SMU's downfall

#51
The last I heard, Luther was broke. I think he spent most or all of his NBA money.
Happens all the time, I don't understand how it's possible, but it happens. NBA franchises need to hire financial advisors to give advice to young players and teach them how to manage their money.
 
#52
Happens all the time, I don't understand how it's possible, but it happens. NBA franchises need to hire financial advisors to give advice to young players and teach them how to manage their money.
NBA and NFL teams have lots of seminars and bring in advisors constantly in an attempt to convince players that the money won't be flowing forever.

20-25 year old people aren't good listeners, especially when it comes to money. Add in a posse filling heads full of stupidity and it's a losing battle.

The number of retired players who are financially secure with all the money they made are a small number.
 
#53
NBA and NFL teams have lots of seminars and bring in advisors constantly in an attempt to convince players that the money won't be flowing forever.

20-25 year old people aren't good listeners, especially when it comes to money. Add in a posse filling heads full of stupidity and it's a losing battle.

The number of retired players who are financially secure with all the money they made are a small number.
Yeah I guess you're right. You'd think more players would learn from the mistakes of their predecessors... too bad, really, but it's hard to feel sorry for someone who would squander that kind of financial security
 
#54
Decatur, IL
Yeah I guess you're right. You'd think more players would learn from the mistakes of their predecessors... too bad, really, but it's hard to feel sorry for someone who would squander that kind of financial security
They will never learn until they have learned it for themselves. There aren't a lot of Alfred Morris types, but a lot more Allen Iverson types. It is truly sad.
 
#55
Yeah I guess you're right. You'd think more players would learn from the mistakes of their predecessors... too bad, really, but it's hard to feel sorry for someone who would squander that kind of financial security
He only made $7m in his life. Give Uncle Sam $3m and his agent a quarter million. Not that hard to blow $3.75m. Once you start living a lifestyle you want to keep up with the Jones's. Except his Jones's ain't scraping by on $100k a year and driving a Buick.

People tend to live above their means whether they make $50k a year or a month.
 
#56
He only made $7m in his life. Give Uncle Sam $3m and his agent a quarter million. Not that hard to blow $3.75m. Once you start living a lifestyle you want to keep up with the Jones's. Except his Jones's ain't scraping by on $100k a year and driving a Buick.

People tend to live above their means whether they make $50k a year or a month.
People also tend to be dumb, and I think there is a correlation there, lol.
 
#57
He only made $7m in his life. Give Uncle Sam $3m and his agent a quarter million. Not that hard to blow $3.75m. Once you start living a lifestyle you want to keep up with the Jones's. Except his Jones's ain't scraping by on $100k a year and driving a Buick.

People tend to live above their means whether they make $50k a year or a month.
In LH's defense, going from a lower-class upbringing to making millions is understandably difficult for some of these guys, even with the best of advisers. No excuse per se, but these guys aren't prepared to handle that kind of wealth and fame at age 22 or 23.
 
#58
He only made $7m in his life. Give Uncle Sam $3m and his agent a quarter million. Not that hard to blow $3.75m. Once you start living a lifestyle you want to keep up with the Jones's. Except his Jones's ain't scraping by on $100k a year and driving a Buick.

People tend to live above their means whether they make $50k a year or a month.
Kevin Hart does a great bit about hanging out with guys like Dwayne Wade and being wholly unable to keep up with his Jones's. Easy to understand the kind of pressure these guys are under to keep that lifestyle up.