Originally Posted by Brassangel
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.
Great post, but I have to disagree.
Let me just bring out one example. Lennox Lewis.
The reason I use Lennox Lewis is because he like so many American champions also grew up in provety and in gang affiliated areas. Instead of wasting millions and adopting a thug culture of bling blings and wasteful habits, Lennox saved up and is now currently worth 156 million dollars.
I get what you are saying, but it also clearly and I mean clearly illustrates the difference in will power and intelligence between Lennox and say a Mike Tyson or Holyfield.
Lewis not only proved to be the better ATG but the smarter individual in terms of life and all aspects of it. Why is that?
Now back on topic to Roy Jones. Of course he's not broke, I think Morons will use that excuse to bash him. I really feel like he is just too much addicited to the sport to quit.
Holyfield on the other hand is broke.
We get to the 2nd part of this discussion now and I like to point out education have a lot to do with this.
Why is it that the vast majority of European Soccer Stars are able to hold on to their moneys as compare to the American NBA Stars, Boxers, and NFL Players?
Growing up in a educated household is essential. The guy who went to college for 4 years, than on to graduate school for another 4 have a less chance of being broke if given 10 million than the guy who grew up in a improvished area.
This is once again why I will give Lennox more praise than the Kbros in terms of behavior and life aspects, not because the Kbros are less intelligence or less well behaved, but because the Kbros grew up in an enviroment that taught them the morals of life in which Lennox was never taught. Yet somehow Lennox still managed to rise above the low standards of Tyson,Holyfield and Bowe.