$25 Million of Tim Duncan's money stolen by ex-financial adviser

[oarabbus]

http://blog.mysanantonio.com/spursnation/2015/06/17/report-pegs-duncans-loss-at-25-million/#33752101=0


This dude is the calmest mf both on the court and off barely seems upset :biggums:

[NumberSix]

Why do people need financial advisors?

[jzek]

Why do people need financial advisors?

Because otherwise they'd buy 100 mansions, 500 cars, and give 100K to anyone that asks. They help athletes put their money to good use by investing, buying businesses, etc. so they don't go broke after retiring.

[avonbarksdale]

Why do people need financial advisors?


you really can't figure out why?

[BasedTom]

Because otherwise they'd buy 100 mansions, 500 cars, and give 100K to anyone that asks. They help athletes put their money to good use by investing, buying businesses, etc. so they don't go broke after retiring.
But it doesn't always seem to work out that way, now does it?

[Harison]

Reminds me how Pippen lost his money. Its wise to invest money instead of just spending it or keeping in bank, but at the same time gold diggers (of all kinds) will try to get their grubs on cash.

[avonbarksdale]

But it doesn't always seem to work out that way, now does it?


no, because they have financial advisors

[Soundwave]

Even assuming taxes, the wifey getting $40 mill or so in the divorce settlement,
and this $25 mill gone, he should still be left with in the neighbourhood of $70 mill+ with another $6 million (post tax) coming him way from his salary next year ($10 mill).

That also doesn't count his money from endorsements over the years, and while he's not Jordan/Kobe/LeBron/Shaq in marketing, he probably still has racked up $10+ million from various shoe deals over his career.

Pretty sh*tty to lose that much money, but like he said, he's still doing very well.

Pippen was much worse.

[Straight_Ballin]

AI made over $200 million and is broke as a joke.

[rmt]

Even assuming taxes, the wifey getting $40 mill or so in the divorce settlement,
and this $25 mill gone, he should still be left with in the neighbourhood of $70 mill+ with another $6 million (post tax) coming him way from his salary next year ($10 mill).

That also doesn't count his money from endorsements over the years, and while he's not Jordan/Kobe/LeBron/Shaq in marketing, he probably still has racked up $10+ million from various shoe deals over his career.

Pretty sh*tty to lose that much money, but like he said, he's still doing very well.

Pippen was much worse.

Duncan had a pre-nuptial (unlike Kobe and Vanessa). Can't be too careful in a community property state like TX - even living together probably entitles you to half.