagger, playa etc are financial death sentences in afro-american male youth sub-culture.  they set the stage for a spending frenzy when large sums of money are involved.

(http://www.rollbamaroll.com/images/admin/jamarcusbama1.jpg)

i'm a big LSU fan.  prove me wrong Jamarcus.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Croatch on May 13, 2010, 02:41:18 PM
The reason athletes and artists go broke stems from the fact that they think their talent is an ATM machine that never runs out of cash.

Athletes think they'll never get old. Artists think are always gonna be hot.

While race isn't the main issue, the importance of outward show viz. "bling" that is pre-dominant in African-American culture doesn't help.
I can understand a big house and nice car, but those faggy diamonds...haah, please.
Typical of people who never had money, then get some and don't know what to do with it, but buy pointless items.
Also typical of this type, what's the point of having money, unless others know you do...classy. ;)
Bill Gates could buy all these fools, yet doesn't dress like a douche.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: FREAKgeek on May 13, 2010, 02:50:33 PM
Article says Anderson has a degree in organizational leadership. The man will be president in 2012.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Tre on May 13, 2010, 02:54:12 PM
I can understand a big house and nice car, but those faggy diamonds...haah, please.
Typical of people who never had money, then get some and don't know what to do with it, but buy pointless items.
Also typical of this type, what's the point of having money, unless others know you do...classy. ;)
Bill Gates could buy all these fools, yet doesn't dress like a douche.

Gotta agree.

I grew up in a poor, middle-class family, so we never had extras or fancy clothes and I rarely cared, except when the better-dressed welfare kids would talk shit.  

Now I've got a big house - still paying on it, though - and I'm about to buy another, but I drive a 2007 pickup truck that I bought used and I wear cheap t-shirts and swishy pants every day.  As a result of not wasting money on clothes and bling, I can afford to take the kid to the theater or to pro sporting events (to see jackasses like Jamarcus!) and we can ski whenever we want.

I'm the first to admit that my kid is spoiled, but there's no question that she craves success, even if she is not yet fully aware of what it takes to get there.  

Title: Re: It happened again! 60$ mill and BROKE!
Post by: Dreadlifter on May 13, 2010, 03:03:29 PM
It's not just a black thing as some have said. I believe it's more a poor background thing. You just hear more about the few black ones who were throwing their wealth in peoples faces and being ridiculous with their spending.

I think they must forget what it felt like to be poor. I know if i'd come from a deprived back ground i'd be making damn sure i didn't end up that way again.

I'm glad someone raised the issue of actors and artists. It's ridiculous the amount of musicians that end up back out on tour every few years, because even though they've sold millions of albums and sold out arenas and stadiums all over the world, they've still ended up in the red.

It actually sickens me.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Matt C on May 13, 2010, 03:39:00 PM

if you're smart then you're set for life, if you're black its apparently impossible unless your name is michal jordan or Magic Johnson


 ;D

A million dollars in a GIC will yield around 3% in Canada or $30,000 per year.  In the city I live in you can be comfortable on that, even if not living large.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Mr Nobody on May 13, 2010, 04:16:16 PM
;D

A million dollars in a GIC will yield around 3% in Canada or $30,000 per year.  In the city I live in you can be comfortable on that, even if not living large.
hell yea
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Parker on May 13, 2010, 04:19:27 PM
The reason athletes and artists go broke stems from the fact that they think their talent is an ATM machine that never runs out of cash.

Athletes think they'll never get old. Artists think are always gonna be hot.

While race isn't the main issue, the importance of outward show viz. "bling" that is pre-dominant in African-American culture doesn't help.
There is a book by Tom Burrell called "Brainwashed", it talks about the need for bling...Good Read!
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Vince G, CSN MFT on May 13, 2010, 06:00:10 PM
How do they do it lol ;D

http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Kenny-Anderson-graduates-this-weekend?urn=nba,240794 (http://sports.yahoo.com/nba/blog/ball_dont_lie/post/Kenny-Anderson-graduates-this-weekend?urn=nba,240794)

More proof to all the  Dillusional GetBig Billionaire Boys club who believe the fairy tale that a million bucks and you are LOADED for life ! ::)


The reason he he lost his money is because a judge overturned a pre-nup his ex wife signed in 1995 and not only took over half of his assets but also got 8500 a month in spousal support.  Her license plate reads "HISCASH" so he just had the misfortune of marrying a golddigger and having good lawyer.  She was Tami from MTV's "The Real World:"


But he never filed bankruptcy and he signed a deal with 24 Hour Fitness to create his Basketball Academy at all locations so he's back in the green. 




Title: Re: It happened again! 60$ mill and BROKE!
Post by: Mr Nobody on May 13, 2010, 06:10:03 PM

The reason he he lost his money is because a judge overturned a pre-nup his ex wife signed in 1995 and not only took over half of his assets but also got 8500 a month in spousal support.  Her license plate reads "HISCASH" so he just had the misfortune of marrying a golddigger and having good lawyer.  She was Tami from MTV's "The Real World:"


But he never filed bankruptcy and he signed a deal with 24 Hour Fitness to create his Basketball Academy at all locations so he's back in the green. 





Thanks for explaning this Vince.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: 240 is Back on May 13, 2010, 06:48:00 PM
if I ever won the lottery, I woulndn't tell ANYONE.  not even the wifey  ;D
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Emmortal on May 13, 2010, 07:07:54 PM
You don't get or stay rich by spending your money.  That's the biggest mistake people make when presented a large sum of money out of no where.  A lot of those lotto winners make stupid investments like buying strip malls, 4 houses, giving away tons of cash to relatives and friends.  Most of them just quit their job right off the bat and start spending.

Best thing to do would to just sit on the money for at least 8-12 months, continue working and not make any large purchases.  Find a good financial adviser who will take the money and generate a life style that you can be comfortable with for the rest of your life.  You could easily take 10 million and invest it wisely, keep your spending in check and have a comfortable life for decades to come.  These guys are blowing through 10+ times that in just a few years, it's pretty amazing.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: claymore on May 13, 2010, 07:33:36 PM

if you're smart then you're set for life, if you're black its apparently impossible unless your name is michal jordan or Magic Johnson


You're the man swede, lol
Title: Re: It happened again! 60$ mill and BROKE!
Post by: ThaRealist on May 13, 2010, 08:08:15 PM
I love how people try to make excuses up for the hood rich negros lol....
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 13, 2010, 10:28:03 PM
You don't get or stay rich by spending your money.  That's the biggest mistake people make when presented a large sum of money out of no where.  A lot of those lotto winners make stupid investments like buying strip malls, 4 houses, giving away tons of cash to relatives and friends.  Most of them just quit their job right off the bat and start spending.

Best thing to do would to just sit on the money for at least 8-12 months, continue working and not make any large purchases.  Find a good financial adviser who will take the money and generate a life style that you can be comfortable with for the rest of your life.  You could easily take 10 million and invest it wisely, keep your spending in check and have a comfortable life for decades to come.  These guys are blowing through 10+ times that in just a few years, it's pretty amazing.

that's a bit hard when you brother hires a hitman...or your best friend saves a plot under his house for you.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: leadhead on May 14, 2010, 07:08:56 AM
I could live comfortably off a few million invested correctly where I live. My (middle class) in-laws sold their business while in their early 50s and live a very comfortable lifestyle off several million with the help of a financial advisor. I was brought up in a conservative (upper middle class) household and learned from a early age to save and invest wisely...

Title: Re: It happened again! 60$ mill and BROKE!
Post by: Tre on May 14, 2010, 07:36:37 AM
I could live comfortably off a few million invested correctly where I live. My (middle class) in-laws sold their business while in their early 50s and live a very comfortable lifestyle off several million with the help of a financial advisor. I was brought up in a conservative (upper middle class) household and learned from a early age to save and invest wisely...

My dad's parents - who lived during the Depression - were ultra-conservative...only things they spent money on were real estate - in order to provide low-cost housing to the community - and one vacation per year.  My grandfather did buy each of the grandkids our first cars, though, and they helped a little with college.  When they passed, their two kids and the three grandkids all received a pretty significant amount of cash, and the kids got the land as well.  My cousin immediately pumped a good chunk into a home improvement project and put the rest into his daughters' college funds and my sister applied hers toward her mortgage, which will save her tens of thousands in interest over the next 15 years.  Meanwhile, even though I'm supposed to be the 'smart one', I haven't done anything with mine yet. lol  It's just sitting in CDs, collecting like 1.5% interest.  But because of that cash reserve, the bank is willing to let me get a loan for another house.  

Meanwhile, my mom's mother and step-dad made WAY more money at their jobs than my other grandparents in their lifetime, yet died broke.  It's a complicated story, but my mother and her sister didn't know how to take care of business, so the house their real father had bought for them ended up being taken by their step-dad's family.  Thankfully my mom married into my dad's family. :)  Her sister, however, was not so lucky. She was married to a fool who lived off her until he died. And then some 20 years later, she married another fool, and they recently lost the overpriced show house he'd 'bought for her'  ::) outside of Phoenix. When I met him and he tried to impress me with 'what he had', I knew it was all bullshit and sure enough, 3 years later, foreclosure.  Fortunately, she'd kept her house this time, so they had someplace to go.  Unreal.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: hmontaq on May 14, 2010, 02:38:05 PM

Movie stars and rock stars are in the minority as they don't "retire" nearly as early as athletes and can continue to work and receive revenue.

Both get royalties for the rest of their lives through music sales and radio airplay. DVD sales and TV reruns. And this happens worldwide so its rare they run out because its constant income. If they got a good contract. So many dont...

As its been said its not just black people like so many of "Get Big" like to bring up. Give money to most people and they will spend it no matter how much money it is. Even if its bad investments.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 14, 2010, 03:54:10 PM
Both get royalties for the rest of their lives through music sales and radio airplay. DVD sales and TV reruns. And this happens worldwide so its rare they run out because its constant income. If they got a good contract. So many dont...

As its been said its not just black people like so many of "Get Big" like to bring up. Give money to most people and they will spend it no matter how much money it is. Even if its bad investments.

Residuals are the best.  As you say you continue to make them as long as the show or commercial is playing.  I moved to Hawaii with my only income being my residuals.  A friend of mine back in 1985 or so told me he was bringing in more than $250,000 a year just from residuals.  I have had a few times where I got a call from my old agent telling me they (company) are considering re-airing a commercial.  Man that would have been nice.  Unless you are a permanent cast member or at least having a re-occurring role you can as much or more money doing commercials.  A day player on a series does not make alot of money even with residuals.  You get your daily scale pay which is I have no idea now but it was around $500 for 8 hours so I know it is more now I am sure and then your small residuals depending on the show and if it continues to aire through reruns.  Movies are great cause of the residuals you get from DVD, and other sales.  it gets kind of complicated and I don't know how it works exactly.  You kind of have to trust the tracking company
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 14, 2010, 03:56:40 PM
One more thing that no one realizes and I dpn't know if it relates to this guy who lost his money but all pro ballplayers have a retirement fund.  They can start collecting as early as 40 years old.  The longer they wait to start collecting the more they get.  Now in baseball it used to be you had to play a minimum of five years to be eligible.  That might have changed and I have no idea about football or basketball but they do have them.  I mean OJ is collecting $25,000 a month from his pension
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Devon97 on May 14, 2010, 04:22:42 PM
One more thing that no one realizes and I dpn't know if it relates to this guy who lost his money but all pro ballplayers have a retirement fund.  They can start collecting as early as 40 years old.  The longer they wait to start collecting the more they get.  Now in baseball it used to be you had to play a minimum of five years to be eligible.  That might have changed and I have no idea about football or basketball but they do have them.  I mean OJ is collecting $25,000 a month from his pension

WHo told you this? Did you read this somewhere?
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 14, 2010, 04:24:18 PM
WHo told you this? Did you read this somewhere?

what
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Devon97 on May 14, 2010, 04:26:29 PM
what

The info I quoted from  OJ pension
Title: Re: It happened again! 60$ mill and BROKE!
Post by: noworries on May 14, 2010, 04:29:18 PM
The info I quoted from  OJ pension

That was all over the news.  When he lost that court battle it was said houw they couldn't touch his pension that it was protected against any leins
Title: Re: It happened again! 60$ mill and BROKE!
Post by: hmontaq on May 15, 2010, 04:45:53 AM
Scott Storch... White

Get it. Blow it. Literally...

http://www.miaminewtimes.com/2010-04-22/music/scott-storch-raked-in-hip-hop-millions-and-then-snorted-his-way-to-ruin/
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 15, 2010, 04:54:24 AM
Scott Storch... White

Get it. Blow it. Literally...

http://www.miaminewtimes.com/2010-04-22/music/scott-storch-raked-in-hip-hop-millions-and-then-snorted-his-way-to-ruin/

dumb f##k put all his money up his nose at north american prices.  here some advice to those who become wealthy:  shift a % of your assets to your mom if she legit like this clown's mommy...so when you all f##ked up...you can return to a comfortable home and your old bed room.  why the f##k his mom got 81000$ house n 5700 in card debit?  10M$ and my folks got at least 1.5$ on lockdown for me in case of hard times.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: spinnis on May 15, 2010, 05:08:38 AM
dumb f##k put all his money up his nose at north american prices.  here some advice to those who become wealthy:  shift a % of your assets to your mom if she legit like this clown's mommy...so when you all f##ked up...you can return to a comfortable home and your old bed room.  why the f##k his mom got 81000$ house n 5700 in card debit?  10M$ and my folks got at least 1.5$ on lockdown for me in case of hard times.

Makes me pissed.

BUT remember this Only his mom's side of the story. There might be alot more to it then thi,s he might have hated her above all other things for something she has done which ofc she wont reveal.

For him not to take care of her, someone has to have went horrible wrong in his youth, there is more to the story Im sure :)

If not then I hope he dies of cancer.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Quickerblade on May 15, 2010, 05:10:34 AM

He bought diamonds for paris hilton, kim kardashian and londsay lohan, what are fucken loser.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: Devon97 on May 15, 2010, 05:15:54 AM
Scott Storch... White

Get it. Blow it. Literally...

http://www.miaminewtimes.com/2010-04-22/music/scott-storch-raked-in-hip-hop-millions-and-then-snorted-his-way-to-ruin/

"At age 33, in 2006, his fee hit six figures per beat, which he could produce in 15 minutes. "

Now thats what I call making good money!
Title: Re: It happened again! 60$ mill and BROKE!
Post by: TrueGrit on May 15, 2010, 05:16:17 AM
I spent a lot of money on booze, birds and fast cars. The rest I just squandered.
George Best
Title: Re: It happened again! 60$ mill and BROKE!
Post by: The Abdominal Snoman on May 15, 2010, 08:47:54 AM
i'm taking bets kevin garrett wont end up on fuckedcompanymymoneyup .com - Lubricant of Rich Athletes.  he dont like to tip the pizza driver and teams say he wont pick up the check for anything.  

That might be true but Scottie Pippen was known to never tip and was very cheap and its been reported that he is nearly broke. So I think its a crap shoot with many of these guys.
Title: Re: It happened again! 60$ mill and BROKE!
Post by: G_Thang on May 15, 2010, 08:51:50 AM
That might be true but Scottie Pippen was known to never tip and was very cheap and its been reported that he is nearly broke. So I think its a crap shoot was many of these guys.

ok...i didnt know that but pippen did a mc hammer move.  that gulfstream had to be a large % of his career earnings.  mc hammer earned 33M$ and spent 20$M on a house he was stilling paying for when it was liquidated.  :o