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  1. #1
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    "If the facts don't fit the theory, change the facts." Albert Einstein
    "If your worried about falling off the bike, you'd never get on" Lance Armstrong
    "Dress cute wherever you go, life is too short to blend in." Paris Hilton
    "Money is one of the greatest instruments of freedom ever invented by man." F.A. Hayek

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    Re: Homeless 10 year NBA veteran

    I struggle to feel bad for those who make $2,000,000+ in a short period of time and then because of financial stupidity lose it all.



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    Re: Homeless 10 year NBA veteran

    I too don't feel bad for him. He could easily get some job. Coach kids basketball. Become a cashier at McDonalds. Something. No excuse for being homeless if you have a high school degree and don't have substance abuse issues.



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    Re: Homeless 10 year NBA veteran

    Quote Originally Posted by IcSyU View Post
    I struggle to feel bad for those who make $2,000,000+ in a short period of time and then because of financial stupidity lose it all.
    I agree it is hard to feel for those who blow it all, but if there is case in which you could this may be it. The guys who party it all away or just try to keep the big time life style going I have no pity for. Ray doesn't seem to be that guy. And I don't feel sorry for him because he had it all and lost it. I feel for anyone who tries and just can seem to get it together.




    "I believe the state color for Alabama should be primer," Larry the Cable Guy.

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    Re: Homeless 10 year NBA veteran

    Doesn't the NBA have a pension plan like the NFL does? If you played in the NFL for a certain number of years, you get a monthly check. The more years you played, the bigger the check. I thought all professional sports associations had something similar. If not, they should.



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    Re: Homeless 10 year NBA veteran

    Quote Originally Posted by Bipolarcy View Post
    Doesn't the NBA have a pension plan like the NFL does? If you played in the NFL for a certain number of years, you get a monthly check. The more years you played, the bigger the check. I thought all professional sports associations had something similar. If not, they should.
    Why? For an excuse to raise ticket prices?



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    Re: Homeless 10 year NBA veteran

    is he stupid or just lazy. don't see how sad comes into play - 92 Buicks are amazingly roomy.


    I was a victim of a series of accidents, as are we all.

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    Re: Homeless 10 year NBA veteran

    No sympathy for this loser. None. Once a millionaire, now a "victim" we're supposed to feel sorry for.



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    Re: Homeless 10 year NBA veteran

    The "Sad Tale" is there are thousands of American veterans that are homeless. I have a hard time feeling bad for some guy that blew through millions of dollars and ended up on the street.



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    Re: Homeless 10 year NBA veteran

    LAZY!!!!!!!!!!!!!!! This man obviously has no will to work for a living.



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    Re: Homeless 10 year NBA veteran

    Quote Originally Posted by Dopey View Post
    Why? For an excuse to raise ticket prices?

    Right, it would raise ticket prices. Most retirement funds come from a percentage of the worker's/player's salary. It wouldn't affect ticket prices at all.



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    Re: Homeless 10 year NBA veteran

    His older brother Gus is also a former NBAer and he has done quite well for himself since leaving the league.

    http://www.guswilliams.com/



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    Re: Homeless 10 year NBA veteran

    The point of the story is to watch out and be careful. Any point in anyone's life, things can completely fall out from underneath you and you have to be prepared for those situations. Save your money, take a certain percentage out of every pay check and put it into the bank. Just be careful and thankful you have a paying job that helps support you and perhaps others. On a side note, I think every professional athlete should have a financial advisor hired for them through their league. This could potentially help many athletes save their money. I say potentially because there are stories of athletes getting swindled by people they thought were helping them with their finances. An example is Richard Hamilton: Probe targets former business manager - NBA - Yahoo! Sports



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    Re: Homeless 10 year NBA veteran

    Quote Originally Posted by Bipolarcy View Post
    Right, it would raise ticket prices. Most retirement funds come from a percentage of the worker's/player's salary. It wouldn't affect ticket prices at all.
    ...or the player could do something crazy like assume a little personal responsiblity and save on their own without a forced retirement plan.


    CCG

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    Re: Homeless 10 year NBA veteran

    Wow, quite the compassionate crew on here.

    First of all, $2 million dollars is not that much money. The reality is that nearly everyone (NBA player or otherwise) lives up to their means...the more you make the more you tend to spend.

    Additionally, there are a lot of people that prey on these athletes...everyone from the hangers-on to shady financial advisors. I remember hearing about Brooks Robinson getting taken by an advisor and having to declare bankruptcy. Heck, I just heard this past week or so that Mark Brunell is having to do the same thing. Of course this is not unique to athletes...ever hear of Bernie Madoff or R. Allen Stanford...or just watch a few episodes of American Greed on CNBC.

    As for a pension...I think the NBA pension is qualified for after you complete 3 seasons in the league and you get a monthly check of $300 x the number of seasons played...so a 10 year vet would get a check of $3,000 per month after retirement. Not sure when benefit payments start.



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