"NBA Player Go Broke Within 5 Years After Leaving the League..." Lou Williams Talks Shocking Facts
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- Опубліковано 18 лют 2024
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ua-cam.com/video/Sg-X1S5C4Xc/v-deo.htmlsi=4mNFofIfGMgjHfqT
I really don’t see how your videos or message helps the black community
Child support , divorce and alimony is worst than taxes
these young NBA guys love the NBA players before them on the court but they don’t pay attention to the mistakes they made off the court and the ig models are out here lookin for victims
All the side chicks with that
People don't talk about the gambling problem guys have that makes things 10 times worse for some guys.
Especially if you marry a white woman!
Just reckless spending
30 For 30 Broke was a excellent ESPN documentary.
Classic
One of my favorites
@@omarimack194 If haven't noticed, they don't play it and it's hard to find.
ESPN need to do a 30 for 30 on the chicks who suckered these dudes…those are the real players
Aye dat 30 fa 30 hit deep💯💯💯 millionaires that came back to humble grounding
put 10 million in a Mutual fund the second you cash your big check and get back 5% annually on average which is 500k.....whatever you do....dooooont take out that 10 million from the mutual fund....live off that 500k a year....is it the millionaire lifestyle of an NBA player?...no.... but at least you wont look crazy going in for that Walmart interview... 5 years after being a big name NBA player 🤷♂️....i dont understand why they all dont do this....its soooo simple....unless im missing something.
edit:
same goes for Lotto Winners.
it should litterally be impossible to go broke after getting rich.
edit 2:
im describing a concept, theres million other options thats not Mutual Funds....sometimes yall gotta see the bigger picture and not always take things at face value.
Exactly
This is exactly what I would do! I will say I would put money down on a nice crib(not too crazy) and pay it off as fast as I possibly can! From there, I would live life debt free. To be honest, I would end up using a lot of that 500k a year to obtain other properties!
Realistically, when you getting that cash that fast and easily all at once (and young af too), you ain't thinking like that because everything is coming at you so fast and you thinking like I'm gonna be living a big elaborate lifestyle forever. You're not really in survival mode like that during that time. Plus most of those guys lack basic financial literacy cause it's not the sexy topic to be talking about. Everyone is kissing your ass and throwing out all these perks. You would already have to have good financial infestructure set in place beforehand with solid family and friends. The LeBron situation is an extreme anomaly.
@@VaughnMcGregor welp....then they go broke 🤷♂️
@@VaughnMcGregor true. To me it just comes down to understanding how much a million is and how much things actually cost. When I was that young, I would have blown through the first million and that would have been my lesson! I would have been good after that!
Shaq said the same thing 7:08 it's one of the reasons why he only invests in middle class products. Also, he used to take half his money and save it. Sometimes. Simple works
Didn’t Shag say, “it’s not how much you make, but how much you save.”
That’s wealth
Shaq is definitely a unique business person. The other thing I have heard that he has stated is that he doesn’t like to even invest in a business until he knows that that business owner has failed at least twice. Because he doesn’t feel that they know enough or has what it takes to really go ahead and be successful.
Derek Jeter was smart he married after he retired
don't forget james Harden, still single and childless...he get to keep his money
@@bigbabysldsame with Klay Thompson
@@Gio-ue8ps cool, I never knew that, Klay get to keep all his money.
@@bigbabysld yep. Smart
Broke is not determined by how much you make, it's determined by how much you retain.
Threw making sure I put back 50k a year saving every dime discipline,work and staying focused has taken me to having over 1 million in the bank at the age of 54! I live in Arkansas and I’ve built what majority could never dream of although it’s not that hard! I was a C student in high school I just know how to live below my means under any circumstance!
taxes, management, bling, women, bad investments = broke
I’ve been to Hawks games in ATL and I’ve seen the line for players tickets and the line is nothing but young fine chicks wit no wedding rings on…I’m talkin about dime chicks and they all sponsored by these dudes
@@sweetwonkahallelujah7016Young fine chicks...who collectively have taken more loads than a Maytag! And these boys are sponsoring that...
If the average is 4 years then likely means most guys are 1 or 2 years and the only thing that brings those numbers up to 4 years is the 5%-10% of players that play 10+ years. 4 players that play a year each and one guy that plays 20 years averages like 4.8 years. So based on that projected stat then lost players don’t even have the time to save and plan up for the ending.
I never thought the baseball player who lived in his van was crazy.
I knew someone at work in one of the professional posts but at the lower levels. He applied for and was granted a temporary assignment in a super high level position that was advertised internally. One day, I saw they were advertising the post in the newspapers to make a permanent appointment. Met up with him later and asked him if he wasn't worried he wouldn't get the job after the interviews. If not, he would have to revert to his original position. He said when he got the higher appointment, he knew it wasn't permanent. The urgency of the situation meant they needed someone quickly and he was told all this.
He said a lot of people, after getting temporary rises in pay, increase their spending accordingly. He refused to fall into that trap. So the excess that he earned over and above what he earned in the lower post, he saved all of it and continued to live as though he was still only getting the lower post salary.
I would like to tell you that he got the job - but honestly, it's been so long ago that I cannot remember now. But I think he did.
Reminds me of former boxing champ Tito Trinidad whose financial advisor had the champ invest in Puerto Rico gov bonds and Tito lost millions. Guess Tito was sold on the idea that government cannot ever go broke but we talking Puerto Rico. Thing is, it’s public knowledge that Puerto Rico politicians mismanaged gov funds for decades! Got so bad that the fed government took over Puerto Rico’s finances.
And Antoine brings a third party conversation on to himself. How do we know Antoine rich? He bringing a Lou Williams conversation to himself. So ain’t Antoine a financial advisor? Vain as hell !!!
He always does that LMAO
He gonna talk about himself then plug his patron LOL
Did you catch him talking about the S600 and he said "I GOT ONE" then he had to lowkey look up the cost LMAO
And we still have no legit evidence that he’s rich or a millionaire, just his word.
Lou dropping knowledge
So on average in a 9 year span of wealth they still end up broke 😂 that’s insane
Ball sense does not equal financial sense 🔥
That financial advisor got me laughing so hard lol
Investing in a gas station could be a liability think of all the food that go out of date that u have to pay to restock plus fuel at ur store in product lost from shoplifting in marketing to keep people coming. I was working part-time at at a store in we gave customers free coffee in they choose our store but we start charging in the stop coming like that but we made almost 2000 just charging for coffee
Child Support??
Wow, great show.
😂 😂 I died when you spun around on the chair. Haha😂
He is right, but this is the salary mostly for your 3rd level bench guy or older veterans at the end if their career
Y’all know NFL and NBA players are not good money managers. Look at the communities they hail from. In which they learned to spend, spend and spend and not one iota of investment or savings was taught, just buy momma a house and a Bentley.
👏👏👏👏👏
Buy mama a house is the average thing they do…meanwhile I listen to the whyte athletes and they say they save their checks becuz their father already bought a home for mama…and this is why Blk fatherhood is the key to everything
BS. Good money management ain't conducive to everyone in your your community either. You and yours go broke a lot too. You know it and I know it for I've seen it. So take that community $#!+ somewhere else. Those who are successful, and their are many in the Black community don't flash. They don't want the attention just the joy of enjoying their money without fanfare, while listening to folks talk about how they and their kind can't do.
@@thewanderer6388, make it so, make it so.
It takes a lot of work to own a business.
No doubt. Everyone is not cut out to be an entrepreneur.
Do frank stand
Buying half a jewelry store, several baby momma’s, several ridiculously expensive cars, paying off several car notes for too many friends/family, not thinking about taxes etc etc. If you’ve never been taught the in’s and out’s of money, you’ll wind up broke.
I was watching videos about lab grown diamonds and how it was going to impact the diamond market. Someone in the comments said that the value of a diamond was the amount the jeweler was prepared to pay you if you decided to turn right around and sell to him. He said there is already a glut of gem quality natural diamonds on the market. There are warehouses full of the stuff. So all the big money shelling out, will not be recovered if one had to pawn it. I suppose gold might still retain long term value ... until asteroid mining maybe. lol.
"A rising tide floats all boats….. only when the tide goes out do you discover who's been swimming naked." This is Warren Buffett's addendum to the famous 'rising tide' quote.
So what does it mean?
When things are good all businesses are making money but when things turn south many are exposed.
The flip side of that is many highly successful long-term businesses achieve their biggest gains during low tides as they win market share from the naked swimmers.
I definitely want to learn from Anton Daniel about stocks and so on.
lol 😂
There are many former nba players that are successful in business too. Vinnie Johnson, Joe Dumars, jamal mashburn and Alex English to name a few
Two hundred thousand for a car. That's nothing to be praising like you accomplish something. Are you leasing it ?
I love to see athletes get drafted cause for most of us its the only real come up we'll ever come across, but if we being honest..................them boys really don't know what to do with money. I'm pretty sure I would've been in the same place at they age.
Good piece
Respect to Lou Williams for the transparency
Junior Bridgeman and Vinnie Johnson were a great example of how you should move after your playing career
Jamaal Mashburn to
@@2k23-mj5pg Exactly
STAY OUT OF THE CLUB AND STOP BUYING JEWELRY AND CARS...
STOP TRYING TO IMPRESS PEOPLE
I invest in a total market index fund like VTI. I dare anyone to tell me a better investment. Y’all trippin
They gotta buy mama's house and take care of her kids 😢
The only way to learn about business works is to talk to Anto D.
God forbid they get real jobs..🙄
Most of these players just going back where they came from...BROKEVILLE!
And remember somethings we see can be deceiving not just to the eyes but the soul also
Y don’t these boys just put it in the sp500?
Too boring and too easy. It's not shinny enough.
Can't pull Heauxs by showing them your Merrill Lynch account.
You do. But if people don't listen.........shame on them
Just put your money into dividend paying stocks, ETFs, options and maybe real estate.
His investment was going to the NBA
About airlines: Our national airlines was always going broke and needing bailouts. They were doing restructuring and divesting it and offered an ipo to put it on the stock market. I thought maybe as a good citizen I might buy a few. But when I saw the price per share I was, "Dem crazy" In my mind, this organization never made a profit and they want so much per share? I said hell no and did not buy.
A couple years later, the shares were pulled from the stock market as the company was doing badly, had to be restructured again. And I think people got back a fraction of what they put in. I remember someone from our office was upset about her losses and I kept saying, but this airline was always losing money why did you think things would be different. But she trusted the people doing the valuations. I remember even the firm that did the valuation - was it PwC? 🤔 had to come out and explain that the valuation included like equipment and stuff. And I was like "Equipment? You mean the planes that always down for maintenance and that's why we could never get a flight on time?" lol
The latest iteration of the airline runs better but remains not on the stock market - where it should not be. lol.
We still remember you was bout to take it the easy way with fleece lol
you should cover a video talking about how many people lost money starting a trucking business particulalry black community because of how much hype there was around the trucking industry and how most of em losing all their money
When you live as an employee. Most people don't understand business or think to know business. So they only look for the next check. Find a skill you can build in. Learn it inside and out and invest in yourself. Don't give your money to anyone or anything you can do for yourself
Lou Will a real one 1️⃣ for this real talk ☎️💯👀🫣
I guess no one, watched Warren buffet and Berkshire Hathaway, he famously only invest in things he understands completely
Which investment things are you going to understand completely as a 19 year old rookie ?
@@georgemala4046 by 19 I had run a couple businesses, called picking up a book to gain understanding and learn. At very least from our community everyone generally understands “buying low and selling high” apply that to something like basketball skills camps or attire company (owned by player) and learn
That is not what Warren Buffett meant when he said that. That statement is meant for investors that have a low risk tolerance
@@georgemala4046no education no career in business??? 😊
By that time you will miss out like Bitcoin
Who’s wearing the shades? I must be old 😂
For Anton to "Own" a S600 he sure did have to sneak and look up the cost 😆😆
👀.... 🤔
Realestate talk right now is frightening reminds me of the trucking industry ... we heavy on the following the youtube trend ..
6:27 Anton so hyped, he fell out the chair...
Not in nascar, f1, NHL, golf, or tennis🤔
F1 and NASCAR careers last 10 years or more if the driver is a moderate performer. NHL players go broke.
@@6lemans10 can you give me some good examples of NHL players ending up worse then us? I never hear about it.
@@matthowell8985 San Jose Sharks NHL player Evander Kane, who has made more than $50 million in his NHL career, files for bankruptcy.
@@matthowell8985 Robin Lehner & Evander Kane both filed bankruptcy while playing. It doesn't mean they remained broke, but they had severe financial issues from poor money management. There is a long list of players that actually went broke after playing. Google is your friend. And, as far as the other sports, most of the professionals in that sport become regular citizens after their playing days. Only a small percentage continue the "Good Life".
U right information first before investing 👍
You are correct Anton. We are ignorant. We do not have a clue.
Most people are ignorant when it comes to money no matter what shade of skin you have. There are a lot of other folks in other communities who are broke and pretending to be large. It's just that many in the Black community can't imagine that being so because they have always been told that those other communities have all the wealth.
Not the comedic drum set 😂
These multimillionaires either haven't lived a regular life in so long they forget reality. Or, they just was never taught/shown how to use their money.
Nobody's favorite player is the "average" player though. Playing in the NBA 4 years or less means nine times out of ten you weren't even making enough money to live the rest of your life with after it stops so it shouldn't be a surprised that the "average" player would go broke.The "average" player was never wealthy to begin with.
We all were young and didn't know better... that's how it is
People find it hard to believe but when there careers are over there money ain’t the same but there bills and expenses are!Lottery millionaires typically go broke so it’s an occurrence that is typical when a person doesn’t have financial acumen. I know doctors and lawyers who are broke don’t matter how much you make it matters how much you save and invest.
Where do you watch after hours
the thing about gas is..Although "we" going electric..there will still be a strong NEED for GAS...gas will not just disappear so find a use for it and generate funds from it is what Spank may be leaning towards
Lou was 12 miles away from Vanguard in Philly 500 index alone he woulda made out crazy.
Hopefully he stayed in cat long term I went from $22 a share to $225
What are the best stocks to invest in and how do I go about doing it without being scammed?
Etrade
Coach em up!
Yes, they have healthcare. If you listen at Shaq and Charles Barkley and some of them, they talk about how they used to not have coverage. However, the annual fee is something I’ve heard discussed in that depth of numbers. And that sounds like that may be one area where it’s no scale. So meeting everybody pays the same amount where other things are based off of a scale. Obviously not just a rookie scale and all this first and second apron stuff they’ve added. Even when it comes down to how the franchises get paid it is on a scale by who pays the most taxes so some franchises make more money than others. So I’m really surprised that they don’t have a scale on what the players pay to be a part of the NBPA. $1 million would last your whole life 35 to 45 years ago.
My boy sister married a NBA player. He played in the NBA for 7-8 season making avg. 500k a season. Then played overseas for another 3 seasons. Dude was a SPENDER, chased ho*es, partied and never saved. He was broke and homeless living out of his car married with 2 kids in 2010.
Shieeeeeet... TRTX (TPG finance) paying 18% dividend right now....in and out divided qtrly....
Them boys down baaaad. And we know wayy more than them 😂😂
He was fasho talking about a used S600. Prolly a 2016/17.
AD my parents and Grandparents never spoke to us about investing. Dont do Spank like that. My Grandmother would say, get you a job and put your money in the bank thats would OLDER Black people told us. meanwhile she tried to spend every dime before she left this earth. Why because she would be gone and wouldn't have to deal with anything. she got a reverse mortgage on the house that had been paid off since the 1960's. My grandfather would go over to Jersey and work the farms for extra money. My mom had to step in and make sure the mortgage got paid so when something did happen the bank wouldnt tell her to get out! if one of my co-workers hadnt of said anything about the 401k to invest in, I wouldn't have known. I wouldnt have been able to buy my house. So dont ridicule the brother. He will get the game right.
Anton this might be a hard pill to swallow for a gentleman your age but investing in a low cap gem in crypto destroys any investment that you may be in yourself. And most projects people do not understand but understand the value of hype! Now selling in a timely manner is the key but we make millions over a few months in crypto during a bull. It makes real estate roi’s look like food truck returns. Idc what you were taught times are changing
You still have to thoroughly know your investment. Market cycles, liquidity flow, correlation to BTC, most projects won’t pump, but they’ll definitely dump, even the best ones. So learn your market
Buying a bunch of liabilities as soon as they get money is where the downfall comes into play.
Players can do autograph shows and paid speeches but it requires a lot of travel and road time.
Kevin Garnett ppls opened up a law firm with money they stole from him, his wife divorced him after. Baseball is the best sport for money, they giving millions for a few RBIs and Homeruns
Baseball is also the hardest to become a pro
@gilbertnicholas1582 True you can stay in the minors for yrs , BB and FB fo sho going broke
S 600 can be $110k if its pre-owned. With a lot of miles on it
I knew a guy who invested a lot of money into an ostrich egg farm back in the 90’s. He lost his ass on that deal😂
We refuse to learn the money game
Ballers, don’t live off your nest egg.
If you don’t know business.
Try this: take $1.6 million out. Find a bank that will take that money have pay you $80k a year ( twice monthly.
$80,000 x 20 is $1.6 million.
While the rest of your is constantly drawing interest, you can live off of a decent salary.
If anyone around you is constantly asking for money, dump them.
The very worst waste of money involve women. They have these babies and for a minimum of eighteen years these guys are loosing hundreds of thousands and millions of dollars to these women and children.
Ice cude said it best: too a kid looking up to me 💯
Million dollars for Pro athlete vs Average joe not the same lifestyle
The average joe doesn't have travel expenses, agents, entourages
It’s astonishing to see how these rich athletes know absolutely nothing about finance. Someone who makes 100k/yr manages their money 100x better.
Spank gives me the feeling that he's still somewhat financially illiterate. Odd.
He said you don’t really know the person you Marry 🤦🏿♂️ Dam
And now days if you play through all 4 years of college you might not get picked so they want you young with no skills outside of basketball
If he invested in airlines before covid you were screwed. Should have bought during the lockdown and then sell later.
ANTON spitting facts!!!
Did this pop up in my recommendations fortuitously? Taxes, agent fees, management fees, union benefit dues. You're a 1000-aire, not a million-aire. Life started when Lou retired!
You tell them all the way right. Because the same phenomenon crosses from the rich and famous into regular peoples lives as well. I’ve had numerous friends that I have told them you think that you got a 12 or 15 year marriage because your husband is over the road truck driver. Let his ass lose his job. I’ve had some there has been had an accident and he didn’t have his own truck so he lost his job. When he came home, you talking about the wife the real deal is a lot of times their kids don’t even want them at home. Because it’s disrupting the schedule that has been going on. You know typically if you’re bringing a man back into the house in the ram of the way things are supposed to be that Mann 🏀🏀🏀 is bringing a different structure to the. Let me be the mother the woman should bring structure, organization, Grey council, and those things to the home. But there is a level of discipline typically changes when the man and the strong, masculine energy comes back into the home. And a lot of kids reboot against that. And it’s no different than if a man is trying to date a woman who’s been a single woman and now it’s a point of introducing that male, masculine, energy and accountability whether it’s a male child or a female child Can feel very disruptive typically because kids are under prepared because parents don’t do they fucking job but that’s a whole Nother subject. But you’re telling them all the way right. But you gotta give some advice for the guys who really don’t have a day one. But I’ve heard you talk a little bit about this, not knowing how to identify, a wife in the current settings, and when you were already a man of influence and wealth. Because influence doesn’t always mean wealth to be clear. The situation with Tom Brady I think she just wasn’t on board like with the whole plan. I think that he kept saying he was going to retire and he just fucking didn’t. And when she really took her heels in and said OK, I wanted to divorce that his ass tried to retire, and when he retired, she didn’t change your plans. But he’s clear he should stay retired Because he ended up coming back and just having a horrible year. Tom Brady is gonna be rich forever. But one thing about it is she got a lot because he’s Tom Brady but she also gave her career as well. So the thing about it you have to realize it sometimes people have made a plan because the people of the other color are more typical to often make a plan like that woman in that man would have done in that situation. But what happens when You sit down with a woman and you come to an agreement and y’all made a plan and then something goes either drastically wrong or in Tom Brady‘s case it went drastically right and he was able to have a very long career. But I don’t think that that was the plan no one was expecting him to play as long as he played. Lebron is open about that with Savannah. She would’ve much rather he retired, and nobody was thinking that he was going to. Do you know how many years at this level with this level of commitment. So you you talking good I’m I’m listening to your stuff like I’m nobody so I’m not saying my words mean that much to you. But just from the perspective of listening at different podcasts from different people on different subjects, you’re giving some good sound information and interpreted wisdom and in this particular setting you’re doing it in our live setting although I’m watching on the replay
on average....its just so much easier to spend money than it is to make some
I cant feel sorry for them this is most people at 17-18 so you got millions lived a baller life o we’ll figure it out like all the people who come see u and pay every night and figure how to make it.
Look at killian Hayes perfect example of
Anyone who gets money quick and has no financial literacy, whether thru UA-cam,OF, Pro sports, has the same future; unless they surround themselves with someone who understands whete that money should be invested.
That last part is what have them broke stay single and mingle
S&P 500 and chill It's that simple
COME ON MANE ......
THE COST OF LIVING IS DIFFERENT FROM STATE TO STATE.....SO an S600 IN TEXAS IS GONNA BE CHEAPER THAN THE COST IN CHICAGO OR CALIFORNIA...!!!!
It's so sad about the ignorance regarding investing.