Iniesta is a perfect example of saving up for the future, still playing now for Emirates Club making a fortune. Barely breaking a sweat and I’m sure he’ll retire when he feels comfortable financially.
I never thought I'd hear "Jujutsu Kaisen" and football in the same video. I guess you're the second football TH-camr that I've know to combine both anime and football. The first is Maqwell
I wish clubs would give players an option to divert some of their payments to investments/savings. Education on finance is key, no one expects to make 10m+ in a decade.
Black tax is real especially in Africa Currently experiencing this with family and and not what you would classify as rich just barely scraping by myself
ESPN did a great documentary called "Broke" that touches on a lot of these issues. One of my favorite lines was from a team president that would tell players "you can live like a king for five years, or you can live like a prince for the rest of your life". Something they noted was players not factoring in taxes. When you make that much money in a short time, you might not realize that 40% (probably more in Europe) doesn't really belong to you, and athletes can't hide that money the way business execs or other high earners do. Also the overlap of friends/family and bad investments. Your cousin wants to open a restaurant or a childhood friend has a great idea for a startup, they tell you it's not a handout it's an investment, plus you "owe" them from when you were growing up so you make a bad investment on their behalf.
I think it's a combination of a lotta things: bad investments, excessive spending, alcohol and drug addiction, etc. It's not something limited to sports athletes. That's a common occurrence in the music industry, most notably in the Hip Hop/R&B scene.
The sad part is no one is taught economics in school. Economics in maths lessons, not algebra. The establishment don’t want us to know because then how will we get in debt. 😢
Once there was an Argentinien player in Corinthians called Defederico. The Argentinien press called him the new Messi. Lost all gambling in São Paulo nights.
Pls do a video on Alfredo Di Stefano I never see people talk enough about him in the Goat debate imo he is only behind Messi and Pele. The greatest signing in Madrid history and the reason why they are the club they are today. As well as the most complete player the game has ever seen. Yet not enough people mention him. The only winner of the Super Ballon d'or. And won 2 ballon d'ors and it lnly existed when he was past 30 Messi himself has only won 3 past the age of 30 he could easily won at least 4 probably 5 ballon d'or if it existed since he began playing the game.
I respect Roc Nation Sports for this very reason! They have guys like KDB, Lukaku, Martenelli and others on their roster. They out an emphasis on what their athletes will do after their careers are over and offer assistance in financial management and investment. Let's see how it'll work out for them in the future.
There's a Icelandic saying "the need teaches a naked woman to spin clothes" very roughly translated. It meand if you need to learn something. You learn it.
the problem is after football what skills do they have? theres no education, no skills. its insane. Former captain of Australia just went bankrupt the guy is 46 and lived like we was in his 70s. Again, like the rest of us get yourself educated and back to work
I'm no expert but I would imagine a lot of it has to do with the fact that these athletes tend to get successful quite young and therefore do not exactly learn the value of money that comes with having to work your ass off to make less than $50 a day. I am very confident that, if I had been handed a contract worth a couple million a year, I would be squandering my change. I think there is also a lack of forward thinking in spending habits among a lot of footballers. I mean, Martin Braithwaite -- an admittedly average professional footballer -- is worth well over $260 million because he owns a very lucrative real estate company back in his native Denmark. If more footballers invested their money into profitable businesses or saved, I'm sure they would not struggle as much.
These dudes need educated when they’re young on money and asset management. But while there is such focus in entertainment cycles on the bling lifestyle, there will always be guys who only want to play football for the money.
No the statistics provided are misleading, remitance in africa is a bigger issue than in asia or the west, firstly there are more asians in the world and more in europe working better jobs or wealthier but as for africans it doesnt matter if you clean toilets in london you still have to send that money back in africa, black people are simply too social, where as westerners arent, ive lived in london for decades and white people are motivated and keep to their own, they dont even talk to family or know their neighbour but black people are always social and thats what obi mikel was trying to convey, soon as you become a footballer from africa all your unknown relatives starts showing up
I think its easy for us to criticize what these players do and while id like to think that i wouldnt waste the money quite that badly, i gotta be honest and say that as a 20 sth young man that yeah, i probably wouldve been dumb with it too. As for the investments, not every one will work out, even if u do ur homework. But i think a lot of times the athletes just invest cuz someone told them its a good idea and they didnt really think it through or hired a professional to help them. And the ppl u have around u r massively important, with Allen Iverson being a prime example. One time his friends went to the airport to pick someone up, then couldnt find their car (some top of the line mercedes or some other really expensive car), so they said "fuck it", went to the dealership and bought another brand new one. The fact that they had access to that kind of money wasnt smart on the part of AI, but the more egregious part if that his "friends" couldnt be bothered to remember where they parked the car and then simply spent all that money, showing just how lil they cared and appreciated it.
it's as simple as the fact that eventhough these footballers are immensely talented, they are(for the large part) unintelligent, they have no idea of concepts like generational wealth, saving up, investing etc, so they just spend all that they make and have nothing to spare at the end of their careers
.... You can't go skiing except you are Manuel Neuer that cracked me up. Btw why is there never a rich woman in the news going over divorce and loosing half of her stuff to her hubby
If you think remmitance around the world is the same as africa youre sadky wrong my friend😂 People in afica(family members) will hit you with bith physical and spiritual attacks if you dont send or send the amount they request😂
Anecdotally, I remember a story about a Premier League player who was just letting his wages pile up in his bank account, to the point where he had £4m sitting there. His team mates found out and all said, are you crazy, you should be in this investmant plan and this tax scheme. But I think he was maybe the smart one.
You have a very calming voice, a great sense of humor and most of your videos are great quality content for people who are into football. Keep up the good work.
So true, the richer you get, the farther you should go from marriages and marriage itself is a failed investment. You pay for someone everyday expenses only to later lose 40-50% of all your assets when they feel they can't milk you enough anymore
@@Anonymous-fr2op Well, im coming from a country where this 50% rule just not exists and you are not required to pay for someone elses lifestyle (but your childrens) after you dissolved your legal contract between the two of you. But damn bro, you got some women issues. And with that i dont mean issues due to women, but issues WITH women.
From Kenya. Thanks for an informative and well balanced video. It;s great that unlike most social media news,you are not solely bashing African players in the pro leagues....I was disappointed to read many negative posts online that the frugal yet charitable Sadio Mane is greedy and money hungry for leaving Liverpool to Bayern yet thousands of players move for higher wages each season!
It's also well documented that Sadio does so much for people in his home community and country, he built a school, a hospital he even donated money during covid and he has done so much more that people are not aware of. Easy to judge a book by it's cover.
I think the clubs should stop giving out these ridiculous wages in a short window. Instead of paying out 60k a week, give the player half of that and put the rest in a fund which will be paid long term after retirement. Kind of like how pensions work. There is no excuse to give kids (yes kids) this amount of money when they have barely finished high school.
It's a good idea but this should be done by the players not the clubs. Players should take economic literacy courses to set themselves up for the future.
And then a club down the road offers 100% of the wages up front to a dumb 18 year old and he's gone there instead. Could only work if EVERYONE did it. As if Bohly wouldn't find a loophole.
@@VelvetMetrolink i understand that but you said nit yourself. An 18 year old. He might be dumb but he is an adult. Clubs should offer literacy courses as it will make the players aware of the benefits, risks and mitigations. If they screw up, then it should be on the individual not the collective
@@eldios831 Yes. It's seems a good idea in theory, but not really practical. It really should be up to the player to hire a pro to help manage his money, and have the discipline to set a monthly spending limit and live within it.
Then there's the Robert Gronkowski school of personal finance. "Gronk" played for the New England Patriots (American football). He caught footballs thrown to him by the fabulous quarterback Tom Brady and scored tons of touchdowns, won lots of trophies. When he was at Arizona State University, waiting to be drafted into the NFL, his father challenged him not to spend any of his NFL salary and only live off endorsement income. In the last year of his career he was earning, allegedly, eight million a year in endorsements and had never spent his NFL salary or bonuses. I wondered if this was true. When he transfered from the NE Patriots to the Tampa Bay Buccaneers, he sold his Boston home, which was listed in the paper and on real estate web sites. It was a two bedroom condominium selling for just over a million dollars. It was a nice condo, but it wasn't a mansion and the upkeep expenses were definitely low. Of course, Gronk has never married and has no children which also keeps expenses low.
important topic! Most people, even in Western countries where we say Education is so amazing etc. have had little to no education when it comes to finances and this is not a mistake but it's by design! It's easy to fool people if they don't know or are naive.
Could you make a video about the 2023 Brasileirão season? Botafogo led the championship for 31 rounds to end up finishing fifth after ten matches without victories. Not to mention Santos' unprecedented relegation.
Don't think it's particularly complicated honestly. Footballers (most athletes honestly) come from disproportionately low income families and areas and often have pretty poor educations because they spent so much time focussing on football over everything else. This lack of experience and education, combined with the fact that football skill is probably not correlated with intelligence, means you're going to have a lot of young, slightly dim men with huge amounts of disposable income, no experience with handling it and often not knowing anybody who does. What other outcome can you actually expect from that scenario besides bankruptcy? Personally I've thought clubs should take some more responsibility in ensuring their players are financially literate and have the knowledge to avoid this. It's not exactly complicated to stick some money in a savings account or pension scheme, but if no-one you know does it or has any idea about it, plenty of them might not think about it
Yeah I think people underestimate this if you come from a poor background getting given 10m in like 2 years can be so damaging. Like giving a starving man a buffet (can end in a heart attack). I have money issues and I know if I won the lottery tomorrow I would fucking destroy myself in 6 months.
@@Dd-ks2fmdo you think so? I don't think we give ourselves credit for being self aware that if we get lucky we will ruin ourselves. Like me I always thought if I had money, I would live the same as I do now. I train, I work and I study just somethings become easier
@@Dd-ks2fmnah you are only thinking worst case scenario. It isn't the poor background or lack of education that does these players in. It is simply lack of restraint and ego. They lack the discipline to not buy what they don't need to buy... and they lack the humility to understand that doing drugs and partying etc etc has consequences for everyone and that they aren't special or different. In the case of some brazilians it is their ego that makes them eat and drink and party without care, thinking that their enormous talent makes up for all of it. They adapt the same behaviour financially. They assume their enourmous wealth and brand image will mean that they can never truly be poor again... And finally, their choice in the people they share their life with. Marrying the wrong person, having the wrong friends or the wrong agent can destroy them the worst possible way.
Money is an amplifier. it shows you who you really are those who are broke before the money will go back to being broke. it doesn't only amplifier you it also amplifies the people around you, it will show you who is your really friends are and the fakes that just helped you to get free money. once you start getting money start find new friends, i mean good ones not those that leave of daddy's money, those who work and grind to get money should be your new friends. also family are even worse than friends.
I think ahletes all have addictive personalities. If they didn't do sports, they would doing every drug ever invented. Addictive personality and money don't mix. It's only a theory of mine.
I miss the days when youtube comments were full of memes and jokes about the video...but amazing video nonetheless😄. Keep up the great work and I hope to see a UCL Group Stage Review coming soon!
Really Good video bro, and it's a bit of an eye opener to a lot of us. When we sometimes compare our life, with a pro baller. Saying stuff like "He is making 100k a week.He should be performing" But we forget New Levels,New Devils.... 1st world problems is heaven to someone in a 3rd world country
Here in the states, a lot of the reasons pros go broke is financial illiteracy. You aren't taught how to manage money here, bc of that most hire someone to handle that. Don't even learn how to do taxes, so same person or another person is hired to handle that. With all of that pros are buying a big house or 2 for themselves, a big house for their mom and grandma, and then buying a few cars for themselves, a car for mom, car for some friends. Generally just wreckless spending, bc they don't know how fast that money can drain and all those things they are buying requires a recurring payment. Shaq has spoken about how after his rookie season he hired someone to teach him to handle his money, bc he was spending like crazy and went to buy something simple and basic, but card was declined.
As someone who has simple tastes, I find it hard to even imagine where they spend the money. Cars, yachts and lavish homes are not investments, but you can recover some or all the money. I guess they eat, drink and fuck all the money.
Those net worth estimates are completely made up. Two examples: I personally worked with a A+ popular musician. I was their accountant. Estimated net worth per the various sites was around $50m. Actual balance of all their combined bank accounts was less than than $5k. Also had a MASSIVE delinquent tax bill. Had some assets but nothing close to $50m. Example 2: my coworker had a single acting credit for a super low budget film. EST net worth: $1m. She was broke 😅
Iniesta is a perfect example of saving up for the future, still playing now for Emirates Club making a fortune. Barely breaking a sweat and I’m sure he’ll retire when he feels comfortable financially.
Paying for Sky Sports subscription will make anyone go broke
Damn how much does it cost?
I would imagine even a few drinks in pub (where he watched) every month is more expensive?😀
@@lukazupie7220a few drinks a month in a pub even nowadays with extortionate prices would be like £20 sky sports is £50
I never thought I'd hear "Jujutsu Kaisen" and football in the same video. I guess you're the second football TH-camr that I've know to combine both anime and football. The first is Maqwell
@@X-X870Same
I wish clubs would give players an option to divert some of their payments to investments/savings. Education on finance is key, no one expects to make 10m+ in a decade.
LoL😂 they have that option! They can invest 100% of it how are the clubs stopping them?😂
Black tax is real especially in Africa
Currently experiencing this with family and and not what you would classify as rich just barely scraping by myself
Lazy people expecting their family to work for them. Amazing.
I would call it “social debt”
what is black tax?
this happens in many cases in Asia. Compared to the more "individualized" west, developing cultures tend to have this habit.
ESPN did a great documentary called "Broke" that touches on a lot of these issues. One of my favorite lines was from a team president that would tell players "you can live like a king for five years, or you can live like a prince for the rest of your life".
Something they noted was players not factoring in taxes. When you make that much money in a short time, you might not realize that 40% (probably more in Europe) doesn't really belong to you, and athletes can't hide that money the way business execs or other high earners do. Also the overlap of friends/family and bad investments. Your cousin wants to open a restaurant or a childhood friend has a great idea for a startup, they tell you it's not a handout it's an investment, plus you "owe" them from when you were growing up so you make a bad investment on their behalf.
I think it's a combination of a lotta things: bad investments, excessive spending, alcohol and drug addiction, etc.
It's not something limited to sports athletes. That's a common occurrence in the music industry, most notably in the Hip Hop/R&B scene.
The sad part is no one is taught economics in school. Economics in maths lessons, not algebra. The establishment don’t want us to know because then how will we get in debt. 😢
Bro just did an episode of "I Blew It : Football edition" 😂😭
We can sympathize with these players as much as we like but there is so much we can do
Unbiased, in depth, football centric, well explained AND gives anime recommendations?
God tier channel
Once there was an Argentinien player in Corinthians called Defederico. The Argentinien press called him the new Messi. Lost all gambling in São Paulo nights.
Neymar, this is a warning video for you
Lol can never happen to neymar except he's very stupid
On top of a crazy good look at one of the darker sides of being a professional athlete we get a JJK reference, what mroe can we ask for? 🔥video!
I saw the title and was surprised it wasn't about my beloved United
I love this channel so much. Spot on man! Keep doing what you do, also JJK reference? You know ball and anime homie!
Pls do a video on Alfredo Di Stefano I never see people talk enough about him in the Goat debate imo he is only behind Messi and Pele. The greatest signing in Madrid history and the reason why they are the club they are today. As well as the most complete player the game has ever seen. Yet not enough people mention him. The only winner of the Super Ballon d'or. And won 2 ballon d'ors and it lnly existed when he was past 30 Messi himself has only won 3 past the age of 30 he could easily won at least 4 probably 5 ballon d'or if it existed since he began playing the game.
You lost it after saying he's only behind Pele and Messi
yeah ian readin allat
Interesting that you say this because nobody who has watched him play is still alive. Or they are too old to remember.
He was cool but chill....
Great video as always.
Really enjoyed this one!
I respect Roc Nation Sports for this very reason! They have guys like KDB, Lukaku, Martenelli and others on their roster. They out an emphasis on what their athletes will do after their careers are over and offer assistance in financial management and investment. Let's see how it'll work out for them in the future.
Alan Iverson had a large amount of money put in a trust by Reebok that can’t be used until he is 40 or 45
My coach is Momo Diabang, who played in the Bundesliga and scored 17 goals there is now working for Hermes for 2k per month
Great video!
Good video, interesting topic!
Hey! Love the videos.... do something on Spurs or kane pleaseee
When was Eboué a "beloved Arsenal defender"? He was a liability more often than not.
I'll be waiting for the Liverpool vs Man utd video, I believe the match will potentially shock many of us.
Amazing content
Chrismas came early 🎉
Loool! My ex is a phd student from antwerp uni. I have a hoodie and a t from there. Wilrijt rules! Long live Colruyt 😅😅😅
Upkeep of their mansions and whatnot probably drains them so much
Football and shibuya arc have been the weekly stabilizers
great video
True players earn 600k per week will spend money crazy.Important think about finance post retirement done playing football
1 hour club
The people who know how to handle money the best belong to the middle class.
There's a Icelandic saying "the need teaches a naked woman to spin clothes" very roughly translated. It meand if you need to learn something. You learn it.
the problem is after football what skills do they have? theres no education, no skills. its insane. Former captain of Australia just went bankrupt the guy is 46 and lived like we was in his 70s. Again, like the rest of us get yourself educated and back to work
After his Saudi contract what drug would make you put neymar on the thumbnail
Perfect length of episode. 2137 for life
I'm no expert but I would imagine a lot of it has to do with the fact that these athletes tend to get successful quite young and therefore do not exactly learn the value of money that comes with having to work your ass off to make less than $50 a day. I am very confident that, if I had been handed a contract worth a couple million a year, I would be squandering my change.
I think there is also a lack of forward thinking in spending habits among a lot of footballers. I mean, Martin Braithwaite -- an admittedly average professional footballer -- is worth well over $260 million because he owns a very lucrative real estate company back in his native Denmark. If more footballers invested their money into profitable businesses or saved, I'm sure they would not struggle as much.
But seriously how is someone working as a bricklayer and playing semi pro on the side considered “struggling” ?
Education is the number 1 reason
Biggest case of;"WOAH...YOU DON'T SAY!?" This video is.
These dudes need educated when they’re young on money and asset management. But while there is such focus in entertainment cycles on the bling lifestyle, there will always be guys who only want to play football for the money.
No the statistics provided are misleading, remitance in africa is a bigger issue than in asia or the west, firstly there are more asians in the world and more in europe working better jobs or wealthier but as for africans it doesnt matter if you clean toilets in london you still have to send that money back in africa, black people are simply too social, where as westerners arent, ive lived in london for decades and white people are motivated and keep to their own, they dont even talk to family or know their neighbour but black people are always social and thats what obi mikel was trying to convey, soon as you become a footballer from africa all your unknown relatives starts showing up
Why have you got Neymar on your thumbnail?
that Jujutsu Kaisen bit made me laugh
When are you going to be in Zimbabwe?
sorry but i am not feeling sorry for pro athletes, if they are lonely they could try getting into meaningful relationships
That’s hard for them because they get pursued by people wanting their money and fame - not them as people
I mean, they start making that money in their teens, nowadays....
@FootballIconic Asamoah Gyan is quite rich, even has a mansion in Ghana. He is far from broke
He watches JJk??
W!!!
The Jujutsu Kaisen cameo lmao
Because they spend spend spend when they have the money, that's why the greats make investments for there long-term, It's not rocket science
Nah, I'd win
I think its easy for us to criticize what these players do and while id like to think that i wouldnt waste the money quite that badly, i gotta be honest and say that as a 20 sth young man that yeah, i probably wouldve been dumb with it too.
As for the investments, not every one will work out, even if u do ur homework. But i think a lot of times the athletes just invest cuz someone told them its a good idea and they didnt really think it through or hired a professional to help them.
And the ppl u have around u r massively important, with Allen Iverson being a prime example. One time his friends went to the airport to pick someone up, then couldnt find their car (some top of the line mercedes or some other really expensive car), so they said "fuck it", went to the dealership and bought another brand new one. The fact that they had access to that kind of money wasnt smart on the part of AI, but the more egregious part if that his "friends" couldnt be bothered to remember where they parked the car and then simply spent all that money, showing just how lil they cared and appreciated it.
Why is Neymar on the thumbnail?
it's as simple as the fact that eventhough these footballers are immensely talented, they are(for the large part) unintelligent, they have no idea of concepts like generational wealth, saving up, investing etc, so they just spend all that they make and have nothing to spare at the end of their careers
Jujutsu Kaisen is overrated. 7/10 at best.
Let's be honest FI, Africans aren't known to be the best at saving money😆
.... You can't go skiing except you are Manuel Neuer that cracked me up. Btw why is there never a rich woman in the news going over divorce and loosing half of her stuff to her hubby
Because there are far more ultra-rich men than rich women due to a series of historical and cultural reasons.
Asamoah Gyan is actually rich he owns a washing detergent company and a drinking water company
Gambling plagues all professional sports leagues. Look into the NBA and booray
lol I can attest to the fact the Asamoah Gyan did not go broke or whatsoever😂. He lives the life of a king in Ghana
martin braithwaithe is the antithesis of these players i guess..
Baguet o dinho
Is this video to cope and delay the Man United crashing out of Europe video? we humbly await your despair.
So they made you give up on the leagues on a whole huh can't blame ya
Ill say it again, underrated channel. One of the best out there.🫡
I remember this was reason why I didn’t go try football (NFL) I didn’t want to go back to being broke after my career had I did make it
If you think remmitance around the world is the same as africa youre sadky wrong my friend😂
People in afica(family members) will hit you with bith physical and spiritual attacks if you dont send or send the amount they request😂
Anecdotally, I remember a story about a Premier League player who was just letting his wages pile up in his bank account, to the point where he had £4m sitting there. His team mates found out and all said, are you crazy, you should be in this investmant plan and this tax scheme. But I think he was maybe the smart one.
Stay single bros...these 304s ain't playing.
You have a very calming voice, a great sense of humor and most of your videos are great quality content for people who are into football. Keep up the good work.
Divorce and "failed investments" are the number one killer of finances for any high earner. We just see it more with athletes.
Bitches I bet are the main bank roll parasite😂😂
No it is not just that lol, it happens for them at a MUCH higher rate.
So true, the richer you get, the farther you should go from marriages and marriage itself is a failed investment. You pay for someone everyday expenses only to later lose 40-50% of all your assets when they feel they can't milk you enough anymore
@@Anonymous-fr2opor when they find someone they feel is better than you after they get bored
@@Anonymous-fr2op Well, im coming from a country where this 50% rule just not exists and you are not required to pay for someone elses lifestyle (but your childrens) after you dissolved your legal contract between the two of you.
But damn bro, you got some women issues. And with that i dont mean issues due to women, but issues WITH women.
From Kenya. Thanks for an informative and well balanced video. It;s great that unlike most social media news,you are not solely bashing African players in the pro leagues....I was disappointed to read many negative posts online that the frugal yet charitable Sadio Mane is greedy and money hungry for leaving Liverpool to Bayern yet thousands of players move for higher wages each season!
It's also well documented that Sadio does so much for people in his home community and country, he built a school, a hospital he even donated money during covid and he has done so much more that people are not aware of. Easy to judge a book by it's cover.
Reminds me to 'Guz' from Breaking Bad
Can tell you even many German players are known to be bankrupt after 2-4 years after the end of their careers.
I deffinitely watched the entire video in a couple seconds
Liar!
I believe it my guy
Couple of 100000 seconds
I know, trust me.
JJK IS FIRE!!! Didn't know you watched? Also amazing videos and Merry Christmas XD@@FootballIconic
I think the clubs should stop giving out these ridiculous wages in a short window. Instead of paying out 60k a week, give the player half of that and put the rest in a fund which will be paid long term after retirement. Kind of like how pensions work.
There is no excuse to give kids (yes kids) this amount of money when they have barely finished high school.
It's a good idea but this should be done by the players not the clubs. Players should take economic literacy courses to set themselves up for the future.
And then a club down the road offers 100% of the wages up front to a dumb 18 year old and he's gone there instead. Could only work if EVERYONE did it. As if Bohly wouldn't find a loophole.
@@VelvetMetrolink i understand that but you said nit yourself. An 18 year old. He might be dumb but he is an adult. Clubs should offer literacy courses as it will make the players aware of the benefits, risks and mitigations. If they screw up, then it should be on the individual not the collective
What if the club goes into receivership....this can only be achieved if laws are enacted
@@eldios831 Yes. It's seems a good idea in theory, but not really practical. It really should be up to the player to hire a pro to help manage his money, and have the discipline to set a monthly spending limit and live within it.
You gotta be prepared to save for long term, especially if you’re earning that much money.
Tell that to Neymar living in freaking saudi Arabia and always had the pressure to become o' rei pelé
@@hansalvarado4286 I think that stopped after the last World Cup sadly
The fact that you know JJK just made me love your channel more 😂. Keep it up
Then there's the Robert Gronkowski school of personal finance. "Gronk" played for the New England Patriots (American football). He caught footballs thrown to him by the fabulous quarterback Tom Brady and scored tons of touchdowns, won lots of trophies.
When he was at Arizona State University, waiting to be drafted into the NFL, his father challenged him not to spend any of his NFL salary and only live off endorsement income. In the last year of his career he was earning, allegedly, eight million a year in endorsements and had never spent his NFL salary or bonuses.
I wondered if this was true. When he transfered from the NE Patriots to the Tampa Bay Buccaneers, he sold his Boston home, which was listed in the paper and on real estate web sites. It was a two bedroom condominium selling for just over a million dollars. It was a nice condo, but it wasn't a mansion and the upkeep expenses were definitely low.
Of course, Gronk has never married and has no children which also keeps expenses low.
Be like Bob😂😂😊😊
important topic!
Most people, even in Western countries where we say Education is so amazing etc. have had little to no education when it comes to finances and this is not a mistake but it's by design!
It's easy to fool people if they don't know or are naive.
I think if Football Academies can balance both Education and Football that wil help
Could you make a video about the 2023 Brasileirão season? Botafogo led the championship for 31 rounds to end up finishing fifth after ten matches without victories. Not to mention Santos' unprecedented relegation.
Don't think it's particularly complicated honestly. Footballers (most athletes honestly) come from disproportionately low income families and areas and often have pretty poor educations because they spent so much time focussing on football over everything else. This lack of experience and education, combined with the fact that football skill is probably not correlated with intelligence, means you're going to have a lot of young, slightly dim men with huge amounts of disposable income, no experience with handling it and often not knowing anybody who does. What other outcome can you actually expect from that scenario besides bankruptcy?
Personally I've thought clubs should take some more responsibility in ensuring their players are financially literate and have the knowledge to avoid this. It's not exactly complicated to stick some money in a savings account or pension scheme, but if no-one you know does it or has any idea about it, plenty of them might not think about it
Yeah I think people underestimate this if you come from a poor background getting given 10m in like 2 years can be so damaging. Like giving a starving man a buffet (can end in a heart attack). I have money issues and I know if I won the lottery tomorrow I would fucking destroy myself in 6 months.
@@Dd-ks2fmdo you think so? I don't think we give ourselves credit for being self aware that if we get lucky we will ruin ourselves. Like me I always thought if I had money, I would live the same as I do now. I train, I work and I study just somethings become easier
Yeah but is it the clubs responsibility? If I go and spend this months wages on hookers and cocaine how is that my employer's fault?
@@Dd-ks2fmnah you are only thinking worst case scenario. It isn't the poor background or lack of education that does these players in. It is simply lack of restraint and ego. They lack the discipline to not buy what they don't need to buy... and they lack the humility to understand that doing drugs and partying etc etc has consequences for everyone and that they aren't special or different. In the case of some brazilians it is their ego that makes them eat and drink and party without care, thinking that their enormous talent makes up for all of it. They adapt the same behaviour financially. They assume their enourmous wealth and brand image will mean that they can never truly be poor again... And finally, their choice in the people they share their life with. Marrying the wrong person, having the wrong friends or the wrong agent can destroy them the worst possible way.
@@fuzzyhair321 Statistically speaking, it's been found that a majority of the lottery winners lose their money very quickly.
I know you made this video to numb the pain thats about to come to us Red Devils, i hate Liverpool 😭
I'm here for the JJK shout! You're are truly a cultured man.
good vid
That JJK reference was spot on👌🏾
Why'd you ruin my image of Silva with that clip dude 😭😭😭😭 he was one of the few I liked on city 😂😂😂😂
Money is an amplifier. it shows you who you really are those who are broke before the money will go back to being broke. it doesn't only amplifier you it also amplifies the people around you, it will show you who is your really friends are and the fakes that just helped you to get free money. once you start getting money start find new friends, i mean good ones not those that leave of daddy's money, those who work and grind to get money should be your new friends. also family are even worse than friends.
Well said. Money manifests people's real characters
I think ahletes all have addictive personalities. If they didn't do sports, they would doing every drug ever invented. Addictive personality and money don't mix. It's only a theory of mine.
Thank you for your tactful discussion of a sensitive subject! You have provided many viewers with an entirely new perspective. 🙏😃🎯⛄️🎄
let's not beat about the bush here, most athletes aren't all there in the brain department.
He watches JJK too bro is fr the homie
I miss the days when youtube comments were full of memes and jokes about the video...but amazing video nonetheless😄. Keep up the great work and I hope to see a UCL Group Stage Review coming soon!
Really Good video bro, and it's a bit of an eye opener to a lot of us. When we sometimes compare
our life, with a pro baller.
Saying stuff like "He is making 100k a week.He should be performing"
But we forget New Levels,New Devils....
1st world problems is heaven to someone in a 3rd world country
Most footballers are not that smart.
Here in the states, a lot of the reasons pros go broke is financial illiteracy. You aren't taught how to manage money here, bc of that most hire someone to handle that. Don't even learn how to do taxes, so same person or another person is hired to handle that. With all of that pros are buying a big house or 2 for themselves, a big house for their mom and grandma, and then buying a few cars for themselves, a car for mom, car for some friends. Generally just wreckless spending, bc they don't know how fast that money can drain and all those things they are buying requires a recurring payment. Shaq has spoken about how after his rookie season he hired someone to teach him to handle his money, bc he was spending like crazy and went to buy something simple and basic, but card was declined.
As someone who has simple tastes, I find it hard to even imagine where they spend the money.
Cars, yachts and lavish homes are not investments, but you can recover some or all the money. I guess they eat, drink and fuck all the money.
I’m from the future, and this video is a banger.
Those net worth estimates are completely made up. Two examples:
I personally worked with a A+ popular musician. I was their accountant. Estimated net worth per the various sites was around $50m. Actual balance of all their combined bank accounts was less than than $5k. Also had a MASSIVE delinquent tax bill. Had some assets but nothing close to $50m.
Example 2: my coworker had a single acting credit for a super low budget film. EST net worth: $1m. She was broke 😅