fnordcircle

You guys realize that the continuing narrative we see of one hit wonders who made it big and went broke, sports stars who end up bankrupt, lottery winners who end up feeling their lives are ruined after winning it big isn't just a bunch of unrelated coincidences.

Managing money isn't easy. There's plenty of studies out there about how people can make like 40k a year and others can makes like 80k a year but there is no difference in quality of life between the two sides.

If you think you'd have no problems managing millions of dollars you're probably no different than others who won 25 million dollars after having an average yearly salary of 40k a year and ended up in debt.

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Joker

I disagree....using THIS board as an example...we have a preponderance of professional types, from lawyers to accountants,musicians to artists..who seem to understand the intricasies of NFL capology(something I'll bet most NFL players can't even begin to comprehend).To suggest they would suddenly "go broke" because the sheer volume of money would overwhelm them is pretzel logic with mustard on top.

Personally, I'm not rich by any means...but I worked at building my life, invested prudently and I'm now secure enough to lead the life I choose. I don't trust my savings to someone who uses other people's money to make a percentage off the top. There are plenty of ex-NFL players who have gone on to much success and accolades post playing days.

The real point is, you CANNOT make chicken salad out of chicken *****. A T.O. has consummate PHYSICAL skills...obviously, he lacks the shrewdness and mental acuity to manage his net worth and prosper as his life unfolds. This is not anything new...just look at the people who trusted Madoff. When you are faced with a financial bonanza like an NFL contract, it behooves you to educate yourself in all financial aspects such a windfall provides. If you don't, THAT is on you.

parthasas

One thing I never understood, why do rich and famous people ever get married? They know for sure they will be taken to cleaners anyway when the marriage falls apart and they KNOW it will fall apart !

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Joker

it's their way of compensating...getting back to "normal"...

see? just because I'm this huge media star doesn't mean I can't get married...like Mom and Dad did...I just need to find the right person....another 10 or 15 tries and I think I'll have the hang of it...check out my "Just A Regular Star" home decor website...I've gone to great efforts to share my decorating secrets...like where to place the diamond and emerald encrusted Ottoman for maximum effect....and "Servant Quarters Touchup Tips" for the star handyman fixer-uppers out there....

PatsGirl2011

Sadly, this medical provider thinks T.O actually suffers from depression. He used his money to make himself "happy" and "feel better," but now its all gone he can't do that. If he was a narcissistic he wouldn't be able to give money to other people; thus I lean towards more of a borderline personality disorder if anything, but that is hard to say even just reading an article because I don't know him personally.

The Scrizz

I'm sorry, I can't read a whole thread about TO but did the OP say he felt sorry for Terrell Owens because he managed to blow through 80 million dollars?

I don't care what kind of problems face the suddenly nouveau rich. They have a very easy option when the money runs out. It's called getting a job. Why is the immediate assumption made that an athlete can play a sport for a few years and then be set for life? Why is it a shame when he has no money?

I'll be working until I'm at least 65 and probably 70. Why the f@ck would I care if some idiot blew his wad and can't afford a mansion anymore. GET A JOB. My hopes for this country are seriously depressed when even millionaire athletes have become part of our Victim Culture because they are too stupid to balance a checkbook.

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I was like, ‘Dang! Um, Mr. Brady, can we line up?’ He didn’t care. He was like, ‘You’re not going to line up.’ When we turned around one time I checked back around and my hand was going to the grass and they were like, ‘Hut!’ And I said, ‘Noooooooooooo!’

fnordcircle

Saying something doesn't make it true. The reality is that there are tons of examples of people who went from poor/middle-class to excessively wealthy ending up broke or in debt.

You can't simply handwave that away because we have a lawyer who posts here and you think he would be able to manage his money just fine.

TO is clearly a guy with emotional problems and people finding joy in the fact the guy is broke are the epitome of the mean-spirited internet poster whose self-righteous vilification of another human being without regard for circumstances is particularly vile to me. Especially when it's possible the people who are taking joy in his downfall might they themselves fall prey to the same pitfalls.

For instance, most of us manage our budget under the expectation that we'll continue to earn at the level we do now. That's why we buy houses that cost 10x what we have in savings. When a rich person does this they're doing the same thing - expecting that there will 'always be more where that came from.' It's a very seductive state of mind to find yourself in and having more zeroes at the end of your paycheck doesn't make you immune to it.

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fnordcircle

Let me know what job options are available to an out of work athlete that allow them to cover 1/2 a million a year in child support alone because I want to get in on that line of work pronto.

I mean you can't simply be oversimplifying here, right?

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Armchair Quarterback

Maybe if he didn't act like a childish selfish *****hole his whole career he'd still have a job.

JaxPats

Tough *****

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