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I've got this feeling that some day I'll be walking with a friend and we'll stumble upon a crack head trying to sell us cheeseburgers. It'll be Adrien Broner. He'll insist we buy his cheeseburgers and then offer to.... well... you saw the movie.Comment
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Nothing wrong with giving money to strippers and recklessness; only issue is that Broner does so without thinking about it (or having someone think about it for him). All he needs is a bit of financial planning help.
example: $1.5m was the reported purse on the fight. Haymon gets his 15%, trainer picks up 10% (assuming that the fight promoter got his own piece off of the entire event, rather than fighter to fighter), and then count another 10% for camp expenses (sparring partners, cutmen, nutritionist, etc). Before taxes, you'd be down to just short of $1m [40% owed to federal/state/local taxes cuts that number by $600k]. After taxes, he'd have ~$400k to himself.
At this point, you take 10% of the final take and you sock it away (most people think stock investing is too risky/not exciting enough; if that's the case, take the money and invest in property); do that on every fight and, though you might end up blowing every other penny you'd picked up, you can still retire with at least 3-5 rental homes/properties generating income for you to live off of.
That very move is what is allowing Paul Williams to do okay by himself, even after his accident; hopefully Broner listened to Haymon a bit, too.Comment
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No it was an advance that was deducted from his final paycheckComment
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AB is not exactly a risk free investment...Comment
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When celebrities go to clubs like these they get paid a lot of money to make that appearance cuz they can attract people, then they throw part of the money on the strippers and have fun while walking away with some money or maybe nothing, but no way a celebrity will throw all this money on strippers out of his own pocket, he can get a lot of hoes without having to pay cuz he's famous, people don't get this famous and rich by being this ******, what young fighters do wrong is buying too many expensive cars and houses while not paying taking loans to pay for them and not paying for their stuff in cash, they plan things assuming that they will always win and they expect to keep making more money which doesn't always happen, fighters also make the mistake of not paying taxes to the IRS on time and then they have to pay a lot of penality which is sometimes even more than the taxes themselves.Broner is one of those guy who live ABOVE what he makes. Broner makes good money but Broner tries to live like Mayweather but he doesn't make Mayweather money. You trying to be in Strip Clubs throw up money he really can't afford to throw up. The Man has 5-6 KIDS at the age of 25 and he is doing stuff like THIS:
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There's a world out there that would shock you.
As someone who has worked with a fair number of famous and formerly famous people I can tell you that, as Einstein said, ******ity is without limitations. Celebrity and intelligence have ZERO correlation. I had a buddy (musician whose work you've undoubtedly heard) that blew through 5 mill on coke and booze. The idea that celebs never spend money at clubs is a fallacy too. Some don't, but Adrien Broner wasn't even D-list when he started blowing cash and showing it on YouTube. In the scope of things, Danny Bonaducce is a bigger celeb than Broner and it's unlikely that Adrien's stock is ever going back up. He strikes me as being truly unintelligent with poor restraint and I don't think the future will be kind to him.Comment
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When the pay days start to dry up then those 6 kids Momma's start speaking to lawyers.
Then the s**t really hits then fan.
AB is no listener so forget 'Financial Advice'.
Now he is 'young, flash and fly doe'
In a few years he is doing that cheeseburger thing on the corner...Comment
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