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2019 NFL Free Agency - let the money flow like water!


SmittyBacall

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2 minutes ago, LETSGOBROWNIES said:

You’re acting as if he’s gonna be working for free with any team.  😂 

I feel like anyone taking your stance has never worked a terrible job.  Money isn’t everything, especially when all of your possible employers are paying multiple millions of dollars per year.

Oh, I'm not saying money is everything...I just don't agree with the, "he's made SO much money" line, that's all. Could have been stated that Houston prioritizes winning a Super Bowl above anything and will turn down more lucrative offers for the right opportunity. I'd buy into that. 

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Just now, LETSGOBROWNIES said:

The question was rhetorical, it most definitely is.

Oh I know.  I'm just goofing.

In all seriousness, I feel for the NFL players and money issues.  Most come from poor backgrounds, and because they're athletes, they receive little in the way of actual education, especially on money management.  Then there's the fact that they're paying from a very high tax bracket, and the money they make in 10 years (if they're lucky) has to last them the rest of their life.

For All Stars, it's not so much of a concern, but for many players, it is.

And that's not even going into child support issues.

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1 minute ago, J-ALL-DAY said:

Oh, I'm not saying money is everything...I just don't agree with the, "he's made SO much money" line, that's all. Could have been stated that Houston prioritizes winning a Super Bowl above anything and will turn down more lucrative offers for the right opportunity. I'd buy into that. 

Yeah that’s all I’m saying.

Opportunity, fit, location (if you’ve got a family, don’t think that stuff doesn’t play a role for married dudes), coaches, etc. all play a role, or at least they do to reasonably intelligent people.

 

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4 minutes ago, Daniel said:

Oh I know.  I'm just goofing.

You have to clarify in NFL Gen man 😆 

4 minutes ago, Daniel said:

In all seriousness, I feel for the NFL players and money issues.  Most come from poor backgrounds, and because they're athletes, they receive little in the way of actual education, especially on money management.  Then there's the fact that they're paying from a very high tax bracket, and the money they make in 10 years (if they're lucky) has to last them the rest of their life.

For All Stars, it's not so much of a concern, but for many players, it is.

And that's not even going into child support issues.

Eh, pretty much all of these dudes have spent years on a college campus with access to all kinds of information and education readily available.  There are a multitude of reasons why they may not take full advantage of them, and I get that, but ignorance in 2019 isn’t really an excuse.

Google “basic money management” and you’ll have articles from CPA’s and financial advisors running through the basics all the way up to wealth management.  Ask me how I know...

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Just now, LETSGOBROWNIES said:

Eh, pretty much all of these dudes have spent years on a college campus with access to all kinds of information and education readily available.  There are a multitude of reasons why they may not take full advantage of them, and I get that, but ignorance in 2019 isn’t really an excuse.

Google “basic money management” and you’ll have articles from CPA’s and financial advisors running through the basics all the way up to wealth management.  Ask me how I know...

I would buy that argument if football players at big programs actually went through classes like students.  We all know they don't, which is why they ought to be paid IMO.  That or restrict the amount of time they can do organized team stuff.

I'm not saying it's unavoidable, I'm saying I can see why so many players go broke quickly when they were raking in big chunks of money as players.

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4 minutes ago, Daniel said:

I would buy that argument if football players at big programs actually went through classes like students.  We all know they don't, which is why they ought to be paid IMO.  That or restrict the amount of time they can do organized team stuff.

I'm not saying it's unavoidable, I'm saying I can see why so many players go broke quickly when they were raking in big chunks of money as players.

Oh I see how it happens for sure, but it doesn’t make it excusable imo.

If you can post on this site, you can figure out how to manage money. (Actually we discuss it and provide tips in TAST fwiw).

Money management is a major topic at the rookie symposium too iirc.  They know the NFL stands for Not For Long.  They’re warned about scams, agents, and the need to save, etc.

You can lead a horse to water...

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1 hour ago, Daniel said:

You generally don't get to win the genetic lottery and also be smart.

Eh, you have a few guys who manage on both ends - Marshawn Lynch was incredibly frugal and prudent with his money and is basically set for life. Richard Sherman comes to mind, too. Rob Gronkowski looks like a typical frat boy, but is apparently very conservative with his money. Outside of football, LeBron James has taken it upon himself to become a billionaire before he retires, and is well on his way with Angel investments in Beats By Dre, Cannondale, Blaze Pizza - things you wouldn't think an athlete would research and invest in. (It doesn't hurt that James has Warren Buffet on speed dial...)

A lot of the truly broke guys are victims of poor financial advice - Clinton Portis lost a large chunk of his earnings due to a horrible investment strategy from his Financial Advisor (Portis has openly admitted to waiting for this person outside their office with "bad intentions" but was talked out of any drastic action). Mark Brunell lost something close to $40mm during his playing career, and admits that's one of the reasons he continued to be a backup QB in the league will into his late 30s.

Now, these guys do have to shoulder SOME blame (Portis did have some frivolous spending habits, Brunell made the cardinal sin of putting all of his eggs in one basket - which was Real Estate prior to 2009). But even the best planning and prudent lifestyle as an NFL player can be undone with one bad decision, then further undone by chasing that lost money.

Way off topic, kinda. But it's an interesting study.

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