Comments on: Jevon Kearse having IRS, mortgage problems

By: rajbais

rajbais — Tue, 12 Mar 2013 22:15:25 +0000

This should be no surprise. If he was recommended by Drew Rosenhaus to be with Jeff Rubin, a crooked financial adviser that bilked millions from NFL players, his finances would be in trouble.

By: flipola

flipola — Fri, 08 Feb 2013 17:28:11 +0000

Now now, no need to… freak out.

See what I did there? You see what I did?

By: Sometimes Interesting

Sometimes Interesting — Fri, 08 Feb 2013 11:54:32 +0000

The NFL should take a % of these guys game checks and put it into an NFL-subsidized 401k.

By: joetoronto

joetoronto — Fri, 08 Feb 2013 09:53:46 +0000

“Kearse bought a 6,064-square-foot home for $6.05 million in 2004 and signed a $5.25 million mortgage on it two years later. Kearse bought the home shortly after receiving a $16 million signing bonus from the Eagles”

You should listen to your accountant MOST of the time, but not ALL of the time.

Buying the house outright would have given him piece of mind. Even with the value dropping like it did, he’d still have the house to live in and the value would go up eventually.

Accountants would tell you to take the mortgage because the low interest rate will be more than offset by the return on investment.

By: stopdk12

stopdk12 — Fri, 08 Feb 2013 04:49:33 +0000

i’m sure he still has a lot of friends, Car washes, and Restaurants to fall back on…

and those guys on pawn stars love diamond encrusted #34 rings, pendants, and earings…i’m sure he’ll be fine.

By: bobgb2000

bobgb2000 — Fri, 08 Feb 2013 01:58:20 +0000

Cry me a river…….

By: mjkelly77

mjkelly77 — Fri, 08 Feb 2013 01:30:24 +0000

kylexitron says:Feb 7, 2013 2:28 PM

… Everyone rolls their eyes and is so baffled when these guys blow their millions but I sincerely doubt there are many people who would do a very good job at managing tens of millions of dollars droppped into their bank accounts in their early 20′s and would be in this exact situation or worse.
___________

Uhhh …. guess again.

By: cooklynn17

cooklynn17 — Fri, 08 Feb 2013 01:08:17 +0000

I went to high school with this guy, so I wish him nothing but the best. A real down to earth person and a caring individual.

By: mjkelly77

mjkelly77 — Fri, 08 Feb 2013 00:52:30 +0000

Typical. Stupid is as stupid does.

By: mrfrostyj

mrfrostyj — Fri, 08 Feb 2013 00:52:11 +0000

Don’t know why people are surprised. Many projected first rounders are living off of credit in college based off their expected salary once they enter the NFL. Then they spend their entire careers paying it back so the money they earn is going straight to people they owe plus interest. Once they retire they no longer are making enough to pay back their debts AND maintain the lifestyle they had when they played.

What these guys need is the un college educated NBA players like Lebron James and Kobe Bryant to teach them how to invest in turning their names into brands to the point that their outside ventures make them more money than their playing contracts.

By: 25cuts

25cuts — Fri, 08 Feb 2013 00:44:23 +0000

Dude, do u really need a 6 million dollar home? Buy a 1 million dollar home, a couple nice cars and bank the rest, what is hard about that? Wow man ppl in this country are struggling to make ends meat and u see these clowns just pissin money away.

By: Obama's Ballsack

Obama's Ballsack — Fri, 08 Feb 2013 00:24:45 +0000

*sigh* what color is he?

By: radrntn

radrntn — Fri, 08 Feb 2013 00:21:10 +0000

stupid is as stupid does

By: scrapingthefloorioforstorios

scrapingthefloorioforstorios — Fri, 08 Feb 2013 00:18:06 +0000

what’s with the “report comment” thingy? the overzealous moderators aren’t enough for you anymore pft?

By: jrs45

jrs45 — Fri, 08 Feb 2013 00:14:45 +0000

Bahahahaha!

By: mogogo1

mogogo1 — Fri, 08 Feb 2013 00:01:11 +0000

stevent92 says:
Smartest athlete ever with their money? LeBron James. Dude spent 2 summers hanging-out with Warren Buffett and getting financial tips before he was drafted.
_____________

Hopefully he was a better student than Scottie Pippen, who bragged the main reason he signed with the Blazers was to get advice from Paul Allen.

By: bigalhebdman

bigalhebdman — Thu, 07 Feb 2013 23:52:10 +0000

Blowing that much money in that short a period of time proves concussion damage. Time to sue.

By: inthezone4

inthezone4 — Thu, 07 Feb 2013 23:27:45 +0000

Hard to fell sorry for a guy that made millions

By: Reggie's Bush

Reggie's Bush — Thu, 07 Feb 2013 23:22:19 +0000

I can’t stand the following excuse for broke athletes: he came from poverty, he didn’t know how to handle his money etc etc…

That’s a poor b.s. cop-out excuse. I’m sure people who earned money have the ability to keep it, if not all 1st generation rich people would all go broke too.

By: vikingdoode

vikingdoode — Thu, 07 Feb 2013 23:09:44 +0000

Whats wrong with a house 200k yes its modest but dude… your monthly payments would be 0.00

I dont feel sorry for you one bit on buying to big of a house and over spending…… but the irs, I got the State sales tax dudes on my ass… only managed 188 dollar fine they were looking hard and they were pissed at me because i had my books correct. just wondering what the hell they are doing to you… yikes…

By: vikingdoode

vikingdoode — Thu, 07 Feb 2013 23:04:06 +0000

million dollar rushing capibilities…Five cent head… SHUDA FINSHED KOLLAGE BRO

By: lowtalker

lowtalker — Thu, 07 Feb 2013 23:03:27 +0000

how about REQUIRING players to put their money into American family funds, Fidelity, Opppenheimer, etc . . they all want quick rich schemes . . what is wrong with buying some Berkshire Hathaway

By: peytonsneck18

peytonsneck18 — Thu, 07 Feb 2013 22:05:37 +0000

if he brought a reasonable house, with the money that he made, he wouldnt needed a mortgage loan

By: kelsey412

kelsey412 — Thu, 07 Feb 2013 21:53:06 +0000

16 million is 8 million after taxes and all other services associated with his deal. That is why he needed a mortgage

By: EJ

EJ — Thu, 07 Feb 2013 21:44:44 +0000

I can not believe the money that these players blow. Not $5 million, not $20 million, but $45 million? I realize that half of that money is taxed, but that would still mean he went through at least $21-23 million! Ridiculous. Absolutely ridiculous! Get a clue players of the NFL! Ask for financial help!

By: mogogo1

mogogo1 — Thu, 07 Feb 2013 21:43:51 +0000

Too many dumb financial decisions and parasites masquerading as friends and family.

Sports Illustrated interviewed a financial planner the NFL had hired to work with players and he said he never had one guy get excited about blue-chip stocks but every single one wanted to open a restaurant.

By: jessethegreat

jessethegreat — Thu, 07 Feb 2013 21:27:46 +0000

I will likely never see that kind of scratch, but if I came anywhere close, I’d be buying annuities. Better to limit your ability to spend short term and guarantee money still coming in when your earning potential drops.

By: veence69

veence69 — Thu, 07 Feb 2013 21:03:25 +0000

No sympathy for this fool. I guess it’s time to start filling out applications, Javon.

By: granadafan

granadafan — Thu, 07 Feb 2013 20:54:43 +0000

If an agent truly had his client’s best interest in hand, especially those who come from disadvantaged backgrounds or are obviously dumber than a box of rocks, then they would put the money in a trust. They can’t touch the money until they are in their 50s and are given an allowance of, say $200,000 per year.

Sadly, there are too many greedy people in their lives like agents, financial “advisors”, lazy family members, posses, entourages, baby mamas, etc.

By: jpmelon

jpmelon — Thu, 07 Feb 2013 20:43:26 +0000

$6 million dollar house in 2004 was probably worth $2 million in 2009.

I’d probably let the bank keep it too.