Plaxico Burress may now lose his home too

[stlrz d]

Re: Plaxico Burress may now lose his home too

This might sound over-simplified...but why don't these guys go to folks in their profession who have been successful managing their money and ask them for advice?

Seems pretty logical to me. If I get a crap load of money I'm going to talk to someone else who has money to find out how they manage it, who they work with to maintain it, etc.

It's not rocket science. To find success look to success.

[NJ-STEELER]

Re: Plaxico Burress may now lose his home too

there was an SI article a while back on how some of these players wind up with no money.

a lot of it is fromm what was already mentioned. they added failed business ideas as another big reason, friends/entrepenuers come to these guys to invest a few hundred grand in a business and such.

IIRC it was antoine walker who they used as a main example. the guy had made $120M throughout his NBA career and was filing for personal bankrupcy

[hawaiiansteel]

Re: Plaxico Burress may now lose his home too

there was an SI article a while back on how some of these players wind up with no money.

a lot of it is fromm what was already mentioned. they added failed business ideas as another big reason, friends/entrepenuers come to these guys to invest a few hundred grand in a business and such.

IIRC it was antoine walker who they used as a main example. the guy had made $120M throughout his NBA career and was filing for personal bankrupcy

somehow, some way i would have figured out how to fit my standard of living into $120 million...seriously!

[MaxAMillion]

Re: Plaxico Burress may now lose his home too

Professional athletes are much like lottery winners. A lot of them go from nothing to more money than what most will see in a lifetime. Just like lottery winners, athletes often times blow the money they receive. They don't learn how to tell people no. They don't learn how to effectively manage their money.

Most important of all, lottery winners and athletes alike, never seem to understand that those big dollars are going to stop at some point. The money has to last a lifetime. You really need to watch your spending habits and look to save and invest rather than buy flashy cars and homes.

I have read articles about lottery winners who wish they never won the money. I am no longer surprised to hear about athletes who struggle to manage their money.

[RuthlessBurgher]

Re: Plaxico Burress may now lose his home too

Professional athletes are much like lottery winners. A lot of them go from nothing to more money than what most will see in a lifetime. Just like lottery winners, athletes often times blow the money they receive. They don't learn how to tell people no. They don't learn how to effectively manage their money.

Most important of all, lottery winners and athletes alike, never seem to understand that those big dollars are going to stop at some point. The money has to last a lifetime. You really need to watch your spending habits and look to save and invest rather than buy flashy cars and homes.

I have read articles about lottery winners who wish they never won the money. I am no longer surprised to hear about athletes who struggle to manage their money.

Says the man named Max-A-Million.