Originally Posted by Chuckguy
Yeah it's sad that a grown ass man make millions of dollars and be broke! He should have invested his loot right and retired after the tarver rematch then stuck with that good gig he has with HBO. What a dumbass Roy turned out to be
It's no different than someone working a low-skill, middle class job who lives paycheck to paycheck. There's no reason someone making $50,000 per year should ever struggle with money, but people always live beyond their means, buy on credit, think about saving later. Suddenly they are in their 60's and hoping Social Security will take care of them. Who do they blame? Rich people instead of looking in the mirror at themselves.
People with lots of money are often the same way, only it's magnified. More money means more spending, more risk, more to lose. Someone who is bad with money will be bad with money no matter how much they make. People claim they would live a "normal life" if they had millions, but they wouldn't. They would spend it. The reason is, you never think it's going to stop. You always tell yourself you'll get to saving later.
If you took every penny from every person and redistributed it evenly, the people who were rich before will be rich again. Most of the people who were poor before will be poor again.
Professional athletes drive multi-billion dollar industries that provide thousands of jobs and move the economy. That's why they get paid a lot; not because they are spoiled. They have a very rare skill set and they put their body at risk to the delight of millions of people all over the world. But their careers are also incredibly short. When you are 28, 30, 32, you don't feel much different than when you were 22. You always think you've still got it, and that it's never going to end. Should he have invested properly? Sure. Sounds easy enough. But maybe he put it in the incorrect mutual fund. Maybe his investors made a bad move. Maybe he spent a little recklessly and others took advantage of him. Maybe all of the above.
Just because we read in an article that Fighter A got $20 million for a fight doesn't mean Fighter A made anything close to that. After taxes, agent fees, gate fees, union dues, lawyers, accountants & financial adviser fees, family and friends leeching because they don't want to work for themselves, etc., he maybe only saw $2-3 million and that was probably in bonds or investitures. Then the broken and corrupt government will charge him Capital Gains on any of his investments anyway, so he really can't get anywhere when he's not used to having that much money.
As a young man in the prime of his career, do you really think it's easy to just sit patiently for it to grow and not spend it? He's traveling everywhere and getting all but worshiped and we chide him for spending between fights?
You would be no different. None of us would. We struggle with money not because of rich people, but because of secret taxes on the middle class like Cap and Trade raising the prices of our groceries, gas, and electricity; all the while living beyond our means.
Maybe it's money he's after, or maybe he just wants desperately to find a way to end on a high note. We can't always assume the worst.