Why NBA Players Go Broke
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- Опубликовано: 1 окт 2024
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Trevor Ariza recently found himself in the news after a court filing indicates he may struggle to make payments to his ex-wife.
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More of this please 🙏🙏🙏
Well 117 mil, is b4 taxes, you should do these based on their net not gross.
You should know he could be pulling a 50 cent 🤷🏿♂️😂 just because your reading a paper you don’t know what him an his lawyers are trying to pull . Maybe there trying to look cheap an poor idk but you gotta stop acting like you know what these players do with THEIR money bruh ahah I’m not hating or mad .
You move as if you chose a side that he’s broke ahah ( broke for a millionaire) I think players gotten better with political game these woman play an contracts / teams owners
Spencer made me laugh when he said: "Pro athletes, please stop having babies by multiple women!"
Just look at Antonio cromartie dude has 10 kids so far give it another 5 years he’ll be broke
So on point
@@chrisjacobs9101 No Way!!!
They want to be absolved from consequences. They‘ve been coddled too much to be allowed into adulthood. 😂
Many are like stray dogs roaming the streets.
As a single guy its crazy for me to think someone can live like royalty and not work since '08 lol
INSANE
The females reality
Same!
Power of vag
@@jimbobfisher8904 Bro shut the fuck up ya goofball lol. You had chicken nuggets for lunch.
$9000 for food is insane- even when i was competing at national level for swimming I barely broke above $1k during peak training phases
NBA players average IQ is less then
I´m guess there is a private chef somewhere in that figure.
@@gertexan what Kind of Chef is that :D
@@bub3080 the type she tells you not to worry about :D
My monthly grocery budget has never been above $250 and even I struggle to spend this much. IDK how people ca possibly spend thousands of dollars a month on food unless you're eating out literally everyday..
I used to feel sorry for many of these athletes. I don't feel much sympathy anymore as most Americans are struggling paycheck to paycheck.
Most people in a job are only 2-3 paychecks away from being broke.
Sad but true.
You shouldn’t, they just make the dumbest decisions lol.
Isn‘t there a whole tv show with The Rock about wealth management for pro athletes?
It’s situational no ? I feel like a lot of pro athletes get swindled at 15-18 and also have to take way too much on compared to alot of us at that age
I feel sorry for the ones that really get cheated like having accountants still but when you spend like ariza and waste money like him I laugh
If you've made 117 million, 2 Rolls Royces is not what makes you go broke. Its a whole rack of financial malfeasance that gets you there.
Yes, he could theoretically have purchased $500m in property ($50m after tax with 10% down) and enjoy $10m a year passive income (2% return after tax/mortgage payments) that grows with inflation. He could have easily afforded repayments on 10 Rolls Royces.
@@DysfunctionNoMore Good knowledge!
@@DysfunctionNoMore you know these guys dont think about passive income 😂
$117m would be really like $50m after taxes and agent fees. So Trevor really blew $50m not $117m.
@@Syhbw that's if he was paying taxes correctly which many rich people don't do, and still blowing 50 million dollars is mind blowing !
$55k a month of expenses? That's around the national median income.
I never knew diapers and Cheerios were that expensive. These videos continue to to teach me to use condoms and avoid marriage
yeah... most of us could live 3-4 years off of his monthly income of $192,000 ( or what his monthly income used to be ) hahaha
Only for a household income, not individually
@@Boss3Nate He makes in one month what it takes me 2 yrs to earn 😭
@@NAT-turners-Revenge it’s unreal bro 😭
It’s crazy how minuscule financial intelligence athletes have. Makes you appreciate guys like Shaq and LeBron even more
Jordan is no slouch either.
Shaq is definitely an MVP of financial intelligence and prep for life after basketball.
It's not just high-income athletes, most people have zero financial education.
Remember the subject of money and money management is not taught in school and in most homes globally.
The great book Rich Dad, Poor Dad changed everything for me.
Your opinions on money, debt, taxes, assets, and liabilities will be changed forever after u read or listen to this book.
You will fully understand how the rich get richer. Also, how they use debt and taxes to get richer.
Life-changing information in that great book.
LeBron and Shaq did what its called a Fast Track and now their above 30th degree freemasons. That's why they own many things and have budgets like Bill gates
@@videohut4445 "Secrets of the Millionaire Mind" and "Millionaire Fast lane" are great too.
Lifestyle inflation
And just being a ignorant baboon 😂 they're not college graduates they're basket ball players 😂😂😂
The government is incentivizing single motherhood. The West is a shit place to live in.
funny how she files for divorce within 3 months after trevor retired. gotta cash out at the end before the well dries up
Yup leave you at your highest to take All your 💰💰💰
Professional athletes have to know that's how the game is played.
Exactly? Smfh.
She didn't waste any time after he was done playing. Sad how these guys get played.
fuck gold diggers man
Women divorce nba players within two years after retirement
typical western women
Well he used the money to attract her and then abruptly runs out of it , what do you expect , if you stopped working your girl would leave you too
@@patrickhouse9005she herself didnt work.
We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some R25VRs Thanks for keeping us informed during this times of doubt?
Jason Tatum has the perfect plan to stay rich. He only spends his endorsement money and doesn’t touch his NBA money. He can probably make around 600 million by the time he retires. The interest alone off that is more than enough to live off. His mom is his manager so he doesn’t have to worry about getting robbed. I thought that was a pretty smart idea.
Parents can still rob you blind. Google: "Jack Johnson parents"
Yea perfect plan .. except not all nba players get endorsement deals lol
Tatum isn't the first to do this I could name many athletes that has done this. Peyton, Eli, jj watt,Chad Johnson, Tim Duncan, jamal mashburn etc..etc..it's a perfect idea if you are blessed with endorsements.
@@deemurray5711 yea true but a lot of them can make outside of the NBA doing different things.
@@alldaynupe2310 oh ok so he probably heard another athlete doing this and just followed him. Can’t blame him, when he retires that account is going to look insane lol. $725,890,013.15
He ain't broke he just trying to cut down on that child support
Ariza's championship was actually against the Magic in 2009, he was not a member of the team in 2010 that defeated the celtics.
I was gonna say. Artest filled in his spot for 09-10 season when they defeated the celtics.
Who gives a sh!t? That’s the takeaway from this video? This isn’t about winning championships or playing basketball. This is about life and having money to live
Yep...remember that 09 run like yesterday
She spends 4K on clothes and 1.5K on education.. make it make sense
Gucci, Louie, Fendi 😂
And saves $500 per month
When materialism is your only occupation.
I'll never understand why athletes have a mortgage 🤯
It would be smart to rent. Might get traded and gotta move.
could buy and rent/sell once traded. not a mansion but a big enough house
Because their net worth is so high that banks will give them special low interest rates and they can invest the money they would have spent elsewhere with a return higher than the interest payments on the house.
When the deal is structured right a mortgage is a good move
mortgages actually aren't that bad. if you leverage your position right a mortgage can be "good debt" if you were to rent out your property. sadly most athletes just for some reason keep their houses collecting dust-
Here's an idea: How about the person who is the most financially stable get custody of the kids?
the system is rigged against men, luckily modern feminism is waking people up to the BS
LMAOO
Sounds good but that person is most likely going to have to work long hours and not be able to watch offspring
That’s too logical. The system is against man.
@@BreeonaNecholeWhat’s so funny?
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on R25VRs is and a 15x on polygon are fair considering how much those two coins are interwoven into the entire crypto ecosystem
I eat out 2-3x a day 7 days a week, I eat ALOT, $20 min every time, and I still could never touch $9000 a month in food wtf
@@Road2Serfdom havent been to McDonald’s in years but project more bud
one steak for me at my fav spot is 60 dollars plus..where are you eating? level up
@@Road2Serfdom i said minimum $20? That means it only goes up from $20, are you hard on reading or just stupid?
@@BadTV1993 okay and? Do you feel cool? I’ve spent $500+ on a steak before, what’s it matter?
@@Road2Serfdom right.. an Oscar’ed tomahawk is easily 200 dollars… multiply that by 3 or 4 of your friends/buddies and 4 nights a week minimum ….plus tip…
It’s crazy this is still happening with athletes. they have literal classes in the nba now for rookies that shows them exactly what to do with their money. the fact ppl can have so much money and not see the value of immediately investing.
Classes mean nothing. Knowledge and discipline are two different things. My mother didn't have financial knowledge when she first came to this country, but she was disciplined enough to save half her income and only live on half of what she made.
@@TomikaKelly they obviously mean something since this isn’t nearly as common as it used to be. but sure. discipline is what’s most important when it comes to keeping money.
Athletes been sleeping through class since the dawn of time
His monthly bills are pure gold ... comedy gold. What kind of people must be around him to end up with such monthly expenses. Well done everyone. Great team/friends/family. Even in a mental institution the patients would call him crazy and/or stupid beyond the chance of ever getting sane.
You can have a god-tier financial team, but ultimately, it’s HIS money. His spending is on him.
Right. I’m in no position to talk since I’ve never had any money but you can only do so much as a family or friend.
Every basketball athlete contract should have a warning in the first page: "About two thirds of basketball players go broke after they retire. Manage your money wisely!"
Lack of financial education and not understanding the difference between assets and liabilities is the key reason most people go broke.
The same thing happens to people who win multi-millions on the lottery.
Within 3 years most of them are broke and filing for bankruptcy.
Remember, rich, poor, and middle-class people can end up broke.
Overspending is also another reason why these people end up broke. Divorce and bad investments are not going to take all your money.
These guys are spending most of their money on the wrong things. They are consistently buying liabilities that take money from their pockets.
Instead of buying assets that put money into your pocket. It is that straightforward.
Rich people with a financial IQ will understand why things went wrong.
And they will have the financial IQ to make up for those losses and be profitable.
You can’t tell someone to do something they weren’t taught. Most people know how to make it and not manage it. It’s a reason the credit card debt is the highest it’s ever been in history. Most people aren’t good with money
They all know that but "thats a long time from now"
Courts need to literally put a foot down on this crap now that ridiculous idc how much money the man makes 9k on food is insane 55k a month is literally idiotic you have women complaining about the patriarchy but you will never hear a woman say this should be illegal to lie this much on a child support payment
bingo. luckily this modern feminism is waking a lot of people up to the BS
Why you playa h8tein? Plenty of athletes are married without issue. Plenty of athletes wives work outside the home/,careers. This only highlights one average NBA players lifestyle powered by the women in his life. He isn't at fault if you understood how the Black Community works.
@@dj4monieword lmao, your pfp matches up so much with your comment 😂
@@dj4monie To be fair, American athletes and especially NBA athletes, tend to have wild personal lives.
@@blackshadow7192 Same with child stars. Too much money. Too many enablers and opportunists. Too young to have the wisdom to deal with it all.
Why should I feel sorry for someone who earned about $60 mil hard cash over his playing career?
Because they think they're bigger than life with all the women and at the end of the day, they just wanted him for his money. It quite sad when you think about it.
believe me nobody clicked on this video to feel sorry 😊
Zion Williamson is 22 an he's doing the same thing
I don’t understand how athletes are still going broke. It is easy to get financial education now a days.
But you have to want/actively pursue a financial education.
Impulse control.
The first stupid thing a professional athlete does is get married. There's no reason for it as it's an antiquated custom and puts all your hard work at risk to gold diggers. If you do, make sure you have an iron clad prenup. If she won't sign it, leave it at the curb.
Marrying an uneducated unemployed chick never made sense to me.
117 mill minus taxes (fed, state, local), agent(s), and manager. turns out to be just a little less than 117 mill. You keep saying 117 mill as if that is was his take home. After working for the fed gov and the sky high cali taxes, what he actually had out of that magical 117 mill you drone on about was probability about 55 mil.
Lol
What is your point. 55 million is money 99.99% of people on earth even surgeons, CEOs of big companies never make before death. Are you giving him a pass for blowing through 55 million like you claim after taxes because 55 million to you is not a lot of money.
He needs to go play in China to get by
He probably will play in Turkey or something. They pay good and way less taxes.
As the old and very true saying goes…
A fool and their money are easily parted.
I'm amazed at how much of this information was publicly available to you
Court documents are public records..... what do u mean
title should be changed to nba players should not marry and have kids 😂
How have these athletes not learned by now. The internet is busting at the seams with cautionary tales.
Because it's not about what you make, it's about what you save.
They try and live like the owners
And got to be flexing everyday and posting on SM. His kids are going to act just like dad.
For at least the last decade, they have brought in the most qualified financial experts to teach rookies about money management at the group and individual levels until they can hire a wealth manager. Obviously, the wealth managers that are the strictest and more tightly manage an athlete's money are sometimes not the most popular in the beginning. By age 30,you owe this man for literally saving your life.
Couple of takeaways on this video.
1-athletes don’t seem to have any game and rely on their fame and lifestyle to get women. Probably most of them didn’t get lots of girls when they were broke.
2-marrying the wrong woman can cost you big time and you have to bet her over a year +
3-his managers don’t see his best interest and he becomes an impulsive buyer who spends ridiculous amount of money on liabilities that leads him with more trouble than good.
4-his 11+ business don’t seem to have good management either.
5-these players seem to go with the flow of their peers, mainstream media and maybe girls to influence their decisions, like where are his advisors goddamit
Athletes get girls very easily. They also seem to choose very poorly. Get a girl with education and a good job. She will then more likely be financially prudent.
@@RaphaelDawkinsCombatRadio a financial savy girl is way worse, she would swindle efficiently lmao
The best business decision a wealthy person can make is avoid marriage altogether.
He's not broke, he's trying to hide his assets, so he doesn't have to pay high child support payments. With legal bills like that, clearly they know what they are doing.
Right he could during his w2 ways.. He is technically correct- he doesn't work anymore... child support to $0.00.
Let this be a point of gratitude, a lot of us should be THANKFUL we didn't hit wealth at a young and philosophically immature age... when all our worst habits could flourish and when our character flaws could be exploited (i.e by women using your seed as a free meal ticket).
Maybe you're older and still striving to have the success you sought when you were younger. While it may not come quickly, when it does come, at least the years have given you the wisdom necessary to protect and responsibly carry the blessings coming your way (if not totally protect, then at the very least be a better protector now than you would've been).
The Gospel: Jesus Christ dies on the cross for your sins died and rose on the 3rd day, If you believe this you shall be saved. Amen
Amen
It’s crazy how quick you can make money but it’s even crazier how fast you can spend it.
Could you do more vids on NBA plahers financials? Like how would you advise say Luka to invest his earnings.
Makes me think about Steve Young who was apparently approached by the 49ers accounting department asking him why he hadn’t deposited his paycheques.
He was stacking them in his sock drawer🙉😂
They then gave him investment advice.
It was the Orlando Magic that the Lakers won against in 2009.
He doesn't follow baseball.
2009-2010 it was the Celtics
2008-2009 was the magic
Watch the 30 For 30 about this topic. There’s a lot of reason why they go broke. Their families demand money. They get peer pressured into spending by their coworkers. They don’t listen to their financial advisors.
Your next video should be - How do RUclipsrs with 500k subscribers go broke and need to start GoFundMe
Who went broke and started a go fund me?
@@lawnside82 he’s referring to Spencer because he’s been in an active lawsuit for 2 years with Derek Moneyberg which led to Spencer starting a GoFundMe
That's easy. Just get sued by someone that knows how to use a lawsuit as a punishment.
my next video is talking about all of my income/expenses and why I started the GoFundMe.
my income was never even a fraction of what NBA guys get. if it was, this lawsuit would be an irrelevant footnote.
@@SpencerCornelia Do you not have an insurance to cover the cost of lawsuits?
Do more of these bro, they’re interesting n helpful
You should be a financial adviser spencer.
One of the things I never thought about till I was “rich” is a house manager. There is always so much to do at the house that we have a full time guy taking care of it. And he’s not even doing most of it… he’s coordinating with vendors for the most part.
The truth is athletes are regular people that excel at one thing. And that thing, is usually not finances. If you and me were in their same position we'd probably make the same mistakes.
Not me.
But a copy of Rich Dad, Poor Dad.
yeahhh ive been working 50+ hrs a week for so long and multiple jobs, if someone gave me a million dollars i would never need to work again
Probably not. Been working and saving since I was 12.
I have a list of things I would do but nothing that would increase my monthly bills.
I know I would. When I made my first 15k I thought I was rich forever, let alone millions lol
You meant to say the truth is 95% of athletes had two options sport or prison.
These leagues need to put something in the contracts where you only get 1 million a year for the first 4 and all the rest goes to a investment account backed by the league with payouts at 30-40-50-60... basically guaranteeing no former players can actually go broke... save them from themselves..
or they should just a real job when they cant play the game that we do for fun in the little free time we have :-)
Pro athletes should never get married or have a girlfriend until after they retire.
Derek Jeter route
2:07
I like how she has the gall to list $100 for “charitable contributions” while listing $5000 for “entertainment, gifts, vacation”
Trevor is living slightly better than you and I Spencer
They go broke to there prior standards, but never fully go broke. My neighbors son played for the NFL and was vested, well he got hurt and they pay him 5-6K/month for the rest of his life.
Not bad
But what is his spending habits? If you making $5-6k a month but spending all that or in debt than you probably will be in a bad situation
@anthonymiller8107 Definitely, I think most people realize it when they're broke and in dept like MC Hammer. However, 5-6 is quaranteed, you can still work and bring in more income.
Vested?
@@kenneyp.9456 After a certain amount of years, you get a pension from the NFL
They need to get financial counseling from the ACE family
18 years in the league. No reason to go anywhere near broke
You know he stupid when he at the end of his career and still have multiple cars
I think Trevor Ariza would be just fine workout out at equinox lmao
This leaves me shaking my head seriously!
Should I be glad I'm single and or not a former ball player?
ALWAYS protect your money from women… its just the cold hard truth most people cannot accept
career first and no kids, women last
SHE WAS WORKING IN THE BEDROOM & SHOPING LOOKING AFTER THE KIDS
We adjust our lifestyle to fit our budget, not the other way around
I'm guessing that the NBA offers the services of financial advisers. Do they take it or not?
The biggest shock is WHEN THEY THOUGHT TREVOR WAS GOING TO BE BETTER THAN LEBRON 😂😂😂 LEBRON exposed him on espn high school game
There is no point trying to impress the Johnsons they don't care save that money man!
Gotta impress the people at the stop light that you don’t know or probably even like.
Lessons learned from this video? If you’re making millions then don’t get married. Just find yourself a concubine/FWB/situationship/Entanglement type of relationship. Don’t forget about using a cap on your gun. The alimony and child support demands from his ex-wife are outrageous. She spends $55,000 a month? She is only a stay at home mom with no job LMFAO. This is obviously a money grab 😂😂.
Simple problem. Expenses stay about the same, income drops dramatically. That will be a problem for just about anyone.
Wow... car payments crazy. I would expect buying those cash with such high salary
That big one was a lease too.
$117m net or gross. What about taxes (state and income)? Surely, its not $117m take home and its mostly gone.
Baby Momma costs $9000 a month for life. A vasectomy would have cost $800 one time.
Making millions of dollars with a poor man's mentality will always result in being poor again!!!
Funny how hockey players never really have this issue after hanging up their skates?
No groids
can someone objectively shortly explain to me like Im 5 why in the USA the Ex spouse is compensated based on previous LIFESTYLE as opposed to actual NECESSITIES ?
let the jokes coming but I'd actually like to know, possibly with sauce, why that is for real
Percentage is not a good argument here. 20% of 100M is 20M while 20% of 100k is 20k. Clearly the guy that has 20M of capital is much more likely to make more money.
I don’t want to be THAT guy but it’s suspicious they got a divorce right after the money dried up
Spenc I like you but watch it when talking about AI ! and I dont mean chapgpt...
Spencer do you know what has happened to Coffeezilla???
Shoulda been smart with his money 🤷♂
You can't expect that from someone with an IQ
Feels just like yesterday when Ariza left the Rockets to go to the Suns for more money. I think it was 15m a year for 2 or 3 years. Now he's broke? Damn.
Bro…dude earned 9 figures and by the time 2024 rolls around he’ll be broke… guess that’s why she dumped him last year?
Would’ve call Shaquille o Neal for business advice he would’ve been set
All facts, especially the last part about having multiple kids with different women
Always catching them before they go full broke
Crazy .., they’re like lotto winners …they’re like Tyson, hangers on, parties , huge entourage
Will never understand how NBA players go broke. Especially if they been in the league long enough like Trevor Ariza. Thanks for the video!
This video just explained it for you.
I guess pro athletes and I do have something in common , California takes half my money too 😂
These videos always get views
Kevin Durant is smart! No kids and not married!
Great content as always!
Zion watching this 😳
How do you even find this information
I hear Taiwan is interested in his services!
Patrick Mahomes marrying that brittany woman blows my mind. Like dude whyyyyyyyy
How long do you give it? Over under 10 years? If Tom can't keep a woman... my god.. who can?
He shouldn't have married her. Where was her broke a55 gonna go?
They got the skills to be good enough for NBA.
Got the money. Influenced by teammates luxurious life and cant get out of it. If only they have a financial advisor or some self-restraint.
Understand the urge to splurge, their job may be quite stressing especially when stakeholder keep pushing for the win. But they still need to think properly.
Monthly savings and investments are $500 BUT dining out is $4000!!!! WTF
I don’t understand how the men in these situations aren’t allowed to say to the courts I want to reduce my means of living for me and MY child. I no longer want to or need to spend X amount on this. The mother should have to abide by this since she isn’t the one making the money and she isn’t the only one who gets to have a say in how the child lives
Because the courts get there cut also
Bc courts are designed to screw men over
Man this is crazy and is making me upset. Like how??? How are you BROKE after 110 million? Smh. Like i know this explains it but how?!!! Smfh. How are you spending that much money that fast? Not thinking straight i guess
I don't know why players don't keep it simple if I was a millionaire I'll still have just one house, one car and that's it
hey spencer, great vid. but correction: they defeated the orlando magic in 2009, not the celtics.
they beat the magic in 2009 and the celtics in 2010
Please do more athlete vids
0:28 -- he won a ring when the lakers bea the magic in the finals. He was no longer with the lakers when they beat the celtics in 2010.