Antoine Walker - total salary $110million, facing fraud felony charge, with debt of $4M. Derrick Coleman - total salary $87million, bankrupt with debt of $5M,233379 Goes to show no matter how much you make, you need to be around good people. How does a house with 10 bathrooms do you any good? I know the extreme case is Mike Tyson, but how are the casinos treating Michael Jordan these days?

Exactly. Can’t tell you how many teams were pissed off when turned down the summer pro league for Level 2.

You’ll be surprised the number of financial “professionals” that make poor financial decisions, do not follow their own advice, and rack up tons of unnecessary debt. Like the poster, a little while back, who was talking about buying a 20 grand plus watch with his bonus money; you think Warren Buffett would be buying a 20 grand watch on any of our salaries? I think not. MSF > CFA > NBA > Allen Stanford/Maddoff

This has nothing to do with finance at all. Simply put, it’s easier to talk about doing the right thing than to actually do it.

@ justin88, bad financial decisions have everything to do with finance. How can you do the “right thing” financially speaking if you don’t understand what the right thing is? Many people don’t understand the financial basics and how it works; like budgeting! This is why I think you can make a good business mass marketing financial basics; like Suzie Orman but with some cojones!

Kenny Anderson career lasted 14 yrs (1991 - 2005, total earnings $60M) When his career came to a close in 2005, he was broke. Between cars, seven children with five women and loving to party, Anderson was without a job, money or a diploma. His ‘helpers’ were around as long as the $60M was as well. Without his entourage and money, he decided to apply to an online college. Best decision ever made.,240794

Celtics > CFA

ASSet_MANagement Wrote: ------------------------------------------------------- > Celtics > CFA lebron James < CFA

allegro-cpa/cfa Wrote: ------------------------------------------------------- > ASSet_MANagement Wrote: > -------------------------------------------------- > ----- > > Celtics > CFA > > > lebron James < CFA +1 lol Prince LeBron. Honestley, as much as I HATE the Magic I think they are going to steamroll the Celts.

ASSet_MANagement Wrote: ------------------------------------------------------- > allegro-cpa/cfa Wrote: > -------------------------------------------------- > ----- > > ASSet_MANagement Wrote: > > > -------------------------------------------------- > > > ----- > > > Celtics > CFA > > > > > > lebron James < CFA > > +1 lol > > Prince LeBron. > > Honestley, as much as I HATE the Magic I think > they are going to steamroll the Celts. Yeah, the Magic are young and hungry, but the Celts are old and wise, so we shall see, should be good comp

Magic = Freshman in college who just broke up with her 4 year HS boyfriend and spent all summer at the pool. Celtics = MILF with a sugar daddy but free reign to have fun with other guys. Sure she has some mileage on her, but it just makes the experience that much better.

^ lol nice - By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce. - Within five years of retirement, an estimated 60% of former NBA players are broke. The story includes some tidbits about Rghib Ismael, who squandered his fortune on bad investments Ismail played two years in Canada and 10 in the NFL, estimating that he earned $18 million to $20 million in salary alone. He made an abortive NFL comeback attempt in 2006, never getting beyond workouts with the Redskins, and then navigated the reality-TV circuit (Pros vs. Joes, Ty Murray’s Celebrity Bull Riding Challenge). Today he does a Cowboys postgame show on Fox Sports Net. As cautionary tales go, Ismail’s could’ve been worse: He has his Notre Dame degree, and he never filed for bankruptcy, had legal trouble or got divorced. Yet he lost several million dollars, he admits, through “total ignorance.” It began in the winter of 1991 when he sank $300,000 into the Rock N’ Roll Café, a theme restaurant in New England designed to ride the wave of the Hard Rock Cafe and Planet Hollywood franchises. One of his advisers pitched the idea as “fail-proof, with no downsides,” Ismail recalls. He never recouped his money and has no idea what became of the restaurant. Lesson learned? If only. After that Ismail squandered a fortune funding not only that inspirational movie but also the music label COZ Records (“The guy was a real good talker,” says Rocket); a cosmetics procedure whereby oxygen was absorbed into the skin (“We were not prepared for the sharks in the beauty industry”); a plan to create nationwide phone-card dispensers (“When I was in college, phone cards were a big deal”); and, recently, three shops dubbed It’s in the Name, where tourists could buy framed calligraphy of names or proverbs of their choice (“The main store opened up in New Orleans, but doggone Hurricane Katrina came two months later”). The shops no longer exist. You might say Ismail had a run of terrible luck, but the odds were never close to being in his favor. Industry experts estimate that only one in 30 of the highest-caliber private investment deals works out as advertised. “Chronic overallocation into real estate and bad private equity is the Number 1 problem [for athletes] in terms of a financial meltdown,” Butowsky says. “And I’ve never seen more people come to me about raising money for those kinds of deals than athletes.”

I read that SI article before. I think it’s also has a story about an athlete who told his investment advisor that he was considering investing his money with an inventor whose big idea was to make furniture that could float so it wouldn’t be damaged in a flood. Holy moly. Who knew an index fund costing 30 basis points could be so dang ugly that you’d throw your money at hare-brained inventors? With regard to the NBA, I’ll be surprised if it’s anything other than Magic-Lakers again, and I think the Magic win the rematch.

I’m staking out my spot for the C’s championship parade. Stifling D, contributions from top to bottom, healthy big 3 and the best point guard in the league. C’s steamroll Orlando.

Orlando has one huge weakness: The lack of a go-to scorer/playmaker in the 4th quarter. Carter is soft, Howard is not a skilled offensive player and Lewis isn’t a creator. The Celtics have 2 guys (Rondo and Pierce) you can trust to make plays in the 4th. They also have 3 guys (Wallace, Garnet and Allen) you can trust to hit jumpers or finish plays in crunch time. Competitive NBA playoff games tend to come down to defense and one or two guys making big plays in the 4th. Boston has the capacity to do both.

^ They have Peitrus off the bench, that guy single handedly killed Atlanta.

^well said. come crunch time you’ll be able to find Carter in the fetal position in the corner. i think because of their bad second half, people are forgetting that the Celtics are an elite team when healthy.

Bad things happen to good people too. Trust me, you could save all your life: then your 45 years old making $400k a year have $1.5mil in non retirement accounts, $1mil in IRA’s a $2mil house with only $500k mortgage then. BAM then the 100 year flood hits. You name it… Wife rare form of Cancer, $300k a year, Kid 1 college $50k a year, Kid 2 on drugs needs rehab $50k out the door, kid 3 Autism $150k a year etc… you work at: Lehman, Bear, BNP, etc you get “let go”. Now the perfect world you set up is burning. Eighteen months later you take a job for $220k, you burned through about $1mil of your savings and now you face a cash burn of $20k a month. The good news is Kid 1 wants an MBA, and Kid 2 just got into BC. Yes you will eventually make it out but whenever you think you have to world by the balls you get kicked in them. Be prepared and don’t piss on other peoples parade you may see yourself in their shoes very soon. I could be worse you could have started with no $$.

“Kid 2 on drugs needs rehab $50k out the door… …Kid 2 just got into BC.” This is obviously a hypothetical situation. -BC Grad