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After reading this,you'll know why many actors and pro-sports figures

posted 10/8/2011 10:47:15 PM |
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  somnium

need tons of money, just for basic survival needs! You could probably throw in a few people that were once wealthy too!

Besides, we don't exactly have a blog crunch going on here this weekend- soooo... I figured I'd post one that has some interest to it anyway- plus... what not to do, if you suddenly come into a lot of money!

Bad Investments By Star Athletes


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Wordsofwit

Oct 9 @ 8:52AM  
what not to do, if you suddenly come into a lot of money!

I didn't see too much about that in the article. I was hoping for a bit of schooling, but the article wasn't very educational, kind of boring actually.
somnium

Oct 9 @ 9:48AM  
I didn't see too much about that in the article. I was hoping for a bit of schooling,

The "schooling" was: learn from others mistakes and just because you have a lot of money sitting on the sidelines, with the potential to make a lot more as an actor or pro-sports figure, doesn't mean you bypass "schooling" yourself in an investment you know little about!


Wordsofwit

Oct 9 @ 10:45AM  
The "schooling" was: learn from others mistakes and just because you have a lot of money sitting on the sidelines, with the potential to make a lot more as an actor or pro-sports figure, doesn't mean you bypass "schooling" yourself in an investment you know little about!

Everybody should know that to begin with. But many professional teams and universities now have classes, seminars, and mentors to drive all of that home. In some universities, it is a required course for athletes.

Here in Texas we had a well known Dallas Cowboy from the seventies, Thomas "Hollywood" Henderson, who lost his ass with bad investments and cocaine. Several years later he won big time, six figures worth or more, in the Texas lottey... twice
Strega

Oct 9 @ 12:40PM  
Lesson 1 make sure your business manager is good at what he does and if it sounds like a weird investment just say no. Just because you are a big name is no guarantee that people are going to buy just anything you are promoting.
sugarnspice005

Oct 9 @ 8:02PM  
Lesson: Talk to a good investment broker. Actually, talk to a few and see if they all "agree"...as in, giving the same types of advice.

Or....open up a trust account that can't be touched for a set amount of time.

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After reading this,you'll know why many actors and pro-sports figures