Jeff Foster, the Richest Man in the NBA

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 7 years ago '07        #41
six1twan 3 heat pts
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Misleading azz thread title but I understand what was being said
 7 years ago '10        #42
Hovi Bryant 676 heat pts676
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Money management has nothing to do with ethnicity? How naive.

 11-13-2011, 08:40 AM         #43
Ca$h Out  OP
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Thats kobe or lebron....

you gotta think far beyond nba contracts.
 7 years ago '11        #44
illprem 7 heat pts
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 Perplexity said:
If anything, if an athlete knows what it's like to be dirt poor his entire life he should be MORE cautious of the sh*t he spends his money on instead of going HAM on his bank account the first time he sees a little bit of money.
 11-13-2011, 08:52 AM         #45
Cowboys All Day  OP
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 Hovi Bryant said:
Money management has nothing to do with ethnicity? How naive.

Oh man pro article, fu*k outta here lmao it doesn't take being white to be mature about handling your money and not blow it on a bunch of dumb sh*t you don't need. It all comes down to responsibility and intelligence.

You're comparing apples to oranges, this article has ZERO relevance to what we are talking about. The article highlights sources from Charles Schwab and Ariel Mutual Funds... we aren't talking about people not knowing how or where to invest, we are talking about people being smart enough to not spend millions on bullsh*t.

I'm flattered you care enough about my posts to go google up some bullsh*t to try and prove me wrong, but pay attention next time and keep it relevant.


Last edited by Cowboys All Day; 11-13-2011 at 08:55 AM..
 11-13-2011, 08:58 AM         #46
lok2685  OP
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Because players have to spend a year or 2 in college how bout take a finance class or a budgeting class and learn what not too do. That is what Foster did, he even said that he had some loses early and had to learn from that. If you know that you have any possibility of making it in any professional sport take a class so you can learn how to avoid losing all your money. Hell that applies to anyone
 7 years ago '07        #47
Mr. Moses 
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white people mad itt
 7 years ago '10        #48
ironhead 54 heat pts54
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Foster is my dude/ I always make sure I pick him up in fantasy ball. Good to hear hes movin wisely
 11-13-2011, 09:35 AM         #49
Infamous B  OP
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 spittapilottalk said:
a white person? i'm shocked :emwhoa:

black people lost
ah man thats wrong...




 11-13-2011, 09:36 AM         #50
Infamous B  OP
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 Maroon_Tiger said:
lebron will easily outpace him financially
difference is lbj earned more his first year than ol boy has in his career
 11-13-2011, 09:37 AM         #51
Infamous B  OP
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 six1twan said:
Misleading azz thread title but I understand what was being said
also true
 7 years ago '08        #52
EMER1TUS 11 heat pts11
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He r*ped the Pacers for that money that he invested tho
 7 years ago '04        #53
#RAPTORSWON 228 heat pts228
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Black people why do you have to turn it into a race issue?

Its not about being white or black or purple... its about being smart with your money... Blame the rappers who these fools idolize and want to live vicariously through by buying all these houses and cars... Smart ppl don't do that...
 7 years ago '05        #54
ShaDy 6.1.9 
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definitely had a racial tone
 11-13-2011, 10:08 AM         #55
Hollyco  OP
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This article doesn't really apply to dude like Lebron, Kobe, Dwight, etc or most superstars because they are brands themselves and make a ton of money away from basketball. Those type of players generate hundreds of millions of dollars on their own. They're in a different tax bracket than the Jeff Fosters and Boris Diaws of the world.

Article is really focused on the non superstar NBA player who may make 30 million over the course of their career and blow through most of it 5 yrs after they retire. Foster was raised in a home than obviously put emphasis on long term financial security.

Most NBA players didn't have the opportunity to be exposed to that but someone has to get them to see that this money won't be there 10 years from now if your buying million dollar homes and boats and financing your whole family/crew when you only made 15 million after taxes for your career. Its bad moves.


Last edited by Hollyco; 11-13-2011 at 11:53 AM..
 7 years ago '05        #56
Avenger772 14 heat pts14
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ESPN magazine had a good article about sports players managing their money extremely poorly. One of my graduate finance teachers showed it too us. It's a shame really. Being smart with your money can be learned but at the same time, it can also be who you are. For example, I've been cheap with my money since I was kid. I hate spending money. I just love saving it and amassing wealth. I'm like Scrooge McDuck. Whereas my brother use to spend anything he got the second he got it. I've gotten him out of that though.

The bottom line is that high schools need to teach kids financial responsibility early. We one class but it could have been deeper and more concentrated on a few things.
 7 years ago '09        #57
NLSP42 163 heat pts163
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Im not sure why people are getting butthurt by this....comparing lebron and dwight and blah blah blah....dude made his money and saved it....which when you got hoes after you......and you have the ability to buy whatever the fu*k you want is difficult....this is a good story and the fans needs to hear more of these stories

Id probably blow it
 7 years ago '04        #58
HotBYoungTurk 13 heat pts13
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shoulda got my boy Reggie a ring!!
 7 years ago '04        #59
lfletcher 
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Well, good for him.

Too much shyt to read in this thread! I need a beer.:drink:

All I wanted to know is how much he's worth and basic info, not a damn dissertation.

and "Richest Man in the NBA" is misleading as a MF.
 11-13-2011, 11:30 AM         #60
crazycat 71  OP
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 Hollyco said:
Foster was raised in a home than obviously put emphasis on long term financial security.

Most NBA players didn't have the opportunity to be exposed to that but someone has to get them to see that this money won't be there 10 years from now if your buying million dollar homes and boats and financing your whole family/crew when you only made 15 million after taxes for your career is a bad move.
Background is probably a major part in learning that lesson. I'm sure that they touch on financial management during the rookie symposium and watching your expenses. Even with sound financial advice, it would be tough to convince players (many of which have lived their entire life with little to nothing) not to indulge. I hate to see athletes end up broke, but I can't fault them for spending a majority of their income early in their careers. Many of them never really had childhoods and they now have the ability to buy what they want without thinking twice about it. At 18-22 years old they probably are thinking they will make that kind of money or more for another 10 years and they want to take their friends/family with them. Spending habits get formed and expenses (child support/mortgages) can put a millionaire in debt.

I liked the article, but the things that separated Foster from other players when he entered the league is likely the reason why he should able to be avoid the common story of an athlete that ends up broke after their career is over.
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