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Steve Smith isn’t surprised some players are broke

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Plenty of NFL players burn through plenty of money, plenty of times in a given year.  Panthers receiver Steve Smith isn’t surprised by this dynamic, and he has a few ideas as to why it happens.

“Mismanagement of money doesn’t change because you have a lot of money, there are a lot of guys out there that make a lot of money and that make a little money and still live paycheck to paycheck,” Smith told WFNZ in Charlotte on Wednesday.  “You know, ignorance of how the financial game works or managing money doesn’t exclude you because you have a lot of it, it just enables you to make bigger and dumber mistakes because you have a lot of money.”

Smith also explained that players “sometimes mismanage and mistrust people that they shouldn’t have [trusted],” and that efforts to educate players only go so far, given the nature of how they are paid.  “Just because you are in the NFL doesn’t mean there is a different standard, a lot of people work paycheck to paycheck,” Smith said.  “I’ll tell you why so many players are broke, 17 weeks out of the year you get paid, and the rest, you have to manage.”

When players can’t manage, trouble can happen.  “Some people get dangerous, get desperate, and that’s how you get these guys that do drug runs and start driving down highways with kilos of marijuana just so they can get that fast cash.”

These are great points, and the NFL and NFLPA would be wise to come up with strategies for working against these realities, assuming that NFL and NFLPA are capable of working together in any capacity at the present time.  Maybe it’s as simple as converting base salaries to monthly or bi-weekly payments that are made throughout the course of the entire year.

Regardless, there has to be a better way to keep players from going broke, and it makes sense to rely on players who have lived the experience of getting a lot of money in a four-month period and little or no money for the other eight months when coming up with ways to help guys better handle their financial situations.

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72 Responses to “Steve Smith isn’t surprised some players are broke”
  1. TheWizard says: May 23, 2012 8:02 PM

    The solution is personal responsibility, and you can’t legislate it or litigate it.

  2. blacknole08 says: May 23, 2012 8:05 PM

    He’s right! He kept it one-hundred.

  3. jetsrkillinme says: May 23, 2012 8:06 PM

    When did Steve Smith become the voice of reason?

  4. truthfactory says: May 23, 2012 8:07 PM

    “…the NFL and NFLPA would be wise to come up with strategies for working against these realities, assuming that NFL and NFLPA are capable of working together in any capacity at the present time. ”
    ——–

    LOL… these are grown men who can’t manage anywhere between $400k-$15,000,000 per year salaries… and you suggest they be babysat on how to not be a moron and blow it all in 4 months??

    Sorry, if the general population can figure out how to make $40k-$100k/ year work, I have no pity for them…

    Not only that, if the NFL did try doing something, DeMoron Smith will have 15 lawsuits lined up crying that it wasn’t collectively bargained.

    What has happened to common sense in America???

  5. denverscott says: May 23, 2012 8:16 PM

    Give me 3 mill for 17 weeks worth of work and I guarantee I won’t be eating ramen at the end of the year.

  6. jeziyo247 says: May 23, 2012 8:17 PM

    I came to a conclusion, the NFLPA are treating these players like babies who can’t take care of themselves. How about just taking all the money they’ve earned and give them weekly allowance

  7. gweez76 says: May 23, 2012 8:17 PM

    You get rich based on what you save, not by what you earn.

    Thankfully my dad taught me that young.

  8. jets13 says: May 23, 2012 8:17 PM

    Sorry, if the general population can figure out how to make $40k-$100k/ year work, I have no pity for them…

    ——————————-

    where the hell have you been the last 5 years…..the general population has no idea how to live within their means, athletes are no different

  9. vinnysplit says: May 23, 2012 8:18 PM

    Actually, IMO their pay should be structured like a 401K. Say 60% now, 20% for when your say turn 55 but how about 20% to be paid out every year from retirement until 55. Even in the 60%, not just game checks but broken out through the year.
    You can’t baby them, but young men who are thrown fame and fortune and many come from “not so good” areas, are not going to be experts because they never had to be. Everybody did things for them. The NFL and NFLPA need to step in. They can get there money, but spread it out for them.

  10. jbpanthers says: May 23, 2012 8:20 PM

    “Some people get dangerous, get desperate, and that’s how you get these guys that do drug runs and start driving down highways with kilos of marijuana just so they can get that fast cash.”

    This does not bode well for the NFL.

  11. madenatewell says: May 23, 2012 8:22 PM

    Whether or not they’re paid bi-weekly shouldn’t matter. Sure, they’re only paid 17 weeks out of the year, but every fall they get paid 6 times or more the annual salary of the normal working joe. And that’s the low paid players…

  12. andrejohnsonforpresident says: May 23, 2012 8:26 PM

    Can the NFL start an investment firm? If not an investment firm catered to Pro Sports players needs to be created. A combined effort by the NFL rosters could result in big bucks!

  13. vikingamericann says: May 23, 2012 8:27 PM

    truthfactory | May 23, 2012, 8:07 PM EDT

    You are as clueless as the players who blow their money. It’s not about sympathy, pity or your jealousy. It’s about handing some 21 year old kid (not man) who was formally poor millions of dollars, then expect them to know how to handle money. The NFL spend a lot of time on this with rookie orientation, but unfortunately too many don’t listen.
    Perhaps, a simple biweekly pay scale will help some, with deferred income for the huge bonus they get. Still experience is the best teacher too bad it’s almost always learned through mistakes.

  14. pilot2011 says: May 23, 2012 8:28 PM

    I believe Steve Smith said he has always been interested in finance and has been interning somewhere in Charlotte for the past few years.

    So many people have such a distorted view of 89. He really is a good, smart dude if you know anything about him.

    HOF baby!

  15. nomoreseasontix says: May 23, 2012 8:28 PM

    It’s just like any other slice of society. The people with reasonable intelligence and some common sense get by just fine and live a nice life. The ones that are maybe not so bright and are lacking in common sense flounder.
    All the coddling in the world won’t change that.

  16. calhounlambeau says: May 23, 2012 8:32 PM

    TruthFactory, over half this country is in debt, most Americans who make $40-$100 thousand are in debt and can’t manage their money. Steve Smith is just pointing out that athletes and people who make lots of money are no different than anyone else, 6/10 people in this country are dead broke and living off of cards. I do agree that it’s not the NFL’s job to babysit adults, nobody at my work tells me how to manage my money, it’s not the NFL’s job either, these players have agents and the NFL has enough ‘help’ programs in place as is.

  17. pnthrz1 says: May 23, 2012 8:34 PM

    I hope to heck Steve Smith isn’t getting soft on us, lol. Great advice for his teammates and others, he’s lived and learned.

  18. Dynasty says: May 23, 2012 8:35 PM

    Pay them each month for entire year! Watch stats decrease. That alone forces management.

  19. profootballwalk says: May 23, 2012 8:35 PM

    You don’t need to pay players through the year. All they have to do is bank it as they get it – then it will be there ahead of time during the months they don’t get paid.

  20. laeagle says: May 23, 2012 8:35 PM

    Of course everyone’s going to get their panties in a wad about this, but it’s a good point worth raising. Yes, personal responsibility weighs heavy. Yes, it’s hard to believe that they can spend this kind of money. That doesn’t change the facts of human nature.

    The fact is, despite what “truthfactory” says, the general population isn’t all that great at managing their own salaries. That’s why there’s such a debt crisis. The fact is, people tend to spend what they make. Your salary goes up, your spending goes up. Human nature. Your salary goes down, somehow you’ll manage to make ends meet. Football players are no different.

    No one’s asking anyone to legislate or litigate anything. But it’s imbecilic to say “f them, they can’t handle it, tough.” Hooray, right wing cowboy! You win the hardball of the week award!

    As with ALL things, education is the key. We don’t tell our children that the world is a tough place, f them, personal responsibility will be your guide. We educate them. At the end of the day, everyone is responsible for themselves, but that doesn’t mean it’s a bad idea to educate people about fiscal responsibility, athletes or no. It’s a part of education that gets sort of put on the back burner.

    The NFL and the PA can both work to find ways to make this problem less likely to happen. You’ll never be able to save a true idiot, but a little bit of information goes a long way. A little bit of setting payments up so as to “nudge” (great book, by the way: “Nudge”, about human psychology and how we can do things more intelligently to help people make better choices) players to save more would go a long way.

    I’m sure all the right wing nut jobs are going to start crying “socialist!” but we’re talking about the players themselves working with the league to set up intelligent policies to guide people towards intelligent decisions. Not social programs, not welfare, not anything else like that. Just intelligence. Because helping to increase the number of people in society making intelligent decisions, while not a pure libertarian ideal, does help improve society as a whole.

  21. sjsharksfan11 says: May 23, 2012 8:39 PM

    Oh give me a break. I’d like to see him work a day in his life like us Americans who pay his ridiculous salary to PLAY a game.

  22. tweeter75 says: May 23, 2012 8:40 PM

    Millions of dollars for four months work? Called me old fashioned, but I think I could survive the other eight months out of the year on that.

  23. christopher525 says: May 23, 2012 8:43 PM

    For an example of poor management of funds, see the story on Kellen Winslow. Renting a house for $9000 a month, while rarely being there himself.

  24. laeagle says: May 23, 2012 8:48 PM

    Sure, a lot of people could. But statistically speaking, a lot of people wouldn’t. Again, it’s human nature to spend what is available when it’s available. There is no good or bad judgement in this, just a fact that if you pay people annual wages in lump salaries, the percentage of people who have financial issues will increase NO MATTER WHO THEY ARE.

    So, if you can bring the percentage of people with money problems down simply by spreading payments out throughout the year, wouldn’t that be a wise course of action? You can fight all the “could/should/would” you want about responsibility and how you’re so much better than football players, but if you can very easily bring down the number of people running out of money, it’s probably worth looking into instead of jumping to judgement.

    When you get a paid vacation, do you stop receiving a paycheck that month or week, or does your employer spread your payments out? Hmm, wonder why?

  25. say37 says: May 23, 2012 8:48 PM

    Paying players in smaller amounts spread over a longer period of time won’t work. They will just find a bank that will lend them a large chunk of cash for an assignment of player’s salary payments. The bank will do this charging interest of course and the player will be worse off than he would have been if you paid him all up front.

    I don’t know what it will take to stop some of these players going broke. If the NFL had a staff of financials that wouldn’t rob the players blind that might help. But then the player would still blame the NFL when he loses his money because he didn’t listen to his advisor.

    You can’t help some people.

  26. arlingtonassasin says: May 23, 2012 8:49 PM

    I left home at 18 and never went back. If a 21 yr old doesnt know how life works, theyve got it coming to them. Its called asking for help if you need it. Reputable help. The rest of the 99.9% of the population sheds no tears for these famous rich dudes that get paid gobs of cash to play a game.

  27. dmartin17 says: May 23, 2012 8:51 PM

    The players can choose to get the payments throughout the year or during the 17 weeks. Which do you think the irresponsible players choose??

    Can’t hold everyone’s hand. Though maybe a league/NFLPA mandated money manager would make sense…

  28. despinosa8 says: May 23, 2012 8:54 PM

    It would be smart for teams to pay a player in 26 bi weekly payment being they can keep the interest

  29. pesh00 says: May 23, 2012 8:57 PM

    Simple math but unfortunately…they can’t seem to figure it out. Let’s take a 5 yr/$50M contract that has $20M guaranteed.

    Now…assume the player signed that at 25. They need to think about the future…not now. There are many ways to calculate how much you should be living off but let’s make this simple. Assume that a normal person retires around 65. Essentially, of that $20M, how much would they need to live off to never need to earn again. Let’s assume $5M (disregard that NFL pension they’ll end up getting in addition). Now thats really $15M (i haven’t even gotten to taxes, etc, but making this simple).
    Take the $15M and divide that by the 40 years you are planning to live off…thats 375K per year.

    If you make more than your guaranteed $20M…thats all gravy but gravy comes when you make that. So let’s say your in year 4…you are going to make $10M in salary that year…add that separately to the same math i did and determine how much more you can live beyond the $375K.

    $375K is probably what most of these guys spend on their first car. They see the $20M and don’t realize what happens once 10 years once football don’t need you anymore….that $375K per year is no longer there if you spend it all.

  30. xenova1 says: May 23, 2012 9:00 PM

    Every year, the rookies are forced to attend a seminar educating them about money. If they don’t get the message through education and seeing examples of mismanagement of money by professional athletes, then it is there own fault if they end up broke. Do not blame the league or the nflpa. There is not much they can do except put the players on a monthly allowance so that they will have some money when their short careers end.

  31. busterdog1 says: May 23, 2012 9:00 PM

    I thought the coments were good ones and true. If you have never been a star player in anything you would not understand, they have been in the lime light since they were kids on the play ground. In high school and everything came easy for them they were the center of attention, same goes into college it was all made easy. The fame the money then they have people who are not there friends following them around and they never think it is going to end and never made provisions for the future. And they pay for there friends when they go places and need limo’s to get around. Dan Marino said he never went to anything away from the team that he didn’t drive his own car. And he was a star

  32. skinsfantom says: May 23, 2012 9:04 PM

    laeagle yeah that’s what we need, advice from some left wing loon, that’s working out really well for all of us. go back to mommy’s basement and wait until she calls you to dinner, leave the rest to the people that know what they’re doing, ya damn sissy.

  33. tx526 says: May 23, 2012 9:06 PM

    Maybe when these athletes got their free scholarships to college they should have taken a couple of finance classes instead of going the basket weaving route. Most knew out of high school that they would be special and make it in this game yet they love to keep blaming the billionaires who made them millionaires for being back to step one. BROKE!

  34. redrobots44 says: May 23, 2012 9:08 PM

    Who in their right mind gave the FIRST COMMENT a thumbs up?

  35. redrobots44 says: May 23, 2012 9:10 PM

    I meant thumbs down whoops

  36. laeagle says: May 23, 2012 9:13 PM

    Every year, the rookies are forced to attend a seminar educating them about money. If they don’t get the message through education and seeing examples of mismanagement of money by professional athletes, then it is there own fault if they end up broke. Do not blame the league or the nflpa. There is not much they can do except put the players on a monthly allowance so that they will have some money when their short careers end.
    ***********************************

    Seriously man, get over yourself. No one is blaming the league or the NFLPA. And at the end of the day, everyone is responsible for themselves. That’s true. That doesn’t mean that there aren’t intelligent things that can be done to deal with the problem instead of blaming football players for succumbing to human nature.

    The seminar you describe is a great start. I’m sure that other ongoing education programs could help more. Instituting more intelligent payment schedules would help even more.

    No one’s blaming anyone but it’s obvious that simple things can be done to help the players, by the players and the league instituting policies designed to do so without much hassle.

    Frankly, this is a cut and dry issue and it gets very tiresome hearing people use it as an excuse to get on their soapbox about how football players get paid too much or about how awesome they themselves are at personal accountability. How much football players get paid is irrelevant. Personal responsibility is irrelevant, too, to the extent that regardless of your feelings about personal responsibility, human nature works a certain way and you can design around it in such a way to easily help people help themselves.

  37. trojan33sc says: May 23, 2012 9:16 PM

    The NFLPA does have a retirement plan that every ballplayer “pays into” starting from their rookie year however they are not vested until after the end of their 3rd season. (Got to see the plan when i worked at Prudential years ago for an old team mate turned pro.) O.J. Simpson receives around $53k per month which is not bad considering how long ago he played. So they do take care of the former players but you can see by the Head injury lawsuit that the majority of these guys are completely out of touch with the concept of money management even after the annual “rookie orientations” telling them that very same thing. They only see the immediate $$$ and are too stupid to visualize that the average football career is less than 3 years. Combine that with the majority not taking legitimate courses in college let alone one accounting class these guys are Toast ! The can’t all become sports news analyst.

  38. drudema says: May 23, 2012 9:16 PM

    Since most athletes can’t seem to figure out how to manage money and since it is not their own fault that they are to stupid to do what the rest of the population does. How about making it a requirement for college athletes to attend financial planning in college. A set curriculum that requires them to attend if they want to attend college for free. Not that most of them would learn anything, but maybe something or enough of something would stick with them that would make it difficult to plead ignorance.

    I think its pathetic and sad that it’s even suggested that the NFL or NFLPA need to help them out. Isn’t that what all those game checks are for? I don’t think I could ever feel sorry for a multi-millionaire athlete who goes broke based on financial ignorance.

  39. botchedextrapoint says: May 23, 2012 9:35 PM

    I used to be a school teacher and a few years ago I went to a seminar on poverty. Poor, middle class and wealthy people operate under very different value systems. Poverty causes people to live day by day, just surviving. A lot of these players who grew up poor have a whole community of people behind them. The expectation is there that when a person runs into money they will share it with community. Michael Vick was the classic case of a player who surrounded himself with friends and family and burnt through all of his money with houses, cars and jobs. A kid doesn’t flick a switch at 21 when they get their first big cheque and change value systems overnight. We expect these guys to change from a value system informed by poverty to handling great wealth while displaying middle class values.

  40. taintedsaints2009 says: May 23, 2012 9:37 PM

    barack! obamaaaaaaaaaa!!!!!! savior of the universe!!!!!

  41. ripster65 says: May 23, 2012 9:38 PM

    Nice! Sounds like he get’s it. I do get a chuckle out of the “I’ll tell you why so many players are broke, 17 weeks out of the year you get paid, and the rest, you have to manage” comment. Makes it sound as though they blow through millions of $$$ (or whatever any given player makes in a season) in 17 weeks and they’re broke the rest of the time.

  42. redskinsrt says: May 23, 2012 9:42 PM

    Let’s not pretend that some don’t just blow it by living extravagantly.

  43. godofwine330 says: May 23, 2012 9:47 PM

    Players no thinking about the future. Players not paying things off (house/car) since they have the money choosing instead for payments that will mean thousands or hundreds of thousands in lost wasted money. Buying mansions for their mothers to show how much they love their mama, only to have it foreclosed because they got cut and couldn’t afford it anymore when they could have bought her a 3 bdrm condo instead for a third of the money or less.

    There are many things players fail at when it comes to money that only the education of the player can fix. Most players don’t seek education until it is too late. Many players come from nothing or not much, and having no one around you from an early age that knows anything about money, its worth and saving it accounts for more than half of the broke players. The league minimum is near $400k for one year, but they have to make what they make in their 20’s last their whole lives and that is difficult.

  44. truthfactory says: May 23, 2012 9:52 PM

    calhounlambeau says:
    May 23, 2012 8:32 PM
    TruthFactory, over half this country is in debt, most Americans who make $40-$100 thousand are in debt and can’t manage their money. Steve Smith is just pointing out that athletes and people who make lots of money are no different than anyone else, 6/10 people in this country are dead broke and living off of cards. I do agree that it’s not the NFL’s job to babysit adults, nobody at my work tells me how to manage my money, it’s not the NFL’s job either, these players have agents and the NFL has enough ‘help’ programs in place as is.
    ————————

    While half the country may be in debt, 75% of us do not go bankrupt at the age of 40 (and we hadn’t earned 10’s of Millions of dollars by then either). I never said we are debt free, I said we “figure it out”… which means most of us that have debt have not blown millions of dollars and are now drug dealers with 100’s of pounds of coke in our car either

  45. jebdamone says: May 23, 2012 9:54 PM

    love me some steve smith

  46. ghoststalker83 says: May 23, 2012 9:55 PM

    I think what happens is they sign a contract and think that money will never run out and when it does and football no longer requires there services they either don’t know how to hold down a regular job or run a business so they go broke and file lawsuits against the league for things like concussions cause there broke. Some of those claims may be warranted, but I’d like to see how many of those former players are either broke or are in serious financial trouble. Don’t bite the hand that feeds you until you don’t work for them anymore and are a brokeass living in your mommas basement.

  47. jagsfanugh says: May 23, 2012 10:05 PM

    “tweeter75 says:
    May 23, 2012 8:40 PM
    Millions of dollars for four months work? Called me old fashioned, but I think I could survive the other eight months out of the year on that.”

    Most don’t make millions of dollars a season. You think the long snapper makes millions????

  48. txxxchief says: May 23, 2012 10:17 PM

    laeagle:

    Your comments are simplistic and misinformed. You would probably consider me one of the “right wing nut jobs” that you apparently despise.

    Spreading out the player’s salaries will have no effect on their lavish, reckless overspending. Many players already borrow in advance of future earnings, and spreading out the payments will not change the system.

    Fools must suffer the consequences of their actions. Many athletes are coddled throughout their upbringing and have often been shielded from the repercussions of their decisions. The NFL offers them free guidance and financial advise, but many choose to ignore what they hear.

    Many persons at lower income levels make poor financial decisions as well, and our society has developed a sense that one must have been wronged in some way as an excuse for our own errors and defective judgement.

    Witnessing these facts are the lawsuits against the NFL for concussions and the many advertisements on television enticing persons to join the latest victimhood lawsuit.

    Maybe there is a lack of effective parenting in some families, but eventually, every individual must pull up their big boy pants and decide to take ownership of his own life.

  49. spinmovr says: May 23, 2012 10:31 PM

    A) Stop comparing your lifestyle and perspective to the lifestyles of pro football players. Each side sees things the way they see them and you’re no more “right” than they are “wrong.”

    B) I don’t recall anybody anywhere in the “news” story suggesting fans should feel sorry for players or anything like that. The fact that every commenter jumped to (and subsequent commenters reacted) that conclusion is proof that hating is just the nature of PFT commenters.

    C)Smith is giving a small glimpse into the lifestyle of an NFL player. Take it for what it’s worth and stop trying to speculate on all of the details he DIDN’T share.

    D) Stop hating. Real men don’t hate.

  50. ripster65 says: May 23, 2012 10:34 PM

    hehe…”Most don’t make millions of dollars a season. You think the long snapper makes millions????”…ok, whatever the amount is.

  51. yaytaco says: May 23, 2012 11:00 PM

    So many of these comments are off. Everyone should read this article on why players go bankrupt. Yes, there’s lots of idiots that just blow it on extravagance, but that’s not why ~80% of NFL players go bankrupt. The NFL should absolutely put an emphasis on financial training for new rookies. Better than whatever they’ve got. It’s not going to help everybody, but I do know when 8 of 10 guys you see get drafted end up going bankrupt…it’s going to end up helping enough to lower that number.

    http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364/1/index.htm

  52. thehawg says: May 23, 2012 11:07 PM

    Im broke too, only make 50k a year, more you make, more you spend, at least we stimulate the economy. Too bad a portion of our assests are going to settle legal obligations. Due to a settlement of a divorce.

  53. sixburghrules says: May 23, 2012 11:07 PM

    I think you all have said what I would have said! stuff in check

  54. lanjoith says: May 23, 2012 11:19 PM

    Do you realize it would take a person 30 years of making $100k a year (a great salary) to make $3 million dollars? These athletes have no one to blame but themselves. To burn through millions and be broke by the time you retire is obscene. Just as an example, TO played in the NFL from 1996 to 2010, 15 years, and reportedly made $81 million in that time. That averages to 5.4 million per year. It would take a person 30 years of making $180,000 a year to make what TO averaged making in just one year. Mind boggling.

  55. anarchopurplism says: May 23, 2012 11:20 PM

    Spreading payments out wont help. The issue is dealing with the discipline of saving.

    You could argue that being low on the cash during the 1st year of a contract may hopefully encourage them to be wiser in future years.

  56. blackgallagher says: May 24, 2012 12:54 AM

    I am willing to put up $100 that the majority of broke NFL players come from the SEC conference.

  57. deetrain11 says: May 24, 2012 1:27 AM

    All of you posters that CONSTANTLY trash the players and always have such negative opinions of them…..WHY are you so infatuated with reading stories about them so much??? I bet you play in multiple fantasy leagues too. You just seem to be so jealous of them, and some of u say that they need to work a real job and bring up free college scholarship and all, when we all know that they are earning universities BIG BUCKS for all other programs and however the amount of money they make and some blow…..when sunday comes around, all of you folks that despise them so much. YOU WILL BE WATCHING THOSE SAME PLAYERS THAT YOU THINK UR BETTER THAN!!!!!

  58. honkerdawg says: May 24, 2012 2:47 AM

    Have to agree with “truth factory” everyone else can manage their money, maybe they should have paid attention when they got that FREE college education

  59. bears354 says: May 24, 2012 3:18 AM

    Just throwing it out there, but the NFL does have a rookie symposium every year. Part of that is to explain the dangers of overspending. It’s purpose is to inform rookies to save and invest their money. I do not feel sad for the players who don’t listen to the advice. Furthermore, their agents should be helping them out, not just collecting a paycheck once the contract is signed.

  60. hedleykow says: May 24, 2012 4:13 AM

    I always thought you would have to work at it pretty hard to burn through tens of millions of dollars, and you might have to stay up nights to figure out a way to burn through a hundred million in one lifetime.

    Professional athletes must have a secret I don’t know about.

  61. joetoronto says: May 24, 2012 5:40 AM

    I can’t stand how everyone is a victim nowadays.

    People who make millions of dollars to play football are victims. They blame the money machine that spews out the money for their recklessness.

    The greatest hockey player in the world, Sidney Crosby, lived with a former player for his first 5 years in the NHL.

    THEN he bought his first house.

    Some people get it, some people don’t.

  62. joetoronto says: May 24, 2012 7:12 AM

    • By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

  63. veence69 says: May 24, 2012 7:32 AM

    Idiots. If you sign on the line and get a $5,000,000 bonus just for doing so, then file for bankruptcy 7 years later? You’re a moron and I have no pity for you.

    McD’s is hiring.

  64. eaglesw00t says: May 24, 2012 7:42 AM

    “A lot of people live paycheck to paycheck”

    ———————————-

    Really, Steve Smith? A lot of normal people live paycheck to paycheck because they are struggling to afford the electric bill, utilities, AND their property taxes.

    I dont think any of my neighbors live paycheck to paycheck because they “needed” another Bentley, or another Rolex, and drank 3 bottles of Cristal…

    Steve, youre out of touch with real people. Dont pretend people who make multiple millions per year have ANYTHING in common with people who make 50k.

  65. jagsfanugh says: May 24, 2012 8:42 AM

    “joetoronto says:
    May 24, 2012 5:40 AM
    I can’t stand how everyone is a victim nowadays.

    People who make millions of dollars to play football are victims. They blame the money machine that spews out the money for their recklessness.

    The greatest hockey player in the world, Sidney Crosby, lived with a former player for his first 5 years in the NHL.

    THEN he bought his first house.”

    Well i disagree that Crosby is the greatest but i also think that in real life you are a lilly white boy. I guess you don’t get it. Bad investments, Entourage, family and a host of other things happen. Learn about life little one.

    Some people get it, some people don’t.

  66. totallydisgusted says: May 24, 2012 8:47 AM

    Whatever you are when you are poor you will be worse when you are rich. Personal responsibility does play a part but you also have to realize that some of these athletes didn’t think they would live to see 25. How do you expect people who for the most part have never had any money to know how to be fiscally responsible all of a sudden. Education is the key and if the league has to teach it to them then so be it.

  67. yahmule says: May 24, 2012 9:07 AM

    Steve Smith needs to keep money available for his defense fund every time he sucker punches and beats an unsuspecting teammate.

  68. rdsknguru says: May 24, 2012 9:33 AM

    For most of us people who work regular jobs, if we were paid our entire year’s salary in the first four months, most of us would be broke before the end of the year. Put these guys on a weekly salary for 52 weeks out of the year. That should help many of them who live check to check.

  69. joejgibbs says: May 24, 2012 9:47 AM

    When you go from being financially irresponsible and poor/middle class, to being financially irresponsible and rich, nothing has changed except the fact you have the means to really be financially irresponsible. Once you turn into a pro athlete you don’t magically turn into Greenspan. It’s probably a good idea for the NCAA to step up and school the athletes before they get to the NFL–instead of waiting until they are knee deep in a lifestyle full of bad decisions.

  70. joetoronto says: May 24, 2012 10:08 AM

    jagsfanugh:

    Yes sir, da man is obviously keeping you down.

    It’s never your fault though, remember that.

  71. laeagle says: May 24, 2012 10:28 AM

    Funniest things in this entire thread: complaining about how everyone is a victim nowadays, and using Sidney Crosby as an example of how not to be one.

  72. fdugrad says: May 24, 2012 1:12 PM

    I’m a public school teacher of some forty years. I appreciate all the comments about providing financial education, it is a great start for all rookies ( and veterans who are open to receiving ONGOING instruction ). The problem is not with the educational programs offered or attended. It is the maturity of the individual player and whether he LISTENS to the advice and then implements the valuable lessons.

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