Clutch03 Posted May 19, 2011 Share Posted May 19, 2011 When I was 21 I was making over 200K per year.Peanuts compared to a pro athlete, but a good amount of money nonetheless. That said, I have nothing to show for it now. Nothing at all, well except for a couple nice suits and some $500 shoes:ols:. Making that much money before learning how to manage it is a recipe for disaster. This. Having a lot of money doesn't mean you know how to manage it. Just like, just because your a 7 footer that doesn't automatically make you a great basketball player. Or just because your beautiful doesn't make you a model. Chris Rock said it best. "Wealth you can not get rid of. However if your just rich than you can lose all your money with a bad cocaine problem over a weekend in Vegas. Shaq is rich. The family that owns the color blue is Wealthy!" Link to comment Share on other sites More sharing options...
More Complete Posted May 19, 2011 Share Posted May 19, 2011 He mentioned this morning on the Junkies that he has four houses. His local home is on the market. Link to comment Share on other sites More sharing options...
VRIEL1 Posted May 19, 2011 Share Posted May 19, 2011 Alright I'll esplain it to you the best I can........ See, it's all the owners fault. Especially with Carlos. Snyder failed to sign him to a big contract. Snyder failed to show him how to save. Snyder is one of the greedy owners who is holding his current money. Basically it's all the Redskins/Snyder's fault. Link to comment Share on other sites More sharing options...
da#1skinsfan Posted May 19, 2011 Share Posted May 19, 2011 Did he address the "broke" comments in the interview? Link to comment Share on other sites More sharing options...
iMeast Posted May 19, 2011 Share Posted May 19, 2011 Hmmm ... How are they ... HTTR Link to comment Share on other sites More sharing options...
Hubbs Posted May 19, 2011 Share Posted May 19, 2011 He dropped the money on the way to the bank. Typical of the way he plays CB Link to comment Share on other sites More sharing options...
More Complete Posted May 19, 2011 Share Posted May 19, 2011 Did he address the "broke" comments in the interview? Not to my knowledge but I only heard a portion of it. Link to comment Share on other sites More sharing options...
zoony Posted May 19, 2011 Share Posted May 19, 2011 When you're 22 years old and you've just signed for $30 million (or however much his original contract was) I would imagine that the vultures start circling. Everyone wants a piece of your action. Car salesman, agents, realtors, homies, random people with "sure thing" business ventures, friends, family, extended family, insurance salesman, etc. All in line to get as much from you as they can, while they can. Add in the pressure of living like you are told you're supposed to (big house, big cars, etc.) plus equal parts ignorance about all things money (which I'm not saying is his fault), it's not hard to imagine why some current NFL players are broke and why many ex-NFL players are broke. .... Link to comment Share on other sites More sharing options...
capcrunch98 Posted May 19, 2011 Author Share Posted May 19, 2011 Did he address the "broke" comments in the interview? I only heard part of the interview before I had to get out of the car and go to work. Carlos talked about how much other CBs were making, and it sounded like he did his homework. He talked about some contracts given to guys who "didn't even make the Pro Bowl." He threw out the figure of $20 million for a signing bonus, but acknowledged that he and his agent "hadn't really talked about money yet" (yeah right). One of the Junks was either trying to suck up to Carlos or put a little too much Bailey's in his coffee, because he predicted a $30 million guaranteed signing bonus for Carlos, who in turn said he would like that a lot. They asked Carlos what he has to say to Redskins Nation, and he said he doesn't worry about the criticism he gets, and there are plenty of people who have come up to him and begged him not to go, and "some fans said if I leave they are going to change their team." I am sure these "fans" were probably his parents. Link to comment Share on other sites More sharing options...
zoony Posted May 19, 2011 Share Posted May 19, 2011 and there are plenty of people who have come up to him and begged him not to go, and "some fans said if I leave they are going to change their team.". :ols: his agent, his parents, his dog, and Jason Campbell Link to comment Share on other sites More sharing options...
bedlamVR Posted May 19, 2011 Share Posted May 19, 2011 and there are plenty of people who have come up to him and begged him not to go, and "some fans said if I leave they are going to change their team." . I always said those Cowboys fans were flighty ... Link to comment Share on other sites More sharing options...
skinfan2k Posted May 19, 2011 Share Posted May 19, 2011 if football players were smart with their money they wouldn't be football players Link to comment Share on other sites More sharing options...
HailGreen28 Posted May 19, 2011 Share Posted May 19, 2011 As mentioned here: LINK All football players should be required to take the Bobby Bonilla Financial Course, during their first year in the NFL. Another good link here: LINK Link to comment Share on other sites More sharing options...
pjfootballer Posted May 19, 2011 Share Posted May 19, 2011 I've always been kind of a frugal guy and my parents taught me at a young age to save for retirement. I would have taken half my bring home salary and put it in a retirement account. I imaging I could live off half my NFL salary and still be doing very well. ---------- Post added May-19th-2011 at 04:53 PM ---------- Broke, stupid and unable to catch an INT is no way to go through life son.... Link to comment Share on other sites More sharing options...
ADF Posted May 19, 2011 Share Posted May 19, 2011 When you're 22 years old and you've just signed for $30 million (or however much his original contract was) I would imagine that the vultures start circling. Everyone wants a piece of your action....... I believe he signed a 5 year contract worth a maximum of 17 mil. Then there are taxes and he probably didn't reach all the incentives to maximize the contract. If he did all the dumb things you mentioned, I wouldn't be shocked if he is in debt. He was hoping to sign a big contract last year but not having a CBA killed that. Link to comment Share on other sites More sharing options...
phishisthegreatstuff Posted May 19, 2011 Share Posted May 19, 2011 1 word...ignorance Link to comment Share on other sites More sharing options...
JPCreativelab Posted May 19, 2011 Share Posted May 19, 2011 As mentioned here: LINKAll football players should be required to take the Bobby Bonilla Financial Course, during their first year in the NFL. Another good link here: LINK one word. wow. Link to comment Share on other sites More sharing options...
Chanhillbilly Posted May 19, 2011 Share Posted May 19, 2011 I know his house was in foreclosure back in the fall. I don't know how someone who has earned millions and is still getting a paycheck forecloses on a 550k townhome. Link to comment Share on other sites More sharing options...
HRNY4ZRNY Posted May 19, 2011 Share Posted May 19, 2011 The only time I saw Carlos in person he was going into pickup a pizza from Dominoes. At the time I thought that was cool because he had so much money why didn't he just get it delivered. Now I realize if he would of tipped the delivery driver he would have over-drawn his account. Carlos, Haynesworth, and McNabb dont want to be here. I say let em all go. Just try to get a few draft picks for Worthless and McNubbs so we can make a great package deal and get Andrew F'N Luck! Link to comment Share on other sites More sharing options...
authentic Posted May 19, 2011 Share Posted May 19, 2011 one word. wow. "wow" may be an understatement. However, good for them! Link to comment Share on other sites More sharing options...
boofMcboof Posted May 19, 2011 Share Posted May 19, 2011 Honestly, I don't even know where all my money went when I was in my 20s. Link to comment Share on other sites More sharing options...
skinsfan190 Posted May 19, 2011 Share Posted May 19, 2011 Los is delusional. He's not going to get top CB money. His total contract might be worth 20 mil def not the signing bonus. He is going to be very disapointed. He is an above average cover corner with 0 playmaking ability plus he's about to turn 30. He can kick rocks for all I care. I don't want him back. The fact that he has blown all his money away doesn't suprise me. It's sad tho because he's probably counting on a huge payday and it's not gonna happen ---------- Post added May-19th-2011 at 06:58 PM ---------- Just like average joes who live paycheck to paycheck alot of these athletes do the same. Their liferstyle of the cars, jewery, girls is just way more expensive. It's very irresponsible tho. U don't need 8 cars that u don't drive. You don't need watches and chains that cost $20,000. Link to comment Share on other sites More sharing options...
Bootleg Posted May 19, 2011 Share Posted May 19, 2011 Same reason almost everyone else is. And you can't ever underestimate peer pressure. You can claim you'd do this or that with your money, but this isn't like winning the lottery where you are the rich one and no one else is. As a professional athlete, you have to deal with the culture that goes along with it. It's the same thing you'll face as an investment banker in New York where the first annual bonus may go towards a new BMW, the second annual bonus will go to a home in the Hamptons, and the third may go to a yacht, and so on. You'd probably be wiser investing that money but.... I, too, like illone have probably made more than 90% of people when I graduated from college but only now am I starting to actually have a positive net worth. I'd like to think that I wouldn't be anywhere near foreclosure or bankruptcy if I were a professional athlete. And I probably wouldn't be, but realistically, I don't think I'd have a high net worth either unless I extended my playing career to a second contract. Link to comment Share on other sites More sharing options...
Laxpunk2006 Posted May 19, 2011 Share Posted May 19, 2011 It's easy to criticize Rogers but 90% of the people in this thread are "in debt." What do you think that mortgage and credit card bills are? Carlos was expecting a payday that didn't come last season so while it's still not financially responsible its easy to see how he could have misjudged his earnings. Link to comment Share on other sites More sharing options...
lavar1156 Posted May 19, 2011 Share Posted May 19, 2011 http://www.nytimes.com/2011/03/05/your-money/05wealth.html Great article on how Paul Posluszny manages his money. Link to comment Share on other sites More sharing options...
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