OT: Powerball fail

[RU Cheese]

Good call- that is very recent.

In many other states- you can create an LLC and have it designated as the winner. Thus, doing the same thing.

And winning $600 million does not suck for anyone. Winning $20 million does not suck for anyone and getting a a pro sports contract does not suck for anyone.

I already have a simple rule for myself. Let's say I won the lotto and or, came into a ton of money.
I already know who I would consider sharing something with. I already know who has a real need. And, I already know- not a f-ing one of my friends or family have a good business idea. lol

So- when you ask and I politely decline- friend or family. If you have a problem with it, not my problem.

With that said- having a son that did play NFL- We gave same advice. Kid had people come out of the woodwork. But 80% of his post tax money was in his bank account in year 1. And that was after the car, townhouse and everything needed to furnish.

The stories about the failed restaurants, business ventures and other investments people fund from athletes is so sad.

 

[yesrutgers01]

The stories about the failed restaurants, business ventures and other investments people fund from athletes is so sad.

It is...and there is something else that is sad...

When you make the NFL - you have to attend required "classes" - not sure if it is NFL or the NFLPA- they pretty much blanket every single player as if they are young, under privileged and dumb...

So, Kevin comes home and tells his Mom, "we aren't allowed to have family manage our accounts" - His Mom looked at him and said "Are you F-ng kidding me, get coach on the f-ing phone right now"
Keep in mind- Mom has managed his accounts forever- had him work at McDonalds while in HS and the "big HS star" in town. Meanwhile- he never used that money and she took care of everything. Once in college- he had an account with the full 18k he earned.
By the time he graduated, she had gotten him an 830 credit score and a platinum card. And believe me- even 1st round guys don't have either in year 1.
She also made sure he banked 80% of his first year net pay.

But the league creates what they think is such a great program for these guys and instead of teaching them how to handle money themselves- they just tell them not to have family and then they point them to specific financial advisors.

 

[RU Cheese]

It is...and there is something else that is sad...

When you make the NFL - you have to attend required "classes" - not sure if it is NFL or the NFLPA- they pretty much blanket every single player as if they are young, under privileged and dumb...

So, Kevin comes home and tells his Mom, "we aren't allowed to have family manage our accounts" - His Mom looked at him and said "Are you F-ng kidding me, get coach on the f-ing phone right now"
Keep in mind- Mom has managed his accounts forever- had him work at McDonalds while in HS and the "big HS star" in town. Meanwhile- he never used that money and she took care of everything. Once in college- he had an account with the full 18k he earned.
By the time he graduated, she had gotten him an 830 credit score and a platinum card. And believe me- even 1st round guys don't have either in year 1.
She also made sure he banked 80% of his first year net pay.

But the league creates what they think is such a great program for these guys and instead of teaching them how to handle money themselves- they just tell them not to have family and then they point them to specific financial advisors.

Good story. To be fair though, you can probably count on one or two hands the number of new NFL players in Kevin's situation.

 

[mdk01]

It is...and there is something else that is sad...

When you make the NFL - you have to attend required "classes" - not sure if it is NFL or the NFLPA- they pretty much blanket every single player as if they are young, under privileged and dumb...

So, Kevin comes home and tells his Mom, "we aren't allowed to have family manage our accounts" - His Mom looked at him and said "Are you F-ng kidding me, get coach on the f-ing phone right now"
Keep in mind- Mom has managed his accounts forever- had him work at McDonalds while in HS and the "big HS star" in town. Meanwhile- he never used that money and she took care of everything. Once in college- he had an account with the full 18k he earned.
By the time he graduated, she had gotten him an 830 credit score and a platinum card. And believe me- even 1st round guys don't have either in year 1.
She also made sure he banked 80% of his first year net pay.

But the league creates what they think is such a great program for these guys and instead of teaching them how to handle money themselves- they just tell them not to have family and then they point them to specific financial advisors.

All kids should be taught the basics in HS. As far as your family, the exception that proves the rule.

 

[e5fdny]

Good call- that is very recent.

In many other states- you can create an LLC and have it designated as the winner. Thus, doing the same thing.

And winning $600 million does not suck for anyone. Winning $20 million does not suck for anyone and getting a a pro sports contract does not suck for anyone.

I already have a simple rule for myself. Let's say I won the lotto and or, came into a ton of money.
I already know who I would consider sharing something with. I already know who has a real need. And, I already know- not a f-ing one of my friends or family have a good business idea. lol

So- when you ask and I politely decline- friend or family. If you have a problem with it, not my problem.

With that said- having a son that did play NFL- We gave same advice. Kid had people come out of the woodwork. But 80% of his post tax money was in his bank account in year 1. And that was after the car, townhouse and everything needed to furnish.

 

[RUfinally2008]

It is...and there is something else that is sad...

When you make the NFL - you have to attend required "classes" - not sure if it is NFL or the NFLPA- they pretty much blanket every single player as if they are young, under privileged and dumb...

So, Kevin comes home and tells his Mom, "we aren't allowed to have family manage our accounts" - His Mom looked at him and said "Are you F-ng kidding me, get coach on the f-ing phone right now"
Keep in mind- Mom has managed his accounts forever- had him work at McDonalds while in HS and the "big HS star" in town. Meanwhile- he never used that money and she took care of everything. Once in college- he had an account with the full 18k he earned.
By the time he graduated, she had gotten him an 830 credit score and a platinum card. And believe me- even 1st round guys don't have either in year 1.
She also made sure he banked 80% of his first year net pay.

But the league creates what they think is such a great program for these guys and instead of teaching them how to handle money themselves- they just tell them not to have family and then they point them to specific financial advisors.

Very impressive you have a son who made it to the NFL. I have 2 sons that go to NFL games,😁 Seriously, I would say without a doubt you raised that boy admirably. If you can't trust your Mama, who can you trust!!!

 

[WhiteBus]

I’d make do somehow

Who are you kidding? There will be millions of people who think you won billions and begging for money. Look at the top lottery winners over the years. They have a miserable life after because they must become public about winning. Problem with most states is you must do a media thing to get the money. Name picture and town. I think less then 10 states do not require that the winner to become public

 

[RuBird]

Who are you kidding? There will be millions of people who think you won billions and begging for money. Look at the top lottery winners over the years. They have a miserable life after because they must become public about winning. Problem with most states is you must do a media thing to get the money. Name picture and town. I think less then 10 states do not require that the winner to become public

Not kidding you or anyone else. Old saying is if you were miserable before you won the lottery you most likely will be miserable after. As a parent to be able to provide for my child far outweighs worries over the “fame“ that comes with it. My 90 year old father-in-law has dementia and still lives at home with my 86 year old mother-in-law. To be able to get them help 24-7 again far outweighs the negatives.

 

[yesrutgers01]

Not kidding you or anyone else. Old saying is if you were miserable before you won the lottery you most likely will be miserable after. As a parent to be able to provide for my child far outweighs worries over the “fame“ that comes with it. My 90 year old father-in-law has dementia and still lives at home with my 86 year old mother-in-law. To be able to get them help 24-7 again far outweighs the negatives.

Good news is that NJ just passed that you do not have to identify if you win. And I hope one of us benefits from that one day. lol

But I agree- I don't give 2 shats who knew or didn't know I won. Like I said before- If I didn't know you needed help before I won, then you aren't getting anything after.

On the same page though...Wife and I built our house in 2007- Son made the NFL in 2010. And you know what the story was around town when he made it- 1) that he owned the house and lived there(some people from town actually knocked on the door to ask) 2) he bought the house for his mama...
None of them even stopped to think that they knew us and that we built the hose 3 years earlier.

On a negative side- his Mom worked in a reference based career and before he made the NFL- people she interacted with used to provide references all the time 1) She was very good at her job 2) she had come up as a single Mom working her ass off and they appreciated how she did so.
Almost the moment he made the league- these same people stopped the references as they felt she no longer needed it because she had a son in the NFL that was going to take care of her.

So- yes, people can suck lol