Quote:
Originally Posted by jimmy-3-way
A. You are talking about a guy who probably didn't even have a checking account when he made his first mil.
B. Subtract 10-20-30% for agents and lawyers.
C. Subtract 35% for taxes.
The fact is, the reason these guys can do what they do is because they don't waste a single damn braincell on thinking about investing their money. All they think about is moving the ball down field.
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Yep. There was a big article in sports illustrated about pro athletes going broke. In it the story talks about how these guys are typical businessmen who work 20 years to get their wealth so they learn how to grow and care for it. For them it literally is like winning the lottery. One day they have nothing the next they have millions. There were a ton of stories about how they invest in stupid things. They invest in clothing lines, record labels and restaurants all of which are businesses that almost always fail.
They should be investing in safe, non-sexy things but that doesn't appear to 22 year old guys.