Adrian Peterson broke?

[markstanco 12489]

I still laugh when I think about him saying he was going to OU to win National Championships and told Texas no.  The following year he watched VY win one from his couch.  

[lilMAC25 3776]

3 hours ago, Scholz said:

Well I guess his kids he's never met are SOL.  But then again, they're probably the lucky ones.  Except the dead one.

Ouch. 

[Nice Guy Eddie 13391]

5 hours ago, Hook1997 said:

How these guys go broke after making millions always amazes me, give me two million i'm turning it into 8 atleast in 20 years aleast easy.   Just buy real estate and invest and start a business-like car washes, storage buildings,,douplexes, fourplexes, ect there's easy ways to make money if you have it    

Car washes are actually up there with restaurants and bars in terms of athletes losing money. And many athletes just trust the wrong people who also don’t know what they’re doing, or worse do know how to make themselves wealthy as the advisor.

While it’s great if they can turn millions into tens of millions after retirement, many athletes would be much better off if they just bought CDs with half of their income. It’s about capital preservation with low risk. I’m not seriously advocating all of their wealth in CDs but it’s better than being bankrupt at 39 with the vast majority of your lifetime income in the rear view mirror.

[HtownHorn 14446]

5 hours ago, Hook1997 said:

How these guys go broke after making millions always amazes me, give me two million i'm turning it into 8 atleast in 20 years aleast easy.   Just buy real estate and invest and start a business-like car washes, storage buildings,,douplexes, fourplexes, ect there's easy ways to make money if you have it    

[Blotto 23418]

that dumb m'fer managed to go broke well before his playing days were even over. you could give him another $50 million today and this thread would be right back to where it started in another 5 years. 

[Farmer Vincent 43]

.

 

Edited September 10 by Farmer Vincent

[Herpa Derpa 6105]

51 minutes ago, Blotto said:

that dumb m'fer managed to go broke well before his playing days were even over. you could give him another $50 million today and this thread would be right back to where it started in another 5 years. 

You can't fix stupid.

[TrashMaster G 17379]

37 minutes ago, Herpa Derpa said:

You can't fix stupid.

But you can gift mad dough from it.

[Nivek 16808]

Car washes are actually up there with restaurants and bars in terms of athletes losing money. And many athletes just trust the wrong people who also don’t know what they’re doing, or worse do know how to make themselves wealthy as the advisor.
While it’s great if they can turn millions into tens of millions after retirement, many athletes would be much better off if they just bought CDs with half of their income. It’s about capital preservation with low risk. I’m not seriously advocating all of their wealth in CDs but it’s better than being bankrupt at 39 with the vast majority of your lifetime income in the rear view mirror.

Index fund it. It’s not like he is 75 yrs old.

[Funk Doctor Spock 11912]

Every athlete should have to read about Derrick Coleman losing something like $100m after he was out of the NBA. Cautionary tale for athletes. I do wonder why Peterson isn't doing something with football like even breaking down running plays or some shit. Hell, be RB coach at even UTSA. It's better than going broke. 

These morons have to go through mandated classes after getting drafted to teach them how to not go broke, yet here we are. God athletes are the dumbest people. 

[ChiTownDoc 21091]

Can probably take the question mark off the thread title.  

[TreatyOak 16147]

9 hours ago, Hook1997 said:

How these guys go broke after making millions always amazes me, give me two million i'm turning it into 8 atleast in 20 years aleast easy.   Just buy real estate and invest and start a business-like car washes, storage buildings,,douplexes, fourplexes, ect there's easy ways to make money if you have it    

https://www.jbsindustries.com/blog/10-reasons-why-car-washes-fail-and-how-to-avoid-them/

[Gatorubet 30064]

On 7/25/2019 at 8:32 AM, ButtFumble said:

I think a lot of it is basic financial illiteracy and financial ignorance combined with a "balla" attitude where being a "balla" means you just over pay for everything because that shows everyone you are rich

you get a $3 million check right up front for a signing bonus and the first thing you want to do is buy yourself a $2 million dollar house and mom a $1 million dollar house.....but of course your advisor (also a fucking moron) tells you that paying cash leaves you broke so you need to finance them.....normally that would not be terrible advice, but you have shit credit, you just got your first pay check ever and your shit credit and lack of income gets you an 8% loan on that $3 million worth of houses

you put 5% down because your shit advisor has no clue about mortgage insurance and the cost of that so there is another shit tonne of money you are paying until you get 20% equity and have the PMI removed (which you never do because the do not remove it automatically and you don't even have a clue what it is)

you know jack shit about property taxes (or income taxes) because no one in your family has ever paid them......you probably fuck up some how and either put both houses in your name or mom keeps her old shitty house in her name (if she had one) and so you can't homestead one of those properties so you pay a shit tonne more taxes on it as well

you have no clue what it cost to heat and cool homes that size or maintain the pool and the lawn and most of the people you hire to do that at first realize you are a fucking financial chump and over charge the shit out of you because you will probably not figure it out before you are broke anyway or even if you do they will have made so much that losing your business eventually will still be worth it

so right there you probably shitted away $1 million to $1.5 million between the PMI, taxes you over pay, the high loan rate that you never refinance if you get your credit together, and all the cost of shit you pay in services

if you had just put that $3 million in the bank and waited 6 months you might have made 2% on it (which sucks but still), you could get a decent credit score, find a realtor worth a fuck, get a decent mortgage, put 20% down and maybe just buy mom a $500,000 house and store most of your shit there while you rent somewhere (for a reasonable price) and figure out if you are even going to last in the league past your first contract

do the same dumb ass shit on a car......you just walk into the dealer and you HAVE TO HAVE IT.....you "ballin" and people that ball do not negotiate prices on shit that is what the poors do so you pay list price for that G Wagon with a bunch of dumb ass shit tacked onto it, high ass dealer prep and other made up fees and then the slut you are fucking backs it into a pole at the C Store 5 weeks later and ballas do not drive wrecked cars so you trade it in on the Porsche she always liked better anyway and take a $60,000 hit on that 5 week car ownership escapade and of course with the high end Porsche you know nothing about the maintenance cost and you pay full list when you do get anything done except you skip the major 20,000 mile service because you just have no clue about that and when you go to trade it in a year later you get fucked another $60,000 on that deal because you have oil changes, bald tires and no major service records

you pay $100,000 for that panther necklace with $20,000 worth of metal and stones in it and $80,000 of labor (to make something that no one else on earth would wear) and when you get traded well it has to be redone into a dolphin or bronco or seahawk or you just sell it to the cash for gold guy for scrap value

$100,000 on a Vegas weekend where you buy your crew all kinds of dumb shit, another $100,000 on one with bottle service, and another $100,000 on one where your boiz had a "system" that always wins.....well there goes $300,000

you have never run a business in your life and look at everyone that works at a restaurant as the poors and dumb as service job fucks so how hard could that shit be so your idiot relative takes $100,000 for a wing restaurant or $300,000 for a sports bar

just day in and day out you have a $100 target on your back and week in and week out a $1,000 to $10,000 target on your back for dumb ass shit that you buy or pay for because that is what ballas do they ball

a few of your advisors fuck you for $100,000 each or more

knock up a few sluts

you wake up three years later and you still have a massive mortgage on a home full of big screen TVs, tiger skin paint on the walls and zebra carpet (that people probably put their kools out on), your pool is fucking green, your lawn looks like shit, your mom took a second mortgage on the house you bought her somehow (probably your fucked up financial advisor slipped that paper work in on you), you have huge car payments on thrashed out cars worth 35% of what you paid for them and less than you owe

you have just pissed through $5,000,000 in no time just getting fucked $100 a day, $1,000 to $10,000 a week on random shit, fucking off $100,000 a pop on cars and jewelry and suits and cloths, getting fucked massively on your homes and home loans, missing your tax bills and the shitty investments on stupid shit that you think regarded people run like restaurants and clubs

shit you would stand a better chance going for the 20X return on some shitty stock vs doing all the shit above

you might as well call this Walmart people hit the lottery.   It’s the same story.  There was a couple who hit the lottery and pissed through it about three years like $100 million. they bought everyone they knew houses and cars.   They did not know so much about taxes so chose not to pay a lot.

I remember they bought a big ass jet.  The flew it like two times and eventually did not have the money for a pilot or for maintenance so it sat somewhere until it was seized..   They could’ve arranged a goddamn CD and been making 5 million a year in interest for the rest of their life, but no,  Better to spend it all now.   They were so dim that rather than sell their house to somebody when they couldn’t pay for it they just walked away and it was sold for property taxes at a huge discount.   

I remember when Wilbur Marshall, the Gator linebacker star, signed a $6 million dollar contract, a staggering sum at the time.   I remember him saying he knew nothing about money so he had an annuity that would pay him every year and he would not spend more than whatever that was.  Not the best financial choice, but it sure was not the worst.

[Hook1997 5269]

4 hours ago, Nice Guy Eddie said:

Car washes are actually up there with restaurants and bars in terms of athletes losing money. And many athletes just trust the wrong people who also don’t know what they’re doing, or worse do know how to make themselves wealthy as the advisor.

While it’s great if they can turn millions into tens of millions after retirement, many athletes would be much better off if they just bought CDs with half of their income. It’s about capital preservation with low risk. I’m not seriously advocating all of their wealth in CDs but it’s better than being bankrupt at 39 with the vast majority of your lifetime income in the rear view mirror.

Idk I’ve never know a person who owned a car wash that actually lost money.  Most literally pay themself off on a few years.  Storage buildings I have a fried that owned another more intensive business that was destroyed by a hurricane and just went boat and storage and expanded and is making 10 times what he did with the other business 

[Sandman 3402]

27 minutes ago, Funk Doctor Spock said:

I do wonder why Peterson isn't doing something with football like even breaking down running plays or some shit. Hell, be RB coach at even UTSA. It's better than going broke. 

Not trying to kick a guy when he's down but have you heard him speak? Getting his point across verbally isn't a club he has in his bag. 

His main talents seem to be running and fucking. Maybe some sort of onlyfans speed-fucking channel is the answer for him?

[statsman 5406]

Here is an article that explained how a real life middle class functional couple lost a lot of money. TLDR: seemingly legit financial advisor “invested” their money in sub-optimum financial instruments that paid high commissions to the salesman. 
 
https://www.wsj.com/finance/investing/a-couple-won-the-powerball-investing-it-turned-into-tragedy-fc8fd31c?st=3vtaqccscun8f9e&reflink=mobilewebshare_permalink

I wouldn’t be surprised if athletes meet a lot of guys like that. 

[markstanco 12489]

With a quick Google he made 103 million in nfl money alone. That doesn’t include local commercials and Gatorade or whatnot.

Glad he chose Oklahoma instead of Texas. Trash human who beats his kids and they love him in Norman. Show up at a local bar and he doesn’t pay a dime in OKC for drinks. Perfect sooner.

[Vermin 3042]

10 hours ago, Hook1997 said:

How these guys go broke after making millions always amazes me, give me two million i'm turning it into 8 atleast in 20 years aleast easy.   Just buy real estate and invest and start a business-like car washes, storage buildings,,douplexes, fourplexes, ect there's easy ways to make money if you have it    

Yea getting an Hall of Fame NFL player that made 9 figures to embrace the day to day grind of managing retail employees and broken plumbing. Good luck with that.

[Doc Daneeka 6769]

3 minutes ago, Vermin said:

Yea getting an Hall of Fame NFL player that made 9 figures to embrace the day to day grind of managing retail employees and broken plumbing. Good luck with that.

Fuck, for $100k a year I’d have put his money in VTI and BND for him. 

[futureman 22411]

12 hours ago, Hook1997 said:

give me two million i'm turning it into 8 atleast in 20 years aleast easy.    

 
 

lulz

[Hook1997 5269]

10 minutes ago, futureman said:

 
 

lulz

Trolls going to troll.  

[futureman 22411]

bro, until you've made enough cheddar to put a down payment on a sweet car wash I’m not interested in hearing from you.  miss me with your comments. 

[Funk Doctor Spock 11912]

4 hours ago, Sandman said:

Not trying to kick a guy when he's down but have you heard him speak? Getting his point across verbally isn't a club he has in his bag. 

His main talents seem to be running and fucking. Maybe some sort of onlyfans speed-fucking channel is the answer for him?

I can honestly say I have never heard him speak, but I can look at his choices in going to college and know I trust everyone when they say he sounds like he had a brain injury as a child and it carried over into adulthood.

I imagine he speaks like this guy...

[Funk Doctor Spock 11912]

4 hours ago, Gatorubet said:

you might as well call this Walmart people hit the lottery.   It’s the same story.  There was a couple who hit the lottery and pissed through it about three years like $100 million. they bought everyone they knew houses and cars.   They did not know so much about taxes so chose not to pay a lot.

I remember they bought a big ass jet.  The flew it like two times and eventually did not have the money for a pilot or for maintenance so it sat somewhere until it was seized..   They could’ve arranged a goddamn CD and been making 5 million a year in interest for the rest of their life, but no,  Better to spend it all now.   They were so dim that rather than sell their house to somebody when they couldn’t pay for it they just walked away and it was sold for property taxes at a huge discount.   

I remember when Wilbur Marshall, the Gator linebacker star, signed a $6 million dollar contract, a staggering sum at the time.   I remember him saying he knew nothing about money so he had an annuity that would pay him every year and he would not spend more than whatever that was.  Not the best financial choice, but it sure was not the worst.

There was a guy in England who hit about the same amount and in a matter of 2 years he burned through it all on hookers, blow, and meth. He's now working as a sanitation worker and says he regrets nothing. 

Can't blame him blowing it all on blow, though. Hopefully he saved a little for some ecstasy. 

[runthebone 7929]

Gee, too bad.

[52-80 19066]

8 hours ago, statsman said:

Here is an article that explained how a real life middle class functional couple lost a lot of money. TLDR: seemingly legit financial advisor “invested” their money in sub-optimum financial instruments that paid high commissions to the salesman. 
 
https://www.wsj.com/finance/investing/a-couple-won-the-powerball-investing-it-turned-into-tragedy-fc8fd31c?st=3vtaqccscun8f9e&reflink=mobilewebshare_permalink

I wouldn’t be surprised if athletes meet a lot of guys like that. 

gotta do what Shaq does: find a little Jewish man to handle your dough

 

[Royale with cheese 1436]

5 hours ago, Funk Doctor Spock said:

There was a guy in England who hit about the same amount and in a matter of 2 years he burned through it all on hookers, blow, and meth. He's now working as a sanitation worker and says he regrets nothing. 

Can't blame him blowing it all on blow, though. Hopefully he saved a little for some ecstasy. 

"Well, most of it went for coke and hookers; the rest, I just flat wasted."

[Parliament 14112]

Maybe he invested heavily in TSLA?

[Funk Doctor Spock 11912]

2 hours ago, Royale with cheese said:

"Well, most of it went for coke and hookers; the rest, I just flat wasted."

Is that bis actual quote, because it sounds eerily familiar? 😂

Edited September 11 by Funk Doctor Spock

[lilMAC25 3776]

11 hours ago, Sandman said:

Not trying to kick a guy when he's down but have you heard him speak? Getting his point across verbally isn't a club he has in his bag. 

His main talents seem to be running and fucking. Maybe some sort of onlyfans speed-fucking channel is the answer for him?

Can he sell his services as someone who severely beats children?

[Funk Doctor Spock 11912]

1 minute ago, lilMAC25 said:

Can he sell his services as someone who severely beats children?

You mean having him adopt kids in the system who get taken away from their parents? I'm sure he can fill that role nicely. He has, what, 59 kids already?

[Braff Zacklin 13399]

16 hours ago, Nice Guy Eddie said:

Car washes are actually up there with restaurants and bars in terms of athletes losing money. And many athletes just trust the wrong people who also don’t know what they’re doing, or worse do know how to make themselves wealthy as the advisor.

Yeah, but once upon a time, A.D. made rolls of cash washing cars ... and he didn't even have to show up or wash a single car!

[Nice Guy Eddie 13391]

11 hours ago, Doc Daneeka said:

Fuck, for $100k a year I’d have put his money in VTI and BND for him. 

Imagine that telling an NFL young star to take $1m out of their income, invest it in the market, and it will be worth $1.08m in a year. or possibly $950K in a down year. They wouldn't believe the return and potential loss is worth the opportunity cost of not having fun with that money.

They're about spending, and at that age I wouldn't have been much different.

[Doc Daneeka 6769]

Just now, Nice Guy Eddie said:

Imagine that telling an NFL young star to take $1m out of their income, invest it in the market, and it will be worth $1.08m in a year. or possibly $950K in a down year. They wouldn't believe the return and potential loss is worth the opportunity cost of not having fun with that money.

They're about spending, and at that age I wouldn't have been much different.

And that’s why my 22 year old daughter apparently has a higher net worth than Adrian Fucking Peterson. 

[lilMAC25 3776]

29 minutes ago, Funk Doctor Spock said:

You mean having him adopt kids in the system who get taken away from their parents? I'm sure he can fill that role nicely. He has, what, 59 kids already?

No. He can rent himself out to people with kids with disciplinary problems and he beats the kids within an inch of their lives.

 

 

just like he’s done with his biological offspring.

Edited September 11 by lilMAC25

[statsman 5406]

1 hour ago, Funk Doctor Spock said:

Is that bis actual quote, because it sounds eerily familiar? 😂

EPL star Georgie Best quotes : 

“I spent a lot of money on booze, birds and fast cars. The rest I just squandered”. 
 
"If I had to choose between dribbling past five players and scoring from 40 yards at Anfield or shagging Miss World, it'd be a hard choice. Thankfully, I've done both."
 
“I used to go missing a lot. Miss Canada, Miss United Kingdom, Miss Workd…”

Best was a lot like Mantle- he blew through one liver, got a transplant, and blew through it, too, dying at 59. 
 
That’s one thing you can say about Bobby Layne- he didn’t take a liver from the transplant list, leveraging his name for a few more weeks at the expense of someone else, making promises to stop drinking that he knew he wouldn’t keep. He used his liver up, and that was that. 

Edited September 11 by statsman

[Funk Doctor Spock 11912]

4 hours ago, statsman said:

EPL star Georgie Best quotes : 

“I spent a lot of money on booze, birds and fast cars. The rest I just squandered”. 
 
"If I had to choose between dribbling past five players and scoring from 40 yards at Anfield or shagging Miss World, it'd be a hard choice. Thankfully, I've done both."
 
“I used to go missing a lot. Miss Canada, Miss United Kingdom, Miss Workd…”

Best was a lot like Mantle- he blew through one liver, got a transplant, and blew through it, too, dying at 59. 
 
That’s one thing you can say about Bobby Layne- he didn’t take a liver from the transplant list, leveraging his name for a few more weeks at the expense of someone else, making promises to stop drinking that he knew he wouldn’t keep. He used his liver up, and that was that. 

Great player. 

4 hours ago, lilMAC25 said:

No. He can rent himself out to people with kids with disciplinary problems and he beats the kids within an inch of their lives.

 

 

just like he’s done with his biological offspring.

So a step-dad from Oklahoma?