@@yasssssss772 yeah those superstars are making hundreds of millions but most guys who have managed to stay in the league for at least a few seasons on minor roles should be able to do better with the money they make which is also in the millions. These dudes blew through that money easily for reasons lou is explaining, and he ain't even getting into family and friends sucking your wallet dry too
LAVAR BALL said it best!!! "Save your Nba checks and live off your endorsement money." We are seeing college kids make hundreds of thousands in NIL money. But most Americans were never taught Money Management
And they all finna get fat. I feel a lot of their life ends when they retire. They don’t know what to do and a lot stop exercising and lose their money
It’s easier to understand how a lot of players go broke when you stop thinking about the players you actually know. The guys who have 10-15 year careers actually have the opportunity to learn to be financially literate. When you’re a one contract guy & it doesn’t work out your only skill is basketball. So it’s either find a niche overseas, find a sports related job or go get a regular career
That is where it would be smart to put in 4 years at an NCAA school AND get a degree in something that has actual jobs. Then when the career is over the guy is ok. Larry Bird was student teaching when Indiana State was playing for the national championship. Story goes he said to the teacher he's working with, Hey would it be ok if I miss some days because of playing in the NCAA tournament? The teacher laughed and said YES we're all cheering for you guys.
@@369pendulum They're also pretty young cats still. You do a lot of dumb stuff when you're younger and the lessons of life may not have hit quite yet at the time.
This video isn't just for athletes. This video can help any high-earning man think in terms of designing a sustainable lifestyle. If you don't have the means to maintain your lifestyle a year after the big checks stop rolling in, you're spending too much money.
That’s right. The rappers like Sean Kingston buying all that jewelry they can’t afford.He bought his mother a Rolls Royce and they both ended up in jail, living above their means.
Hell no they shouldn't. Dude if you're making millions of dollars you can and should easily go out and take your own financial education classes and get a good advisor. These dudes get babysat so much already they don't need someone holding their hands at school with a lunchbox and wiping their asses.
Honestly even if you made them go and they went they still woudnt listen, these rookies in the NBA have a maturity level of a 13-14 year old cuz they've been cottled all their life.
They do during your rookie symposium they talk about financial literacy, mental health(social media), personal experiences and more. All these leagues are providing programs and the information. Life is the best teacher though
Phenomenal breakdown of the perils of being a young pro athlete. You can see how a young person who believes they're invincible and special, think the ride will never end. It's a Damn shame when reality hits.
we need to mandate financial literacy classes for all high school students.. what these players go through is an extreme case of what a lot of americans go through. your company isn’t loyal to you, jobs aren’t forever, gotta save for retirement before it’s too late, there’s gonna be emergencies, student loans are predatory.. this ain’t no dream, we gotta wake tf up fr
My husband was an intern for two NBA teams and he said that the NBA partners with top universities like UPenn to come and teach players about financial mgmt and the classes are free. No one shows up. The NFL is the same.
We're not going to that that unfortunately because the people who are in the position to arrange these classes are the ones profiting from these players.
@@BornPaidGeeOfficialHe just told what too many of the athletes do and you refuse to accept what he said. TOO MANY OF THEM GO BROKE IN THE END. THAT’S A FACT. Do the research.
He didn’t even mention the baby mamas that they support for 18 years. Tristan Thompson has 4 children that he HAS TO SUPPORT for 18 years. Family members want cars and homes. MC Hammer took care of all his friends. That’s how he got broke + he lived above his means.
Spoke on this the other night. When you set the bar for a woman, she is never going to accept less . The minute the check different, she different. Don't matter if she has everything in the world.She gonna be looking at you crazy and for an exit. Wealthy men to the poorest man, it's the same game.
Antoine Walker & Allen Iverson come to mind. The main difference is that Iverson has a US$32M Reebok check coming in 2030. I remember him saying that at one point he had 40 people living in his house with him. Leaving your homies behind seems to be the most difficult part of their career.☹☹
It not even really the homies so much (although there is that, I'm sure) as it is family. A lot of kids' parents and siblings expect them to share the wealth with them, and then they've got uncles and cousins coming out of the woodwork beyond that. Even AD had to tell his own mother "No" when she wanted him to give her her own slice of the pie, and he's got A LOT more than most of the guys LouWill's talking about.
Respect to Lou Williams for this breakdown because it was in-depth and authentic. All professional athletes need to listen to this, and move wiser with their money and love life.
Ever go to a minor league baseball game? Those good ole boys hoping to make it to the bigs look like farm boys. They walk over to the stands before the game and talk to their girlfriends. OMG…they are stunners and they, as a couple, are NOT a match.
I hear this quote so often, but an ex NFL’er told me that he’s seen players take the regular 9 to 5 men WIFE easily. It tells me that, the most modest married women also have a price. 90% its not the wrong woman, because when most of them are exposed to something different, she’s going to do that which within her nature.
So technically 54mil, less even according to Lou lol. Still a lot to waste but you can see how it happens if you dont figure that shit out till your 27-28. The real criminals are the government taking half your earnings and justifying it on "new roads" etc
@@skillsmachine9164is it tho? Rich people got the best financial advisors, which equals tax loopholes. I doubt they paying that much in taxes, but still a considerable amount
I think we have all heard these words or something similar about these NBA relationships and marriages before but i love the way lou will explained it lol, AND he said some guys ARE really God fearing family men so there are some relationships that do withstand the change. Also a good explanation of pay. I honestly have never heard of the players paying dues to the Players association but it makes sense
I was part of an athlete management group for over 15 years. We had lots of guys who never got the big bucks retiring comfortably. Then we have guys who were paying $90k a month in child support and hanging onto minimum contracts well past their prime in order to survive.
Did an airplane deal with TD….Terrell Davis back around ‘08 and that dude was sharp…money wise. Think he has an economics degree. We got to his home airport and saw he drove a “normal car”, Chrysler 300 at the time, I think it was, had a nice but modest house. Yeah…smart dude…too bad most of these players are mo-rons🙄
Thats the problem most of these athletes lead with their wallets and wonder why the women leave after they go broke. Your conditioning the woman to use you, thats common sense. Put her in position so she can be productive not just use you when its convenient lmfaoo
I mean when u been broke ur whole life n u finally got the income of financial freedom ur always going to lead with money it takes years and experience to not make rash decisions like wat u r saying
@@stryfetc1471see so what are we talking about here? Hoopers being on the road and supplementing their woman, creating a disconnect or Hoopers cheating?
You’re a kid who is making millions…. They don’t even go thru normal struggles as an adults who have to prioritize or learn about financial literacy… because they made it as far as they believe
That’s why Derek jeter waited to get married until after his playing career Either marry the chick that was with when you were broke on the come up or wait until after your career over
Yep. I'm a middle class guy with a decent job and salary, but I'm very blessed my grandpa left me nearly 300K after he passed. I would never tell any girl inhave that saved up until I know they love me for me, not money. It's gotta be super hard for pro athletes to not be targeted by gold diggers when they can look up their salary online.
Real shit, for anyone really. The key to sustainability is living within your means. Always push to make more, but always remember where you came from and be mindful of how easy it is to lose shit. Im constantly considering my future self and making decisions that may suck now, i.e. not buying shit for myself, but knowing that a roof over my head and bills paid means i sleep better at night.
The truth is nba players and rappers make these women worse than they would be because they spoil them with money, if it wasn’t for them a lot more women would be genuinely loving and caring 💯
I mean, it's been happening. Alot of times, men still end up cheating on the woman that is loving and caring until we just don't even want to be with him anymore.
Lou Will is my favourite NBA player man, Him Jamal and Darius Miles. Dmiles fucked up a lot and Lou Will and J Crossover had super long careers. Lou will is a refreshing type of dude who owns his behaviour. So good for him!
Lou Williams had two girlfriends at once and they were friends. Lou also had a car jacker try him when he played in Philly and he was in his Bentley, car jacked recognized him as Lou and let him go lol pretty sure Lou also bought him food or something Lou a legend in Philly
Common issue when you're young in terms of spending. Even without the big professional sports pay. A lot of guys spend stupidly at a young age. For many it's their first real paycheck. Even in the military with far less pay that an NBA player makes, I seen a few guys get real bad with their spending. 18, 19 year old Private / E-1. New into the military and goes out and buys a sports car. You're young, want to live and enjoy life? Away from your parents and family? Blow the paycheck on the first weekend it hits. There's businesses just outside and near military bases looking to take advantage of this. Car dealerships, bars, stripper joints. The trifecta in draining money away.
@starseed1641 So if you're poor, a percentage commission isn't bad (e.g. 1% of $100k portfolio is $1k p.a.) But when you're a multi millionaire it's predatory. Many financial advisers work on an hourly rate and over a year you might be talking anywhere from $500 to $10k. But if it's 1% of a 50mil contract, and they take 1% of the portfolio PER YEAR... that can mean year 1 they take ~$500k, year 2 they take say another $750k and so on... growing as your wealth grows. Do they have an incentive to grow your money much? No they generate 1% of your total portfolio per annum and can tell you everything you need to hear as they drain you.
Some athletes are father figures to young people they might never meet. But with social media kids deserve to see the good in people I pray more God fearing men come through the cracks successfully as thriving athletes who can inspire boys to mature into young men and to be Wholesome family men!
You really have to blame the school system for making our society lack financial literacy. It's important to understand it and make sure your kids understand it as well.
They get their directive from the government. And why would the government want it to be common knowledge that they take half of a millionairs contract for "taxes".
The majority of it comes down to common sense. Lots of them spend as if that kind of money will be coming in like that forever. Live within your means. You don't even have to be rich for that to work for you.
@@o̸ණyou say that but look at drunk drivers, even when it's against the law, and it literally harms them, people still do it. In the same way knowing better is always going to translate into doing better. The temptation to enjoy your money when you're constantly working hard and getting paid clouds whatever common sense most people have. High-level work usually needs high-level enjoyment to balance out.
This 4 minute clip was SOOOOO much more revealing than most athlete conversations. Makes no sense to get married while you're playing, save that for retirement or never
For so long I’ve always wanted to actually be courted by a ball player, but no matter how many times I would put myself in those positions, it would never happen. What do I have to do for them to want to shoot their shot, & actually go out?
Dropped straight gems. He’s so relatable, you don’t even have to be an athlete to learn the finances.
He is speaking about himself. Lebron and other athletes like kd and steph will never go broke
@@yasssssss772if they're unwise with spending anyone can go broke
@@yasssssss772 yeah those superstars are making hundreds of millions but most guys who have managed to stay in the league for at least a few seasons on minor roles should be able to do better with the money they make which is also in the millions. These dudes blew through that money easily for reasons lou is explaining, and he ain't even getting into family and friends sucking your wallet dry too
@@yasssssss772he is speaking of himself and many others. Steph and Labron are in the minority
@@MoralesCorneror the managers who rip them off.
LAVAR BALL said it best!!! "Save your Nba checks and live off your endorsement money." We are seeing college kids make hundreds of thousands in NIL money. But most Americans were never taught Money Management
Lofl...most people don't make enough money to put bac or manage.
5455 used 55@@dustinposey8476
Black Americans was never taught about finances.
THESE COLLEGE PLAYERS ARE THE 0.1% MAKING THAT MONEY….COMPARING THAT TO THE AVERAGE AMERICAN MAKES NO SENSE
@@Dashawn.B yes we were. Look up Black Wall Street
Lot of athletes of all sports should listen to this interview
Not lot. All of them coming in need to.
"I feel like my life really started when I retired" sheesh DAMN man
That’s deep
And they all finna get fat. I feel a lot of their life ends when they retire. They don’t know what to do and a lot stop exercising and lose their money
Man
That’s everybody when they getting money it ain’t that deep
🤦♂️
Bro makes me feel like i am doing just fine with my 9-5 job 😅
You are bro, trust🙌
Thought the same thang. Respect for him being honest about it tho
Dude's math is so random.
RNS!!! BOFL mo money, mo problems.
Big said it best, Mo Money more Problems
It’s easier to understand how a lot of players go broke when you stop thinking about the players you actually know. The guys who have 10-15 year careers actually have the opportunity to learn to be financially literate. When you’re a one contract guy & it doesn’t work out your only skill is basketball. So it’s either find a niche overseas, find a sports related job or go get a regular career
That is where it would be smart to put in 4 years at an NCAA school AND get a degree in something that has actual jobs. Then when the career is over the guy is ok.
Larry Bird was student teaching when Indiana State was playing for the national championship. Story goes he said to the teacher he's working with, Hey would it be ok if I miss some days because of playing in the NCAA tournament? The teacher laughed and said YES we're all cheering for you guys.
@@johnhatch6517Most NBA teams aren't drafting a rookie that spent 4 years in college.
A lot of the 10-15 year career guys also go broke too.
He broke it down GOOD this should be shown to all athletes.
@@369pendulum They're also pretty young cats still. You do a lot of dumb stuff when you're younger and the lessons of life may not have hit quite yet at the time.
All the rookies get introduction counseling talking about all these topics and more
@@Flush0000 Facts and they definitely don't listen LOL
This is one of the realist interview I've ever heard about the NBA!
This video isn't just for athletes. This video can help any high-earning man think in terms of designing a sustainable lifestyle. If you don't have the means to maintain your lifestyle a year after the big checks stop rolling in, you're spending too much money.
That’s right. The rappers like Sean Kingston buying all that jewelry they can’t afford.He bought his mother a Rolls Royce and they both ended up in jail, living above their means.
The NBAPA should have mandatory financial courses for all players.
They do.
Hell no they shouldn't. Dude if you're making millions of dollars you can and should easily go out and take your own financial education classes and get a good advisor.
These dudes get babysat so much already they don't need someone holding their hands at school with a lunchbox and wiping their asses.
Honestly even if you made them go and they went they still woudnt listen, these rookies in the NBA have a maturity level of a 13-14 year old cuz they've been cottled all their life.
They do during your rookie symposium they talk about financial literacy, mental health(social media), personal experiences and more. All these leagues are providing programs and the information. Life is the best teacher though
@@seanj3695you sound so broke lmao stop talking
This was a fantastic interview. He was not scared to tell the 100% truth. We need more people spilling facts like this in interviews. This was awesome
Lou Williams my boy keeping it 💯
Phenomenal breakdown of the perils of being a young pro athlete. You can see how a young person who believes they're invincible and special, think the ride will never end. It's a Damn shame when reality hits.
"I am team captain" 🙋🏾♂️ haha he is a real one.
What did he mean? I’m too slow lol
we need to mandate financial literacy classes for all high school students.. what these players go through is an extreme case of what a lot of americans go through. your company isn’t loyal to you, jobs aren’t forever, gotta save for retirement before it’s too late, there’s gonna be emergencies, student loans are predatory.. this ain’t no dream, we gotta wake tf up fr
My husband was an intern for two NBA teams and he said that the NBA partners with top universities like UPenn to come and teach players about financial mgmt and the classes are free. No one shows up. The NFL is the same.
That will never happen because people would then abandon consumerism.
We're not going to that that unfortunately because the people who are in the position to arrange these classes are the ones profiting from these players.
The most honest and real talk I ever heard from an NBA player
Abstinence makes the heart grow fonder, always thought that but getting to know somebody takes alot of boring time that most dont want to waste
A high-thousandaire😆😆
lol
He broke it down
Everybody dont want benzes mansions and chanel so he broke down what he would do
@@BornPaidGeeOfficialHe just told what too many of the athletes do and you refuse to accept what he said. TOO MANY OF THEM GO BROKE IN THE END. THAT’S A FACT. Do the research.
He didn’t even mention the baby mamas that they support for 18 years. Tristan Thompson has 4 children that he HAS TO SUPPORT for 18 years. Family members want cars and homes. MC Hammer took care of all his friends. That’s how he got broke + he lived above his means.
Spoke on this the other night. When you set the bar for a woman, she is never going to accept less . The minute the check different, she different. Don't matter if she has everything in the world.She gonna be looking at you crazy and for an exit. Wealthy men to the poorest man, it's the same game.
If u can reach her and not tickle her it makes a big difference they like there stomachs full
@@elishareilly7980i see what you saying, but they not hearing you bro
@@TheMagnificentMcpheewhat is bro saying
@@TheNamesFarquaad shid what he was thinking bro
not gonna lie i never thought bout this side but thats real af
This interview was 🔥🔥🔥🔥🔥
Lou Will real for speaking facts not many people know what’s really going on outside of the game I hope younger guys absorb this knowledge
"we don't got a wreckless spending habit." Buys Lamborghini and Ferrari in the same week
Keyword is habit.
Yeah like dude, what you just said ? lol
orrrrrrrrrrrrr you could save a buttload by just buying a regular sedan
Reckless
He said he was young at the time
Glad he is able to keep it real...all future NBA players need to watch this!
"Keep sending her to the mall that's how you keep her quiet" LOLOLOLOL
Antoine Walker & Allen Iverson come to mind. The main difference is that Iverson has a US$32M Reebok check coming in 2030. I remember him saying that at one point he had 40 people living in his house with him. Leaving your homies behind seems to be the most difficult part of their career.☹☹
It not even really the homies so much (although there is that, I'm sure) as it is family. A lot of kids' parents and siblings expect them to share the wealth with them, and then they've got uncles and cousins coming out of the woodwork beyond that. Even AD had to tell his own mother "No" when she wanted him to give her her own slice of the pie, and he's got A LOT more than most of the guys LouWill's talking about.
40 people is crazy
“ I make a bunch of this sh!t “ 😂😂
Now I respect why KD still ain’t got a girl
Yep, best believe his mother is going to make sure he keeps that 💰.
love to hear people telling the truth about they're environment, we can learn a lot from this, thank you for sharing and beinh honest Lou
Respect to Lou Williams for this breakdown because it was in-depth and authentic. All professional athletes need to listen to this, and move wiser with their money and love life.
These dudes just pick the wrong women. They only look at besuty
Ain’t nobody picking a good partner at 22 years old lol. They need to wait before they even get involved in that mess.
Ever go to a minor league baseball game? Those good ole boys hoping to make it to the bigs look like farm boys. They walk over to the stands before the game and talk to their girlfriends. OMG…they are stunners and they, as a couple, are NOT a match.
They don't even look at beauty, they look at booty
@@cSTEPHEN855 u right. at 22 i was looking for thots.
I hear this quote so often, but an ex NFL’er told me that he’s seen players take the regular 9 to 5 men WIFE easily. It tells me that, the most modest married women also have a price. 90% its not the wrong woman, because when most of them are exposed to something different, she’s going to do that which within her nature.
Antoine Walker blew $108M in career earnings lol
So technically 54mil, less even according to Lou lol. Still a lot to waste but you can see how it happens if you dont figure that shit out till your 27-28. The real criminals are the government taking half your earnings and justifying it on "new roads" etc
And that's absolutely absurd.🤦🏾
@stryfetc1471 well its actually 54mil as Lou explains here...plus even more expenses. Crazy that the Government just takes half for "taxes".
@@skillsmachine9164is it tho? Rich people got the best financial advisors, which equals tax loopholes. I doubt they paying that much in taxes, but still a considerable amount
Gambling
I think we have all heard these words or something similar about these NBA relationships and marriages before but i love the way lou will explained it lol, AND he said some guys ARE really God fearing family men so there are some relationships that do withstand the change. Also a good explanation of pay. I honestly have never heard of the players paying dues to the Players association but it makes sense
I was part of an athlete management group for over 15 years. We had lots of guys who never got the big bucks retiring comfortably. Then we have guys who were paying $90k a month in child support and hanging onto minimum contracts well past their prime in order to survive.
Love the straight talk.
Did an airplane deal with TD….Terrell Davis back around ‘08 and that dude was sharp…money wise. Think he has an economics degree. We got to his home airport and saw he drove a “normal car”, Chrysler 300 at the time, I think it was, had a nice but modest house. Yeah…smart dude…too bad most of these players are mo-rons🙄
Real talk
TRUTH 💯💯💯
Bro a real dude 💯
Thats the problem most of these athletes lead with their wallets and wonder why the women leave after they go broke. Your conditioning the woman to use you, thats common sense.
Put her in position so she can be productive not just use you when its convenient lmfaoo
I mean when u been broke ur whole life n u finally got the income of financial freedom ur always going to lead with money it takes years and experience to not make rash decisions like wat u r saying
They don’t got time for that crap 💀 they on the on the road hooping. If she leaves good riddance
@@isiahgomez6860
Then dont complain when you get hit in the pockets for being reckless
@@stryfetc1471see so what are we talking about here? Hoopers being on the road and supplementing their woman, creating a disconnect or Hoopers cheating?
You’re a kid who is making millions…. They don’t even go thru normal struggles as an adults who have to prioritize or learn about financial literacy… because they made it as far as they believe
Lou will always tell The truth
Good straight to the point video.
Bro, this was crazy powerful to hear. Actually made me very happy about my 9-5 😂
That was very insightful. So much goes on behind the scenes that us fans just don't know about.
It's not just about financial literacy it's about experience with having and using money
Straight Facts 💯.. fire upload 🔥
🫡🫡
I didn't need to be put on so much game. It's a cold world out here. Thanks Uncle Lou
He spitting- been following him since 04-05. Never thought about it like that
That’s why Derek jeter waited to get married until after his playing career
Either marry the chick that was with when you were broke on the come up or wait until after your career over
You either be LeBron or Jeter.
Yep. I'm a middle class guy with a decent job and salary, but I'm very blessed my grandpa left me nearly 300K after he passed. I would never tell any girl inhave that saved up until I know they love me for me, not money. It's gotta be super hard for pro athletes to not be targeted by gold diggers when they can look up their salary online.
Listening to the OGs always wise.
Real shit, for anyone really. The key to sustainability is living within your means. Always push to make more, but always remember where you came from and be mindful of how easy it is to lose shit. Im constantly considering my future self and making decisions that may suck now, i.e. not buying shit for myself, but knowing that a roof over my head and bills paid means i sleep better at night.
This is important information for you young men thinking they will hit the jack pot in sports.
The truth is nba players and rappers make these women worse than they would be because they spoil them with money, if it wasn’t for them a lot more women would be genuinely loving and caring 💯
I mean, it's been happening.
Alot of times, men still end up cheating on the woman that is loving and caring until we just don't even want to be with him anymore.
Exactly 💯. Can't keep feeding a stray and expect to have a solid situation.
Spitting the damn TRUTH
This was a great segment, Lou Williams broke that down lovely!! Gives you a new outlook on NBA life
It’s not just The NBA. This includes rappers and their expensive jewelry- Fighters like Mike Tyson, NFL - Terrell Owen
One of my fav players of all time. Never on bs all facts 😂
Getting married to the girl who rocked with you when you weren’t a made man and she helped you become one really be the best kind of women to have
Real talk about Pro Players! Total 100. Speak on it! Young & dumb dont cut it when the checks stop.
Best interview
damn he broke that down so right now athletes are talking up its good.
Lou Will is my favourite NBA player man, Him Jamal and Darius Miles. Dmiles fucked up a lot and Lou Will and J Crossover had super long careers. Lou will is a refreshing type of dude who owns his behaviour. So good for him!
“Send her to the mall.” Hilarious!
Lou got that wisdom
Real ish
Lou Will preaching 🙌
Preaching professional stupidity. No sympathy, he's happy to cheat and waste money on pointless cars. He was a great baller though
great video.
Man I’m glad reality set in on my hoop dreams. At 30 yrs old knowing how I was in my 20s I’d be deep In the hole right now
This entire comment section would fall into the same trap
It’s not just the NBA. This includes The NFL. Fighters like Mike Tyson who lost $300M, Entertainers like Sean Kingston, MC Hammer…
at least hes honest , tell the truth
Real spill
That all black FIT HELLA DOPE!
Lou Williams had two girlfriends at once and they were friends.
Lou also had a car jacker try him when he played in Philly and he was in his Bentley, car jacked recognized him as Lou and let him go lol pretty sure Lou also bought him food or something
Lou a legend in Philly
Common issue when you're young in terms of spending. Even without the big professional sports pay. A lot of guys spend stupidly at a young age. For many it's their first real paycheck.
Even in the military with far less pay that an NBA player makes, I seen a few guys get real bad with their spending. 18, 19 year old Private / E-1. New into the military and goes out and buys a sports car. You're young, want to live and enjoy life? Away from your parents and family? Blow the paycheck on the first weekend it hits. There's businesses just outside and near military bases looking to take advantage of this. Car dealerships, bars, stripper joints. The trifecta in draining money away.
"A high thousandaire"😂
Very interesting-enjoyed listening to what he had to say.
He speaks the truth. All sportsmen should listen to this.
Hockey players and European soccer players seem to understand this already. Weird.
I know he droppin gems but, we just gonna ignore my mans onesie??
He preaching!
Lou a real 1
Even though players pay 15-20k a year. They get that back 2x-3x with the marketing and licensing deals the union negotiates.
Superb information, learned a ton. 1.5 off of 5 that is crazy
🫡✅
Never take a % financial adviser.
What do you mean? Take a commission FA instead? Yeah, that makes sense, to churn your accounts by trading constantly to generate commish, makes sense.
@starseed1641 So if you're poor, a percentage commission isn't bad (e.g. 1% of $100k portfolio is $1k p.a.)
But when you're a multi millionaire it's predatory. Many financial advisers work on an hourly rate and over a year you might be talking anywhere from $500 to $10k. But if it's 1% of a 50mil contract, and they take 1% of the portfolio PER YEAR... that can mean year 1 they take ~$500k, year 2 they take say another $750k and so on... growing as your wealth grows. Do they have an incentive to grow your money much? No they generate 1% of your total portfolio per annum and can tell you everything you need to hear as they drain you.
@starseed1641 agreed, but NBA players are often the same till their first cheque. Then get prayed on by these predatory businessman
Yea do it by the hour. Percents add up when the money does too
Lou Will real for this.
Lou spoke truth
Lou will is a good story teller
I felt this video on the real 💯💯
Some athletes are father figures to young people they might never meet. But with social media kids deserve to see the good in people
I pray more God fearing men come through the cracks successfully as thriving athletes who can inspire boys to mature into young men and to be Wholesome family men!
What glasses is Lou Williams wearing? Thank you
Thank you for the gems I always thought rappers and pro athletes was the richest people until I did my research research 😭….
Really forget Lou came straight outta high school, I can totally understand him blowing that money early on
This some real insight
Lou kept it a buck 🙌🏾
I failed every class through high school but got one A, and that’s in accounting.
Lou Williams for the type of numbers he put up and the amount of years he played never really got a chance to sign a life changing NBA contract..
Facts…💯
You really have to blame the school system for making our society lack financial literacy. It's important to understand it and make sure your kids understand it as well.
They get their directive from the government. And why would the government want it to be common knowledge that they take half of a millionairs contract for "taxes".
The majority of it comes down to common sense. Lots of them spend as if that kind of money will be coming in like that forever. Live within your means. You don't even have to be rich for that to work for you.
@@o̸ණ No...that part is fairly obvious. But the government taking half of someone's max contract just because they can is another issue.
@@o̸ණyou say that but look at drunk drivers, even when it's against the law, and it literally harms them, people still do it. In the same way knowing better is always going to translate into doing better. The temptation to enjoy your money when you're constantly working hard and getting paid clouds whatever common sense most people have. High-level work usually needs high-level enjoyment to balance out.
Why blame Schools? What are parents doing?! Why is it that you don't see such behavior in certain cultures? Not all education is learnt in school
This 4 minute clip was SOOOOO much more revealing than most athlete conversations. Makes no sense to get married while you're playing, save that for retirement or never
the Jeter plan
For so long I’ve always wanted to actually be courted by a ball player, but no matter how many times I would put myself in those positions, it would never happen.
What do I have to do for them to want to shoot their shot, & actually go out?
Maybe you're not attractive enough.
Sweet Lou! You were a fun player to watch.
Invest more than you spend. Sacrifice and live below your means during your career, don’t touch any endorsement money until retirement.