Originally Posted by Kblaze8855
You look at these deals....
Imagine the first big one. You already have millions just off your rookie deal and possibly a small extension.
You may have 12ish million after taxes and splurging. Then you sign for like 100-150 million.
You already have a house cars and comforts so what now?
How are you not taking the first million a year and putting it into a mutual fund?
Take the second million and buy your kids some stock and land to develop later
Buy some art. You don’t have to appreciate it....hire someone who knows what goes up in value. Buy rental properties by the dozen. Just...something to pay out long term.
Put the 4th million into bitcoin, gold, or whatever else you believe in.
You still have 8-10 more million to **** off after taxes every year.
And these guys go broke. Like....working at Starbucks broke.
There is SO much room to blow it and still be rich....
Watching and reading about the Jimmy Butler and Kawhi Leonard free agencies...as two of the smarter guys who don't strike me as money-wasters, each of them still has an inner circle of 8-10 people that it's kind of understood they'll take care of. Not moochers, just people they're close to and feel comfortable around. They do it because they can and because I'm sure it helps them stay somewhat grounded as a celebrity. So go ahead and multiply what you spend by 10.
Yeah, that's still way more than enough for 10 people to live on, but when you get to fourth cousins coming out of the woodwork for a $20k 'loan'...and a lot of these guys just can't say no...you end up Antoine Walker.
At max contract rates these days, though, there's no excuse. I think it would be impossible for me to spend a max contract without just giving huge chunks away to family or charity.