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Old 12-19-2013, 07:26 AM   #1
StateProperty
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Default MCW: "I'm afraid of going broke"

http://newday.blogs.cnn.com/2013/12/...ving-my-money/

Putting his first 3 years salary in a trust fund. Using endorsement money and mommy money for now. Smart kid.
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Old 12-19-2013, 07:29 AM   #2
Budadiiii
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Default Re: MCW: "I'm afraid of going broke"

Beta.

His sheltered childhood and pushover idiot parents make me hate this kid.

He's not going to be able to stay persistent through tough times and will fizzle out sooner than later. Bust.
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Old 12-19-2013, 08:00 AM   #3
El Kabong
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Default Re: MCW: "I'm afraid of going broke"

Good to see he's being smart. Never know how long your basketball career will last, be wise with your money and with a bit of luck you'll never have to work another straight job again.
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Old 12-19-2013, 08:27 AM   #4
jamal99
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Default Re: MCW: "I'm afraid of going broke"

Does he have any control over his actions?
He could just not spend money like a total idiot and will never go broke...
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Old 12-19-2013, 09:38 AM   #5
wakencdukest
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by jamal99
Does he have any control over his actions?
He could just not spend money like a total idiot and will never go broke...



Sounds like he is controlling his actions.
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Old 12-19-2013, 09:39 AM   #6
Eric Cartman
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Default Re: MCW: "I'm afraid of going broke"

Sixers are happy that their leading guard isn't an idiot for once.
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Old 12-19-2013, 09:41 AM   #7
edrick
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by jamal99
Does he have any control over his actions?
He could just not spend money like a total idiot and will never go broke...

It's very easy to blow through money for some people, especially if you've never had a lot before. So, he is controlling his actions.
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Old 12-19-2013, 09:47 AM   #8
Mr Exlax
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Talking Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by Eric Cartman
Sixers are happy that their leading guard isn't an idiot for once.


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Old 12-19-2013, 12:16 PM   #9
retaxis
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by Budadiiii
Beta.

His sheltered childhood and pushover idiot parents make me hate this kid.

He's not going to be able to stay persistent through tough times and will fizzle out sooner than later. Bust.
Hates a strong word. It normally demonstrates someone either did something personal to you or you have intense issues with confidence and jealousy. I am learning more to the jealousy/sh1t life you have.
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Old 12-19-2013, 12:19 PM   #10
gts
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by jamal99
Does he have any control over his actions?
He could just not spend money like a total idiot and will never go broke...

Obviously he does... He just made a very sound financial decision
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Old 12-19-2013, 12:51 PM   #11
2LeTTeRS
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by jamal99
Does he have any control over his actions?
He could just not spend money like a total idiot and will never go broke...

You do realize this is possibly the wisest financial decision a man in his position can make right? Professional athletes have at best 15 years to earn money to fund themselves for their entire lives; and putting the lion's share of the money he's currently earning in trust is the best way to ensure that does not blow through it.

There is literally no reason to criticize this decision...
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Old 12-19-2013, 12:55 PM   #12
NugzFan
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by 2LeTTeRS
You do realize this is possibly the wisest financial decision a man in his position can make right? Professional athletes have at best 15 years to earn money to fund themselves for their entire lives; and putting the lion's share of the money he's currently earning in trust is the best way to ensure that does not blow through it.

There is literally no reason to criticize this decision...

I think Jamal is saying he should have some control. The trust fund is a great idea but the fact that people can't control spending is pathetic.
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Old 12-19-2013, 12:57 PM   #13
IGOTGAME
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by 2LeTTeRS
You do realize this is possibly the wisest financial decision a man in his position can make right? Professional athletes have at best 15 years to earn money to fund themselves for their entire lives; and putting the lion's share of the money he's currently earning in trust is the best way to ensure that does not blow through it.

There is literally no reason to criticize this decision...

who is managing the trust? hopefully not his parents. but if the money is properly invested then this is by far the best decision. Much better than just keeping it a checking/saving account.

Last edited by IGOTGAME : 12-19-2013 at 12:59 PM.
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Old 12-19-2013, 12:58 PM   #14
kmart
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Default Re: MCW: "I'm afraid of going broke"

A lot of pro athletes go bankrupt upon retirement. Smart move by MCW.
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Old 12-19-2013, 01:11 PM   #15
wakencdukest
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Default Re: MCW: "I'm afraid of going broke"

Quote:
Originally Posted by NugzFan
I think Jamal is saying he should have some control. The trust fund is a great idea but the fact that people can't control spending is pathetic.


A lot of people can control their spending. But young uneducated black men from poor families who become millionaires over night apparently cannot. It's refreshing to see a young player concerned about his financial future instead of spending all his money on stupid shit like cars, jewelry, partying, entourage's, etc.
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