This. . Sorry but that is a wasteful purchase with the contract he has. Couple more years...different story.
Monte Morris gave his mom a Porsche for Christmas
- Thread starter ChrisMWilliams
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Really not a ton of money in today’s world. Especially since it’s under 2 after taxes.
I'll fund my retirement, I'll save for a rainy day, and I'll get financial advice from solid sources, but you leave my weed out of this.
I think that Monte and his mom are pretty shrewd. After all, for a while, Monte was dating someone who had more money than he did!
So lets say that he went on a spending spree and spent half of that $2,000,000.
If he dumped the other half in a simple index fund, he would have earned enough in profits alone to pay for that car and still have his million dollars.
This is a tricky one. I've heard you should not spend over 20% of your yearly income on a car. So if you make $100k/year, the most you should spend on a car purchase is $20k. A couple of things change this scenario for MM.
#1 This is an additional purchase since it's for his mother. I don't know what MM drives.
#2 With most people you can assume their salary won't have huge fluctuations. 99% of NBA players will make the most when they are in the NBA and then see a drastic decrease. The average NBA player last 4.5 years in the league.
#3 I know nothing else about how MM spends his money.
I don't care one way or another and it's MM's money to do with it what he wants.
Perfectly reasonable response, but I'm really interested in what our resident finance guru isuno1fan has to say about it. Apparently making $3MM over the course of two years doesn't put you into luxury car territory. He should have bought her a Nissan Sentra.
Only 20% on a car, dang I dont know anyone that follows that rule.
I’m sure his career won’t end with that. He’s likely to earn 4.7 mil by the time that contract is up. Plus, if he gets cut from the NBA by then, he would do just fine in Europe.
I would love to know what universe you live in where 3million isnt a lot of money.
While I agree with the notion many athletes spend their money poorly, I don't consider buying your mom a car for Christmas to fall under that. Now, if he was buying all his friends these kind of things, that would be a different story.
Also, Monte is going to get a big contract next year from someone, so I wouldn't worry too much about his finances.
Also, Monte is going to get a big contract next year from someone, so I wouldn't worry too much about his finances.
Monte could have just bought his Mom a nice Toyota Camry or Chevy Malibu. No need or practicality for the Porsche, this is wasteful, and I love Monte, but someone needs to have a come to Jesus moment with him. He came from pretty much nothing, but he owes it to himself, his mom, and any future family he might have to make sure the lifestyle is a permanent change and blowing it on extravagant things like this is certainly not a step in the right direction. He's playing well right now, but for bench guys like him, nothing is a guarantee forever. Wait til you're making Jamal Murray money to go buying stuff like that.
Possibly. Markets go up and down though ya know. His money his choice though.
It's a 718. The base price is around $58,000.
It’s a silly purchase but one that is his choice. That’s all. Nothing more.
You know nothing about the purchase. I know a pro athlete that gets special and I mean special lease rates from a dealership.
Good for Monte. I’m sure he loves being able to take care of his mom after all she has done for him.
Porsche’s are upper middle class luxury brand. Everyone needs to back off telling him this was a stupid purchase. It was probably much less than his season 2 pay bump on his 3 yr deal. He’s well on track to get a 2nd contract and even if he doesn’t he has Europe or his 4yr degree to fall back on.
Porsche’s are upper middle class luxury brand. Everyone needs to back off telling him this was a stupid purchase. It was probably much less than his season 2 pay bump on his 3 yr deal. He’s well on track to get a 2nd contract and even if he doesn’t he has Europe or his 4yr degree to fall back on.
This thread went about the way I expected it to.
