2027 NBA Season

[Fredomago]

Mostly those friends who encourage them into gambling disappears when things got tough, its really important to find friends who will not just take advantage, for their own benefit, but find friends who always give you advice to save, its really hard to find, if they can't find one, then they should help themselves, or have a financial adviser like everybody suggest, they have to think of the future instead of short happiness.

Indeed, nowadays you need to be wise and not just to spend your money the way you think that you won't be emptied, if you mishandled your finances due to many expenses long the way you'll find yourself got nothing to use, likewise better to have financial advisor to help you finding the right business to invest your money and to make sure that after your career ended you have good financial support to finance your needs.

[Webetcoins]

The smarter ones, ends up hiring a financial company to take care of their business. I agree that the older generation didn't made that much, but we hear stories about rich players who nobody heard about, because they made good investments.

An example is Vinnie Johnson, the Pistons guard, who never made a dime over 800k in his career per year, and yet he has a 500+ million dollar empire today. How? He created an auto parts company, that spreads across all over USA, and response very quickly to any failure. See how he was smart with his money? Even someone as famous as Magic Johnson, didn't made as much as Malik Beasley did in his career, and yet he owns 1+ billion networth now, thanks to his investments. You just need to realize, while earning, those checks will not keep on coming, so use those to buy something that will keep on getting you paid.

[tech30338]

The smarter ones, ends up hiring a financial company to take care of their business. I agree that the older generation didn't made that much, but we hear stories about rich players who nobody heard about, because they made good investments.

An example is Vinnie Johnson, the Pistons guard, who never made a dime over 800k in his career per year, and yet he has a 500+ million dollar empire today. How? He created an auto parts company, that spreads across all over USA, and response very quickly to any failure. See how he was smart with his money? Even someone as famous as Magic Johnson, didn't made as much as Malik Beasley did in his career, and yet he owns 1+ billion networth now, thanks to his investments. You just need to realize, while earning, those checks will not keep on coming, so use those to buy something that will keep on getting you paid.

Yes its true most old players don't earn much but the value of money during that time is much higher, i have read and watch a video the other time, that a player owns a Wendy's
and some stores he is just a benchwarmer in NBA but he is being called franchise king, its really having the mindset how he prepare the future its not just we want it, we have to have a goal so that we don't have waste opportunity.
Junior bridgeman in its like a podcast:
https://www.youtube.com/watch?v=ClrTL1y-06Y

[OgNasty]

The smarter ones, ends up hiring a financial company to take care of their business. I agree that the older generation didn't made that much, but we hear stories about rich players who nobody heard about, because they made good investments.

An example is Vinnie Johnson, the Pistons guard, who never made a dime over 800k in his career per year, and yet he has a 500+ million dollar empire today. How? He created an auto parts company, that spreads across all over USA, and response very quickly to any failure. See how he was smart with his money? Even someone as famous as Magic Johnson, didn't made as much as Malik Beasley did in his career, and yet he owns 1+ billion networth now, thanks to his investments. You just need to realize, while earning, those checks will not keep on coming, so use those to buy something that will keep on getting you paid.

Thank you for sharing this. I didn’t know. A couple more examples are Dave Bing who made hundreds of millions owning a steel company and Junior Bridgeman who owned a lot of Wendy’s and Chili’s franchises.

[livingfree]

Thank you for sharing this. I didn’t know. A couple more examples are Dave Bing who made hundreds of millions owning a steel company and Junior Bridgeman who owned a lot of Wendy’s and Chili’s franchises.

I want to add Jason Richardson, drafted 2001. He just finished BA in college just this year, there is not that much information on him but he's 2x dunk contest champ.

He played as guards for the Suns, Magic, 76ers and Warriors.

So, there are a lot of ways for them to still go on and have a better life after NBA depending on how they manage their finances or path they want to take.

[TravelMug]

It's true, there are a lot of former players who become successful after basketball. But this breed is very different in terms of their mentality. They know that after basketball, it will be a different life for them. And so they might study and learn how and where to invest their money and then success comes later.

Another good example is the big fella Shaq. He has multiple investments and not just one basket so to speak. He has tech start up early investors to fast food chains to retail ventures. But I guess not everyone is the same, maybe those who didn't think about their future thought that the money is going to come in like clockwork and so they don't have any back up plans.

Who wouldn't forget Vinnie "the Microwave" Johnson?

[sana54210]

To be fair, even if you spend less than you earn during your career, having a high level of expense could kill your future when you are not earning as much.

Plus, you have to remember inflation as well, even Kobe, who didn't retire that long ago, made 25 million maximum contract because 10 years ago that was the max, now it's 80. Look at Jordan, that dude earned so little compared to what he is making now.

So remember, not everyone are those big names, and if you look back on the older players, which the survey "50%+ players in NBA bankrupt after 5years" includes, those guys who played in 90's and even in early 2000's, 90% of them made not enough money to survive for a whole life. And inflation ate up most of their money too. A million dollars a year, for a 8 year career, was a big deal. In any case, Malik Beasley situation is different.

First of all, you need to remember, he did not make 60 million, I didn't check if that number is correct, even if it is, then you need to remember, that's what the teams paid. Then, until Malik gets it, the tax man takes his cut, and then accountants, agents, coaches, basically so many more is gone, then you buy a house, and that eats up some of it. So, he probably got left with like 15-20 million. Could he have used that money better? Obviously, we all would be going insane if we had that money. But when you are an NBA star, it becomes harder to live like us.

[karabiber]

It's true, there are a lot of former players who become successful after basketball. But this breed is very different in terms of their mentality. They know that after basketball, it will be a different life for them. And so they might study and learn how and where to invest their money and then success comes later.

Another good example is the big fella Shaq. He has multiple investments and not just one basket so to speak. He has tech start up early investors to fast food chains to retail ventures. But I guess not everyone is the same, maybe those who didn't think about their future thought that the money is going to come in like clockwork and so they don't have any back up plans.

Who wouldn't forget Vinnie "the Microwave" Johnson?

Vinnie "The Microwave" Johnson is a role model for his post basketball career. After his stardom with the Pistons, he started his own automotive parts company and turned it into a multi million dollar business. Like Shaq, Vinnie Johnson is one of those who practiced the principle of not playing for one basket, but the difference is that he started his own business from scratch instead of investing. Starting your own business or investing are both smart post retirement moves for a player. Some players have this forward looking vision, while others experience a sharp post retirement decline because of the assumption that the money will always flow.

[cryptomaniac_xxx]

First of all, you need to remember, he did not make 60 million, I didn't check if that number is correct, even if it is, then you need to remember, that's what the teams paid. Then, until Malik gets it, the tax man takes his cut, and then accountants, agents, coaches, basically so many more is gone, then you buy a house, and that eats up some of it. So, he probably got left with like 15-20 million. Could he have used that money better? Obviously, we all would be going insane if we had that money. But when you are an NBA star, it becomes harder to live like us.

Regardless of the numbers, he is a mid level player, so he will really get a good pay in the league. The thing is that this players is spending more than what they are getting so they've lost all the money in an instant.

What we are discussing is that if this players could have a mindset that if ever their career is over, then what will happen to them? Then the idea of investing your money in the right way will mind to mind. Although not investment will turn successful, but we have seen samples of players who really take the risk and maybe they did understand or even go to school after their career to study where they should put their money or to save it for rainy days and then invest it later after their career is over.

[dwyane36]

Yes its true most old players don't earn much but the value of money during that time is much higher, i have read and watch a video the other time, that a player owns a Wendy's
and some stores he is just a benchwarmer in NBA but he is being called franchise king, its really having the mindset how he prepare the future its not just we want it, we have to have a goal so that we don't have waste opportunity.
Junior bridgeman in its like a podcast:
https://www.youtube.com/watch?v=ClrTL1y-06Y

Given that NBA players' salaries have become too high, even players with the minimum salary can secure their future, if not for life, then for many years after their career ends. However, many players appear to have issues with this. I mean that many players prefer to live it up, and only a few think about how to not only preserve but also multiply the money they have earned during their careers.

[arwin100]

Yes its true most old players don't earn much but the value of money during that time is much higher, i have read and watch a video the other time, that a player owns a Wendy's
and some stores he is just a benchwarmer in NBA but he is being called franchise king, its really having the mindset how he prepare the future its not just we want it, we have to have a goal so that we don't have waste opportunity.
Junior bridgeman in its like a podcast:
https://www.youtube.com/watch?v=ClrTL1y-06Y

Given that NBA players' salaries have become too high, even players with the minimum salary can secure their future, if not for life, then for many years after their career ends. However, many players appear to have issues with this. I mean that many players prefer to live it up, and only a few think about how to not only preserve but also multiply the money they have earned during their careers.

The problem is there are lots of temptation out side and some players got carried out by their vices then spend a lot then became careless on spending their money.

We've seen lots of situation like this and it seems that there are players cannot control their emotion then end up getting broke then regret all those mistakes they have done. I also think that Rookies has been taught by NBA towards financial management.

But there are some players failed because they abuse to much their selves and as a result they didn't end up well then get broke badly.

[danherbias07]

Thank you for sharing this. I didn’t know. A couple more examples are Dave Bing who made hundreds of millions owning a steel company and Junior Bridgeman who owned a lot of Wendy’s and Chili’s franchises.

I want to add Jason Richardson, drafted 2001. He just finished BA in college just this year, there is not that much information on him but he's 2x dunk contest champ.

He played as guards for the Suns, Magic, 76ers and Warriors.

So, there are a lot of ways for them to still go on and have a better life after NBA depending on how they manage their finances or path they want to take.

Ohh, I love JRich during his time with the Phoenix Suns. That dude plays phenomenal, and I am a big Suns fan during his time with Steve Nash and Amar'e Stoudemire.

I love players who will still do something good with their money after they retire in the NBA, and I think this is the best path for them since there might be no money coming after the NBA, and they will need more for their family and then retirement. If he finished a Bachelor's or Arts degree in Sports Management, then I think he must have a job that is already waiting for him. Coaching? Trainer?

[xzone]

The smarter ones, ends up hiring a financial company to take care of their business. I agree that the older generation didn't made that much, but we hear stories about rich players who nobody heard about, because they made good investments.

An example is Vinnie Johnson, the Pistons guard, who never made a dime over 800k in his career per year, and yet he has a 500+ million dollar empire today. How? He created an auto parts company, that spreads across all over USA, and response very quickly to any failure. See how he was smart with his money? Even someone as famous as Magic Johnson, didn't made as much as Malik Beasley did in his career, and yet he owns 1+ billion networth now, thanks to his investments. You just need to realize, while earning, those checks will not keep on coming, so use those to buy something that will keep on getting you paid.

In the past, there weren't huge endorsement deals; the NBA wasn't such a big business, and no one was earning that kind of money. Today's basketball players have very high contracts; basketball has become an industry, and even the worst players in the NBA earn significantly more than players from the 1980s or 1990s.

I think the players who played in the NBA's prime years, the 2000s, should have been earning the most money. There are hundreds of players from that era who couldn't manage their finances effectively; we see the stories of many players websites

[Dave1]

Yes its true most old players don't earn much but the value of money during that time is much higher, i have read and watch a video the other time, that a player owns a Wendy's
and some stores he is just a benchwarmer in NBA but he is being called franchise king, its really having the mindset how he prepare the future its not just we want it, we have to have a goal so that we don't have waste opportunity.
Junior bridgeman in its like a podcast:
https://www.youtube.com/watch?v=ClrTL1y-06Y

Given that NBA players' salaries have become too high, even players with the minimum salary can secure their future, if not for life, then for many years after their career ends. However, many players appear to have issues with this. I mean that many players prefer to live it up, and only a few think about how to not only preserve but also multiply the money they have earned during their careers.

The problem is there are lots of temptation out side and some players got carried out by their vices then spend a lot then became careless on spending their money.

We've seen lots of situation like this and it seems that there are players cannot control their emotion then end up getting broke then regret all those mistakes they have done. I also think that Rookies has been taught by NBA towards financial management.

But there are some players failed because they abuse to much their selves and as a result they didn't end up well then get broke badly.

And to add to that, when you're young and then having that big money coming in your bank account, if you don't have financial adviser, then what they do is spend it right away. It's good that they are going to buy houses for their parents, we admire that. But after that, they spend it to something that they can't get anything, like gambling it all away or buying cars and other expensive things.

But there are more intelligent players I guess, maybe those who are just below. They might have the mindset that it's very hard earn money and so they have to take care of it and multiply thru investments and not wasting millions in things like expensive jewelries or cars.

[AbuBhakar]

In the past, there weren't huge endorsement deals; the NBA wasn't such a big business, and no one was earning that kind of money. Today's basketball players have very high contracts; basketball has become an industry, and even the worst players in the NBA earn significantly more than players from the 1980s or 1990s.

I think the players who played in the NBA's prime years, the 2000s, should have been earning the most money. There are hundreds of players from that era who couldn't manage their finances effectively; we see the stories of many players websites

Inflation and huge valuation of NBA franchise is the main reason why player salary mark up on insane level

Same with crypto prices back then that normally valued less than 10$ but right now most crypto already valued above 10$ due to the demand for investment purposes.

Basketball becomes popular already worldwide whole NBA is the most popular league right now. It’s normal that all their value will be insanely high.

[livingfree]

Thank you for sharing this. I didn’t know. A couple more examples are Dave Bing who made hundreds of millions owning a steel company and Junior Bridgeman who owned a lot of Wendy’s and Chili’s franchises.

I want to add Jason Richardson, drafted 2001. He just finished BA in college just this year, there is not that much information on him but he's 2x dunk contest champ.

He played as guards for the Suns, Magic, 76ers and Warriors.

So, there are a lot of ways for them to still go on and have a better life after NBA depending on how they manage their finances or path they want to take.

Ohh, I love JRich during his time with the Phoenix Suns. That dude plays phenomenal, and I am a big Suns fan during his time with Steve Nash and Amar'e Stoudemire.

I love players who will still do something good with their money after they retire in the NBA, and I think this is the best path for them since there might be no money coming after the NBA, and they will need more for their family and then retirement.

Nice, I thought nobody will recognize him.

And we all love these guys that did good with how they have managed their wealth after their fame and contract have faded.

If he finished a Bachelor's or Arts degree in Sports Management, then I think he must have a job that is already waiting for him. Coaching? Trainer?

Most likely either of the two.

And I think he'd be easily accepted into college basketball teams that look for someone who's experienced in the NBA.

[Fredomago]

Yes its true most old players don't earn much but the value of money during that time is much higher, i have read and watch a video the other time, that a player owns a Wendy's
and some stores he is just a benchwarmer in NBA but he is being called franchise king, its really having the mindset how he prepare the future its not just we want it, we have to have a goal so that we don't have waste opportunity.
Junior bridgeman in its like a podcast:
https://www.youtube.com/watch?v=ClrTL1y-06Y

Given that NBA players' salaries have become too high, even players with the minimum salary can secure their future, if not for life, then for many years after their career ends. However, many players appear to have issues with this. I mean that many players prefer to live it up, and only a few think about how to not only preserve but also multiply the money they have earned during their careers.

The problem is there are lots of temptation out side and some players got carried out by their vices then spend a lot then became careless on spending their money.

We've seen lots of situation like this and it seems that there are players cannot control their emotion then end up getting broke then regret all those mistakes they have done. I also think that Rookies has been taught by NBA towards financial management.

But there are some players failed because they abuse to much their selves and as a result they didn't end up well then get broke badly.

Those who mismanaged their huge salaries ends up being broke, most of them thinks that because they manage to reached NBA they'll be secure playing more seasons and get contracts they desire, but things suddenly turned against them and end their careers, they find themselves spend more compared to what they've got, and because of the lifestyle they embrace they end up empty handed and need to start over without nothing.

[tech30338]

Yes its true most old players don't earn much but the value of money during that time is much higher, i have read and watch a video the other time, that a player owns a Wendy's
and some stores he is just a benchwarmer in NBA but he is being called franchise king, its really having the mindset how he prepare the future its not just we want it, we have to have a goal so that we don't have waste opportunity.
Junior bridgeman in its like a podcast:
https://www.youtube.com/watch?v=ClrTL1y-06Y

Given that NBA players' salaries have become too high, even players with the minimum salary can secure their future, if not for life, then for many years after their career ends. However, many players appear to have issues with this. I mean that many players prefer to live it up, and only a few think about how to not only preserve but also multiply the money they have earned during their careers.

The problem is there are lots of temptation out side and some players got carried out by their vices then spend a lot then became careless on spending their money.

We've seen lots of situation like this and it seems that there are players cannot control their emotion then end up getting broke then regret all those mistakes they have done. I also think that Rookies has been taught by NBA towards financial management.

But there are some players failed because they abuse to much their selves and as a result they didn't end up well then get broke badly.

Those who mismanaged their huge salaries ends up being broke, most of them thinks that because they manage to reached NBA they'll be secure playing more seasons and get contracts they desire, but things suddenly turned against them and end their careers, they find themselves spend more compared to what they've got, and because of the lifestyle they embrace they end up empty handed and need to start over without nothing.

Most people i know who mismanage their finances are likely those who have less money before, they are overwhelm by the success and forget that its just temporary, they are like one time millionaire, while its always the situation, those who can control impulse and have future plans, have higher chances to become more successful not because they know what will happen but have people around them who cares for them, but some also is also there to use them and left them when they have nothing, and turn out to be the rich.

[batang_bitcoin]

Inflation and huge valuation of NBA franchise is the main reason why player salary mark up on insane level

Same with crypto prices back then that normally valued less than 10$ but right now most crypto already valued above 10$ due to the demand for investment purposes.

Basketball becomes popular already worldwide whole NBA is the most popular league right now. It’s normal that all their value will be insanely high.

And this is the reason why WNBA players cries about how low their salaries are. They don't understand the value yet of their league but soon, it will be with the steps where the NBA has been with. The NBA keeps on growing year after year and maybe if they say that the sports industry is in a bubble, it will be one of those that will be included in the popping. But it's true that inflation and other factors makes the league more valuable now and the contracts just keeps on increasing.

[EFS]

Not everyone who earns a lot of money makes good investments. There are NBA players who made a fortune yet went bankrupt, even ending up on the streets. The first ones that come to my mind are Delonte West and Antoine Walker. They had solid careers, but that doesn't mean they could hold onto the fortune they earned from the NBA. The last time I saw Delonte West, he was in a pretty bad state. So, just as there are good examples, there are also bad ones. Right now, NBA players are signing incredible contracts and many of them don't even live up to those deals. Among them, there will also be players who will go bankrupt in the future due to bad investments.