Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-16-2012, 03:31 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,432
May not be related to his financial woes but still a funny video.

__________________

__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-16-2012, 03:45 PM   #22
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,824
Quote:
Originally Posted by Texas Proud View Post
Anybody who has an outstanding bill to a jewler of $800K is probably not LBYM...
+1 Really, I think this says it all. Also it is a good candidate for first place in the "Understatement of the Year" awards.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 02-16-2012, 08:15 PM   #23
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,137
Quote:
Originally Posted by HatePayingTaxes View Post
Just goes to tell you that amount of money is not the issue here. One can have millions but, if can't LBYM, you're screwed. It's the life style that's more important than money.
Quite right. A sixpence is as good as a million if you run short, as Charles Dickens said

“Annual income twenty pound, annual expenditure nineteen nineteen six, result happiness. Annual income twenty pound, annual expenditure twenty pounds ought and six, result misery.”
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 02-16-2012, 10:12 PM   #24
Recycles dryer sheets
 
Join Date: Mar 2008
Posts: 404
If the article is read a little closer, it's a bit of bad journalism and a lack of knowledge of the legal system. What occurred, is that a jeweler sued Iverson for $800K, and Iverson told the court he doesn't have the ability to pay. He well might have income and assets that are exempt from judgment, and beyond reach of creditors. I'm not saying that is the situation, but it doesn't necessarily mean he's completely broke.
__________________
ACC USN-(Ret)
BLS53 is offline   Reply With Quote
Old 02-17-2012, 12:20 PM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,403
Quote:
Originally Posted by farmerEd View Post
Allen Iverson Is Broke Despite Making More Than $150 Million During His Career

Allen Iverson Is Broke Despite More Than $150 Million In Career Earnings

Hard to believe, isn't it? And yet stories like this are not hard to find.
Not sure if I care. Once a bum....
__________________
pb4uski is online now   Reply With Quote
Old 02-17-2012, 02:15 PM   #26
Full time employment: Posting here.
 
Join Date: Jul 2007
Location: ST LOUIS
Posts: 993
Read the Personal life part of this link down near the bottom of the page.

Allen Iverson - Wikipedia, the free encyclopedia
__________________
Proverbs 15:22 Designs are brought to nothing where there is no counsel: but where there are many counsellors, they are established.
rec7 is offline   Reply With Quote
And now the bad news
Old 02-17-2012, 04:18 PM   #27
Recycles dryer sheets
 
Join Date: Aug 2011
Location: Atlanta
Posts: 420
And now the bad news

it is even worse for Football players:
"An estimated 60 percent of N.B.A. players are broke within five years of retiring, and 78 percent of N.F.L. players are bankrupt or under financial stress because of joblessness or divorce within two years, "

N.B.A. Players Return to Where They Once Hastened to Leave - College - NYTimes.com
__________________
SJ1_ is offline   Reply With Quote
Old 02-17-2012, 06:24 PM   #28
Recycles dryer sheets
 
Join Date: Jun 2005
Posts: 282
Quote:
Originally Posted by SJ1_ View Post
it is even worse for Football players:
"An estimated 60 percent of N.B.A. players are broke within five years of retiring, and 78 percent of N.F.L. players are bankrupt or under financial stress because of joblessness or divorce within two years, "
The reason it's worst for football players is because the minimum salary is much lower, I think. The minimum NFL salary 5 seasons ago was $285k, increasing each year in the league up to $720k for 10th year players. Probably nearly half the players on a team are around that level when you consider special teams and practice squad guys. Take away their agent fee and taxes and they're not actually able to afford the high life as much as they think they can.

The NBA minimums, with fewer players on each team, are about 60-70% higher than the NFL.
__________________
igsoy is offline   Reply With Quote
Old 07-30-2012, 09:30 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,883
Saved by a true friend...

Report: Allen Iverson is not broke because a friend was smart | ProBasketballTalk


http://bleacherreport.com/articles/1...ously-reported

What I find really interesting is that he may put a restraining order against himself so he won't give into temptation.
__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is offline   Reply With Quote
Old 07-31-2012, 01:04 AM   #30
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Quote:
Originally Posted by easysurfer View Post
Saved by a true friend...

Report: Allen Iverson is not broke because a friend was smart | ProBasketballTalk


Allen Iverson Is Not Broke After All | Bleacher Report

What I find really interesting is that he may put a restraining order against himself so he won't give into temptation.

Cool story

Every star should have a friend like that.
__________________
clifp is offline   Reply With Quote
Old 07-31-2012, 08:54 AM   #31
Full time employment: Posting here.
 
Join Date: Jul 2007
Location: ST LOUIS
Posts: 993
Well at least he will have a place to stay in.
http://www.theglobeandmail.com/sport...ontent=2344250
__________________
Proverbs 15:22 Designs are brought to nothing where there is no counsel: but where there are many counsellors, they are established.
rec7 is offline   Reply With Quote
Old 07-31-2012, 09:47 AM   #32
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
According to popular stories (like from Jay Leno) any NBA star could go broke from child support
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Old 07-31-2012, 10:02 AM   #33
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,372
Quote:
Originally Posted by easysurfer View Post
Saved by a true friend...

Report: Allen Iverson is not broke because a friend was smart | ProBasketballTalk


Allen Iverson Is Not Broke After All | Bleacher Report

What I find really interesting is that he may put a restraining order against himself so he won't give into temptation.
Thanks for posting this follow-up, ES. The publication in the OP ("Business Insider") obviously didn't do its homework on this one. Finally I'll be able to sleep at night, knowing Allen is not really broke .
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
Bestwifeever is offline   Reply With Quote
Old 07-31-2012, 11:43 AM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,883
Quote:
Originally Posted by yakers View Post
According to popular stories (like from Jay Leno) any NBA star could go broke from child support
Jay Leno is great with his zingers .

Speaking of Jay Leno, I've read that he hasn't spent a dime of the income he's earned from "The Tonight Show". I guess that's his rainy day fund.

Leno I Have yet to Touch a Dime Of My Tonight Show Salary. L Live Off The Money I Make As a Comedian | MSZAN
__________________

__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Phone solicitations going robotic Lsbcal Other topics 70 01-23-2013 02:29 PM
?s on self-employed 401ks Aiming_4_55 Young Dreamers 13 03-17-2012 08:55 AM
Who has tried this? (Living on a fixed amount to prepare for retirement) Frugalityisthenewblack FIRE and Money 52 02-24-2012 02:44 PM
What is your asset allocation for this year? NextInLine Young Dreamers 41 02-23-2012 08:40 PM
Wade Pfau on SPIAs Nords FIRE and Money 30 02-23-2012 04:13 PM

 

 
All times are GMT -6. The time now is 03:08 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.