Quote from: Fredomago on Today at 10:54:16 AM

Quote from: ultrloa on August 08, 2025, 10:55:52 AM

Its so bad to experience those things and its great for new generation of ballers that they have something to look at if they mishandle their finances.

That's why proper financial planning towards their future is important since even if they are earning huge money from the contract they get from NBA there's still a huge chance that they got broke especially if their spending's exceed to their career earnings.

Its hard to return back on high status if they already experience hardship in life. Since no teams would give them a huge contract especially if they have lots of issues or old enough to play competitive basketball.

Yeah, once they missed out the fortune it's difficult to re-earned the trust especially if their performances or their attitudes affects their relationship with the team who hired them and gave them opportunity to play, they need to be well-prepared in terms of financial as there's no permanent contract since there are many competitions with old and new stars can takeaway their position and they can quickly be replaced.

Quote from: cryptomaniac_xxx on August 08, 2025, 11:15:06 AM

Quote from: Fredomago on August 08, 2025, 10:08:55 AM

Quote from: TravelMug on August 08, 2025, 08:11:53 AM

Gambling as well could be one factor. I remember one player, when his friends and entourage going to Las Vegas and play and gamble and have fun all night long. So that is the dangers for this young black players, very young and with a lot of money at their disposal. And then the lack of knowledge of how to handle that money. I think Antoine Walker becoming a spokesman to new players because he is one of those who fell victim on it. Hopefully Beasley can get up from his predicament right now and can bounce back and have a better life. 60% is a huge numbers for NBA players going bankrupt after their career is over. The NBA might have responsibility as well to remind players when they are coming into the league and let them know the consequences of their actions in the future if they didn't take care of their money.

Yup, most of those who mishandled their fortune ends up messing up their lives, though nowadays there are many available investment that players can choose to take care of thier money, they just need to think more about their future and just spend what's already spare, with huge contracts that they are recieving it's their obligation to themselves to set their future and not to live like there's no end of this fortune knowing that with a single mistake or an injury can completely ruined their careers.

It's good that new players are learning from the mistakes of players before them. I don't know those players who wasted their money, perhaps there was no mentor on their side to be their financial adviser that's why many players fall for it and now they don't have any money.

Even the great Mike Tyson was a victim when everyone around him even his manager Don King transpire to get all his money. Good thing is that he was able to recover from it and now living a good life. But for some NBA players, there are no getting back as once their career is over, money is not going to come it plenty and easy.

That's the good thing now, there are many financial adviser who can lead them to choose the right way and right investment to take, they just need to pick who's going to trust about their fortune, and same with what you say even Iron Mike experienced that hardship in life after being so famous and got a huge amount of money.

Mostly those friends who encourage them into gambling disappears when things got tough, its really important to find friends who will not just take advantage, for their own benefit, but find friends who always give you advice to save, its really hard to find, if they can't find one, then they should help themselves, or have a financial adviser like everybody suggest, they have to think of the future instead of short happiness.