Terrell Owens is almost broke

eurotrash

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Oct 17, 2008
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I'm shocked that he's gone through $80 million so quickly. He seemed like the type who avoided self-destructive behavior, embraced personal responsibility, practiced self-discipline, delayed gratification, refused to act impulsively..... It mus be overs what done it to 'im (dumb Brits, chavs, talk this way). I guess just about anyone can go broke (except Ryan Leaf--he's still rich).

http://www.thepostgame.co...apologize-donovan-mcnabb
 

eurotrash

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Oct 17, 2008
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I'm shocked that he's gone through $80 million so quickly. He seemed like the type who avoided self-destructive behavior, embraced personal responsibility, practiced self-discipline, delayed gratification, refused to act impulsively..... It mus be overs what done it to 'im (dumb Brits, chavs, talk this way). I guess just about anyone can go broke (except Ryan Leaf--he's still rich).

http://www.thepostgame.co...apologize-donovan-mcnabb
 

RebelBruiser

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Aug 21, 2007
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but it's surprising how common this is. Lorenzen Wright was shot and killed in Memphis about a year and a half ago, and his family could only afford to put up a few hundred dollars for reward to anyone that could provide information on the killer/killers.

The guy had played in the NBA I think for 14 seasons, and he made good money, yet only a year after his playing career was over, there was no money left.

That's what happens when players choose to spend what they have instead of having someone put it away for them. Most of them don't quite understand that you're lucky if you get to play into your mid-30s, and you are likely to live another 40-50 years after that.

Penny Hardaway, meanwhile, had a similar length career, though he was injured for a lot of it, and his value went down after being a star early in his career. Still, he's taken good care of his money, and he's still living the high life years after retirement from the league. Basically he plays pick up basketball and golfs among other activities, but he's not holding down a job to make ends meet.
 

MSUArrowCS

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Dec 19, 2006
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but apparently he didn't go to prison for all of that. He lost the coaching gig (one of the charges was that he asked a player for a pain pill), and is on 10 years probation.

I'm not quite a fan of the guy, but he has one heck of a story. Here's a more up-to-date article, says he's still doing alright financially, for whatever that's worth:
http://seattletimes.nwsou...904_apfbofallenleaf.html

I think it's pretty ironic, though given his legendary status as a bust vs. multiple stories of all stars that aren't prepared for life without their pro salaries - as if they didn't see it coming at some point.
 

Incognegro

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Nov 30, 2008
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T.O. isn't known to be one to recklessly spend his money on self-indulgence or lavish living. Even though he has a bad knack of blaming everyone but himself, it seems like there was a large portion of money mismanagement and trusting the wrong people. From that respect, he seems like he was taken advantage of.
 

GloryDawg

Heisman
Mar 3, 2005
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Two different things. Owen's only knows one way to make money and that train is 2/3 out of the Station. Trump knows how to make money many ways and he is smart enough not to use his own money. So when one business goes broke he's not broke.
 

BulldogBasher

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Dec 2, 2011
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Every young athlete should watch the ESPN 30 for 30 movie, "The Best that Never Was." There's always a friend or an "uncle" lurking in the shadows. You'd think they'd have realized by now, that when you show any kind of athletic promise (i.e., ability to potentially make money) you suddenly have more friends! Aren't sports great?
 

dawgstudent

Heisman
Apr 15, 2003
39,473
18,963
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Just put away 10 million. Once you retire, live off the interest if you can adjust your lifestyle. A modest 3% return yields 300K/year.
 

DerHntr

All-Conference
Sep 18, 2007
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You are required to take a nutrition class. I would argue that personal finance is almost as equally important. Granted a lot of required core courses in time become a b.s. joke that students don't take seriously. It would not have to be overly hard but it would at a minimum give all students the opportunity to better understand why they don't need to pay the damn minimum on their new credit cards that they got with a free t-shirt on their first day of school.
 

fishwater99

Freshman
Jun 4, 2007
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dawgstudent said:
Just put away 10 million. Once you retire, live off the interest if you can adjust your lifestyle. A modest 3% return yields 300K/year.
But they can't adjust their lifestyle and always seem to have too many "friends" around they are supporting...
 

Optimus Prime 4

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May 1, 2006
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... blow the rest on private islands, boats, planes, etc. and not care.

I would have no problems telling my "friends" to go F themselves. Immediate family could mooch, beyond that, too bad. The number of my diamond encrusted cell phone shall be unlisted. I would also start my own country.

 
Nov 5, 2010
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They think some uncle or family friend is smart enough to be trusted with their money. Why? Are they already rich from properly managing their own money? Doubtful. Unfortunately these kids often think that because someone is good with a calculator or can sell a used car for $1k profit that makes the person financially savvy. Or maybe the trusted advisor completed two years at a community college...****
 

eurotrash

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Oct 17, 2008
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although I recall reading about a statistics prof in Texas who used algorithms to win millions on scratch-off tickets. It's ironic because most people with a basic knowledge of stats (should be a college requirement) don't waste money on the scratch off redneck retirement plan. But Ms. Big Brain knew when to go all in and purchased bundles of them from certain stores.