AP In Massive Debt?

[Wheelman]

Yea I don't see how he can afford to.

The other factor is IIRC he has 9 children. I can't even imagine what he is shelling out monthly in child support and perhaps even alimony.

He's probably shelling a couple of beatings out to his children. Adrian Peterson still beats his child. He admitted to this last season. Nobody batted an eye!

 

[RobertWeathers]

He's probably shelling a couple of beatings out to his children. Adrian Peterson still beats his child. He admitted to this last season. Nobody batted an eye!

...and he did not rule out using a switch again.

 

[Ice_Ice_Brady]

This dude owes 5.6 million on cars.

And this is where the “oh, that bad advice!” shtick gets pretty annoying. Even pre-adolescent children understand the basic concepts of overspending. My daughter is eight, and it’s not like I’ve had in-depth talks with her about the finer points of saving/investing, but she can very easily understand the concept spending way too much on things she doesn’t need and at least to choose wisely. You’re telling me a grown man can’t be responsible to live off of $100M+ for his short career, let alone his lifetime? No, this is about absolute, inexcusable stupidity and arrogance. Needing to buy a plethora of hot shot luxury cars and an absurdly decadent lifestyle. He chose to blow his cash on that lifestyle with his vain, showy personality, so that’s that.

I feel bad for people who really get swindled, like Madoff-style. Nothing was stolen from this stump head. There are so many worthy charities and causes in this country that could have used $100M...this moron wasted it to show off and now we’re supposed to point fingers on his advisers and make excuses for him? No thanks.

 

[supafly]

Not that this comment will contribute much to the thread, but count me in as someone who isn’t going to feel too badly for him.

 

[varjao]

The NFL has people to advise these players about investing after the game.

Peterson is responsible for his own actions. Its a free country and if you want to have 9 kids and 5 luxury cars go for it. Ignorance is no excuse for your own life choices.

I believe many sure bet first rounders are already in debt before they even get drafted.
It should start pre-NFL. Difficult to regulate this on the college level but the degree most of these guys get is a joke, lower grades etc, at least make it obligatory a full semester of some sort of economics for life class for every athlete no matter the sport. When it comes to combine, make it another round of lectures for that selected group of players. And finally they should put something in the CBA about this, if there isn't already, the sample size is significant, too many examples.

If after all of that the player still blow his money, then mi amigo, so sorry, you're gonna have to work regular jobs like everyone else, good luck.

 

[RobertWeathers]

Not that this comment will contribute much to the thread, but count me in as someone who isn’t going to feel too badly for him.

Me neither. I'm sure hes had dozens of people try to give him sound financial and family planning advice and hes chosen his path.

 

[RobertWeathers]

I believe many sure bet first rounders are already in debt before they even get drafted.
It should start pre-NFL. Difficult to regulate this on the college level but the degree most of these guys get is a joke, lower grades etc, at least make it obligatory a full semester of some sort of economics for life class. When it comes to combine, make it another round of lectures for that selected group of players. And finally they should put something in the CBA about this, if there isn't already.

Its baffling more high schools and colleges don't teach basic Money 101 type classes.

What is interest?
How do you buy a car?
What are heath care costs? When should I think about setting money aside for assisted living expenses?
What is a mortgage? Why refinance? Why do I get these letters in the mail every 6 months telling me my note has been transferred?
What is a 401k?
What is the difference vs whole v term life insurance? When is one more appropriate than the other?
What goes in a last will and testament? What are my beneficiary's tax implications? How do I reduce them?

Financial life is hard for just regular dudes like us. I can't even fathom what it is like when they have 455 people trying to burn a hole in their wallet.

 

[1960Pats]

I remember the first time that I met my future father in law. It was a Sunday and he was parked in front of the TV watching the stock prices roll across the screen. He asked me if I wanted to watch football and I said sure, if he didn't mind. That's when he started asking me questions and I had to explain everything to him. He never became a football fan.

 

[mosslost]

Something tells me he's not retiring until he absolutely can't get a job anymore.

 

[Patsfanin Philly]

I remember the first time that I met my future father in law. It was a Sunday and he was parked in front of the TV watching the stock prices roll across the screen. .

On a Sunday??? What market was open on Sunday????

 

[XLIX]

On a Sunday??? What market was open on Sunday????

The, uh, Las Vegas Sporting Events Exchange is open on Sundays.

 

[Triumph]

Its baffling more high schools and colleges don't teach basic Money 101 type classes.

What is interest?
How do you buy a car?
What are heath care costs? When should I think about setting money aside for assisted living expenses?
What is a mortgage? Why refinance? Why do I get these letters in the mail every 6 months telling me my note has been transferred?
What is a 401k?
What is the difference vs whole v term life insurance? When is one more appropriate than the other?
What goes in a last will and testament? What are my beneficiary's tax implications? How do I reduce them?

Financial life is hard for just regular dudes like us. I can't even fathom what it is like when they have 455 people trying to burn a hole in their wallet.

What is bankruptcy
What is a condom
What happens when you breach a contract
What if I can't play football when I am 50
What does an eviction notice look like
Why do County Sheriffs knock on front doors at 3:00 in tbe morning to serve papers
What if Mercedes comes out with a new model but I already have 5 other Mercedes

 

[SEA_Pat]

With that said, if you spend money on drugs, booze, and women, then you are stupid...

... to have wasted the rest.

 

[Clonamery]

Its baffling more high schools and colleges don't teach basic Money 101 type classes.

What is interest?
How do you buy a car?
What are heath care costs? When should I think about setting money aside for assisted living expenses?
What is a mortgage? Why refinance? Why do I get these letters in the mail every 6 months telling me my note has been transferred?
What is a 401k?
What is the difference vs whole v term life insurance? When is one more appropriate than the other?
What goes in a last will and testament? What are my beneficiary's tax implications? How do I reduce them?

Financial life is hard for just regular dudes like us. I can't even fathom what it is like when they have 455 people trying to burn a hole in their wallet.

I had an economics class (elective) as a junior in high school (Nashua) that taught all the basics including how to do your taxes. Probably the best class I took.

 

[RobertWeathers]

I had an economics class (elective) as a junior in high school (Nashua) that taught all the basics including how to do your taxes. Probably the best class I took.

I also went to HS in NH and iirc (30 years ago) taught some level of personal banking/finance but not a 10th of what people need to know.

 

[Clonamery]

I also went to HS in NH and iirc (30 years ago) taught some level of personal banking/finance but not a 10th of what people need to know.

True. Something was better than nothing though.

 

[RobertWeathers]

True. Something was better than nothing though.

Agree.

 

[Triumph]

I also went to HS in NH and iirc (30 years ago) taught some level of personal banking/finance but not a 10th of what people need to know.

Where in NH?

 

[RobertWeathers]

Where in NH?

The one and only epicenter of culture and diversity also known as Kingston, NH where we have 2 pizza places and 2 gun shops.

 

[203Pat]

I feel so sorry for him. Apparently AP had an extravagant 30th birthday party. He paid for 320 people’s first class plane tickets and hotel rooms. He had a throne built and a giant humidor and a bunch of strippers. He topped it all off by announcing he was having his 8th kid.


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