Sprewell Is Broke

[redsk1]

Originally Posted by dmek25

anyone who makes that kind of mega money, and doesn't know how to handle it, deserves whatever they get. anyone really feel sorry for him?

Not really. I just don't understand why you cant sock away a couple million and invest it wisely so it grows to let's say 4 million in 8-10 years. 4 mill @ 6% return= $240k a year in earnings.

It's all about spending though. Money doesn't last forever.

[SmootSmack]

Originally Posted by redsk1

Not really. I just don't understand why you cant sock away a couple million and invest it wisely so it grows to let's say 4 million in 8-10 years. 4 mill @ 6% return= $240k a year in earnings.

It's all about spending though. Money doesn't last forever.

The problem becomes all the money that they dole out not only to their agents, lawyers, business managers, etc. but then it's the house you buy for your parents, the new Bentleys for your teenage siblings, the boat for your cousin's nephew, the "investment" in your high school buddy's new business venture, and so on.

[redsk1]

Originally Posted by SmootSmack

The problem becomes all the money that they dole out not only to their agents, lawyers, business managers, etc. but then it's the house you buy for your parents, the new Bentleys for your teenage siblings, the boat for your cousin's nephew, the "investment" in your high school buddy's new business venture, and so on.

Yeah, it's really unfortunate they don't have someone in their ear that's giving them sound financial advise. I'm sure every NBA player has friends/brothers/cousins/inlaws/ asking for this and that, but you've got to draw the line somewhere. I agree though.