Comments Thread For: 50 Cent Explains Hostile Relationship With Mayweather

[billeau2]

You can read and still call yourself a Floyd fan my friend....that post was not about Floyds finances, it was me questioning why they are so hung up on "having a job" aside from Boxing/music etc when both have hundreds of millions that should last 20 lifetimes. Point being that if they blow money like the fools they both are, it really doesnt matter how much they generate they'll both end up in the shi*house

Your post is responding to an idiot...But I still have to say in all honestly that it takes a lot for people to realize the truth of what your saying regarding money. We are all taught that lots of money is all we need and never (until we earn that kind of money) is it realized that the amount of money makes no difference.

Doctors and lawyers who make money (a lot don't earn that much) often have to spend to belong to the right clubs, drive the right cars and send their kids to the right schools....There was an article about people "slumming it" in Silicon Valley, because they were only making 150k a year. Money often drops people into a life of servitude. The truth is a fool can spend any amount of money quickly and Floyd has shown an aptitude for that kind of spending.

[IMDAZED]

50 was clearly the bottom and Floyd dumped him. Now he's acting like a scorned ex-lover. Close thread.

[radioraheem]

The most idiotic thing 50 did was to assume that he would glide into becoming a boxing promoter. I still remember that arrogant post to De La Hoya....kindo of showed that 50 is no brain surgeon lol. So yeah his credability is not there and he is indeed in no position to lecture anyone.

Fifty probably knows about the spending issues though....You have idiots posting here right now that believe that Floyd's lavish ways are an image....Because its not like any boxer EVER SPENT HIMSELF INTO BROKEDOME before....or, Floyd is just too smart for that cause he he spoke to Warren Buffett!

You do realize though that for someone bringing in so much income financially within a single year, they literally HAVE to spend money on something. Whether it's on investments, charity, or unnecessary crap. Because Uncle Sam is on the wing wanting a piece of it.

And what Floyd has to spend at minimum is insane by normal people's standards. We are talking at least a few million at minimum.

[skinnystev]

black cultural standing has slipped another notch

[Francis M.]

You do realize though that for someone bringing in so much income financially within a single year, they literally HAVE to spend money on something. Whether it's on investments, charity, or unnecessary crap. Because Uncle Sam is on the wing wanting a piece of it.

And what Floyd has to spend at minimum is insane by normal people's standards. We are talking at least a few million at minimum.

Floyd is overspending but money is still coming in. I just hope he's smart enough to adjust the spending when his boxing career is over. I don't think he can find a career after boxing that will generate the same money after boxing.
Same goes for Pac or any athlete.

[!! Shawn]

You do realize though that for someone bringing in so much income financially within a single year, they literally HAVE to spend money on something. Whether it's on investments, charity, or unnecessary crap. Because Uncle Sam is on the wing wanting a piece of it.

And what Floyd has to spend at minimum is insane by normal people's standards. We are talking at least a few million at minimum.

This may be the dumbest thing I have seen since horus "floyds boat is an investment" thing.

You do realize that uncle sam gets his cut whether or not Floyd spends his money right? You honestly think Floyd had to buy 3 Bugatti Veyrons to avoid the tax man? I'm really not sure what world you are living in, but I wish I lived there.

I can imagine the scene now:

Floyd opens a letter from the IRS, and thinks to himself "Well I can't read it, but it probably says 'If you don't spend all of your money on Bugattis, we will have to confiscate everything you own' so I better go and buy me some Bugattis!!!!

[billeau2]

You do realize though that for someone bringing in so much income financially within a single year, they literally HAVE to spend money on something. Whether it's on investments, charity, or unnecessary crap. Because Uncle Sam is on the wing wanting a piece of it.

And what Floyd has to spend at minimum is insane by normal people's standards. We are talking at least a few million at minimum.

I apologize if I caused you to get some flack with this post lol. The problem is not that Floyd has to spend money. The problem is when you earn income and when you buy luxury items you pay a lot of proceeds in taxes. The way this is avoided is to take that money make it generate income by working through businesses so one can then deduct things instead of paying things to the IRS...Rich people never have anything in their own names for this reason. Also when you invest instead of earn income you are taxed at a better rate. ******** is also a really ****** thing to do tax wise because when you win uncle sam is yur partner but you cannot deduct your loses.

The real problem is that Floyd depends on others and others will not be around when he is not earning....thats always what has happened. so he should be educating himself about financial literacy instead of thinking his team thick or thin. In the end he will have Larry's shoulder to cry on and little more.

[radioraheem]

This may be the dumbest thing I have seen since horus "floyds boat is an investment" thing.

You do realize that uncle sam gets his cut whether or not Floyd spends his money right? You honestly think Floyd had to buy 3 Bugatti Veyrons to avoid the tax man? I'm really not sure what world you are living in, but I wish I lived there.

I can imagine the scene now:

Floyd opens a letter from the IRS, and thinks to himself "Well I can't read it, but it probably says 'If you don't spend all of your money on Bugattis, we will have to confiscate everything you own' so I better go and buy me some Bugattis!!!!

The argument is not that Uncle Sam still won't take any money if Floyd spends. That is silly. But they will be subject to take LESS money if he spends. This is Tax 101. It's not that he can 'avoid' the tax man. He cannot. He can only REDUCE the amount he has to pay them through spending.

[radioraheem]

Floyd is overspending but money is still coming in. I just hope he's smart enough to adjust the spending when his boxing career is over. I don't think he can find a career after boxing that will generate the same money after boxing.
Same goes for Pac or any athlete.

No one can say for sure that he is overspending unless you know his finances (income, expenses, investments, liabilities, etc). Right now, he literally has to spend a few million because of his income. But after the income stops, that's when **** gets real. He cannot spend so much within a year anymore after boxing, nor does he have to. If he does, trouble starts.

I apologize if I caused you to get some flack with this post lol. The problem is not that Floyd has to spend money. The problem is when you earn income and when you buy luxury items you pay a lot of proceeds in taxes. The way this is avoided is to take that money make it generate income by working through businesses so one can then deduct things instead of paying things to the IRS...Rich people never have anything in their own names for this reason. Also when you invest instead of earn income you are taxed at a better rate. ******** is also a really ****** thing to do tax wise because when you win uncle sam is yur partner but you cannot deduct your loses.

The real problem is that Floyd depends on others and others will not be around when he is not earning....thats always what has happened. so he should be educating himself about financial literacy instead of thinking his team thick or thin. In the end he will have Larry's shoulder to cry on and little more.

Haha, that always happens here. No matter what, Floyd literally HAS to spend some of those millions. The earnings is excessive. Whether it be investments as you pointed out, luxury items, charity, or totally unnecessary garbage. Investing is still spending as there is no guarantee it'll generate income. Tomorrow is also not guaranteed. What if Floyd dies in 2 years? Death can quickly put spending a little bit more into perspective too.

But the problem is not right now. The problem is if he continues spending at an excessive rate when excessive income is no longer being earned. It's the spending that happens AFTER boxing. And managing spending habits is more about discipline than it is financial literacy.

[-Kev-]

Finally, 50 Cent says something I agree with. Floyd is an idiot with his money and he is right, Floyd will probably need financial help years after retirement, like Tyson and Holyfield. When he does get to that point, there's no way in hell, as a big Floyd fan, that I will feel bad for him, AT ALL.