Quote: @Vanguard83 said:
Does the league do anything to guide players in terms of investing / saving / pensions....
or is is "Here's your millions...go buy cars and gold necklaces"
Saw that documentary a couple years ago..large percentage of those rich athletes end up broke.
Sad. These guys are at the height of the athletic spectrum, the best at what they do and paid handsomely.... but don't plan for the future.
No, and the NFLPA can't give two shits about them either. How the players haven't come together and formed some sort of Co-op is beyond me. They take home 49% of the revenue money, yet half of them are going to end up broke.
NCAA doesn't care either, if you can major in Latin or any other pointless degree, then athletes should be able to major in Professional Athlete. So they can lean how to not impregnate to many women. How not to take ridiculous loans before a lockout.
How to use Twitter/Social media.
I don't think it's an athlete thing. I think it's a very young person with a ridiculous amount of money thing. You see the same thing among actors, musicians. I know I wasn't as responsible with money in my 20s as I am now.
Quote: @Bolstad79 said:
@ Vanguard83 said:
Does the league do anything to guide players in terms of investing / saving / pensions....
or is is "Here's your millions...go buy cars and gold necklaces"
Saw that documentary a couple years ago..large percentage of those rich athletes end up broke.
Sad. These guys are at the height of the athletic spectrum, the best at what they do and paid handsomely.... but don't plan for the future.
No, and the NFLPA can't give two shits about them either. How the players haven't come together and formed some sort of Co-op is beyond me. They take home 49% of the revenue money, yet half of them are going to end up broke.
NCAA doesn't care either, if you can major in Latin or any other pointless degree, then athletes should be able to major in Professional Athlete. So they can lean how to not impregnate to many women. How not to take ridiculous loans before a lockout.
How to use Twitter/Social media.
Might as well add how to work a drive through window, and how to stock grocery shelves, to skills that degree imparts on those that chose that major. Considering only a small small % ever make the pros and an even smaller % make major bank....the vast majority would likely end up working in low skill jobs like the others with those worthless degrees like Latin studies, or ancient mesopatamian pottery.
Quote: @StickyBun said:
@ comet52 said:
@ StickyBun said:
@ comet52 said:
@ Tom Moore said:
BTW - none of this mean AP is broke. He may have just elected not to pay back the loan. He didn't forget, as he would have got lots of notices before the lawsuit was filed
What does a guy who's been paid the enormous sums the Vikings have paid him need a loan for? Sorry, not buying it.
Because borrowing money is dirt cheap right now. Its not always in your best interest from a financial aspect to pay for everything in cash, cash you could be using to invest in equities or other vehicles. Its very hard to know why Peterson defaulted on this loan and like has been mentioned, this by no means means AP is broke.
Oh please. It's Adrian Peterson, an ignorant man surrounded by parasites, not Elon Musk looking for his next big opportunity.
I personally would not indulge in rationalizing excuses that some alleged financial acumen of AD's explains how despite being paid nearly 100 million dollars in his career he is now defaulting on loans at the tender age of 32.
That's because you might not know how wealth management works. I'm not commenting on Peterson's financial acumen, it might be horrible. I'm commenting about how people with money many times borrow money for various things because its the better move than laying out cash. I'll wager wealthy people borrow more money than anyone else. Its far from unusual. That was my only point, that just because he got a loan for something, doesn't mean he's broke.
Wealth management, lol. What part of wealth management is the phrase "in default" ? Keep trying to change the subject from AD is going broke to how dumb you think I am but the fact of him failing to pay off his loan remains.
Quote: @comet52 said:
@ StickyBun said:
@ comet52 said:
@ StickyBun said:
@ comet52 said:
@ Tom Moore said:
BTW - none of this mean AP is broke. He may have just elected not to pay back the loan. He didn't forget, as he would have got lots of notices before the lawsuit was filed
What does a guy who's been paid the enormous sums the Vikings have paid him need a loan for? Sorry, not buying it.
Because borrowing money is dirt cheap right now. Its not always in your best interest from a financial aspect to pay for everything in cash, cash you could be using to invest in equities or other vehicles. Its very hard to know why Peterson defaulted on this loan and like has been mentioned, this by no means means AP is broke.
Oh please. It's Adrian Peterson, an ignorant man surrounded by parasites, not Elon Musk looking for his next big opportunity.
I personally would not indulge in rationalizing excuses that some alleged financial acumen of AD's explains how despite being paid nearly 100 million dollars in his career he is now defaulting on loans at the tender age of 32.
That's because you might not know how wealth management works. I'm not commenting on Peterson's financial acumen, it might be horrible. I'm commenting about how people with money many times borrow money for various things because its the better move than laying out cash. I'll wager wealthy people borrow more money than anyone else. Its far from unusual. That was my only point, that just because he got a loan for something, doesn't mean he's broke.
Wealth management, lol. What part of wealth management is the phrase "in default" ? Keep trying to change the subject from AD is going broke to how dumb you think I am but the fact of him failing to pay off his loan remains.
I'd think you'd be shocked to know how many wealthy people have defaulted on loans. I couldn't give a shit about AP and his financial situation. I only commented originally because your premise was that wealthy people shouldn't borrow money....that's where I came in. I'm far from a AP fan boy. But you aren't listening to what I'm saying.
Quote: @Tom Moore said:
This could be any athlete - they don't understand money, and are very willing to walk away from obligations. Personally, if I owe someone money, I can't sleep at night if I don't have a plan to pay it off.
It occurs to me that this fanbase and organization has made nonstop excuses for this guy for years. Even after he's gone it's "Oh, he's not in default, he's "investing" or "athletes are different from us". Yeah, great to learn that.
If Spielman and Zimmer hadn't been so intent on refusing his desire to be traded after his baby-whipping scandal, we'd have probably fleeced Jerry Jones for multiple high draft picks. This organization almost never makes the smart move. In the Wilf era it's driven by nostalgia and fantasies about reality that never play out, and the result is 1 playoff win since Zygmunt took over 12 years ago.
Quote: @Bolstad79 said:
@ Vanguard83 said:
Does the league do anything to guide players in terms of investing / saving / pensions....
or is is "Here's your millions...go buy cars and gold necklaces"
Saw that documentary a couple years ago..large percentage of those rich athletes end up broke.
Sad. These guys are at the height of the athletic spectrum, the best at what they do and paid handsomely.... but don't plan for the future.
No, and the NFLPA can't give two shits about them either. How the players haven't come together and formed some sort of Co-op is beyond me. They take home 49% of the revenue money, yet half of them are going to end up broke.
NCAA doesn't care either, if you can major in Latin or any other pointless degree, then athletes should be able to major in Professional Athlete. So they can lean how to not impregnate to many women. How not to take ridiculous loans before a lockout.
How to use Twitter/Social media.
Sounds like personal responsibility needs to be taken and you are trying to force morals and character on someone. There is only so much these leagues can do when dealing with 20 year old millionaires who all think their careers are going to be the special one that lasts 20 years.
Their are tons of resources for these guys to learn from but they chose to ignore and I am not sure how to prevent that legally. I mean you can almost design the contracts as payouts with half forced into a low risk saving account that payouts starting the year they are no longer playing but you can't force anyone to do anything with their own money once they are an adult.
Quote: @StickyBun said:
@ comet52 said:
@ StickyBun said:
@ comet52 said:
@ StickyBun said:
@ comet52 said:
@ Tom Moore said:
BTW - none of this mean AP is broke. He may have just elected not to pay back the loan. He didn't forget, as he would have got lots of notices before the lawsuit was filed
What does a guy who's been paid the enormous sums the Vikings have paid him need a loan for? Sorry, not buying it.
Because borrowing money is dirt cheap right now. Its not always in your best interest from a financial aspect to pay for everything in cash, cash you could be using to invest in equities or other vehicles. Its very hard to know why Peterson defaulted on this loan and like has been mentioned, this by no means means AP is broke.
Oh please. It's Adrian Peterson, an ignorant man surrounded by parasites, not Elon Musk looking for his next big opportunity.
I personally would not indulge in rationalizing excuses that some alleged financial acumen of AD's explains how despite being paid nearly 100 million dollars in his career he is now defaulting on loans at the tender age of 32.
That's because you might not know how wealth management works. I'm not commenting on Peterson's financial acumen, it might be horrible. I'm commenting about how people with money many times borrow money for various things because its the better move than laying out cash. I'll wager wealthy people borrow more money than anyone else. Its far from unusual. That was my only point, that just because he got a loan for something, doesn't mean he's broke.
Wealth management, lol. What part of wealth management is the phrase "in default" ? Keep trying to change the subject from AD is going broke to how dumb you think I am but the fact of him failing to pay off his loan remains.
I'd think you'd be shocked to know how many wealthy people have defaulted on loans. I couldn't give a shit about AP and his financial situation. I only commented originally because your premise was that wealthy people shouldn't borrow money....that's where I came in. I'm far from a AP fan boy. But you aren't listening to what I'm saying.
My premise has nothing to do with the broad category of "wealthy people" that you seem so eager to condescend to me about and tell me what I don't know. My premise is, Adrian is going to be an old, broke man because he's a fool.
|
