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March 31, 2009

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He sounds like a hedge fund manager.

Its hard supporting 9 children.

It's amazing how many athletes end up dead broke like this. Not surprised it happened to Travis Henry -- he did get kicked out of the league for repeated violations of the NFL drug policy.

Things like this are bound to happen when you take a child (basically), give him a ba-zillion dollars out of nowhere, and provide them with zero guidance. I think there is something seriously wrong with how athletes are treated and the ridiculous money they are given.

They don't have to but it would be nice if the different sport companies, prior to signing these guys up for gazillion of dollars, should have them undergo sound financial planning training/seminar.

The difference between most of us and NFL players (and other athletes and entertainers) is they have a limited earning potential, and there is really no way to know when the gravy train will stop. Aside from a few very savvy players who become announcers or create small-time careers for themselves, most athletes live large which is affordable on their salary, but if you take into account their YEARS of retirement a $6 million payout would be equivalent to earning $300K a year gross. (assuming the player retires and lives another 20 years)

I don't think it's wrong to spend some of their money on things they enjoy, but using the "everyone else is doing it," defense is absurd.

I do feel for the guy's kids though, it's not their fault, and it's a shame that they will suffer for his mistakes.

That's what happens when you give people millions$$ who have never othewise had to handle much more than minimum wages. It proves that just giving people money is not an answer.

Same holds for lottery winners. Most are dead broke - and even in deep debt! - with in a few years or less!

Keep in mind, he THOUGHT he was going to be making $25 million over the next few years, and then ended up with less than a third of it. It doesn't sound to me like he spent more than he earned at the time; it sounds to me like he faced what amounts to a layoff and found he couldn't continue to make child support payments without the income he'd previously had. He spent less than his bazillions and then found that he still owed future bazillions and was no longer making bazillions.

There's a lesson to be learned from Travis Henry about relying on future money that isn't guaranteed... but not about outspending one's means in the present.

It is amazing how short viewed people get. One has to wonder who their financial advisors are and what they got out of the whole thing. Living within your means, sounds easy..... but it's not how society thinks.

$170,000 a year for 9 kids is just under $1600 a month. Most regular middle income dads pay this amount gladly for their kids. So, Henry, next time, keep your dick in your pants.

he should have invested in a few condoms.could have saved a bundle?

i know its a sport unto itself to drag out the athlete of the day who is washed up and broke but how about some stories about the ones who did it right for those of us who are interested to know what that is? For instance, the guy who knew clemens was a bum before the msm figured it out, piazza. from what i hear, he has a lot of the $170M he improbably made. just saying.

$250,000 on jewelry?? He says that ain't much?? Not much to Jay Z or Michael Vick or Plexico Burris or MC Hammer maybe. I would love to have a house worth that much. Maybe a house and a car! No wait maybe a house, a $100 grand in the bank, and no debt whatsoever. Wow! Nine kids? Really! And violations of the NFL drug policy? Again wow!

Too bad, I thought millionaire stay forever on top

The only way to stay within ones boundary is to be under The Lord's parameter's
We must Go to *Proverbs, and learn thru wisdom from on High!
remember we all need unlimited amount of widow, and only God can give us that!
* Proverbs is a Book whiten by a great man of God, we all can learn from him now.
Pro 1:8 My son, hear the instruction of thy father, and forsake not the law of thy mother:

Cite This Page:

Blue Letter Bible. "Proverbs 1 - King James Version." Blue Letter Bible. 1996-2009. 5 May 2009.

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