Joe Smith on Making $61M During NBA Career, $18M After Taxes, Broke After Divorce (Part 14)
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- เผยแพร่เมื่อ 19 พ.ย. 2023
- Watch Full Interview: • Joe Smith on His Wife ...
Part 13: • Joe Smith on His Wife ...
Part 15: • Joe Smith on Moniece S...
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Joe Smith opened up about the toll of personal life on his wealth. Smith, who made a total of $61 million over his professional basketball career, admitted he fathered four children outside his marriage. The final straw for his wife was a picture posted on Twitter showing Smith asleep with a woman. Smith confessed that the divorce took a sizable chunk of his retirement money (approximately $3 million) and landed him $157,000 in debt. Further contributing to his financial troubles were poor real estate deals and expensive car purchases. He strongly emphasized the need for young and upcoming athletes to manage their income wisely to avoid facing a similar situation in the future. - บันเทิง
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You can’t deny the amount of smart intelligent wealthy who have made fortunes off real estate. You’re not a master of all. You know podcasting and interviews. You clearly don’t know real estate. I’m a derelict dumb surfer and I’m soooo glad I took a zero down interest only adjustable loan in sub prime predatory days because I’m now RICH! Sorry Vlad you’re just not smart at everything but I’m shocked you’ve lost ANY MONEY AT ALL in housing?!? Who managing your dough bro?!? Fire that idiot!
Like Kevin Samuels said. Just because you’re rich doesn’t make you a high value male. We need to practice Dic Discipline.
KS was a fraud
I’m not gonna take what Kevin Samuels said with any type of merit because he has literally contradict everything he has said but on the flipside when you don’t protect your money or your investments you end up broke
How can u be disciplined with what u never had 🤔 u don’t think it ever stops.
Every one doesn’t wanna live pinching Pennie’s like. Chad. Johnson These opinions always come when u can’t make that type money it’s always what u would do. Not what u have done. Man it’s not as simple to make money it takes serious money. N u never had money to invest who do u trust who do follow. Who guides u who u feel isn’t out to take or rob u. Ur family ain’t it. They been poor like u no success. Stop looking at guys for poor choices. When anyone can make them or have an investment go wrong.
He's a human being that made a mistake....you haven't made mistakes in your life???
Kevin Samuels was full of shit. His original definition of a high value man was a man that belonged to the top 1%-10%, which is obviously a rich man.
He really laughing thru the pain
what pain? bro had 4 kids outside the marraige, lol. he a bozo.
I don’t feel bad for this clown 😂😂😂😂
His wife divorced him when the picture of him sleeping in another woman’s bed AND the NBA checks were over!
Think about it, 4 children outside of the marriage and she stayed.
Joe thinks a picture cause the divorce.
My thoughts are like 80% of professional athletes wives, once the checks stop, “I can’t take this anymore!”
Yup. NFL QB Jay Cutler's wife did the same thing to him not too long ago.
Joe a real one. 💯 His story will help more than he even understands.
Seem like a nice person when your young mistakes will come.
I respect him for being honest.
Good player.
Having 4 kids on your wife is not a mistake.
That takes effort.
Cause if he said his wife had 4 kids on him, you would not be calling her a nice person. You would be diagnosing her as a narcicisst.
True.Sometimes these women
know there gona be set for life.
If he was broke I don't think
She be so interested.
I can see why his wife stuck with him even though he had kids outside of marriage .She knew she'd get the last laugh during a divorce proceedings and she did.
Nah, the destruction of that $80+Million dollar deal Him & His wife was depending on to get led Him to overspend more than He was worth. She woulda got more. And bad sellings in real estate, not the market (because of divorce) caused Him to be broke.
The 2 biggest investments u ever make in life is who u Choose to have kids with, and who you choose to marry. And that’s FACTS 💯 not stocks , not realstate, and not a buisness. Let that sink in deep
💯
Well Maybe don't get married & don't be a Beta Male.
This broke mentality.
If marriage is an investment for you, idk what’s going on.
Hood philosopher
Lets not forget he had 4 kids outside of his marriage. Wife was pissed I'm sure.
@@fredm.2699 see your probably not married so I get it if u don’t understand. A single man can’t understand how it can benefit or destroy u
This interview is eye opener on so many levels. Respect to Joe Smith, solid career…
64M on 16 years in the NBA seems low.
You have to aggressively try to go broke when earning $61 million. Just an FYI everyone - athletes will keep at minimum 45-50% of their income so these numbers aren't remotely accurate. He should have had closer to $30 million after taxes.
I’m guessing the fees for managers can add up.
Didn’t watch the vid huh 😂😂, you internet people are hilarious
The other went to the agent I’m sure
Thank you for using the calculator, Spence
That's what I was thinking, but he said after taxes AND agents, advisors etc fees. That signals to me he got got, and his agents etc are living well.
After watching this I have mad respect for this man's honest openness. When these big money contracts are advertised by these sports leagues, it is a marketing strategy to peak your interest. They do not advertise the actual small percentage the players actually receive. To all future prospects, please listen to this gentleman, he is speaking the truth.
what a life. Fellas, I hope we pick a lesson or two about his situation
He thinks with the wrong head. Same reason why he decided to marry a pstar.
Yup and that’s why he hast to look in the mirror and take the majority of the responsibility.
4 children outside your marriage is plain sloppy and 10000% disrespectful.
damn, happy he can laugh about it but there's a lot of pain in them giggles, hope things work out in the future
The realest interview ever!
4 kids outside marriage that's why she took this ninja up top
Every situation Vlad somehow makes it about him as well. I guess that’s his tactic for good conversation.
Gotta relate to others so they can open up
Umm yeah it is…
@@fredm.2699he gone bring up 2pac n Suge next
That’s smart tho that’s how u get the other person comfortable to snitch on themselves 😂
*At this point....Joe better do OF with his wife🤦🏽♂️🤦🏽♂️🤦🏽♂️*
😂😂😂😂 wildin!
Joe Smith seems to be a great human being.... GOD Bless You Joe Smith
4 kids outside is marriage... your crazy... hes cut throat and ruthless for that
@@Jerry823Coates Infidelity for star pro athletes isn't about meanness. It's about male human weakness. It is rather hard to be monogamist when you have the hottest women imaginable throwing themselves at you everywhere you go. He certainly isn't the only pro sports star to do this.
Would you feel the same about your spouse if that had 4 kids out of your marriage?
@@lwmsoninfidelity is a certain evil bt way past that is having 4 kids outside of marriage. That takes a pure evil to rlly not care about embarrassing your spouse over and over
@@Jerry823Coates fr
In addition to couples counseling, financial counseling should be considered a vital prerequisite before entering into marriage, especially when you are an NBA athlete earning significant amounts of money. ESPN's 30 for 30 documentary "Broke" (2012) is ripe for an update, catering to the needs and interests of a new generation of viewers.
If a woman doesn't make at least half of what you make then there is no upside for a man to get married. Why marry someone just to reward them financially if they leave you.
That was a good doc an update would be interesting.
I HAVE A VERY VERY CLOSE FRIEND WHO PLAYED PROFESSIONALLY FOR 8 YEARS, HE TOLD ME ALL PLAYERS GO THROUGH A FINANCIAL SYMPOSIUM AND HAVE UNLIMITED FINANCIAL RESOURCES COUNSELING AVAILABLE, BUT MANY DON'T TAKE ADVANTAGE OF THE RESOURCES MADE AVAILABLE TO THEM
True but nobody ever thinks they're gonna go broke. If you would have told him his fifth year in the NBA, he would be in this situation. He would look at you like you were crazy.
@@mitchwhite3139 - Exactly. FACTS!!! In the NBA, it's called the "(NBPA) National Basketball Player's Association". The Player's Association provides financial literacy counseling & resources... FOR FREE.... ALL YEAR LONG. For all current AND former NBA Players.
If Joe was going broke, all he had to do was contact whoever was the current President of the NBA Players Association to get some help with his finances. NBA players are constantly reminded about this, all year long. Even during the off-season.
Joe Smith was drafted in 1995. The NBPA has been providing financial literacy symposiums during the week-long (RTP) Rookie Training Program, ever since 1985. They literally teach the players courses called "How To Avoid Going Broke". There is NO good excuse for not using what is available.. FOR FREE!! Any NBA player can attend. Not just Rookies.
Unfortunately, there are alot of players who completely ignore the RTP and the NBPA. And they usually end up being the very same names we hear about - who go completely broke - whenever their playing days are finished.
4 side babies? He can’t even be mad at that one
4 side babies of course his ex wife divorced him
he was up there by skyline high school in the oakland hills...in east oakland...thats wassup joe i remember when we drafted him after the chris webber stint..we was tryna get him and sprewell to ball out but that aint last long...then when antawn jamison came joe was now starting to be the Young OG...him larry hughes mugsy bogues i wanna say chris gatling i been a warrior fan my whole life growin up out here....Joe always was a respectable dude i wish my boy all the luck....he went thru the adversity i see him ballin out in this next phase.💯
He was the number one pick overall but not marketable. Joe never had his own shoe, his jersey never sold, never had big endorsements. You gotta set yourself up.
If you think 🤔 about it this guy is just receiving his karma
exactly. he is NOT the victim.
Karma isn’t real look around.
Ain’t no such thing as karma
@@SNOW_MAN_175 it may seem that way but there is an afterlife… Allah will be the judge on the Day Of Judgement… peace 👊🏽
@@SNOW_MAN_175karma is definitely real. You may not see it bt it hits everyone. Usually it attacks the mental
I feel sorry for Joe, he genuinely seems like a nice guy.
Nice = naïve
Seems like a sucker
after 4 kids OUTSIDE his marriage? i like joe too, seems cool but to be quite frank dude is a POS.
Women don’t like nice guys ….
@@SmooveTV718Not true.
"Shout out to Gary Payton; I've interviewed him as well ..." Good, Lord .... Glad.
I met Joe years ago he was real cool he was about to get drafted wasn't big headed at all .
This is a cautionary tale. You can make as much money, get to the top in your craft to watch it all fall apart because of choosing the wrong life partner. See this scenario time after time, basically a blue print of what to avoid.
Which one was the wrong life partner? they seemed perfect for each other.
I vowed to never put myself in a situation like that again. I'll just do a better job hiding it 😂😂😂
Exactly! 😂😂😂😂 Tough interview for him to speak on this.
Big up to vlad because he actually relate with joe on losing money it kinda made him feel opened
i assume joe meant SKYLINE HIGH in the oakland hills.
Shoutout Joe Smith fr god bless boss
Go Bucks! Praying for you Joe
This is sad 😥
Anyone that has millions and ends up broke is not very smart PERIOD 😂
So Elon…. Bill Gates…. Trump… Robert Stiller …Walt Disney ….Larry King ….Martha Stewart …Will Smith… Vlad tv …..etc etc all went broke …..millionaires are projected to go broke 3.5 times in there lives…. making mistakes doesn’t mean your not smart ……but if that’s the case you go look in the mirror then because you just made one….
Being smart seems to be 1 thing. But trying to Avoid temptation (Females💋) is another thing.
😂😂😢
It’s always people who never had it saying what people who did have it should have done
you should always keep savings you absolutely won't touch. but taxes never go away like property taxes so plan accordingly..
I’m glad he’s taking accountability not excuses
Doesn’t sound like a whole lot of accountability. Just sounds like kinda laughing and shrugging things off. He got y’all fooled. He didn’t even rlly address the fact he had 4 children outside of marriage
@@Shortballa11 he addressed it but not fully, he don’t need to deep dive into it. It is what it is
@@kennethemenike1597i mean his wife creating an OF is what it is. The whole interview is him acting like a victim and yall falling for it.
Ultimate trick
I remember Joe coming out of college like it was yesterday. Time flies!
I grew up in the area they're talking about. One of my close friends lived next to Gary. We'd sneak into his half court and swim in his pool since he was never home.
still in good spirits
Damn, Joe Smith needed to practice some abstinence back in the day. How much child support did he have to pay?
Numbers don’t add up-$61mm, $18mm after taxes? Needed a honest accountant and could’ve used Dave Ramsey in his life. Great interview. Thanks for sharing.
Sounds like some damn corrupt tax collectors out here....😂😂😂😂
He didn’t say 18 after taxes, y’all just be talking and don’t listen
Damn. Glad lived in Montclair neighborhood in Oakland? Nice job! That's a nice-ass area.
D discipline is a great financial decision
I bet Andre risen hates his o.b.j. phase of life. Mans looked wild in that surprise clip. Dye me up, perm me up, and mohawk me up
Gives me black gomer Pyle vibes. It’s amazing how success at a young age retards your growth into a adult. He sounds 17 years old.
He sounds reflective and isn't blaming anyone but himself. Your average 17 year old is not that mature.
Not sure what Vlad is talking about but if you bought a home in the Oakland hills (Montclair) 10 years ago for $500k it would now be worth almost $2 million.
Thats not really great if you think about it. 150k per year theres better investments out there
@joechucks1555 tell us another LOW RISK investment that would be better. Keeping in mind that you can buy a home with a 10-20% down payment
S&P 500 index fund.
He obviously didn’t hold the house till now
Really sad to see. He comes off like a nice guy who lost his way along the way. And I bet it hurts even more watching his wife crush him more while down and out. Get that she was out there before they met, knew who she was, but still would think after all those years there would be love for him to not do certain things publicly to hurt him further especially knowing it wasn't a few $ he lost but its everything he worked for. Had to have witnessed him broken and in despair after seeing all was gone and he had nothing left. Even if mad at him for whatever reason, would think there still should be some love there for him that would make her care enough to not add to it by putting him on blast like that. Still be mad if thats what she wanted to do, just not publicly, just not kick him more while already down. Just my take on it, wishing them the best nevertheless 🙏🏿❤️
He got 4 kids outside of his relationship/marriage. Stop the nice guy spill. Yes she's and he BOTH are moving wild right now.
He blew all his money on what's between her legs.
No it’s not sad to see he’s just another statistic he should have been smart enough to protect his money
Karmas a bitch man
Everyone comes off as a nice guy when the cameras are rolling.
He’s lived better than 99% of the people in the world so don’t feel bad. Nice guy though so wanna see him bounce back.
Vlad getting Joe Smith’s kids all mixed up 😂
You apologize for things you didn't mean to do. You say you are sorry when you meant to do it. You meant that ish.
I didn't know Slam Ball was still around.
You had 4 kids.... End of interview! Thank you for coming out. We love you. Good Night!
Should've held those properties til 2020, prices raised up
I feel like he's going to mess up regardless of the situation he's in. If he gets out of his current debt he'll mess it up at some point. same with his current GF or wife. He's just that guy who makes bad decisions in life and will continue to do it even after learning his lesson.
Of all cities, why Milwaukee? 🤔😳
Dude walked away from a big contract from golden state
Sounds like he blew his money. Spending and NEVER stopping..
Not sure who gave him that advice back then to go to Minnesota for crumbs while turning down almost $70 or so million guaranteed with the Warriors...
Joe been making back to back to back bad decisions and they've caught up to him unfortunately...
Vladtv had Robert Kiyoskai on here. One of the biggest lessons he teaches is how Taxes are your Biggest Expense.. its true, you can work self employed and do things to lower taxes as well as become a big business owner and investor to do this.. most people are blind to this and want more income
4 kids outside of marriage sounds crazy..Lucky he didn't end up On a episode of Snapped or First 48
Always go prenup when you rich and/or famous. Or just have a wedding with no paperwork.
He was understanding after four xtras😂😂😂😢
Vlad sounded so disappointed after saying 4 kids outside your marriage.
who did his accounting?
Its quite hard to feel sorry for someone who had that much money tbh
Most of us will never see 1m never mind 18
Exactly. And his pension is 200k a year, with 100% health care included.
Let's think about that for a min.. Maybe about 3% of all Americans earn 200k or more a year.
In addition, the cache of playing in the NBA for 16 years (only about 2% of NBA players have a career that long fyi) There are endless ways to monetize that (clinics, autograph signings, broadcasting, coaching, skills training, ect)
Why would folks here in the comment section feel sorry for him smh.. He made an insane amount of foolish decisions.
@@ousamaabdu794 he also ended up marrying a porn star lol. he is his own worst enemy and he's the type that will keep making bad decisions for himself. I remember when i was younger friends would see Joe Smith around Fells Point a lot by himself. at least he didn't support a posse like other NBA players i guess.
Not to mention to 4 kids outside of marriage
I think Joe Smith had been forgotten about until this thing happened. Is that good or bad for him?
Good. He been broke and now he getting some money
Good. He’s getting paid for the attention (interviews) he’s getting. Reality tv is next
Vlad is the Police!!! 👮♀️
Should have kept those suites and sold them later the real estate in Vegas is crazy now
Karma, Karma, Karma. Hate to see him going thru it Sincerely, but the same way he feels, his ex wife probably felt for years! Not the same but the energy you put out will always return. Own it, learn from it, & Get back to living. I’ve been there, praying for you brother! 🙏🏾
Crazy he’s laughing to cover the pain
Vlad keeps it real about real estate it's up and down😊
Everyone acts like it's always up & you automatically become a Millionaire 💰 off of it
Sheduer Sanders needs to listen to this frfr
Mr. Joe Smith, thanks for sharing some of your pitfalls. It should help a lot of people.
In general, if a man or woman, while married have a child with someone who is not their spouse, the marriage should definitely end. I would add if the two people are dating exclusive too.
Hopefully, Mr. Joe Smith and his current wife can work things out in their marriage.
$61million and only $18 was his to keep while lol I would at least put away %10 of the $18 million before I spent any of it
Long term every piece of land goes up. Might fluctuate over 10-15 years but over 30 it’s going up!!!
Very intelligent person, upbringing and association are a deadly combination.
I hope the young guys are watching this is tough to take.
A classic tale about a fool and his money
Facts!!
Well damn. I’m really this early. Damn you Killa 😂
Some ball players work hard to get the money and work even harder to lose the money. 🤦🏾♂️
61M nets you 30M give or take a few, but 18M?
cant say how many times i won the ncaa chip in coach k on the genesis with maryland. damn man
What i don't understand is. If you a Millionaire and want to date multiple women. Why get in a relationship? Stay single and move how you want to
Vlad can’t just interview people without talking about himself
He's livin' & learnin'. It's the Hardest lessons, especially in affairs of the heart, that you gain wisdom & learning about yourself. All men & women are NOT earth angels just because you fall in love with them. Life is filled with great pretenders. We've ALL had at least one😉
4 kids is a lot Joe
My uncle was a tax lawyer for famous people who were just launching their careers. He would make them purchase a house for 1-2m. And 35 years of property taxes. Then he would keep the title for the house in a safe for so many years.
After the intro I understand the way she move now . This just get back
Buddy was out here self sabotaging smh
That math ain’t mathing
Now he takes the girls phone and locks it up before they go to bed😂
Moral of the story
Never get married ‼️💯‼️
This dude seems like a cool dude.Its messed up what happend to him. Personally I would never marry if I had paper like this dude had.
What happened to him? O you mean the 4 kids he had outside of marriage. So are you gonna feel bad for your spouse when they cheat on you?
Id love to find out what houses Joe and Vlad brought and what year they sold. If they brought at the highest point and had to sale during the market crash it makes sense how they loss money on their homes but if not I'm still scratching my head to figure out how they took a lost 3 times selling a home, I don't think that's most people situation unless you brought a over valued home.
How do you make that much money and go broke??? Ill never understand it...
Made 61 Million and 18 Million after Tax ! . I do not understand how much is the Tax? And how is it calculated?
Maybe my math off a little bit but half of 61 is 30.5. I'm sure he wasn't in the 50% bracket. More like 37% and on the high end 40%. That's more 18 but anyone can go broke rather if it's a 100,000 or a 100 millions
18 from 61 million damn
Man look at how his current wife removed the shades and told the world his details !