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Sad news regarding Jack Johnson. Apparently his parents sucked him dry financially and he had to file bankruptcy at age 27.
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Read about that in the mgoblog forums. Sickening.
Absolutely sickening.
And I wish that so many athletes didn't have these blind spots. Fucks sakes, you don't need some financial "wizard" to take control of your finances. Just walk in off the street to your local financial advisor's office and ask him to set up a portfolio for you along with quarterly counseling sessions. You don't need a Harvard MBA to do this.
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It's one of those "shocking but not surprising" situations. His parents are the real idiots here. I can understand a 20 year-old kid relying on his parents' guidance when he comes into millions of dollars. What is unfathomable is that they blew his future earnings like that. This is the first I've heard of people monetizing their contracts. WTF? Can't live on $2-$5 million a year? Even if the parents wanted to lavish themselves with nice things, why in the hell would you buy a house with a personal loan at 12% and other loans as high as 24%? You have access to the money as it is! There is a shocking level of stupidity in the world.
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Uh....it is stereotype dumb jock syndrome. He is hardly unique. Look at all the athletes that are broke after waisting millions on sucker bets. It doesn't stop there. In my practice clients receive millions in settlements and then piss the money away. We are trial lawyers not financial advisors so we advise our clients to seek sound financial advise. Those that don't lose out. same as lottery winners. want to know the scam game read God bless you Mr. Rosewater by Kurt Vonnegut.
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Originally posted by Hannibal View PostRead about that in the mgoblog forums. Sickening.
Absolutely sickening.
And I wish that so many athletes didn't have these blind spots. Fucks sakes, you don't need some financial "wizard" to take control of your finances. Just walk in off the street to your local financial advisor's office and ask him to set up a portfolio for you along with quarterly counseling sessions. You don't need a Harvard MBA to do this.
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Originally posted by Mike View PostGOOOOOOAAAALLLLL!!!! Hockey GOOOOOOAAAAALLLLLL!!!!!!!
2-0 Michigan late 2nd. We are Harbaughing the shit out of Sparty.Repugnant is the creature who would squander the ability to lift an eye to heaven, conscious of his fleeting time here.
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Sorry I missed your post, Paul. It was on FSD+ if you have it.
Michigan wins the 50th annual GLI. Steve Racine was outstanding, stopping 70 of 72 shots in the tournament en route to MVP honors. Hopefully, this leads to a strong 2nd half. Harbaugh is already paying off!
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Originally posted by Mike View PostSorry I missed your post, Paul. It was on FSD+ if you have it.
Michigan wins the 50th annual GLI. Steve Racine was outstanding, stopping 70 of 72 shots in the tournament en route to MVP honors. Hopefully, this leads to a strong 2nd half. Harbaugh is already paying off!Repugnant is the creature who would squander the ability to lift an eye to heaven, conscious of his fleeting time here.
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