The Tragedy of Allen Iverson

[trojanfan12]

I try not to feel sorry for multi-zillionaires with all the talent in the world who make "bad choices" in life.

I don't know. I mean, I agree that people make their choices and live with the results. But on the other hand, how prepared are they for NBA life and money. If I had been handed the kind of money Iverson was at age 20, I don't know if I'd have been broke by 36. But I know it wouldn't have been pretty for awhile.

 

[chappee11]

I don't know. I mean, I agree that people make their choices and live with the results. But on the other hand, how prepared are they for NBA life and money. If I had been handed the kind of money Iverson was at age 20, I don't know if I'd have been broke by 36. But I know it wouldn't have been pretty for awhile.

That part is DEFINITELY true. But that's why you have an agent and (hopefully) a financial planner to help with the business side of things. Mike Trout has a zillion dollars at 23, and I just don't think we'll be reading about how he pissed it all away in 15 years.

 

[Sgt Brutus]

Both sad and as others have pointed out, sadly predictable. Too bad. He sure was fun to watch though. I wish leagues and teams did more to help these guys as far as getting them hooked up with reputable financial advisers, etc. Maybe they do. In the end, though, a financial adviser can only advise. These are still grown men and can do what they want with their money.

It seems that the biggest drain or downfall for them is all of the people they try to take with them when they make it. They're made to feel that they "owe" all of those people something.

My wife used to watch Keeping up with the Kardashians when Lamar Odom was married to Khloe. She showed me part of an episode where Khloe was going over Lamar's finances and it was amazing to me the number of people whose rents he was paying, car payments he was making, or just money he was giving them for their bills, startup business, etc.

He's only 36. That's old in the NBA, but I wonder if he could go overseas and make some money playing. I know Kobe (also 36) has talked about playing in Italy when his NBA career is over. I know there have been several older NBA players who have played overseas for a few years when their NBA career is over.

Is it comparable to soccer stars past 35 coming to the MLS to play because the league is easier/less talented then let's say the Premier League or La Liga?

 

[trojanfan12]

That part is DEFINITELY true. But that's why you have an agent and (hopefully) a financial planner to help with the business side of things. Mike Trout has a zillion dollars at 23, and I just don't think we'll be reading about how he pissed it all away in 15 years.

True, but he comes from a different background than Iverson. I saw a special about Iverson on Showtime and it gave me a little different perspective on him. He had learned to trust no one but those close to him. Unfortunately, those who were close to him had no better idea about what to do with all of that money than he did.

 

[kramer1]

He's an idiot. I have no sympathy for that fool.

 

[True Lakers Fan]

And he brought most, if not all, upon himself. That was a good read, though.

Many of these athletes don't think long term and they end up broke, which is fucking ridiculous when they make millions upon millions of dollars a year. The first thing I'd do if I were an athlete is get a financial advisor.

I've made my own share of mistakes, but learned from them. I am now 56, single with my own home which carries a mortgage. No credit cards, no car loan though and my bills in five months will be less than two-thirds of my total income. In short it took hard work and effort to put myself in that position. The only thing I need now is a wife who can add money and love to the household. It's just unreal that people like him have ended that way, but with his talents and skills he should be able to humble himself to becoming an assistant coach and make some money. His life is not over - He just has to reinvent himself

 

[chappee11]

True, but he comes from a different background than Iverson. I saw a special about Iverson on Showtime and it gave me a little different perspective on him. He had learned to trust no one but those close to him. Unfortunately, those who were close to him had no better idea about what to do with all of that money than he did.

"A fool and his money are soon parted"

 

[True Lakers Fan]

He's an idiot. I have no sympathy for that fool.

I don't like the guy, but yeah - I always feel sorry for people like that because the title is correct in that being a tragedy. These players get into a system with expensive houses, and big mortgages with no end in sight and forget that their homes should be on the pay level of their skills. Players like Kobe can afford a 19 million dollar home. Lebron can as well, but Iverson can't

 

[gordontrue]

Ingrained deeply in urban culture is a directive that if you "get out" of the ghetto... you give back. Everyone that had your back growing up, that was your homie... has nearly just as much right to the wealth as you.

Its not an easy situation for these guys. I agree that with a little bit of advice, foresight, guidance, or intelligence it can be overcome... but I personally find it hard to judge guys in these situations.

 

[kramer1]

I don't like the guy, but yeah - I always feel sorry for people like that because the title is correct in that being a tragedy. These players get into a system with expensive houses, and big mortgages with no end in sight and forget that their homes should be on the pay level of their skills. Players like Kobe can afford a 19 million dollar home. Lebron can as well, but Iverson can't

$154,494,445 - This is what he earned in the NBA. He was league MVP. He's a fuckin moron. There's no other way to say it.

 

[moxie]

I don't necessarily feel bad for him, but I do realize he had a difficult upbringing which unfortunately colored his future. In his 30 for 30, they showed a clip from his Stephen A. interview where he comments about going to jail 3 times, "for my actions, for my part on everything I deserved to be exactly where I was at every time that i went and I accept that". I feel like he's a classic case of getting the boy out of the ghetto, but can't get the ghetto out of the boy. Some people just don't have a strong enough will. It's unfortunate.

 

[trojanfan12]

Ingrained deeply in urban culture is a directive that if you "get out" of the ghetto... you give back. Everyone that had your back growing up, that was your homie... has nearly just as much right to the wealth as you.

Its not an easy situation for these guys. I agree that with a little bit of advice, foresight, guidance, or intelligence it can be overcome... but I personally find it hard to judge guys in these situations.

I agree. It's easy to look at that from the outside and just see a stupid person who threw away his money. But when you start taking their upbringing into the equation, it becomes easier to see why things like this happen to some guys.

Additionally, the more money someone has, the more people there are trying to get their hands on it. There have been athletes, celebrities, etc. more educated and with a better idea of how to handle their money than Iverson who have ended up in dire financial straits simply because they got duped.

Best advice that I ever heard re: coming into a lot of money came from Rush Limbaugh talking about lottery winners. He said, pick a few family members and friends that you are willing to help out or give money to and set a limit. Then move, change your phone number and only give that info to those people.

 

[gordontrue]

I agree. It's easy to look at that from the outside and just see a stupid person who threw away his money. But when you start taking their upbringing into the equation, it becomes easier to see why things like this happen to some guys.

Additionally, the more money someone has, the more people there are trying to get their hands on it. There have been athletes, celebrities, etc. more educated and with a better idea of how to handle their money than Iverson who have ended up in dire financial straits simply because they got duped.

Best advice that I ever heard re: coming into a lot of money came from Rush Limbaugh talking about lottery winners. He said, pick a few family members and friends that you are willing to help out or give money to and set a limit. Then move, change your phone number and only give that info to those people.

Yeah I heard a quote from one of the sharks on shark tank something like "Once you come into wealth... everyone you ever knew or met suddenly has a $10,000 problem"

 

[True Lakers Fan]

$154,494,445 - This is what he earned in the NBA. He was league MVP. He's a fuckin moron. There's no other way to say it.

He made stupid mistakes and yes he has wasted more money then I will see in a life time, but I still have some compassion for the guy. If you want to know why - it's because I see a person who thought money could buy happiness and it didn't. For me that's an unhappy man.

 

[Indrid Cold]

I don't see this as tragic...take away some portion of Iverson's impressive basketball skills and he becomes a guy who never did a damned thing with his life, probably was poor for the duration unless he got into something illegal and lucrative that would probably get him killed. Iverson was on top of the world for a while and fucked it up, but he did do something with his life. He's poor again, but at least he wasn't poor and hopeless his whole life.

 

[kramer1]

He made stupid mistakes and yes he has wasted more money then I will see in a life time, but I still have some compassion for the guy. If you want to know why - it's because I see a person who thought money could buy happiness and it didn't. For me that's an unhappy man.

He also made tens of millions through endorsement deals. Just sayin. The guy is a boob. And I vote democrat!

 

[True Lakers Fan]

He also made tens of millions through endorsement deals. Just sayin. The guy is a boob. And I vote democrat!

Yes, I heard you the first time, and yet I still feel sorry for the guy. Some of us has compassion and some of us don't. Live with it

 

[True Lakers Fan]

But I don't know what the hell voting for democrats has to do with the topic

 

[kramer1]

But I don't know what the hell voting for democrats has to do with the topic

Having compassion for a moron is a Liberal point of view. Of course, you knew that.

The guy is a complete and total buffoon. Always has been. How anyone can have any sort of compassion for a person like that is absolutely beyond belief.

 

[Win TWINS!!!]

Not feeling too bad for the guy. He still has his Reebok trust fund that kicks in when he is 55. Of course, 1/2 goes to his ex, but he'll still be LOADED (provided he lives until then).