BREAKING NEWS: Allen Iverson broke. Bank accounts siezed

[kennethgriffin]

http://www.thepostgame.com/blog/dish/201202/allen-iverson-has-no-answer-financial-woes

says he has less than 800k left

not earning a paycheck right now

:facepalm

http://i200.photobucket.com/albums/aa280/cashforcards/frewgfgrg.png

[CLTHornets4eva]

Sad.

But the man drove a Lambo as recently as a year ago. Hope him the best but with that ego, and no work ethic, he's all but done in the association.

[ChrisPosh]

http://24.media.tumblr.com/tumblr_lmj8zuoMtp1qii6tmo1_500.gif

[KB2009Champ]

is that a legit site?

[Faptastrophe]

If I owned a sports franchise, I would require all players to go to a team-sponsored financial adviser for two years. After the two years, players would be able to pick their own financial adviser.
A lot of players going into the NBA have never seen a paycheck in their life... suddenly they're making millions of dollars. Many of them are coming out of the hood too. It's silly to expect them to have the financial responsibility and what we would call common sense to manage their money properly.


Do you think they'd pay him to practice?

[inclinerator]

he can live on 800k and work at mcdonalds

[Jasper]

http://www.thepostgame.com/blog/dish/201202/allen-iverson-has-no-answer-financial-woes

says he has less than 800k left

not earning a paycheck right now

:facepalm

http://i200.photobucket.com/albums/aa280/cashforcards/frewgfgrg.png
Destination : light featherweight :confusedshrug:

[RoseCity07]

How is that possible? On top of the millions he made in the NBA I think Rebook paid him like 50 million.

[bmulls]

How is that possible? On top of the millions he made in the NBA I think Rebook paid him like 50 million.

Really...give me 50 million and me, my entire family and my grandkids and their families can live comfortably for the rest of their lives

[OriginalNameGuy]

Better take that LA deal if its still on the table. Probably got too much pride for that though

[CLTHornets4eva]

How is that possible? On top of the millions he made in the NBA I think Rebook paid him like 50 million.

For starters 35% taxes. 10% lawyers 10% agents 15% Mom.

Think they have all the money in the world but really have only a pittance of what they "earn".

Still a lot of money but spend millions and millions on cars and homes plus the biggest entourage in the league.

Great article on espn.com about how athletes way overspend by Duff McKagan.

[RazorBaLade]

800k is BROKE?

Lol wat?

[AngelEyes]

For starters 35% taxes. 10% lawyers 10% agents 15% Mom.

Think they have all the money in the world but really have only a pittance of what they "earn".

Still a lot of money but spend millions and millions on cars and homes plus the biggest entourage in the league.

very well put

[The Iron Fist]

Destination : light featherweight :confusedshrug:
He's most likely a light heavy. Light featherweight is 122 lbs.

[kennethgriffin]

How is that possible? On top of the millions he made in the NBA I think Rebook paid him like 50 million.


probably buys 500k chains like their new pairs of underwear

the reason guys who win the lottery end up broke 3 out of 4 times on average is because they were never meant to be rich in the first place.

its why smart athletes get other people to handle their money...

i wouldnt be surprised if iverson was in charge of his own finances and continually overspent on things.. like cars, house's and jewelry

he probably made 400 mill in his life. but instead of retiring and saving. he probably still spent like he was making 50 mill a year


this happens to allot of athletes like iverson.

just look at him

hes a thug... thugs are retarded people 99 times out of 100



800k is BROKE?

Lol wat?


that might be enough for his next tax payment... after that then what?

and it said he didnt have 800K

they seized his accounts because he couldnt cover it. meaning he has less than that. which means he might have anywhere from 5 dollars to 500 dollars to 500 thousand dollars

[Dictator]

:oldlol: :roll:

http://assets.nydailynews.com/polopoly_fs/1.76435.1313833716!/img/httpImage/image.jpg_gen/derivatives/landscape_630/image.jpg

[comerb]

Must be a nice life to live when having 800k is considered broke.

[Rowe]

How is that possible? On top of the millions he made in the NBA I think Rebook paid him like 50 million.
He not broke.

He also has a lifetime contract with Reebok he signed in 1999, much like the one Derrick Rose signed with Adidas last year.

If Iverson was broke, he wouldn't have been able to pay his taxes, and it would've made national news regarding his bakruptcy as he sold off his assets.

The article mentioning Iverson being "broke" is an opinion column written by Bill Lyon, a former Philadelphia Enquirer writer who is a devout Iverson hater. He presumes Iverson is "broke" because Iverson has refused to pay back this jewelry company seeking money from him.

[The Iron Fist]

He not broke.

He also has a lifetime contract with Reebok he signed in 1999, much like the one Derrick Rose signed with Adidas last year.

If Iverson was broke, he wouldn't have been able to pay his taxes, and it would've made national news regarding his bakruptcy as he sold off his assets.

The article mentioning Iverson being "broke" is an opinion column written by Bill Lyon, a former Philadelphia Enquirer writer who is a devout Iverson hater. He presumes Iverson is "broke" because Iverson has refused to pay back this jewelry company seeking money from him.
He's broke.

[Rowe]

that might be enough for his next tax payment... after that then what?

and it said he didnt have 800K

they seized his accounts because he couldnt cover it. meaning he has less than that. which means he might have anywhere from 5 dollars to 500 dollars to 500 thousand dollars
Wrong.

You're quoting a blog, who quoted an opinion article on Iverson.

Shows how much you know you stupid mother****er if Iverson didnt have 800K in his bank account they couldn't garnish his wages. He'd have filed for bankruptcy protection and this would've been done several years ago before his creditors came after him reporting for him not making payments.

Iverson got this lawsuit in the midst of a season in which he made $20 Million.

Fact of the matter is hes refused to pay his bill, and the judge is going to make him pay it.

[CLTHornets4eva]

He not broke.

He also has a lifetime contract with Reebok he signed in 1999, much like the one Derrick Rose signed with Adidas last year.

If Iverson was broke, he wouldn't have been able to pay his taxes, and it would've made national news regarding his bakruptcy as he sold off his assets.

The article mentioning Iverson being "broke" is an opinion column written by Bill Lyon, a former Philadelphia Enquirer writer who is a devout Iverson hater. He presumes Iverson is "broke" because Iverson has refused to pay back this jewelry company seeking money from him.

I don't think he's dead broke. His Georgia acct is just frozen. A frozen acct doesnt mean there's no money in it, in fact the opposite. I know he still has a ballin house in Buckhead Atlanta.

[NoGunzJustSkillz]

Must be a nice life to live when having 800k is considered broke.
Ish can't possibly be this stupid :facepalm

[Rowe]

He's broke.
Does he have $150 Million in the bank? No.

However he is far from being "broke".

He's been sued so many times throughout his career its not even funny, the guy simply doesn't want to give money to anyone in a civil suit.

This is a man who told a police officer last year to "take his Lambo" because he's got "10 more" all because he didn't pay parking tickets.

[NoGunzJustSkillz]

He not broke.

He also has a lifetime contract with Reebok he signed in 1999, much like the one Derrick Rose signed with Adidas last year.

If Iverson was broke, he wouldn't have been able to pay his taxes, and it would've made national news regarding his bakruptcy as he sold off his assets.

The article mentioning Iverson being "broke" is an opinion column written by Bill Lyon, a former Philadelphia Enquirer writer who is a devout Iverson hater. He presumes Iverson is "broke" because Iverson has refused to pay back this jewelry company seeking money from him.
Let's be real...I doubt Iverson is getting more than a million dollars a year from reebok now-a-days. Does Reebok even make Iverson's apparel line anymore?!?!

[Draz]

Iverson. I wish things got better for him. One of my idols growing up. I remember buying his shoes back in the 4th grade <3

[yanix]

http://www.sportskeeda.com/wp-content/uploads/2011/07/1allen-iverson-baggage-1024x612.jpg

[Poodle]

i swear all rich people seem to abuse the hell out of bankruptcy. i bet he has a ton of cash laying around, and he has to have all of that jewelry he bought, including his toys.

i didn't know AI had the biggest entourage, i thought that was KG...

and i wonder how many baby mama's AI has. thats when they all pretend to be broke.

[NoGunzJustSkillz]

i swear all rich people seem to abuse the hell out of bankruptcy. i bet he has a ton of cash laying around, and he has to have all of that jewelry he bought, including his toys.

i didn't know AI had the biggest entourage, i thought that was KG...

and i wonder how many baby mama's AI has. thats when they all pretend to be broke.
i didnt even know kg had an entourage.

[socomberetta]

If this is true then thats pretty sad.

Is this a situation where people he trusted with his money squandered it with bad investments and/or stealing from him or was Allen just really irresponsible?

[Rowe]

I don't think he's dead broke. His Georgia acct is just frozen. A frozen acct doesnt mean there's no money in it, in fact the opposite. I know he still has a ballin house in Buckhead Atlanta.
Exactly.

People have been saying Iverson was "going to be broke" or "dead" for the last 10 years due to his personality. People have been painting the tragedy they wanted to see occur even at his peak of stardom. Now suddenly they see a story of him trying to resurrect his basketball career and a random story of him owing money for jewelry he bought years ago and think once again that hes "broke".

He turns down a contract extension from Denver - Hes broke
He quits the Pistons and stories come about his casino gambling - Hes broke
He signs with the Grizzlies for $3 Million - Hes broke
He retires and returns to the 76ers for $1 Million - Hes broke
He signs in Turkey for $2 Million - Hes broke

Every single thing he does is somebody claiming how Iverson is broke.

:facepalm

Im sure he blew a lot of his money, but he still has good money left in the bank or else he'd have filed bankruptcy years ago.

Can you imagine the house payments he has to make?
Can you imagine the car payments he has to make?
Child support?
Taxes?

So hes paying all of these bills monthly/yearly, but because he refuses to pay for jewelry or pay that man who he had his bodygard assault him now suddenly hes dead "broke"?

Save me from the BS.

[Bosnian Sajo]

For starters 35% taxes. 10% lawyers 10% agents 15% Mom.

Think they have all the money in the world but really have only a pittance of what they "earn".

Still a lot of money but spend millions and millions on cars and homes plus the biggest entourage in the league.

Great article on espn.com about how athletes way overspend by Duff McKagan.

For starters if you cant figure out how to live comfortably for the rest of your life off of just (just lol) 1 million dollars, you are a MORON. These guys are so dumb...

[NoGunzJustSkillz]

Exactly.

People have been saying Iverson was "going to be broke" or "dead" for the last 10 years due to his personality. People have been painting the tragedy they wanted to see occur even at his peak of stardom. Now suddenly they see a story of him trying to resurrect his basketball career and a random story of him owing money for jewelry he bought years ago and think once again that hes "broke".

He turns down a contract extension from Denver - Hes broke
He quits the Pistons and stories come about his casino gambling - Hes broke
He signs with the Grizzlies for $3 Million - Hes broke
He retires and returns to the 76ers for $1 Million - Hes broke
He signs in Turkey for $2 Million - Hes broke

Every single thing he does is somebody claiming how Iverson is broke.

:facepalm

Im sure he blew a lot of his money, but he still has good money left in the bank or else he'd have filed bankruptcy years ago.

Can you imagine the house payments he has to make?
Can you imagine the car payments he has to make?
Child support?
Taxes?

So hes paying all of these bills monthly/yearly, but because he refuses to pay for jewelry or pay that man who he had his bodygard assault him now suddenly hes dead "broke"?

Save me from the BS.
save yourself from the bs and stop opening the thread.

[NoGunzJustSkillz]

For starters if you cant figure out how to live comfortably for the rest of your life off of just (just lol) 1 million dollars, you are a MORON. These guys are so dumb...
If you think you can live comfortably off of 1 million dollars for the rest of your life, you my friend are the moron.

[Rowe]

Let's be real...I doubt Iverson is getting more than a million dollars a year from reebok now-a-days. Does Reebok even make Iverson's apparel line anymore?!?!

They haven't made any new models of the AI shoe.

He could've had it in his endorsement/marketing deal for his earnings to be spread about throughout his life, considering his AI line was probably 2nd only to Jordan in popularity for about a 5-7 year stretch I'm sure he profited a lot.

[Rowe]

save yourself from the bs and stop opening the thread.
Its only because I refuse to discuss Jeremy Lin tonight.

[NoGunzJustSkillz]

Its only because I refuse to discuss Jeremy Lin tonight.
sick of it dude. seriously, 10-15 threads every night for Lin. And they wonder why the site crashes.

[NoGunzJustSkillz]

They haven't made any new models of the AI shoe.

He could've had it in his endorsement/marketing deal for his earnings to be spread about throughout his life, considering his AI line was probably 2nd only to Jordan in popularity for about a 5-7 year stretch I'm sure he profited a lot.
Whatever it is, he def ain't getting $5 million a year like it's being speculated on this site. I'd be surprised if he is getting any new income from reebok considering they don't produce Iverson gear anymore and he doesn't play in the NBA anymore. That lifetime contract was based on them 2 factors...and him staying out of trouble.

[Poodle]

For starters if you cant figure out how to live comfortably for the rest of your life off of just (just lol) 1 million dollars, you are a MORON. These guys are so dumb...


yeah this is the bottom line

[Rowe]

If you think you can live comfortably off of 1 million dollars for the rest of your life, you my friend are the moron.
Exactly.

What realistically is there to do with $1 Million to "live comfortably"?

Put it all in the bank and continue living in your 1 bedroom apartment working your minimum wage job? That certainly wouldn't be me.

[Poodle]

If you think you can live comfortably off of 1 million dollars for the rest of your life, you my friend are the moron.


depends, since a lot of people can live comfortably at $40-$50k/year. probably tougher with a family, but thats at least 20+ years of living comfortably. Just have to live somewhat practical.

[kennethgriffin]

Exactly.

What realistically is there to do with $1 Million to "live comfortably"?

Put it all in the bank and continue living in your 1 bedroom apartment working your minimum wage job? That certainly wouldn't be me.

thats if you're retarded and dont know how to invest that 1 million dollars into buying and renting out those 1 bedroom apartments all over town so you can retire and live in a huge 4 bedroom house with 3 cars and never work again


:facepalm

honestly...

give any smart person 1 mill and theyel make it last a lifetime with smart investments

[NoGunzJustSkillz]

depends, since a lot of people can live comfortably at $40-$50k/year. probably tougher with a family, but thats at least 20+ years of living comfortably. Just have to live somewhat practical.
You'd have to have a very strict budget and having a strict budget doesn't sound very comfortable.

[Poodle]

Exactly.

What realistically is there to do with $1 Million to "live comfortably"?

Put it all in the bank and continue living in your 1 bedroom apartment working your minimum wage job? That certainly wouldn't be me.


travel the world...

bank works too, and supplementing income off of interest.

regardless, it makes it so that you don't really have to work if you can live practically.

[zay_24]

Iverson. I wish things got better for him. One of my idols growing up. I remember buying his shoes back in the 4th grade <3
nigggga did you just put a heart:wtf:

[The_Yearning]

You'd have to have a very strict budget and having a strict budget doesn't sound very comfortable.

How old are you?

[NoGunzJustSkillz]

thats if you're retarded and dont know how to invest that 1 million dollars into buying and renting out those 1 bedroom apartments all over town so you can retire and live in a huge 4 bedroom house with 3 cars and never work again


:facepalm

honestly...

give any smart person 1 mill and theyel make it last a lifetime with smart investments
You make it sound oh so easy. If you have a million dollars and plan on investing 80 percent of it, you have like zero margin for error.

[NoGunzJustSkillz]

How old are you?
Old enough to know I'm not living comfortably off 1 million dollars for the next 50 years.

[ILLsmak]

http://www.thepostgame.com/blog/dish/201202/allen-iverson-has-no-answer-financial-woes

says he has less than 800k left

not earning a paycheck right now

:facepalm

http://i200.photobucket.com/albums/aa280/cashforcards/frewgfgrg.png

I don't think AI gets enough credit for being swoll as ****.

Dude's got 6 packs in his armpits haha.

-Smak

[magnax1]

Exactly.

What realistically is there to do with $1 Million to "live comfortably"?

Put it all in the bank and continue living in your 1 bedroom apartment working your minimum wage job? That certainly wouldn't be me.
That's 25k a year if he lives another 40 years. That's plenty to live comfortably with. Plus he probably has a ton of shit he could sell.
Beyond all that, I don't really think this is a credible source.

[NoGunzJustSkillz]

That's 25k a year if he lives another 40 years. That's plenty to live comfortably with. Plus he probably has a ton of shit he could sell.
Beyond all that, I don't really think this is a credible source.
he has kids and will have child support and alimony...lol @ iverson living comfortably off 25k a year..

[Rowe]

Whatever it is, he def ain't getting $5 million a year like it's being speculated on this site. I'd be surprised if he is getting any new income from reebok considering they don't produce Iverson gear anymore and he doesn't play in the NBA anymore. That lifetime contract was based on them 2 factors...and him staying out of trouble.
I'm sure hes not making more than $1 Million per year

I dont really know what AI is doing with his life now because he's purposely kept himself out of the public eye, although he could make good money on appearances, a book, or even playing in China.

Just cant escape controversy no matter what he does.

[kennethgriffin]

You make it sound oh so easy. If you have a million dollars and plan on investing 80 percent of it, you have like zero margin for error.


:roll:

are you insane?

you could buy a 3 apartment house ( 1 main and 2 basement ) for 200k where i live ( ottawa )

charge 900$ each and make it all included

collect 2700$ a month from the people renting it out

pay the tax and hydro/water ( 700$ a month )

walk away with an easy 2000$ in your pocket clear every month


do this 5 times over and thats 10 grand a month in your pocket

thats 120k a year and all you have to do is call a plumber when theres a clog in someones drain... or an electrition if someones lights dont work

sit on your a** and dont do sh*t ... and make as much money as a doctor

[Rowe]

That's 25k a year if he lives another 40 years. That's plenty to live comfortably with. Plus he probably has a ton of shit he could sell.
Beyond all that, I don't really think this is a credible source.

Are you kidding me?

People living comfortably making 25K per year?

How old are you?

Thats "comfortable living" for a college student with a part-time job, while living with their parents, and driving a 1993 Camry.

[Rowe]

:roll:

are you insane?

you could buy a 3 apartment house ( 1 main and 2 basement ) for 200k where i live ( ottawa )

charge 900$ each and make it all included

collect 2700$ a month from the people renting it out

pay the tax and hydro/water ( 700$ a month )

walk away with an easy 2000$ in your pocket clear every month


do this 5 times over and thats 10 grand a month in your pocket

thats 120k a year and all you have to do is call a plumber when theres a clog in someones drain... or an electrition if someones lights dont work

sit on your a** and dont do sh*t ... and make as much money as a doctor

So Iverson should move to Canada, buy a cheap flat, and become a landlord to college kids?

Thats genius.

If only Iverson still used Twitter you could contact him and let him know.

[kennethgriffin]

So Iverson should move to Canada, buy a cheap flat, and become a landlord to college kids? Genius.


well i'm pretty sure they have landlords and apartment housing in many areas throughout the united states aswell

its just 1 idea out of thousands on how to turn 1 million dollars into nonstop proffit for the rest of your life

[kennethgriffin]

I don't think AI gets enough credit for being swoll as ****.

Dude's got 6 packs in his armpits haha.

-Smak


those are his ribs :roll:

[Rowe]

travel the world...

bank works too, and supplementing income off of interest.

regardless, it makes it so that you don't really have to work if you can live practically.

You'll still have to work unless you plan to sit on your ass for 10-15 years until the money all dries up. If thats the plan, go for it.

Buy 1 condo
Buy 1 car
Continue living the same lifestyle you're living now, except you dont have to work.

Just resist that temptation that every person gets to live out a dream/fantasy with the money you just acquired.

[Rowe]

well i'm pretty sure they have landlords and apartment housing in many areas throughout the united states aswell

its just 1 idea out of thousands on how to turn 1 million dollars into nonstop proffit for the rest of your life
Nah we dont have "apartment houses" in America structured the way you're describing. Never heard of 2 basements, usually we have just 1 basement.

Using your logic.

- Buy 3 bedroom apartment house for $200K
- Make $2700 per month renting it out to 3 people
- Do it 5 times over?
So Iverson needs to buy 4 more 3 bedroom apartment houses at $200K?

Well damn there goes $1 Million right there.:oldlol:

Lets just hope they pay their rent on time so Iverson doesn't have to go hunting them down in his SUV.

[kennethgriffin]

Nah we dont have "apartment houses" in America structured the way you're describing.

Using your logic.

- Buy 3 bedroom apartment house for $200K
- Make $2700 per month renting it
- Do it 5 times over?
So Iverson needs to buy 4 more 3 bedroom apartment houses?

Well damn there goes $1 Million right there.:oldlol:


thats the point... spend money to make money... morons like you and allen iverson cant grasp this idea

and lol@ the united states not having suburban apartments


if you live in a 3 bedroom house and assume only apartments are in big citys where theyre stacked 20 levels high in giant buildings... sorry

the house 3 doors down from you could be an apartment where 3 people share the house

theyre quite comon

[NoGunzJustSkillz]

thats the point... spend money to make money... morons like you and allen iverson cant grasp this idea

and lol@ the united states not having suberban apartments


if you live in a 3 bedroom house and assume only apartments are in big citys where theyre stacked 20 levels high in giant buildings... sorry

the house 3 doors down from you could be an apartment where 3 people share the house

theyre quite comon
yeah, they're called halfway houses round my way :D

[305Baller]

Iverson who??

http://i200.photobucket.com/albums/aa280/cashforcards/frewgrewgrewgrewgfrewg.png

[get these NETS]

read the full T.O. gq article

he had real estate all over the country..housing market collapsed and it was harder to sell rent out the properties.... and definitely for less than what the projections were....

He made what is usually thought of as sound investment..and it didn't turn out as intended

[magnax1]

Are you kidding me?

People living comfortably making 25K per year?

How old are you?

Thats "comfortable living" for a college student with a part-time job, while living with their parents, and driving a 1993 Camry.
What the **** is comfortable then? I never said he'd be rich, but making 25k a year while not doing a single thing is definitely more then enough to live off of. That's a couple thousand less then the average American income after taxes.

[NoGunzJustSkillz]

Also the only people willing to share a house with 2 other people have to be really desperate. You're sharing the living room, kitchen and bathroom with these folks? Situation can get really dicey when you have 3 total strangers sharing a house. Seriously you say charge them $900 each a month? They are better off getting an apartment for 1...

[CLTHornets4eva]

You understand 25k/ year is only a couple thousand over the poverty line of 21k. Average poster living right above poverty line for the rest of their lives.:lol

AI living just above the poverty line.:roll: :roll: :applause: :hammerhead: :roll:

[NoGunzJustSkillz]

What the **** is comfortable then? I never said he'd be rich, but making 25k a year while not doing a single thing is definitely more then enough to live off of. That's a couple thousand less then the average American income after taxes.
Living off $25k a year is just getting by imo. there is a huge difference between living comfortably and just getting by.

[boozehound]

http://www.thepostgame.com/blog/dish/201202/allen-iverson-has-no-answer-financial-woes

says he has less than 800k left

not earning a paycheck right now

:facepalm

http://i200.photobucket.com/albums/aa280/cashforcards/frewgfgrg.png
800k
or the equivalent of 50k per year for 16 years? So, basically, despite blowing through millions on bling, houses for hoes and whatever else he threw his cash at, he still has as much money in his bank account as the average (above average) salaried employee in the US would make over 16 years? Whah!

[magnax1]

You understand 25k/ year is only a couple thousand over the poverty line of 21k. Average poster living right above poverty line for the rest of their lives.:lol

AI living just above the poverty line.:roll: :roll: :applause: :hammerhead: :roll:
Well first off, the American poverty line is ridiculous. 21k is more then like 90% of the people in the world make.
Secondly, I think you're forgetting the part where he makes that money while sitting on his ass doing nothing....

[BurningHammer]

Well, he let his "friends" who, some are not really friends, suck his pocket dry.

We will see if Iverson's good karma will be as good.

[NoGunzJustSkillz]

Well first off, the American poverty line is ridiculous. 21k is more then like 90% of the people in the world make.
Secondly, I think you're forgetting the part where he makes that money while sitting on his ass doing nothing....
cost of living in america is ridiculous.

[magnax1]

cost of living in america is ridiculous.
Depends on where you live. You can buy a house for less then 50k where I live. Of course, it wouldn't really be a nice house, and nobody wants to live here, and for good reason lol. Once you have housing completely paid for, the cost of living isn't really that much in bare bones terms.

[worldbefree]

cost of living in america is ridiculous.

sure is. if your buying millions of dollars worth of jewelry, cars, etc.

plus the govt takes their cut. if iverson was smart he would have invested and make dat dere capital gains money which is not taxed.

give me 1 million and i can live off that for life.

[NoGunzJustSkillz]

Depends on where you live. You can buy a house for less then 50k where I live. Of course, it wouldn't really be a nice house, and nobody wants to live here, and for good reason lol. Once you have housing completely paid for, the cost of living isn't really that much in bare bones terms.
lol i can probably buy a crib in camden, nj (20 mins away) for like 10k. besides that, you're not finding anything under 100k.

[Kblaze8855]

I don't think he's dead broke.


Yea...people like AI? I dont buy the usual reports of them being broke. They arent broke like....ISH posters go broke. They go broke relative to what they have earned. People were saying Scottie Pippen was broke and he was still in a house that costs 10 lifetimes and got a 2 million dollar settlement from some lawyer who had screwed him over on a Gulf stream jet purchase of some kind.....

If AI bought 800 thousand in whatever....he likely still has a lot of it. hes made 22 million dollars just in NBA salary since 2008. Not counting his europe money and whatever he can make just off appearing places.

Do you know how much money AI could make by calling a club and agreeing to "host" a party? how much he could get by swallowing his pride and signing somewhere shitty? His name alone justifies more money in a year than many make in a lifetime. Jr smith got 3 million in china.

Ai could call a charity game in philly and donate half the gate...keep the rest....and make enough to get by for a good while.

Guys like AI dont generally go....broke broke.

[Rowe]

Yea...people like AI? I dont buy the usual reports of them being broke. They arent broke like....ISH posters go broke. They go broke relative to what they have earned. People were saying Scottie Pippen was broke and he was still in a house that costs 10 lifetimes and got a 2 million dollar settlement from some lawyer who had screwed him over on a Gulf stream jet purchase of some kind.....

If AI bought 800 thousand in whatever....he likely still has a lot of it. hes made 22 million dollars just in NBA salary since 2008. Not counting his europe money and whatever he can make just off appearing places.

Do you know how much money AI could make by calling a club and agreeing to "host" a party? how much he could get by swallowing his pride and signing somewhere shitty? His name alone justifies more money in a year than many make in a lifetime. Jr smith got 3 million in china.

Ai could call a charity game in philly and donate half the gate...keep the rest....and make enough to get by for a good while.

Guys like AI dont generally go....broke broke.

Im pretty sure he hosted one of those exact charity games during the lockout. :oldlol:

I remember seeing a news story of AI throwing his own charity game for his foundation.

[magnax1]

lol i can probably buy a crib in camden, nj (20 mins away) for like 10k. besides that, you're not finding anything under 100k.
Yeah, there are houses here for 10k (probably less actually) but I meant like a reasonable house for 50k. The average house in Omaha only costs like 80k or something. I only really know what houses cost in Salt Lake, Seattle and Omaha, so maybe Omaha is sort of normal, but it's way cheaper the SLC and Seattle, and 25k would be easy to live off of here. Of course, living here is cheap for a reason. Everyone wants out lol.

[NoGunzJustSkillz]

Yeah, there are houses here for 10k (probably less actually) but I meant like a reasonable house for 50k. The average house in Omaha only costs like 80k or something. I only really know what houses cost in Salt Lake, Seattle and Omaha, so maybe Omaha is sort of normal, but it's way cheaper the SLC and Seattle, and 25k would be easy to live off of here. Of course, living here is cheap for a reason. Everyone wants out lol.
sh!t ya...my favorite cousin moved to Hemingford, Nebraska and she told me rent was dirt cheap out there. She said only jobs are working on the train tracks tho.

[Rowe]

Well first off, the American poverty line is ridiculous. 21k is more then like 90% of the people in the world make.
Secondly, I think you're forgetting the part where he makes that money while sitting on his ass doing nothing....

Yes, but they live in huts or cottages and live off of the land.

& the American poverty line is nowhere near accurate for many places in this country where the cost of living is so high. There is a reason why so many "midde class" people are reduced to living in Section 8 living arrangements. There is a reason why like 100K+ people are living in project buildings in New York City because even a dumpy 1 bedroom apartment with roaches costs $1500+ per month.

Yeah, 25K per year might be enough to "get by" in somewhere like Euroleague's hometown in Arkansas, but elsewhere 25K is enough to make you poor and in need of government assistance to even live there.

[magnax1]

Yes, but they live in huts or cottages and live off of the land.

& the American poverty line is nowhere near accurate for many places in this country where the cost of living is so high. There is a reason why so many "midde class" people are reduced to living in Section 8 living arrangements. There is a reason why like 100K+ people are living in project buildings in New York City because even a dumpy 1 bedroom apartment with roaches costs $1500+ per month.

Yeah, 25K per year might be enough to "get by" in somewhere like Euroleague's hometown in Arkansas, but elsewhere 25K is enough to make you poor and in need of government assistance to even live there.
Did you just try and tell me that people making 100k are living in projects? You're just trying way to hard... Even after taxes 100k is probably 5k a month.

[chairman]

:facepalm Smh at all you fools who think they can live comfortably on 25k a year. Factor in property taxes take 1/5 of that 25k alone. Plus Electric and heating bills all sorts of bills every month. 25k is a years worth of property taxes in my neighborhood

[EricForman]

Exactly.

What realistically is there to do with $1 Million to "live comfortably"?

Put it all in the bank and continue living in your 1 bedroom apartment working your minimum wage job? That certainly wouldn't be me.

It wouldn't be a luxurious lifestyle, but to say living in a 1 bedroom apartment and working a normal 9 to 5 with 1 mil in the bank (meaning, if you live like a normal average American, you wouldn't be short on cash for at least 20 some years) means really lowly living is ridiculous.

I mean, I dunno, maybe you came from a rich background and have lived lavishly your whole life, but there are millions of American adults who live off 2000 or 2500 a month (with not much in the bank) and they're not exactly dying or starving or miserable with life and all that. Sure they wish they had more money but it's not like life is unbearable for them.

[Bigsmoke]

Dude is a vanity slave

[Smoke117]

awww...:roll: :roll: :roll:

[JustinJDW]

You'd have to be pretty stupid if someone handed you a million dollars and you couldn't figure out what to do with it to live comfortably for the rest of your life. Its called investing people. Millions of people do it every day.

If you guys ever make it in the NBA, here's a tip, hire a good financial adviser and a couple of stock market geniuses that get a percentage of what they make for you. Or shit, follow Caron Butler. That cat bought six Burger Kings and is now taking Business Management classes a Duke. Homeboy ain't dumb. He'll be set when he walks away from the game.

"BAH, WHAT AM I SUPPOSED TO DO WITH A MILLION DOLLARS!?!"

[kumquat]

You make it sound oh so easy. If you have a million dollars and plan on investing 80 percent of it, you have like zero margin for error.

1million dollars on 5% interest is $50 grand a year minus taxes. How is that not easy, get a job doing something you like in between. You would have to be Iverson stupid to screw that up.

[talkingconch]

terrible decisions

i just cant understand it. made millions in the nba over the years, now only left with 800k? Wow. Just hope he gets back up on his feet soon.

damn, give me a chance at millions, hell the kids of my kids wont have to worry about their financial future


You'd have to be pretty stupid if someone handed you a million dollars and you couldn't figure out what to do with it to live comfortably for the rest of your life. Its called investing people. Millions of people do it every day.

If you guys ever make it in the NBA, here's a tip, hire a good financial adviser and a couple of stock market geniuses that get a percentage of what they make for you. Or shit, follow Caron Butler. That cat bought six Burger Kings and is now taking Business Management classes a Duke. Homeboy ain't dumb. He'll be set when he walks away from the game.

"BAH, WHAT AM I SUPPOSED TO DO WITH A MILLION DOLLARS!?!"

bingo

[Pinkhearts]

This forum is full of retarded uneducated kids who wouldnt know what to do with a million dollars if they get it. Talk about winning lotteries and growing broke.

Simply invest the million at 5% ROI (which is easily achievable) and you can get 50k a year. That's a pretty damn good living. Just talk to any financial advisor and he can recommend you some funds to get that return.

And just because you don't have to do your shit job doesnt mean u cant make money. You must have some passions in life. Play music and be good enough to perform, and you earn enough to pay for day to day expenses.

[kurple]

800k is BROKE?

Lol wat?
this.

what am i if thats being broke

[dude77]

For starters 35% taxes. 10% lawyers 10% agents 15% Mom.

Think they have all the money in the world but really have only a pittance of what they "earn".

Still a lot of money but spend millions and millions on cars and homes plus the biggest entourage in the league.

Great article on espn.com about how athletes way overspend by Duff McKagan.

if your figures are accurate that leaves him 15 million on top of whatever he's made in the nba .. these guys just don't know how to manage their money .. pissing away that kind of $$$ :facepalm .. I cringe when I hear stories like this

[All Net]

:facepalm

[dude77]

For starters if you cant figure out how to live comfortably for the rest of your life off of just (just lol) 1 million dollars, you are a MORON. These guys are so dumb...

:applause:

[LA_Showtime]

If I owned a sports franchise, I would require all players to go to a team-sponsored financial adviser for two years. After the two years, players would be able to pick their own financial adviser.
A lot of players going into the NBA have never seen a paycheck in their life... suddenly they're making millions of dollars. Many of them are coming out of the hood too. It's silly to expect them to have the financial responsibility and what we would call common sense to manage their money properly.


Do you think they'd pay him to practice?


I hate to say it, but I doubt it would help. The few guys who would actually pay attention to the lectures probably wouldn't have to worry about going broke anyway. I think the overwhelming majority will have the mentality that hey, I'm a professional basketball player and I'm making a boatload of money... I will be fine.

[blablabla]

Dude is a vanity slave
this

[Poodle]

the-whole-million-dollar-thing-has-really-tangented...AI-had-164...x...$1mill..and-blew-it:facepalm

[tomtucker]

http://2.bp.blogspot.com/_Mish-kq8cVI/SgMT88AFKgI/AAAAAAAABKs/sk6L_BNy9f8/s400/haha.jpg

[v1ncelis]

Maybe he can start coaching?

[Smoke117]

don't care. Shit a ***** who made millions wasting it on bullshit and broke? Yawn. It makes me laugh more than anything frankly and i'm NOT WHITE i'm half mexican. You are a dumb ass **** than woe to you.

[NoGunzJustSkillz]

1million dollars on 5% interest is $50 grand a year minus taxes. How is that not easy, get a job doing something you like in between. You would have to be Iverson stupid to screw that up.
yeah i retract my statement about not being able to live comfortably off 1 mill....but the original poster i was responding to made no mention of investments and getting a job on top of having 1 mill...and then the whole entire convo got out of hand..:D