This. . Sorry but that is a wasteful purchase with the contract he has. Couple more years...different story.Makes sense that 60% of NBA players are either bankrupt or under financial stress within 2 years of being out of the league.
This. . Sorry but that is a wasteful purchase with the contract he has. Couple more years...different story.Makes sense that 60% of NBA players are either bankrupt or under financial stress within 2 years of being out of the league.
Really not a ton of money in today’s world. Especially since it’s under 2 after taxes.The dude has 3 million guaranteed. I don't think an 80K car is going to break him.
Seriously depressing show. Amazing how many were swindled out of their money
So, kids, fully fund your 401k, put some cash to the side, stay off the weed, and get a respected financial advisor without power of attorney
Monte's mom is cool as hell. She was partying it up with Clone fans in the P&L Irish bar after Monte buried that buzzer beater against Texas in '15.
Really not a ton of money in today’s world. Especially since it’s under 2 after taxes.
This. . Sorry but that is a wasteful purchase with the contract he has. Couple more years...different story.
What's an acceptable amount of income to buy a Porsche?
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.
Only 20% on a car, dang I dont know anyone that follows that rule.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.
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.Really not a ton of money in today’s world. Especially since it’s under 2 after taxes.
I would love to know what universe you live in where 3million isnt a lot of money.Really not a ton of money in today’s world. Especially since it’s under 2 after taxes.
Possibly. Markets go up and down though ya know. His money his choice though.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.
3 million isn’t really 3 million as I stated. Uncle Sam has a say in it.I would love to know what universe you live in where 3million isnt a lot of money.
It's a 718. The base price is around $58,000.This. . Sorry but that is a wasteful purchase with the contract he has. Couple more years...different story.
What's an acceptable amount of income
It’s a silly purchase but one that is his choice. That’s all. Nothing more.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.
You know nothing about the purchase. I know a pro athlete that gets special and I mean special lease rates from a dealership.It’s a silly purchase but one that is his choice. That’s all. Nothing more.