I think he'll be able to absorb his draft day treats pretty quickly.
Hopefully that splurge doesn't turn into a spree where he's buying a stable of cars, houses, and other crap he won't be able to afford when the career ends.
I have to laugh at the people that want to give a pass to these guys for buying this stuff.
It's stupid and over indulgent. It's not even the fact that they dont have the money yet...it's that there is a high possibility that they can go broke shortly after their careers are over. The guys in the NBA/NFL that are broke shortly after their careers are over are plenty and well documented. What makes you think these guys will be any different?
Quote:I have to laugh at the people that want to give a pass to these guys for buying this stuff.
It's stupid and over indulgent. It's not even the fact that they dont have the money yet...it's that there is a high possibility that they can go broke shortly after their careers are over. The guys in the NBA/NFL that are broke shortly after their careers are over are plenty and well documented. What makes you think these guys will be any different?
Nothing.
It's really none of our business how they spend their money.
There were guys in the league who you would've thought were smarter with their money who are broke today like Mark Brunell. He wasn't out buying gawdy cars or jewelry. He invested badly. Putting money in gold and jewelry is probably a better investment than Whataburugers and real estate.
Once they're in the league, they go through the rookie training to teach them how to manage their money, and they're given every tool to succeed. How they handle it from there is their business. Many are smart with their money. Others come from poor backgrounds and really don't know how to manage money. Those are usually the guys who are broke shortly after leaving football.
I love Chris Rock's "rich vs. wealth" bit.
"They spinnin'!"...
"They spinnin'!"...
Quote:Nothing.
It's really none of our business how they spend their money.
There were guys in the league who you would've thought were smarter with their money who are broke today like Mark Brunell. He wasn't out buying gawdy cars or jewelry. He invested badly. Putting money in gold and jewelry is probably a better investment than Whataburugers and real estate.
Once they're in the league, they go through the rookie training to teach them how to manage their money, and they're given every tool to succeed. How they handle it from there is their business. Many are smart with their money. Others come from poor backgrounds and really don't know how to manage money. Those are usually the guys who are broke shortly after leaving football.
This. These are custom 1/1 items that will retain their value very nicely. If these guys pan out the fact that these are custom 1/1 items bought just after the draft will probably increase their value 3 and 4 times over.
Pretty sneaky OP. I almost clicked on a TMZ link. Glad I caught myself before it was too late and kept my streak alive!
It is none of our business, but people turning this into some kind of investment in precious metals humors me. These guys aren't that smart.
Quote:It is none of our business, but people turning this into some kind of investment in precious metals humors me. These guys aren't that smart.
I don't think he means that's why they bought them...just that they'll have something to pawn when then up like JaMarcus Russell!
As a Texas guy, whataburger is awesome
These items have no value until/unless they're sold. If they're selling them it is certain they need the money.
In Brunell's case, and others, they are told in the rookie symposium they are now rich, if they want to stay rich they should buy real estate. Which in the last 100 years is a good investment, but it's a long term investment and there are short term collapses in the market. Brunell got caught up in a downturn because he invested a larger portion of his money into real estate. Additionally, athletes are told to invest/buy restaurants when restaurants are a hugely bad investment. Enormously bad investment.
Regards....................the Chiefjag
In case it hasn't been mentioned, Rolex watches are actually a sound investment that hold value and even appreciate over time.
Just sayin....
Rolex watches are not immune to downturns in the market. Real estate is also a good investment, but there are downturns in the market for that too. If you can hold on to those investments for years and years you will likely gain from them, but not in short term periods necessarily.
Regards....................the Chiefjag
Rolex are a dime a dozen. I bought mine from some guy on the street for 10 bucks.
Invest in plastics. It's the wave of the future.
Quote:Invest in plastics. It's the wave of the future.
I bought some land north of El Centro, CA. The broker told me that when the big one comes, it's gonna be oceanfront property, worth $5 million an acre, so the $20 million I paid for 10 acres of desert seems like a pretty good investment.
Quote:These items have no value until/unless they're sold. If they're selling them it is certain they need the money.
In Brunell's case, and others, they are told in the rookie symposium they are now rich, if they want to stay rich they should buy real estate. Which in the last 100 years is a good investment, but it's a long term investment and there are short term collapses in the market. Brunell got caught up in a downturn because he invested a larger portion of his money into real estate. Additionally, athletes are told to invest/buy restaurants when restaurants are a hugely bad investment. Enormously bad investment.
Regards....................the Chiefjag
Brunell was left holding the bag, trying to do the right thing after the real estate market turned south and his partners bailed. A lot of folks got burned in the real estate crash, and many of them held on as long as they could, draining their resources in the process. Brunell among them.
Quote:I bought some land north of El Centro, CA. The broker told me that when the big one comes, it's gonna be oceanfront property, worth $5 million an acre, so the $20 million I paid for 10 acres of desert seems like a pretty good investment.
Ah, Otisburg. It's a little bitty place.
Quote:Brunell was left holding the bag, trying to do the right thing after the real estate market turned south and his partners bailed. A lot of folks got burned in the real estate crash, and many of them held on as long as they could, draining their resources in the process. Brunell among them.
The difference between Brunell and these guys is that he had financial advisors trying to help them along. They screwed him, but at least he was trying to make wise business choices.
These guys just want to look cool. They can buy all they want, but 5 years after their career is over and they are all the sudden bankrupt I'm supposed to feel sorry for them?
Quote:The difference between Brunell and these guys is that he had financial advisors trying to help them along. They screwed him, but at least he was trying to make wise business choices.
These guys just want to look cool. They can buy all they want, but 5 years after their career is over and they are all the sudden bankrupt I'm supposed to feel sorry for them?
The thing is, broke is broke no matter how you got there.
The rookies are given every possible tool to manage their money properly. As you pointed out, Brunell had financial advisers who screwed him over. Maybe he would have been better off sticking to cars, guns, jewelry, and houses. At least he'd have had more assets to unload.