Bar closed. House and possessions being auctioned off this Sat. 11 year MLB career earnings and broke. Bought house for 1.1 mill. Still owed bank 900k. Sad.
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Bar closed. House and possessions being auctioned off this Sat. 11 year MLB career earnings and broke. Sad.
its hard to imagine that someone cant squirrel away a few hundred grand or for some, much more.Yes, it is sad. I don't see how these people piss all that money away.
Dumb investments like his sports bar. Gambling and drinking problems don't help.Yes, it is sad. I don't see how these people piss all that money away.
Dumb investments like his sports bar. Gambling and drinking problems don't help.
Pure stupidity to piss away that kind of cash. They have awareness seminars in NFL, MLB and NBA of stories like his and what not to do. But yet most of these boneheads still buy Mercedes and sports bars and end up bankrupt. No sympathy.I'm a broke mutha. I'm not better than anyone else. But... if I was given that kind of moolah, you can bet that I would set X amount aside for some residual income. Blow the rest if you want, but set yourself up for life first.
Must have a different financial advisor than Joe Burrow.Look, many highly paid athletes cannot accept themselves as wealthy individuals. They find all kinds of ways to separate themselves from their money. They know poverty and gravitate back there. It’s really a shame.
He should have his pension at least.its hard to imagine that someone cant squirrel away a few hundred grand or for some, much more.
but, very sad.
That's not how it typically works. Generally, if someone can't handle their money at their current income level, they can't handle money at a higher income level.I'm a broke mutha. I'm not better than anyone else. But... if I was given that kind of moolah, you can bet that I would set X amount aside for some residual income. Blow the rest if you want, but set yourself up for life first.
Well owning a bar then having it shut down by COVID is a good start on "pissing away" away your money. Remember also what city he was paid most of his baseball money in. He might have ended up with half of his earnings when it was all said and done. That doesn't end up going very far for very long. He should still have a baseball pension to fall back on which in his case should still be a pretty nice guaranteed check for life.Yes, it is sad. I don't see how these people piss all that money away.
FIFY. You left off the sarcasm emoticon.I did not see this coming.
Could be part of the problem. When you know you have something like that to fall back on, it's a lot easier to take unreasonable financial risks.He should have his pension at least.
He's not the first big bucks earner to piss it all away. Rags to riches and then back to rags.Bar closed. House and possessions being auctioned off this Sat. 11 year MLB career earnings and broke. Bought house for 1.1 mill. Still owed bank 900k. Sad.
While not smart on his part, you can definitely pay 1.1M for some Lincoln homes.He definitely has a drinking problem if he paid $1.1M for a house in Lincoln.
Sad story, but he does get $34,000 a year from MLB for his pension.
If he got in 10 years of actual MLB service time, the pension is around $200K per year.I think it's more but if that's it it's not bad. 11 years is a pretty long time.
Owning a bar in the first place is a problem. Let's just say he oughta be in the meetings in the church basement, not running a bar.Well owning a bar then having it shut down by COVID is a good start on "pissing away" away your money. Remember also what city he was paid most of his baseball money in. He might have ended up with half of his earnings when it was all said and done. That doesn't end up going very far for very long. He should still have a baseball pension to fall back on which in his case should still be a pretty nice guaranteed check for life.
Yes that's true. He can't tap into it just yet.I think the earliest pension starts is age 45. He has a few years yet. Never too late to go back to college
He's probably seen the movie Roadhouse a few times and thought what a great lifeOwning a bar in the first place is a problem. Let's just say he oughta be in the meetings in the church basement, not running a bar.
We would all like to think that, but few do.I'm a broke mutha. I'm not better than anyone else. But... if I was given that kind of moolah, you can bet that I would set X amount aside for some residual income. Blow the rest if you want, but set yourself up for life first.