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Joined: 11/25/2003 Posts: 22914
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If they are smart enough to pass a college course, they should be smart

enough not to piss all their money away but unfortunately, many of them are too stupid to manage money. I have zero experience as a financial advisor but I am going to give it a shot.

1. Don't have a entourage
2. Don't buy expensive cars
3. Don't buy expensive houses
4. Don't buy expensive boats
5. Don't buy expensive clothing
6. Pretend you "only" have an income of $100,000 and live off of that and put everything else in CDs. Don't invest in stocks, bonds, real estate, restaurants, bars, etc. Your financial goal is to avoid losing all of your money. Also, don't take any financial advice from your peers. Most of them are clueless about managing money.
8. Learn how to manage your money for a couple of years and then evaluate your financials position. When you get a couple of million in the bank, increase your annual income, rebalance your portfolio across conservative stocks, bonds and interest bearing accounts and consider buying a home that you can well afford.

It is unreal how many pro athletes border on extremely stupid, reckless, irresponsible, etc. when it comes to something as simple as not losing all your money. JMO

[Post edited by LTHoo at 05/10/2021 5:21PM]

(In response to this post by hooman#1)

Posted: 05/10/2021 at 5:20PM


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Current Thread:
Snowden and Poljan contract breakdowns -- GtownHoo 05/10/2021 11:08AM
  Hey the opportunity for them is there ** -- Wahoos79 05/11/2021 10:57AM
  It's just the minimum NFL salary by season -- GtownHoo 05/10/2021 3:21PM
  Poljan's chances dont look very good -- hooman#1 05/10/2021 1:24PM
  Pretty standard UFA contracts ** -- Ahmad  05/10/2021 12:48PM
  When you say set -- Ahmad  05/10/2021 12:50PM
  "Set" is such a subjective term -- JKHooing 05/10/2021 3:33PM
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  Even with a good size 2nd deal -- Ahmad  05/10/2021 1:08PM
  Or better yet a trade ** -- Ahmad  05/10/2021 8:35PM
  Is that you Mike Rowe? -- The Hook 05/10/2021 9:04PM
  And your point is still flawed -- Ahmad  05/10/2021 1:27PM
  Sorry worded that wrong -- hooman#1 05/10/2021 10:07PM
  NFL Min -- Ahmad  05/10/2021 1:37PM
  Very true ** -- Ahmad  05/11/2021 11:30AM
  Yes stable is exactly -- Ahmad  05/10/2021 8:35PM
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