Here in L.A. says former NFL star found homeless and sleeping under freeway overpass. Will give details when I see report.

Give Warren Sapp my regards....

GO DOLPHINS!!!!

He's too big to fit under a freeway.

A lot of them end up broke, it's sad. Their players union really needs to work on some kind of money management educational program, where the players can learn to conserve their limited funds and have the young guys realize the average NFL career is only about 3.5 years.

I have little sympathy for these guys. There are given every privilege, opportunity and break in life from the time they are in high school (or before).

Most are given a free college education. Something most people pay 30-150k to receive.

Why does someone need to tell a college educated person how to mange a budget? Most are only victims of stupidity. The ones that end up homeless most likely have a mental disorder but that's a different story.

I could care less, they as others say given a huge opportunity with tons of cash, sorry but if you cant control your spending making millions....oh well

I disagree Joe, education is not necessarily isolated to the individual in most cases.

These guys are mostly coming from impoverished large families. They rarely have a single person within that family unit that could provide sound financial counseling. If you think the schools care whether these guys get educated on managing funds, well...you should really look again. For the most part these schools treat their athletes, especially their football athletes as a sort of Cattle-commodity. A product that generates revenue for the school, but there is no assignment of any person that helps guide these young guys to be sensible about what they are earning and the result is they mismanage their money--not just on their own expenditures, but on the expenses of their "friends", relatives and "wife."

Think about it, the math. -an average guy starting in 2014 makes at most $420,000 (Year 1), $510,000 (Year 2), $600,000 (Year 3). This is not guaranteed money, they would have to appear on the roster in all 16 games to make that. About 30-40 percent of it is lost to the IRS. Another roughly 40 percent is lost to the wife or girlfriend...maybe 20 percent to the parents or grandparents.

1,500,000 - 40% IRS= 900,000 $

900,000 - 40% the wife who will most likely divorce him = 540,000

540,000 - 300,000 for a house for his parents/family = 240,000

240,000/3 years living expenses, adequate vehicle, personal expenses= Not much money left.

Holy fucknuggets Dilphan1 welcome back!

could you be anymore obvious?

toko34 Wrote:
-------------------------------------------------------
> I disagree Joe, education is not necessarily
> isolated to the individual in most cases.

Huh?

>
> These guys are mostly coming from impoverished
> large families. They rarely have a single person
> within that family unit that could provide sound
> financial counseling. If you think the schools
> care whether these guys get educated on managing
> funds, well...you should really look again. For
> the most part these schools treat their athletes,
> especially their football athletes as a sort of
> Cattle-commodity. A product that generates
> revenue for the school, but there is no assignment
> of any person that helps guide these young guys to
> be sensible about what they are earning and the
> result is they mismanage their money--not just on
> their own expenditures, but on the expenses of
> their "friends", relatives and >
> Think about it, the math. -an average guy starting
> in 2014 makes at most $420,000 (Year 1), $510,000
> (Year 2), $600,000 (Year 3). This is not
> guaranteed money, they would have to appear on the
> roster in all 16 games to make that. About
> 30-40 percent of it is lost to the IRS. Another
> roughly 40 percent is lost to the wife or
> girlfriend...maybe 20 percent to the parents or
> grandparents.
>
> 1,500,000 - 40% IRS= 900,000 $
>
> 900,000 - 40% the wife who will most likely
> divorce him = 540,000
>
> 540,000 - 300,000 for a house for his
> parents/family = 240,000
>
> 240,000/3 years living expenses, adequate vehicle,
> personal expenses= Not much money left.

Again....you can't fix stupid. Like I said if they are dumb enough to go down the road you just laid out then...oh well.

Getting married? Buying two houses for cash? LOL

Sounds like natural selection to me.

toko34 you are correct. The people need an advisor to help them keep track of money, how to manage it.

Banks have departments devoted to the wealthy families to help them retain their money.

Even in well todo privalaged family people squander millions of dollars.

Sounds politically correct dolfin. Really well said and no mistakes in your writing.

sweet! I always worry about grammer. thanks samsam!

Living in a 36,000 SF mansion probably didn't help. I know he has a lot of kids but seriously?

see JoeDKfootball they need you to tell them that!

Too bad good posters like joe football come and go and the D!CKHEAD spammer keeps getting away with it.

I think the greatest problem is that when the players get these millions, they spend millions. They don't look at it like they're in a PHYSICAL sport and the money they make is based on PHYSICAL capabilities that if injury does not destroy even time itself eventually will.

They spend the first day and every day just like the millions will come in every day.

When the money stops, and they have spent it at the same time making it, and there are no savings, then they realize their predicament.

Yes, they need counseling but the first should just be a simple paragraph telling them, upon signing, the same as my first paragraph above.

Not rocket science but just like rock and roll phenoms and most actors, when they get that first big check, somehow there is a mental belief that those checks will never stop.

That's why Roosevelt brought in social security for the rest of us folks.

JoeFootball Wrote:
-------------------------------------------------------
> Living in a 36,000 SF mansion probably didn't
> help. I know he has a lot of kids but seriously?


Danny bought /invested in alot of real estate here in Florida, the 2008 bubble hurt him bad. the Love child didn't help much either. I'm sure the bankruptcy was a business move, not a personal one. hell Donald Trump applied for Bankruptcy over 5 times and he is worth 8 Billion. Corporations go Bankrupt not the people. Its a big part of the problem.

GO DOLPHINS!!!!

And peytons worth every penny lol.