In other news, child support is friggin' ridiculous. Nobody needs 11k a month to support a child. Nobody even needs 11k a month to support a child and themself. Tell me what child requires 132 grand a year to support? They should change the name of it to "Ex-Spouse Spending Habit With a Little Change on the Side for the Child" Support. But I agree with everyone else that professional athletes should manage their money much better. How hard is it to sock away 100 grand and go back to school to finish your degree (that you're supposed to be working at achieving pre-NFL)? I know most of these guys aren't smart, but I mean, they have to pass the majority of their classes in college, right? And I'm not being naive, by saying that they ACTUALLY pass the classes. I'm saying use the classes that you have credit for to build a foundation to an actual degree.
Don't the vast majority of the players have legitimate agents? Shouldn't they be offering counsel? All in all it's a small minority of players who have these sorts of issues. If I were an NFL player, I'd hate to have the NFLPA take 10-30% of my salary because of the few idiots out there.
Well from what Ive learned, Child support doesnt just means supporting the child with food and clothes...Its providing a roof(which 9/10 times is what the mother should already have) and transportation(again 9/10 times....)... The court system knows that most mothers who recieve child support generally dont use it primarily for the childs immediate needs...They use it to support themselves to the finest of material things... But I can understand if its an millionaire having to pay 100k annually.... That child deserves to live comfortably ....Unfortunately, so does the baby mama (until the kid turns 18, then its back to the "hood" for ya b****!!!!)
It may (or may not) be unpopular - but I find that child and spousal support laws need to be overhauled in the worst way. Completely archaic and out of sync with the realities of modern society. There needs to be caps and sliding rules based on income (both sides). Child support shouldn't go straight to the other parent, it honestly should go into a trust with a court appointed executor, even if it's a family practice social worker.
Maybe some of these players should be smart enough to wrap that rascal instead of being trapped by females looking for an 18 year free run. DD
And if you don't share needles or have unprotected sex, you're probably not going to end up with AIDS. That doesn't mean we should stop looking for a cure. I don't think it's unreasonable to suggest that child and spousal support laws could use some work.
Smart enough? I'm sure no woman has ever ever taken advantage or done something 'smart' to you.. some guys are especially naive with a hot piece of tail. it happens. You obviously haven't been to The Mansion. $1.25 coronas sure.. but that lifetime supply of valtrex at $10 copay can add up!! I see DNA tests, and tattoos written in olde english font in your (your 'smart' sons) future...
Educate me please. Are you saying a majority of NFL players go broke after their football careers are over? EDIT: To be clear, I am talking about the guys who actually make money in the NFL, not the guys whose careers are over in a year or two.
I think he is right that a fair amount of players declare bankruptcy or have major financial problems a few years out. There are the marquee players that are less likely to become poor but it happens to them as well. why do you think rolling stones, and some of the bands keeping touring over and over? they have a lifestyle that causes them to spend a lot, since they get used to it.. then if the income is no longer coming in, then we are talking about a fixed number that is being bled and bled. Also bear in mind lots of these guys are making in the 500k to 1 million area ,and the average is about 4 years in the NFL I believe. So their total career earnings may only be something like 2 million. When you are a rookie ,and buying dinner for the whole team, or buy a house for your grandma ,and family, you can roll through a million in no time. That leaves you will a million that is supposed to last you until you die? One break up here, and one depreciated lambo there, and before you know it you are paying child support at 8k a month with a piece of sh&t exotic car that costs 15k for a brake job. After that these guys always want to invest in the tangible things that depreciate, so their mind doesn't wrap itself around slow growth investments, and they tend to throw their money at high capital tangible businesses... sure some of those businesses go well ,but again no investing in abstract things like bonds or CDs... It has to be shiny and I want to be able to see it bling.
Have you seen what a cigarette boat payment looks like? why do you think iverson ,starbury go play international?
Its probably like any other walk of life. Plenty of people in all income levels mismanage funds. Some people just don't understand how to save.
The rogue ones have no problem keeping their mouth shut whilst the player does all that and they(the FA) can invest the players money in whatever investment scheme they deem lucrative. Some agents are able to steer their clients to good FA's and some realize when it's too late that the FA was a crook. It happens, unfortunately. A fair amount of blame goes on the player and goes on the agent but let's not just say he should have had a financial advisor w/out knowing what part his advisor had to play in this.
I don't know. On one hand I agree but the other I think if you're going to be living the high life, then your kid should have the same benefits you do. Maybe a solution would be to closely audit/monitor how the funds are spent as suggested.
BTW - it is not just athletes, I have a good friend who experienced a lot of the same issues with women and money. Predatory females and males are all over the world, people smell money, they attack....with whatever means they have in their arsenal.....and p***y is a powerful means...... Male pills....just take those and cut those femanazi b****es out. DD