Former NBA Star. Caught panhandling.

[Nash B.]

And when he gets that pay check he'll be broke again when he's 60. That's why it's important to also get an education in college.

How much of the issue is education and how much of it is intelligence?

[UserX]

Mo' money, mo' problems.

[GrayStangGT]

Net worth of $650MM!

Last I read he was worth a billion. He makes stupid money off of Jordan shoes.

[Sean88gt]

What's up big government?

Man I'm all for letting people stimulate the economy with their massive pay day!!!

Where did I say anything about the government?

[71chevellejohn]

It doesn't have to be government directed. The NBA could easily mandate that a percentage of a player's salary is automatically placed into a pension of some sort that starts annual payouts upon leaving the NBA.

It may have been implemented after Iverson entered the NBA, but the NBA and NFL both have rookie seminars that are mandatory. They cover the basics of handling the media and I believe an entry course on finances/money management. Nothing is automatic, but there is an effort made by the leagues to try and prevent broke-dick ball players.

[A_A_G]

I think it is fucked that they give big money to idiots that have no financial sense. Throwing a ball doesn't give one life sense. The players should be forced to invest 50% of their salary in a fund that begins to disperse upon retirement, as well as classes that teach them how to budget.

Would you be ok if your employer forced you to invest 50% of your money?

[Nash B.]

Would you be ok if your employer forced you to invest 50% of your money?

Many companies force you to invest a portion of your paycheck. If you don't like it, you can always find another job.

[Sean88gt]

Would you be ok if your employer forced you to invest 50% of your money?

Irrelevant. I was never 18, from the hood, and handed a fortune.

[GhostTX]

And when he gets that pay check he'll be broke again when he's 60. That's why it's important to also get an education in college.

Just get an education in general. Public schools are just shuttling kids through these days. How many kids get held back anymore?

Heck in my current job, we only have a 12% 401k participation rate! Only 12%!

[slow99]

Jordan's worth $1 billion.

[Roscoe]

Would you be ok if your employer forced you to invest 50% of your money?

LOL... if I was making multi-millions a year for a very defined amount of time, yes. Horrible comparison....

[Baba Ganoush]

Heck in my current job, we only have a 12% 401k participation rate! Only 12%!

Yikes.

[Roscoe]

Yikes.

Yup - quite a few of those employees will be panhandling next to the NBA as well...

[Cobraman]

And when he gets that pay check he'll be broke again when he's 60. That's why it's important to also get an education in college.

College doesn't teach you shit about budgeting.

[Labora]

Just get an education in general. Public schools are just shuttling kids through these days. How many kids get held back anymore?

Heck in my current job, we only have a 12% 401k participation rate! Only 12%!

Less than 30% where I am at. It is amazing to me how terrible people can be with money, every time I get a "pre-approved" loan in the mail with a crazy interest I wonder who falls for this stuff.

The Professional athletes are usually bad with money because they never had any to begin with so never had to manage it before.