I know a guy, who knows Mike Tyson.
According to him, Mike Tyson isn’t broke, but just laying real low until the IRS loses interest in him.
According to my friend, Mike still has about $10 million.
This article failed to mention the latest casualty of poor use of money — multiple time NBA scoring champ — Alan Iverson. He blew away $154 Million in earnings and now can’t pay his bills.
SEE HERE:
http://www.cbsnews.com/8301-31751_162-57377966-10391697/after-$154m-allen-iverson-may-be-broke/
Truly, wealth is wasted on the undeserving....
If you always spend $3 for every $2 you make, it doesn’t matter how much money you make.
Add Alan Iverson to the list.
Yup. Its far too common.
Many of these athletes were coddled all through school and college (some never cracked a book).
Give a thug millions of dollars and five years after retirement you will have a broke thug!!!No great surprise here.
Besides lavish spending, tales of large entourages of hangers-on and very bad ‘investment’ advice from shady advisers show up in most of these stories.
Well, gee...uh, wow...uh...well, you know what?
I just don't give a rat's ass.
Just like that Houston person...suck it into your lungs, blow it up your nose, shoot it into your veins or just plain throw it down the do-do hole...if you can't manage your money, then you don't deserve it.
Too bad...so sad.
Sad to see Evander Holyfield’s name on that list.
He always seemed to me like one of the good guys
A fool and his money soon part.
Maybe Rodney King can produce a rap song about dat. . .
Some athletes probably would wish that it was JUST their money/fortune that they lost... like Thurman Munson.
Not true for all sports. Those of us in the NHA, National Hopscotch Association, have been very successful at retaining our earnings. We “Hoppers”, as we’re called, don’t fritter our winnings away on fast women and expensive cars. Last year’s champion, Suzie Johnson, tucked her prize money away into a piggy bank. Contrary to popular belief, you don’t have to be from Scotland to play hopscotch. I’m presently serving a four tournament suspension for being drunk at a tournament. I thought the idea was to jump over a bottle of scotch and then take a drink. I guess they changed the rules or something. Probably hometown refs.
Wish DC would figure this out.
This is the first line of the entire story, and yet after that in all the examples not a single NFL football player is used.
If these guys would have lived below their means, even for a while; in a manner of lavishness that the would not even notice as lacking: they would still be in luxury.
Apparently this message was either not delivered or adhered.
Too many baby mammas to feed.
Beyond that, I know of many non-athletes who made it into upper middle class and higher via self employment or corporate ladder climbing only to find themselves 50 and unemployed with kids in college, mortgages to pay and a spouse filing for divorce.
What's all the commotion about?