He wasn't thinking like this when he was ballin, that's the problem once we start falling we think like the ppl at the bottom,while at the top we ignore the bottom.
Because he was young n didn't know any better the owners who draft the guys should help them from the start n say hey put your money in this n that or else you will be broke 5 years after u retire
Because it isn’t a traditional employer. Many of these guys are in their teens and early 20s receiving millions of dollars. It’s foreseeable that they would blow the money. Furthermore many have never experience generational wealth and come from poverty actually. And
@@0Shane13 traditional employer? thats a bullshit excuse. The NBA been around for how long? If a player isnt privy to the past mistakes of previous players and how they went broke, then thats on the player themselves. What rule is telling a player they have to keep up with the Jones's and outdo each other? You might as well say the NBA should be responsible for golddigging women who target players to get child support checks lol
@@MichaelThomasFrazierThere's a huge difference between you losing a few grand and these kids who are 18-24 years old losing hundreds of thousands to multimillions of dollars. The bottom line is real financial literacy needs to be taught, and at least made into a culture, even if it's not through the NBA.
@@shynebayarea510 exactly. Envy the thing is people who say that Don't kno money so they think once u have som money ur rich. Even rich people aren't rich, richness is satisfaction. If u want more then ur no different than a broke person .
@@Ben2bwildESPN made an entire documentary BROKE and it’s always been known that athletes end up broke. Post-Hov: there’s no excuse. People just stupid.
It’s not rich dudes. It’s the ghetto project mentality. When you are used to people giving you something your whole life you will always expect it. The money doesn’t change the mentality: you will just want more
I think the fact he was 19 and focused on basketball more then school, and coming from poverty I think he mean with the amount of money the players make that should be contractually protected
You obviously didn’t watch the interview, he made great points and doesn’t seem bitter, just advocating for future nba players and trying to bring guidance to young players so they won’t make the same mistake he made.
@@Jay-qp6fxthis guy said he should have just stayed living in the projects. So you are going to be rich but raise kids in that same environment everyone wants out of? Especially because the temptations that negatively impact young kids in that environment.
Do you guys understand that interviewers sometimes have be relatable to the guests so that the interview could be more interesting? If the topics they’re talking is relatable to him, he should definitely bring that up so that there’s common ground!
@@bigcockedman714So there employer needs to pay them and monitor their spending? Imagine my job giving me my paycheck and telling me how to spend it. You think that will go over well with 20 something millionaires. What part does a person play in their financial responsibilities?
Am I the only person who didn’t hear him blame the NBA for players going broke? I heard him say it was NOT a trap. And it was because of conversations that players were not having. I only heard him say the NBA should protect players from the media hanging them once they go broke
When you hear someone especially a male say "conversations" and "narratives"... There comes out the effeminate spirit, will never take full responsibility besides blaming someone therefore staying in perpetual regret.
@@_benz4lyfe Well he never said It was their responsibility either, he just compared It to the cheating referees being protected. You’ve never heard any sports shows or players talk about cheating referees, and there is literally one admitting to it on Vladtv.
Not one gem was dropped. He blamed the agents, because players are too lazy to do their own *independent* research about investing *their* money for long term retirement.
@@mslessgo930 I can sympathize as our culture is tied up on flash and not education and being financially savvy. And he was young but your too old to be blaming others and not taking responsibility for your own decisions and how you spent your money.
His net is 8 million dollars he ain’t filthy but still rich. People forget he played overseas too and has investments 🤦🏾♂️. He’s speaking on his past not the present
Outside of pension and a league 401k, Sebastian and others have to realize, you have to manage your money and not just blow it all, then Expect to be taken care of off the strength. He made a few good points but he ultimately lacks accountability for money mismanagement by the players. You worked hard to earn your salary as a hooper, it’s no one’s responsibility to get you back on your feet after splurging
@@ZomegJ I get what he mean. Everyone situation is different but he had community. Them people in westchester probably didn't care about him and his family.
What did he bring to light?? The man was given an opportunity that 999999999999999999.9% of people would do anything for. He made Millions. There is NOTHING stopping players from taking their money and doing what ever they want. Pooling it together and creating a Hedge Found is one of them. This guy is a Baby who wants to blame everyone else for his mistakes. Who is stopping from what he is talking about doing?
i've set up a SEP IRA and solo 401k for myself as a self employed person. it took about 5 mins. NBA players are employees so I'm not sure they could even have them but if they can and don't do it it's their own fault.
He’s saying all the right things. It just it get lost in the sauce while you in the midst of it. Cats don’t stray from the formula and be thinking it’s gon be that way forever
Alot of them have their agents buy properties but the agents are not true professionals. Walker went bankrupt because the properties his team bought were shit.
I feel like a lot of athletes don’t know how to think and grow rich. Every time a professional athlete in most cases leave their respected sport they just start a podcast. They don’t build with the millions that they have. They don’t open up a huge factory and employee 3 to 5000 people, they don’t work on inventing something sustainable for human life. Most just simply started a podcast and spend their time talking about the old days.
We are all aware that Magic, Jordan, Lebron, and others have done well for themselves, but Google Junior Bridgeman, Vinnie Johnson, and Dave Bing. These guys are doing exceptionally well for themselves also, but are rarely talked about. Many of the younger former players are starting Podcasts, because it's the easiest business to get into these days without really needing any backing from anyone.
You want a guy who’s primarily been dribbling a ball for the majority of their life to magically turn into a Fortune 500 CEO. Non-sensical thinking man. Now if they took that money and hired qualified executive to guide them, then we’ll that’s more feasible. But the former is a stretch.
40 mil is 20 mil after taxes. 15 mil after agent and other...etc. and thats over his entire career. All kinds of payments, houses and property taxes. No one in the NBA is living off hotdogs and ramen. Everyone wants a nice lifestyle. So there's that. Clothes, jewelry, cars, fine dining, vacations, it adds up. Its not like he made 20 mil a year.
@clay5677 the pride is the simple fact that he comes from the inner city, he is also a black male that has been to the NBA, dealt with the business of the NBA, sees the flaws in the NBA and is making it his responsibility to Go against the machine. That takes guts! U wouldn't even stand up to your boss! Think about it.
@@BWIII215going against the machine? The mf crying bout blowing money and basically expecting the league to cover it, grown ass men FOH. If you made 40 mill-ish and you broke no go under the bridge mf you don’t deserve to have shit, that’s the harsh reality!
Smh A cautionary tale…Sebastian is a smart guy. I can tell he’s sharp from these interviews. He’s well read, has an excellent memory, and speaks well. He was forced to grow up really fast, and those hard lessons cost him. I remember him being that dude when I was in high school, but I’ve only really starting following his story recently. Im impressed. Hope he continues to grow a media presence and capitalize on his experiences.
@@alexisinsunza8120Lmaoo I was over here scratching my head too. Where does he come off smart? Where he doesn’t know his career earning? 😂Where he suggests the nba pay retired players debts?😂 Where he wants Lebron to find investment opportunities for everyone else? Bc I missed it😂
I appreciate the conversation. I hate that people bash others to make them feel better about themselves without finding understanding. Financial illiteracy is real. When you watch everybody in your community pass away with nothing and you know they didn't truly live in the first place, i can understand why people dont save and live to buy materialistic things n a society that makes you feel worthless without it
They have rookie symposiums in all sport to help them understand finance, and basically day-to-day life. A lot them choose not to listen to the advice because they think “ it won’t happen to me”. Now that the money is gone it’s the NBA fault. Take accountability for your actions
I truly think schools should definitely teach these young people how to manage/be your own agent in schools because no one should manage your income but you. When you let others do it for you. It is what it is. You cant complain.
I played D1 College Football, if I would’ve got drafted (I didn’t) and handed $10 million, I wouldn’t have known what to do with it. Fact is; sports players specialize is SPORTS, they don’t know about investing, it’s an “unknown-unknown” Sebastian has a point, his employer should be protecting their employees to some degree. A five minute talk about investing would eliminate that ignorance.
@@stephanied1028 I thought that too, but financial literacy would help more people than we think. Poor thinking produces poor habits, poor habits produce poor environments. That's why we have multimillionaire going broke.
@@asheqmusic I didn’t say it wouldn’t help, it would. It should be taught in schools 6-8 grade since a lot poor people never complete high school. I just think you can’t teach what you don’t know. Which is why many parents don’t teach their children and the cycle just continues.
@@stephanied1028 Bro you don't need a lot of money to start investing. Investing in putting a foot in the door is the best investment for yourself and children.
I really feel like his career would be totally different if he had went to college for at least a season, Never thought it was a good idea for him to go to the league straight from high school.
Here’s a pertinent question, why should the N.B.A. Be responsible for how you manage your money ? Why ? My money is my responsibility ! The same goes for you, its not anyone’s fault if your a moron with your cash.
With all of that money, why not just use it to hire a financial advisor, from the jump? No job I've ever accepted, has given me a crash course in how I should manage my finances, while employed. Am I missing something?
What do they do for them that's so great, keep them drugged up to continue to play that game that destroys their bodies ??? Yeah ok buddy, spoken like a fan whose never actually played sports before.
This guy is the poster child for NO SELF ACCOUNTABILITY!!! ITS THE NBA’s FAULT THAT HE IS NOW BROKE!!! SPENDING RECKLESSLY ON THE FLASH AND BLING TO STUNT!!!! NBA DOES NOT NEED TO DO ANYTHING ELSE FOR THE PLAYERS!!!! NFL DOES BUT NOT NBA!!!
Investments are personal. Its hard to talk to coworkers about personal finance without sounding judgy. That’s why people at work are talking about useless bs like fantasy football, it’s professional. Someone talking to their coworkers about money might be scammy, like that New Orleans saints long snapper who was scamming his colleagues into risky investments
I actually agree with what he’s saying. The people who aren’t listening are focusing on “they’re rich stop complaining figure it out”. Yeah that’s true but that’s not related to the point he’s making. What he’s speaking about is ethics and brand perception. He’s saying if the NBA can take our money (fines + a cheating ref can effect stats which effects contracts) to protect their brand, they should help us to protect our brand. That’s not an outrageous point.
That is an outrageous point. Lack of accountability. My boss pays me and it’s up to me to save, invest and not misspend my money to secure my financial future. How they any different?
@@alexc.7868 at the end of the day we have to be realistic with ourselves. Comparing your position and relationship to your boss is the same as comparing a school theater actor and to Denzel Washington. It isn’t the same lol. The relationship/partnership, money involved, unions, demands, PR presence, etc changes the dynamic. In order for your hypothetical to be at all comparable you’d have to include a third party vendor/contractor/client that affects your position detrimentally to the point of committing criminal activity that your boss covers in spite of you.
@@alexc.7868because the topic isn’t accountability lol. The topic is business interests. The NBA has two partners: refs and players. Which one do they go out of their way to protect? Why is it in their best business interest to only protect refs? It’s not difficult to comprehend.
@@quintessentialpictures7159 The more you trying to explain yourself the more it shows how little you know what you’re saying. You call the players…partners of the NBA? I’m what world are they partners. Players are 100 percent employees and not partners of the NBA. No wonder you agree with Sebastian 😂
Telfair will be ok he may never be as wealthy if he really protected his money but he still a NY high school and playground legend with a lot of connections anf youth on his side so he will always have more than the 9 to 5 average Joe
Pay attention people. Doesn't matter if it's a hedge fund manager managing billions or an athlete that makes $20M, those with wealth never think it's enough. They still feel like they need more help making and keeping what they made while the rest of us need to learn how to manage our money ourselves.
It’s about taking accountability at the end of the day . He made the choices he made & had certain ppl around him. Instead of bashing the NBA for not doing this or that, give advice to players on how to expand their wealth 💯
I love Sebastian as a person, but it looks like he has to hold himself accountable regarding his bad financial decisions and correct them if he wants to do better in life right now. Instead of talking accountability it even sounded like he tried to say how these agents are controlling these players. Hopefully he corrects his mistakes and get some financial literacy because those are two things that will honestly help him right now. 💯💯
I agree, but you have to consider at this time of Telfair's life he was making life changing money and he came from nothing. He didn't know how to deal with it. What he is saying is right, the agents should bare some responsibility for teaching financial literacy to their players. Or this should be mandatory subject in College. Either way, ultimately Telfair needs to take accountability. You just CANNOT go broke after making 40mil.
Having a cousin in the Nba before him that he didn't listen to is one of his problems. You will never tell a rich person anything regardless of what happened before them. They always think it's not gonna happen to them. It's funny how all of these NBA players talk about how they know the history of the game but don't know who Junior Bridgeman is. This man never made more than 350k a season in the NBA and is one of the richest NBA players in the world. The part that he left out is that they do have meetings with every NBA player about financial things after they get drafted they do it in every sport some people just choose not to listen in those meetings.@@jjruss8238
The NBA league needs financial courses which I hear they’ve implanted the last few years. Now it’s up to the players to take these courses in their off time and make better decisions. The NBA wasn’t in the clubs with them when they were buying them bottles. The NBA wasn’t with them when they were making custom jewelry pieces. Also the NBA didn’t help them choose these IG Gold diggers that they marry and take all their money. Players need to be held accountable for THEIR actions. So I agree with with him saying that it would be smart for the players to come together in the locker room and start business and focus on their retirements yes, but from what I hear most of these players don’t even talk to each other after the seasons is over. MORE ACCOUNTABILITY AND LESS BLAME
You are right but A person shouldn’t have to take a course to know they don’t need to buy all them damn cars and jewelry and have 6 baby mommas. A human that’s making money shouldn’t need a course or no one to tell them that. These folks get all this money and lose their minds. It’s ridiculous!!!
@@OneTwentyOnELLC keep in mind these players are coming to the league out of college. Study shows your frontal lobe dsent fully develop until Age 24 and high percentage are coming from close to poverty environments. The mandatory courses can help a lot
@@confidentialp6292 those are excuses my brother. They all come into the league out of college and the ones who came out of high school was even younger. If that was the case, they all would go broke and they all don’t. The ones who go broke just be ignorant with the money. If they stopped all the unnecessary spending and leave all the women alone, I’ll bet money wouldn’t no athlete go broke. They get the money and do the most with the money. No athlete needs 5 kids by 5 different women. No athlete needs 15 cars. No athlete needs 5 million dollar worth of jewelry.
He wasn't thinking like this when he was ballin, that's the problem once we start falling we think like the ppl at the bottom,while at the top we ignore the bottom.
😮💨😮💨
Damnnnn deep
Because he was young n didn't know any better the owners who draft the guys should help them from the start n say hey put your money in this n that or else you will be broke 5 years after u retire
Unless the NBA is robbing thier employee's money, why should they be responsible for their employees going broke?
Because it isn’t a traditional employer. Many of these guys are in their teens and early 20s receiving millions of dollars. It’s foreseeable that they would blow the money. Furthermore many have never experience generational wealth and come from poverty actually. And
@@0Shane13nigga I was in McDonald’s at 16 there ain’t no reason to blame them for me being broke
@@0Shane13 traditional employer? thats a bullshit excuse. The NBA been around for how long? If a player isnt privy to the past mistakes of previous players and how they went broke, then thats on the player themselves. What rule is telling a player they have to keep up with the Jones's and outdo each other? You might as well say the NBA should be responsible for golddigging women who target players to get child support checks lol
@@MichaelThomasFrazierThere's a huge difference between you losing a few grand and these kids who are 18-24 years old losing hundreds of thousands to multimillions of dollars. The bottom line is real financial literacy needs to be taught, and at least made into a culture, even if it's not through the NBA.
People have to be accountable that’s the problem most people walk around with a poor mindset and aren’t accountable
I’m annoyed by multimillionaires saying they not getting enough help
U can still have money and b broke. Money is a concept, ur ambitions are different I can have more money than u but feel more broke .
Crabs in a barrel mentality u have
@@shynebayarea510 exactly. Envy the thing is people who say that Don't kno money so they think once u have som money ur rich. Even rich people aren't rich, richness is satisfaction. If u want more then ur no different than a broke person .
@@TkKirklandReal 👍
@@TkKirklandRealthat's a dumb comment if you're a smart man with your money and you invest and saved up properly a smart man never goes broke.
His level of accountability is very low
I feel like he's dropping good knowledge for future players. He doesn't seem bitter or anything. He sounded like he lived and learned his lessons.
FACTS! lol real talk@@Ben2bwild
@@Ben2bwildESPN made an entire documentary BROKE and it’s always been known that athletes end up broke. Post-Hov: there’s no excuse. People just stupid.
@@oophorror2251ppl without money always know what to do with money 😒 ..
@@Ben2bwildbro white people are salty they never had talent
Imagine making $40 mil and getting upset that your boss didn’t do enough for you 😂😂. The entitle of these rich guys
I thought this was a joke
He out his damn mind...
He’s salty because he wasted all his money
So he was man enough to make the money but not man enough to hold on to it ? How is that the league's fault ?
It’s not rich dudes. It’s the ghetto project mentality. When you are used to people giving you something your whole life you will always expect it. The money doesn’t change the mentality: you will just want more
NBA gave you the money, you blew it
I think the fact he was 19 and focused on basketball more then school, and coming from poverty I think he mean with the amount of money the players make that should be contractually protected
NBA didn’t “give” them anything. If that’s the case, they would’ve gave it to me and you brotha
You obviously didn’t watch the interview, he made great points and doesn’t seem bitter, just advocating for future nba players and trying to bring guidance to young players so they won’t make the same mistake he made.
@@Jay-qp6fxthis guy said he should have just stayed living in the projects. So you are going to be rich but raise kids in that same environment everyone wants out of? Especially because the temptations that negatively impact young kids in that environment.
These people sacrificed and worked their asses off to get to the NBA.
Vlad proves again he is too busy talking about himself to really listen to guests.
It ain’t nothing to listen to. It’s a grown man playing victim. Because he wasn’t responsible with his money
@paiza1187and people haven’t not become followers or subscribers because of him; it’s his guest and their stories.
@paiza1187he's the interviewer. It's not about him
Do you guys understand that interviewers sometimes have be relatable to the guests so that the interview could be more interesting? If the topics they’re talking is relatable to him, he should definitely bring that up so that there’s common ground!
@@deejayjohnnyb😂😂😂 you got it
Sorry Bassy. You was flossing, driving Bentleys. Splurging
Sorry but not sorry lol it’s real out here
By reading the title, i didnt agree with the premise. But he did make some solid points, and its a discussion i think should be continued.
I Thought The Exact Same Thing 💯
You can tell who didn't watch the video
I myself wasn't thinking about investments till I was 30 and I am no one.. now image dudes who are getting 7 figures per year...
@@bigcockedman714So there employer needs to pay them and monitor their spending? Imagine my job giving me my paycheck and telling me how to spend it. You think that will go over well with 20 something millionaires. What part does a person play in their financial responsibilities?
I don't care what anyone says. You're not supposed to go broke after making 40 million
2 million to be fr fr💯😭
you sure can if you are young and not financial minded.
@@elliot2177he didn’t say you can’t he said you’re not supposed and he’s right.
You can go broke in 8 years of if you spend 5 Mil a year which is around 400k a month
@@mohamedsaid9416 plus he was very materialistic. The black community is too caught up on material things , we waste a lot of money on nonsense...
Have you ever tried to tell a teenager, millionaire or famous athlete what to do? Imagine all 3 in one. You can't tell them anything.
LOL!!!! WOW!!! Now can't nobody argue with that statement.
So they can’t cry when they make bad decisions like this guy
The keyword for this interview should be called “ACCOUNTABILITY” !!!!!!
“ Lack of Accountability “
I’M SAYING!!!!
Y'all say this as normal ppl , throw them millions as a kid in the PJs . Nobody going to spend money wisely til you get older and it may be all gone
@9:53 is that not accountability???
You are illiterate
Am I the only person who didn’t hear him blame the NBA for players going broke? I heard him say it was NOT a trap. And it was because of conversations that players were not having. I only heard him say the NBA should protect players from the media hanging them once they go broke
Yeah but even that’s still not the NBA’s responsibility..
That’s exactly what he said!! 💯 But comment section full of weirdos🙄
When you hear someone especially a male say "conversations" and "narratives"... There comes out the effeminate spirit, will never take full responsibility besides blaming someone therefore staying in perpetual regret.
@@Vino_Czar glad someone else noticed it too
@@_benz4lyfe Well he never said It was their responsibility either, he just compared It to the cheating referees being protected. You’ve never heard any sports shows or players talk about cheating referees, and there is literally one admitting to it on Vladtv.
Telfair was dropping gems! Schooling vlad and the world what goes on behind the scenes in the nba!
💯
@@Vino_Czar Nah he needs to take responsibility!
Not one gem was dropped. He blamed the agents, because players are too lazy to do their own *independent* research about investing *their* money for long term retirement.
@@mslessgo930 I can sympathize as our culture is tied up on flash and not education and being financially savvy. And he was young but your too old to be blaming others and not taking responsibility for your own decisions and how you spent your money.
@@markmmmm9720yea
His documentary when he was in high school was 🔥
Outside of the players who are scammed out of their money, who blows the money that ends them up in a terrible situation financially?
Say you went broke without saying you went broke
He’s not broke tho🤦🏾♂️
😂 man shut up that nigga Louie sweater probably cost more than any piece of clothing you ever thought about purchasing! Stop it
His net is 8 million dollars he ain’t filthy but still rich. People forget he played overseas too and has investments 🤦🏾♂️. He’s speaking on his past not the present
@@IGH414-zs5sgthe haters will become worse as financially white folks go broke. Theyre envious at their core
@@IGH414-zs5sggoogle net worth is pretty much random numbers.. I thought everyone knew that by now 😂
Let’s take a drink every time the terms “hedge fund” and “narrative” are said.
Good points made,great dialogue
Outside of pension and a league 401k, Sebastian and others have to realize, you have to manage your money and not just blow it all, then Expect to be taken care of off the strength. He made a few good points but he ultimately lacks accountability for money mismanagement by the players. You worked hard to earn your salary as a hooper, it’s no one’s responsibility to get you back on your feet after splurging
That's true, but the problem is with most of them. They never think they're going to go broke.
Man he lacks accountability for everything!
Raja Bell was a tough defender on Kobe back in those Suns vs Lakers playoffs series 🏀
if you lose millions by spending it there should be no sympathy
You can go broke in 8 years from 40 Mil if you spend 5 Mil a year which is around 400k a month
@@mohamedsaid9416ok so if your smart enough to know that why would you spend 5 million a year? 🤡
@@mohamedsaid9416that's in him .
“We shoulda stayed in the project, that’s a fact” is wild
Thats ignorance at its finest...thats what that is.
That's dumb the man had a golden opportunity and blew it and living in the projects as a grown man is like living with your parents at 50 😂😂
@@ZomegJ I get what he mean. Everyone situation is different but he had community. Them people in westchester probably didn't care about him and his family.
@@godofthisshit you never worry about someone who doesn't care for you he was just foolish with his money plus he should have a pension.
@@ZomegJ I can tell that you never lived in a dope ass community.
His ex-wife got him bitter and brutally honest 😂 . I dig it 🤙🏿
Why would the NBA have to protect a player from going broke ? No company will protect anyone from going broke.
Keep Speaking up I will always support dude , nobody else from the NBA IS GIVING UP THIS KIND OF INFORMATION ‼️‼️‼️‼️
lol its basic information he not saying nothing ground breaking
What did he bring to light?? The man was given an opportunity that 999999999999999999.9% of people would do anything for. He made Millions. There is NOTHING stopping players from taking their money and doing what ever they want. Pooling it together and creating a Hedge Found is one of them. This guy is a Baby who wants to blame everyone else for his mistakes. Who is stopping from what he is talking about doing?
What information? Lol.
I love comments like this, they are just full of mediocre thinking. Just feel good comments. I realized most people have nothing of value to say.
@@315giantsyea
Why should the nba help adults who blow through millions of dollars people are out there living off 12,000 a year
The ref was talking about raja bell btw “kobe stopper” 😂😂😂
Antoine Walker blew $110 Million and this dude talking about digging him out of $6 Million debt....man please
Facts
@02:48 - SEP-IRA.... If you don't know about it, look it up. He's dropping facts.
i've set up a SEP IRA and solo 401k for myself as a self employed person. it took about 5 mins. NBA players are employees so I'm not sure they could even have them but if they can and don't do it it's their own fault.
He’s saying all the right things. It just it get lost in the sauce while you in the midst of it. Cats don’t stray from the formula and be thinking it’s gon be that way forever
💯
He's right. When I quit my job at taco bell, my boss never pulled up and made sure my pockets are full.
😂
Never heard "hedge fund" used as a verb so many times.
😂😂😂😂😂😂😂
Surprised bruh aint mention the flying spur and louis vuitton as his best purchases💀
The NBA shouldn’t have to manage your millions after you retire 🤦♀️
He never said that, listen 👂
They don't talk about investment they too busy listening rap music who tells them to go buy the Jewelry
One thousand percent true. And there are current n b a players are making the same mistakes.
You can’t blame the league because you didn’t manage the millions you got over your career
Any smart person would know you get a finicial advisor when you have a certain amount of money
If you blow 40 million, it's not the NBA's fault
it could be
He keeps mentioning “hedge funding”… lol he sounds utterly ridiculous. His monetary errors are vast and too numerous to count
guess he doesn't realize the hedge fund folks have BILLIONS
Jewelry, cars, trips….gone. First thing you buy is rental properties. Live off that and put the rest in bank
Alot of them have their agents buy properties but the agents are not true professionals. Walker went bankrupt because the properties his team bought were shit.
@@MoSo-xv1vx land land land…..only goes up in long run
This a great conversation to have about how to keep wealth.
I feel like a lot of athletes don’t know how to think and grow rich. Every time a professional athlete in most cases leave their respected sport they just start a podcast. They don’t build with the millions that they have. They don’t open up a huge factory and employee 3 to 5000 people, they don’t work on inventing something sustainable for human life. Most just simply started a podcast and spend their time talking about the old days.
We are all aware that Magic, Jordan, Lebron, and others have done well for themselves, but Google Junior Bridgeman, Vinnie Johnson, and Dave Bing. These guys are doing exceptionally well for themselves also, but are rarely talked about. Many of the younger former players are starting Podcasts, because it's the easiest business to get into these days without really needing any backing from anyone.
Damn
You want a guy who’s primarily been dribbling a ball for the majority of their life to magically turn into a Fortune 500 CEO.
Non-sensical thinking man.
Now if they took that money and hired qualified executive to guide them, then we’ll that’s more feasible. But the former is a stretch.
Most of them not on that level to actually run a company
40 mil is 20 mil after taxes. 15 mil after agent and other...etc. and thats over his entire career. All kinds of payments, houses and property taxes. No one in the NBA is living off hotdogs and ramen. Everyone wants a nice lifestyle. So there's that. Clothes, jewelry, cars, fine dining, vacations, it adds up. Its not like he made 20 mil a year.
Facts
Telfair was always a legend to kids in the inner city. You can tell he really from the inner city. This is probably by far my favorite interview.
It's sad that this gives you a sense of pride
@clay5677 the pride is the simple fact that he comes from the inner city, he is also a black male that has been to the NBA, dealt with the business of the NBA, sees the flaws in the NBA and is making it his responsibility to Go against the machine. That takes guts! U wouldn't even stand up to your boss! Think about it.
@@BWIII215going against the machine? The mf crying bout blowing money and basically expecting the league to cover it, grown ass men FOH. If you made 40 mill-ish and you broke no go under the bridge mf you don’t deserve to have shit, that’s the harsh reality!
@@clay5677damn
Need more of Telfair
Vlad be forcing them flashbacks 😂
Dude be having flashes of anger but then quickly realizes he's the one that fucked up.
When you spend All you're money there's always n xcuse 4 more loll😭🙌🏼💫
My job don’t care about my 100k a year and if I have money when I retire.
U got the wrong boss
I like what Sebastian Telfair said here. He had valuable points. Obviously he should take accountability, but you learn from your mistakes.
Smh A cautionary tale…Sebastian is a smart guy. I can tell he’s sharp from these interviews. He’s well read, has an excellent memory, and speaks well. He was forced to grow up really fast, and those hard lessons cost him. I remember him being that dude when I was in high school, but I’ve only really starting following his story recently. Im impressed. Hope he continues to grow a media presence and capitalize on his experiences.
Ummm....if you think he comes off as smart, than you are slow
@@alexisinsunza8120Lmaoo I was over here scratching my head too. Where does he come off smart? Where he doesn’t know his career earning? 😂Where he suggests the nba pay retired players debts?😂 Where he wants Lebron to find investment opportunities for everyone else? Bc I missed it😂
Magic johnson was surrounded by investors in his playing days and made some. he said some players weren’t interested
ProtecK ya neck With Wu-Finacial
😭😭😭😭
When im done working at walmart they dont make sure i keep getting paid. No play no pay
He said it- " LeBron responsible for himself and his family".
I appreciate the conversation. I hate that people bash others to make them feel better about themselves without finding understanding. Financial illiteracy is real. When you watch everybody in your community pass away with nothing and you know they didn't truly live in the first place, i can understand why people dont save and live to buy materialistic things n a society that makes you feel worthless without it
That's the problem.......STOP CARING ABOUT OTHER PEOPLE.....FOCUS ON SELF
@@lesanecrooks3349right
They have rookie symposiums in all sport to help them understand finance, and basically day-to-day life. A lot them choose not to listen to the advice because they think “ it won’t happen to me”. Now that the money is gone it’s the NBA fault. Take accountability for your actions
I truly think schools should definitely teach these young people how to manage/be your own agent in schools because no one should manage your income but you. When you let others do it for you. It is what it is. You cant complain.
I'm supposed to feel bad for these idiots blowing their money yeah....I'll shed a few tears.....😂
I like these kinds of conversations
I played D1 College Football, if I would’ve got drafted (I didn’t) and handed $10 million, I wouldn’t have known what to do with it. Fact is; sports players specialize is SPORTS, they don’t know about investing, it’s an “unknown-unknown” Sebastian has a point, his employer should be protecting their employees to some degree. A five minute talk about investing would eliminate that ignorance.
and they are surrounded by an industry designed to fleece them of their $$$
It's not the NBA's job. You wanna spend all your money on fun and BS and wanna blame your EMPLOYER?? That's hilarious and stupid af
Does your current job do this? They need to take accountability.
I guarantee he blew his money.....my goodness
facts athletes should be required to take some sort of financing class to prevent things like this
Great points by Telfair about players changing their focus and becoming a investment group.
He made some very valid points.. very intelligent dude very articulate.. I agree with a lot of what he said ..
Financial literacy amongst the poor is sadly not a priority. Took me until i was 30 to figure it out myself smh.
It’s not a priority because they’re too busy trying to survive. They lucky if they have enough money for bills, let alone investments.
@@stephanied1028 I thought that too, but financial literacy would help more people than we think. Poor thinking produces poor habits, poor habits produce poor environments. That's why we have multimillionaire going broke.
@@asheqmusic I didn’t say it wouldn’t help, it would. It should be taught in schools 6-8 grade since a lot poor people never complete high school. I just think you can’t teach what you don’t know. Which is why many parents don’t teach their children and the cycle just continues.
@@stephanied1028 Bro you don't need a lot of money to start investing. Investing in putting a foot in the door is the best investment for yourself and children.
@@stephanied1028 So blame the bum parents!!!
Great convo!
This dude made 40 mill and got a fancy jacket to show for it lol
Lol... it's a lease. He doesn't own that.
The players are getting more than enough help, they are just ignoring the advisers because they feel the money will never stop coming in.
If the players get richer then the owners that would be crazy 😂 Bassy talkin rn
Anyone I hear athletes or entertainers say their broke it blows my mind. They touch millions and only have stories about the money cause it gone 🤦🏾♀️
I really feel like his career would be totally different if he had went to college for at least a season, Never thought it was a good idea for him to go to the league straight from high school.
Living legend learned my crossover overs from his dvd highlights 🔥
Here’s a pertinent question, why should the N.B.A. Be responsible for how you manage your money ? Why ? My money is my responsibility ! The same goes for you, its not anyone’s fault if your a moron with your cash.
This is probably the best conversation(wasn't a interview, brody took over the convo) I ever seen from parasite ass vlad
Protect yourself.
He played in high school with my little cousin Antonio Pena! Shout out to Sebastián
With all of that money, why not just use it to hire a financial advisor, from the jump? No job I've ever accepted, has given me a crash course in how I should manage my finances, while employed. Am I missing something?
I think the “Kobe Stopper” was Rueben Patterson that played for Portland?
It was definitely Ruben Patterson lol
@@tristan_the_blerdy'all both wrong it was Raja Bell 💯
The players does so much for the league, they deserve for the league to look out for their money. They deserve it.
or take Accountability....league doesn't owe them shhh already paying them.
Do they need NBA accountants to keep them from buying gold chains and hookers?
Look out for there money? Its the players money they are responsible for it not nobody else smh accountability son you should learn about it.
What do they do for them that's so great, keep them drugged up to continue to play that game that destroys their bodies ??? Yeah ok buddy, spoken like a fan whose never actually played sports before.
So a grown adult should be given an allowance 😂😂
Blew 40 mill and No PRE NUP!!! Crazy!!
He’s a smart guy. It’s unfortunate on his part he’s in this predicament
Wow! This one was DEEP.
This guy is the poster child for NO SELF ACCOUNTABILITY!!! ITS THE NBA’s FAULT THAT HE IS NOW BROKE!!! SPENDING RECKLESSLY ON THE FLASH AND BLING TO STUNT!!!! NBA DOES NOT NEED TO DO ANYTHING ELSE FOR THE PLAYERS!!!! NFL DOES BUT NOT NBA!!!
You the poster the child for illiterate
Exactly, these people are amazing. How to say you are a loser without telling us.
Investments are personal. Its hard to talk to coworkers about personal finance without sounding judgy. That’s why people at work are talking about useless bs like fantasy football, it’s professional. Someone talking to their coworkers about money might be scammy, like that New Orleans saints long snapper who was scamming his colleagues into risky investments
Bro took zero accountability lol smh
He invested in phillipe in NY right ? And made around 44 million ?
Great interview shoutout to Bassey he went through a lot.
This dude is focused. And sure footed. I like that
Wow....I'm just completely in shock. But I see definitely see his point of view.
I SAID THE SAME THING STANDING IN MIKE VICK FRONT YARD WHEN HE PLAYED FOR THE FALCONS. I WONDER WHAT HIS NEIGHBORS DO FOR A LIVING.
9/10 work a regular job
@@trevonBell44 Facts
Why do y’all think retired players never want to say how much money they made in their career? NOT how much money you have now!
I actually agree with what he’s saying. The people who aren’t listening are focusing on “they’re rich stop complaining figure it out”. Yeah that’s true but that’s not related to the point he’s making. What he’s speaking about is ethics and brand perception. He’s saying if the NBA can take our money (fines + a cheating ref can effect stats which effects contracts) to protect their brand, they should help us to protect our brand. That’s not an outrageous point.
That is an outrageous point. Lack of accountability. My boss pays me and it’s up to me to save, invest and not misspend my money to secure my financial future. How they any different?
@@alexc.7868 at the end of the day we have to be realistic with ourselves. Comparing your position and relationship to your boss is the same as comparing a school theater actor and to Denzel Washington. It isn’t the same lol. The relationship/partnership, money involved, unions, demands, PR presence, etc changes the dynamic. In order for your hypothetical to be at all comparable you’d have to include a third party vendor/contractor/client that affects your position detrimentally to the point of committing criminal activity that your boss covers in spite of you.
@@quintessentialpictures7159 The lack of accountability is insane 😂
@@alexc.7868because the topic isn’t accountability lol. The topic is business interests. The NBA has two partners: refs and players. Which one do they go out of their way to protect? Why is it in their best business interest to only protect refs? It’s not difficult to comprehend.
@@quintessentialpictures7159 The more you trying to explain yourself the more it shows how little you know what you’re saying. You call the players…partners of the NBA? I’m what world are they partners. Players are 100 percent employees and not partners of the NBA. No wonder you agree with Sebastian 😂
Accountability !! 🗣️
Telfair will be ok he may never be as wealthy if he really protected his money but he still a NY high school and playground legend with a lot of connections anf youth on his side so he will always have more than the 9 to 5 average Joe
The homie is Kicking some Real Shit 💯
he's kicking excuse making and ignorance.
Pay attention people. Doesn't matter if it's a hedge fund manager managing billions or an athlete that makes $20M, those with wealth never think it's enough. They still feel like they need more help making and keeping what they made while the rest of us need to learn how to manage our money ourselves.
You can go broke in 8 years of if you spend 5 Mil a year which is around 400k a month
Define they?
@@BeHope113 "They" was defined in the comment. Those in top tier salary professions. $20M/year was my example as was athletes and fund managers.
@@goodfellabeats reading too fast
@@BeHope113 👍🏿
It’s about taking accountability at the end of the day . He made the choices he made & had certain ppl around him. Instead of bashing the NBA for not doing this or that, give advice to players on how to expand their wealth 💯
I love Sebastian as a person, but it looks like he has to hold himself accountable regarding his bad financial decisions and correct them if he wants to do better in life right now. Instead of talking accountability it even sounded like he tried to say how these agents are controlling these players. Hopefully he corrects his mistakes and get some financial literacy because those are two things that will honestly help him right now. 💯💯
I agree, but you have to consider at this time of Telfair's life he was making life changing money and he came from nothing. He didn't know how to deal with it. What he is saying is right, the agents should bare some responsibility for teaching financial literacy to their players. Or this should be mandatory subject in College. Either way, ultimately Telfair needs to take accountability. You just CANNOT go broke after making 40mil.
Having a cousin in the Nba before him that he didn't listen to is one of his problems. You will never tell a rich person anything regardless of what happened before them. They always think it's not gonna happen to them. It's funny how all of these NBA players talk about how they know the history of the game but don't know who Junior Bridgeman is. This man never made more than 350k a season in the NBA and is one of the richest NBA players in the world. The part that he left out is that they do have meetings with every NBA player about financial things after they get drafted they do it in every sport some people just choose not to listen in those meetings.@@jjruss8238
bassy don’t let that stuff bear on your shoulders you did things people would never do. You seem depressed man keep your head up.
Not the leauges job to teach its players how to manage $ better
Yes it is. It’s an fair exchange for the talent and popularity they provide the league
@@0Shane13that’s like America advising Ukraine on how they spend their war money
@@0Shane13no it isn't you slow. No job does that .
@@ljblakejr 😅😅
@@ljblakejr isn’t that happening
“They’re not going broke because of money, jewelry and all that stuff” Ok😂
The NBA league needs financial courses which I hear they’ve implanted the last few years. Now it’s up to the players to take these courses in their off time and make better decisions. The NBA wasn’t in the clubs with them when they were buying them bottles. The NBA wasn’t with them when they were making custom jewelry pieces. Also the NBA didn’t help them choose these IG Gold diggers that they marry and take all their money. Players need to be held accountable for THEIR actions. So I agree with with him saying that it would be smart for the players to come together in the locker room and start business and focus on their retirements yes, but from what I hear most of these players don’t even talk to each other after the seasons is over. MORE ACCOUNTABILITY AND LESS BLAME
You are right but A person shouldn’t have to take a course to know they don’t need to buy all them damn cars and jewelry and have 6 baby mommas. A human that’s making money shouldn’t need a course or no one to tell them that. These folks get all this money and lose their minds. It’s ridiculous!!!
@@OneTwentyOnELLC keep in mind these players are coming to the league out of college. Study shows your frontal lobe dsent fully develop until Age 24 and high percentage are coming from close to poverty environments. The mandatory courses can help a lot
They have financial courses, they go threw them during their rookie similars
@@confidentialp6292 those are excuses my brother. They all come into the league out of college and the ones who came out of high school was even younger. If that was the case, they all would go broke and they all don’t. The ones who go broke just be ignorant with the money. If they stopped all the unnecessary spending and leave all the women alone, I’ll bet money wouldn’t no athlete go broke. They get the money and do the most with the money. No athlete needs 5 kids by 5 different women. No athlete needs 15 cars. No athlete needs 5 million dollar worth of jewelry.