Football Ten reasons why ex-NFL players go broke... - Page 9

Msmith · 05-31-2012, 07:47 AM

1) Gross vs. net: It never fails; when my clients get their first NFL check they call me and say something is wrong. They are floored by how much is taken out for taxes and other deductions. Unfortunately, the shock doesn’t resonate long enough. I would say 90% of players have some type of direct deposit or their check gets mailed to their investment advisor and the players never see the net amount. Thus, they think they always are making more money (in gross numbers) than they actually are...

Link: http://www.nationalfootballpost.com/...-Go-Broke.html

**Bugeater** · 05-31-2012, 04:34 PM

Quote:

Originally Posted by Micjones

Whatever you say Suze Orman.

I don't know who she is.

Valiant · 06-01-2012, 08:44 AM

Quote:

Originally Posted by Satanic Goat

$200,000 bar tabs.

I wonder if this is part of the east european crime syndicate I have read on abcnews today.

They get young hot women to drugrich guys and make the buy cheap drinks at astronomical prices..

Chiefshrink · 06-01-2012, 08:57 AM

Quote:

Originally Posted by Dave

Why don't their Agents prepare them for this?

Because the agents know themselves that even there 5-10% take will even seem huge to the players if the agent opens up the whole can of worms to taxes and fees taken out. So why go there? Unless of course you are wise as a player and get all the numbers up front first

My guess though is they do but the player isn't listening or really doesn't understand how the 'real world' works

**Rain Man** · 06-01-2012, 11:40 AM

Quote:

Originally Posted by Bugeater

I don't know who she is.

I think she founded the Red Cross. Either that, or won the balance beam in the 1988 Olympics.

GoHuge · 06-01-2012, 12:01 PM

I will say that whether or not you like, hate, or are indifferent about Boris his clients are being prepared for life after baseball right after they cash their first big check. Financial advise/advisers, strength & conditioning, etc are all done in house. A one-stop full service shop. He brings as much name power to his clients as they bring to him. He's got the pull to get them to listen to everything he says along with the track-record that proves he's got their best interest in mind.

Luckily with the way the draft is now setup this bastard can't influence the game the way that he use to be able to.

Setsuna · 06-01-2012, 03:38 PM

Quote:

Originally Posted by DaKCMan AP

Carry on.

Quote:

Originally Posted by Vanilla Thunder

It's mostly blacks. Crazy blacks.

Well said....racist.

05-31-2012, 07:47 AM
Msmith Veteran Join Date: Jan 2004 Casino cash: $8238035	Ten reasons why ex-NFL players go broke... 1) Gross vs. net: It never fails; when my clients get their first NFL check they call me and say something is wrong. They are floored by how much is taken out for taxes and other deductions. Unfortunately, the shock doesn’t resonate long enough. I would say 90% of players have some type of direct deposit or their check gets mailed to their investment advisor and the players never see the net amount. Thus, they think they always are making more money (in gross numbers) than they actually are... Link: http://www.nationalfootballpost.com/...-Go-Broke.html
Posts: 2,068

06-01-2012, 12:01 PM	#125
GoHuge The Truth Join Date: Dec 2005 Location: Overland Park Casino cash: $10006072	I will say that whether or not you like, hate, or are indifferent about Boris his clients are being prepared for life after baseball right after they cash their first big check. Financial advise/advisers, strength & conditioning, etc are all done in house. A one-stop full service shop. He brings as much name power to his clients as they bring to him. He's got the pull to get them to listen to everything he says along with the track-record that proves he's got their best interest in mind. Luckily with the way the draft is now setup this bastard can't influence the game the way that he use to be able to.
Posts: 3,991