How do footballers become bankrupt?

[SLEAZE BALL]

Robbie fowler>>>>

[2themax]

more money more problems

[Cody Rhodes]

Robbie Fowler just kept buying houses and houses didn't he? It's fucked up for us guys due to there not being affordable houses, probably because of that cu.nt.

[Skola]

You COULD, but people aren't like that, when your wage rises, so do your expenses

 

Yes but equally the majority of people have some sort of retirement plan in the form of a pension / savings

 

and obviously on those kinda wages, surrounded by the wrong kinda people, youre gonna get GASSED and ball like there's no tomorrow bumping rich forever whilst doin coke off the dash of ur lambo

 

especially as a sportsperson you need to know that your career.....doesnt last long.  an injury could end it.  have a plan for when its all over.

 

i swear if you put aside....a mill...and buy a little place on the beach somewhere...and make sure you stay on top of ur taxes...and dont get hooked on drugs...surely ur set

[2themax]

i guess thats why u see so many ex sports people going on reality shows or bringing out books or dvds, ten years after their career is over...same as all these pop bands from late 90's now reuniting..obviously for the money.

 

if it was me, and i was on the money some of these are on, id put a million in a savings account and just leave it until i retire or until i need it- a million should give 20-25k a year interest.

[Kurtis]

you man are forgetting about taxes aswell

 

security

 

leaching friends/fam

 

etc

[Flojo]

I remember reading an article about John Barnes becoming bankrupt and how it happened. 

 

It's just one of those things where footballers are not being careful or smart enough with their money. 

 

Thats why i rate players like Owen . 

 

lol Michael Owen? The one who had a bit of a gambling problem yeah?

[2themax]

need to put it in an offshore account or have your main home abroad to avoid paying alot of tax...can set up a trust fund for family

[Guest chap44uns]

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real dan wid di fand

[Kurtis]

need to put it in an offshore account or have your main home abroad to avoid paying alot of tax...can set up a trust fund for family

 

why thank you sir, and which financial qualifications do you have?

[2themax]

need to put it in an offshore account or have your main home abroad to avoid paying alot of tax...can set up a trust fund for family

 

why thank you sir, and which financial qualifications do you have?

none, just fairly common sense if u have millions i would have thought...heard of many rich people doing this.

[Guest chap44uns]

 

need to put it in an offshore account or have your main home abroad to avoid paying alot of tax...can set up a trust fund for family

 

why thank you sir, and which financial qualifications do you have?

none, just fairly common sense if u have millions i would have thought...heard of many rich people doing this.

 swear?

[Seydou]

real dan wid di fand

 

100% you didnt know him before this thread.

 

[Yoshie]

real dan wid di fand

 

100% you didnt know him before this thread.

 

 

pmsl

[The Infamous]

 

real dan wid di fand

 

100% you didnt know him before this thread.

 

 

 

pmsl

 

 

 

we all live in a robbie fowler house

[Hipster]

"Within five years of retirement, an estimated 60% of former NBA players are broke."

 

http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364

[Guest chap44uns]

real dan wid di fand

 

100% you didnt know him before this thread.

 

 

 

that was sitting in my junk mail

[Benicio del Toney]

"Within five years of retirement, an estimated 60% of former NBA players are broke."

 

http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364

 

Heard Allen Iverson was broke but then it came out man set up the trust fund so he actually isn't.

 

Iverson >>>>>>>>>>>>

[Hipster]

 

 

 

 

[kerser]

real dan wid di fand

100% you didnt know him before this thread.

that was sitting in my junk mail

Jzbsjshshddhddmd

What team do u support fam?

[Mic Man]

3.5 yr careers? I smell bullshit

[Guest chap44uns]

real dan wid di fand

100% you didnt know him before this thread.

that was sitting in my junk mail

Jzbsjshshddhddmd

What team do u support fam?

Renford rejects

[Yoshie]

* England.

[imhim]

You COULD, but people aren't like that, when your wage rises, so do your expenses

 

If you are earning 30k a week, you don't life the lifestyle of someone that earns 30k a YEAR

 

Your house will cost more, your car will cost more, your GIRL will cost more

 

I think another problem that a lot of footballers run into is because they make so much money, it's very easy to spend big one week and think 'It's fine I'll make it back next month'

 

I see it happen a lot in boxing too, the majority of footballers and boxers come from working class backgrounds and generally speaking, aren't highly educated or from families that have been good with money, so when they get it (usually very young) they don't use it very well

 

 

 

MARGINAL PROPENSITY TO CONSUME

 

 

 

[Nidge Weasle]

3.5 yr careers? I smell bullshit

its not man, i thought it was 2.5

the players call it Not For Long