Vince Young Released By Saskatchewan Roughriders

[Mac4Lyfe]

I am sorry to see that you got caught up in the IRS trap, but believe me, it is easy to beat. Just hire attorneys and accountants smarter than the IRS's attorneys and accountants and make a few well placed donations to various campaigns. That is the way the game works. There is no way around it.

We are 6 degrees separated from the entire world and nothing happens by accident. Wesley Snipes worked with me at Disney World many years ago. I was in their college program that would work holidays, summers, etc. We both worked in transportation. His sister dated one of my teammates on the Gator football team. I use to drive them to Orlando as all our parents lived there. I hadn't seen him for years until I bought my house in the Marina. He lived 2 blocks from me. His best friends wife was best friends with a girl I was dating and we reconnected. What a coincidence. The time I got in trouble, I didn't even know that he was not filing. come to find out, I learned about these tax protesters from the same circles he learned. But I never knew he was protesting.

Believe me, I went to several lawyers and they sounded just as corrupt as the protest folks. Every time, they took my money and wanted more to keep them on retainer. I finally decided that my freedom and piece of mind was worth much more than money. The IRS had already warned me that I could face 3 years in jail. Fukk that shit. I paid them, didn't even really negotiate much. Fukkin expensive lesson learned. They got me. Fukkers probably threw several parties at my expense. I was depressed for several years, didn't even want to come out of the house. Going from Ferrari's, Lambo, Mercedes to a fukkin pick up truck will do that. But eventually I got over it. well no, I'm still not over it.

10 years later what do you know? Wesley is doing 3 years for tax evasion. He listened to those protester folks and didn't want to pay the IRS. He then tried to screw with the IRS after they were trying to work with him (I don't know all the facts here, just hearsay). When they finally told him he was going to jail, he then got contrite and offered to pay the full amount. They declined. He owed less money than me. He was making $10 million a movie and tried to nickel and dime the IRS. He was really on top of the movie world and it all collapsed. He can never get those years back. His best friend fukked him out of a lot of money (people will do that when you're down).

I have no idea what donation campaigns you speak of. That was never an option for me. Once they seize your money and assets, there's not much you can beat. Through it all, there agents were all professional and polite but you're not going to game them.

[Mac4Lyfe]

Mac, who should play you in a movie?
No clue what you look like. I think we could make some of the money back with a Mac tell all movie. Low budget film, but will win awards.
Sucks that Vince blew everything. I thought he was a decent guy, talented, but just not high football IQ to run a team. Guess his IQ is minimal all around. I blew a lot of money, but I don't think I could fck up that much. Eh, I probably would or end up dead, so never mind. They would find me like Philip Seymour Hoffman.

Vin Diesel from Boiler Room is a pretty good perception. I was ghetto rich.

It is very easy to blow a lot of money. You just don't think about it especially if the money keeps coming in every month. I'm an engineer, I'm smart with math, numbers and finance but I didn't realize I was bleeding to death. Cars, houses, and woman are HUGE liabilities. You have a $60 million contract, you're set right? Your agent sees 10 - 15%, the IRS - 40%. You live in California another 13.3%. Your $60 million is really only $18 million right off the bat. But you don't realize that, your the 60 million dollar man, so you buy a $2 million dollar house and a Ferrari and a Mercedes (I bought 2 in one weekend once). The property taxes on the house is $80k a year, the golf membership is another $50k, the insurance on the cars are $5k a month $60k a year. You buy your mom a house, your girl a car and you pop bottles every weekend. You're spending half a million a year on non essentials. You are essentially broke already and that's just to rest your head and get to work. Add several woman in different cities and you are really fukked now. I was paying rent for 4 woman once. Not to mention their plane tickets, clothes, jewelry, etc. The shit adds up like you would not believe.

Thank God I didn't have a drug habit. I'd be dead today. I definitely was a degenerate gambler for several years hoping I could make up for my stupid losses by compiling more losses on the tables. I was able to cut cold turkey and I am very balanced money management today.

[Mac4Lyfe]

I bought a Ferrari in Miami and who was buying one the same day... Leroy Hoard who was playing for my Cleveland Browns. We hit it off while there. Later on the manager of the dealership shows me a W2 for Hoard that had more zeros than I've even seen before. I went back like that Monday or Tuesday to fill out some forms or something and the manager told me that I had just missed Hoard. He came back in that morning and bought another one. He bought both a black and red ferraris. I've seen so many athletes spend money like it's forever. Which is why I started mentoring/counseling some. They are most vulnerable because they don't have any deductions. Every dime is taxable in every state they play. Football is horrible because the contracts are not guaranteed and you'll never see the last year or 2 of any contract with them. I know too many horror stories just as bad as VY.

[Grits n' Gravy]

I bought a Ferrari in Miami and who was buying one the same day... Leroy Hoard who was playing for my Cleveland Browns. We hit it off while there. Later on the manager of the dealership shows me a W2 for Hoard that had more zeros than I've even seen before. I went back like that Monday or Tuesday to fill out some forms or something and the manager told me that I had just missed Hoard. He came back in that morning and bought another one. He bought both a black and red ferraris. I've seen so many athletes spend money like it's forever. Which is why I started mentoring/counseling some. They are most vulnerable because they don't have any deductions. Every dime is taxable in every state they play. Football is horrible because the contracts are not guaranteed and you'll never see the last year or 2 of any contract with them. I know too many horror stories just as bad as VY.

The saddest part is many of these guys get ripped off by their very own families. Legal system needs to hand out much harsher penalties to financial advisors, planners etc... who steal from their clients to finance their own lifestyles.

If you are ever in Vegas you would make a good speaker to some of the kids we work with. Virtually every Findlay Prep player has been through our program at some point. Understanding the value of a dollar and planning for the long term is what we have been focusing on a lot with the athletes

[reigle9]

Why do you say houses are a liability? You want real estate. Renting is for marks.

[Mac4Lyfe]

Why do you say houses are a liability? You want real estate. Renting is for marks.

Read the book... Rich Dad Poor Dad.

An asset is only something that puts money in your pocket. If you have a house that you rent out to tenants, then it’s an asset. If you have a house, paid for or not, that you live in, then it can’t be an asset. Instead of putting money in your pocket, it takes money out of your pocket. That is the simple definition of a liability.
Compound it with the type of house these athletes buy which make it an even bigger liability. Why? Because of the taxes and maintenance. Most of these guys cannot afford the taxes. They think they can but they really can't. A big mansion will drain you quicker than you can blink an eye. Like I mentioned the taxes on a $2 million dollar home will cost you about $80k a year. Not to mention the mortgage fees if you didn't buy the house out right. Then you have to pay maintenance fees, country club fees, security detail fees, Maid and upkeep fees, etc. You can't ever get that money back. Once you cut the check it is gone. $80k a year in taxes may not sound like a lot of money for a millionaire but that is a shit load of money over time. You are basically paying rent for a house that you already paid for. Stupid. And if you think it's a good idea to sit on the house hoping it will appreciate in value then you are gambling. Not wise.

Do you want to be the guy throwing away $80k a year or the guy that invests $80k a year? One guy has spent $2.4 million in 30 years while the other guy made $9.9 million in the same time frame with simple interest. Time is a friend to these guys but they have to let time work in their favor by saving money instead of spending it. I have talked to a lot of athletes. Very few get it until it's too late. I see a single guy buy a 5 bedroom house or buy his mom a house on his first contract and I already know he's going to be broke.

These guys need assets that can give them positive cash flow. Buying a duplex and renting it out is an asset. If it appreciates over time than that's even better but don't bank on it.

[El Nino]

Thanks for sharing your story, mac! Good stuff

[clockwise1965]

Didn't make quite that much, but should have made much more if I was smarter at the time... I marketed a telecom company that ended up being sold for over $4 billion dollars. Spent all of it chasing tail, bad investments and gambling. 1 year I spent over $4 million with nothing to show for it. I had money but nothing to do, so I did stupid shit while it was slowly disappearing. Was depressed for about 3 years and didn't even know it. I was in denial. Thought the money would never run out even while dumping $50k in Vegas or the Bahamas on a weekend. IRS clipped me for several million as well at my lowest point. Finally I had to get off my pity party and figure out what to do with my life. It took me years to get back in the game mentally.

Great story Mac. Thanks for sharing.. This is why i love the SBR forum.

[shadymcgrady]

Whoa mac, alot of stuff to digest. I liked the non serious Homer in the in game threads better, this stuff lacks a sense of humor

Damn, flipping real estate in 1990? I was flipping Michael Jordan cards in gRade school. Cle native? U know any ex tennis club pros from the area? That's all the cle native I know

Mac ur braver than most, willing to come out to the Brooklyn Bridge park and ball with the youngsters

[reigle9]

Read the book... Rich Dad Poor Dad.

An asset is only something that puts money in your pocket. If you have a house that you rent out to tenants, then it’s an asset. If you have a house, paid for or not, that you live in, then it can’t be an asset. Instead of putting money in your pocket, it takes money out of your pocket. That is the simple definition of a liability.
Compound it with the type of house these athletes buy which make it an even bigger liability. Why? Because of the taxes and maintenance. Most of these guys cannot afford the taxes. They think they can but they really can't. A big mansion will drain you quicker than you can blink an eye. Like I mentioned the taxes on a $2 million dollar home will cost you about $80k a year. Not to mention the mortgage fees if you didn't buy the house out right. Then you have to pay maintenance fees, country club fees, security detail fees, Maid and upkeep fees, etc. You can't ever get that money back. Once you cut the check it is gone. $80k a year in taxes may not sound like a lot of money for a millionaire but that is a shit load of money over time. You are basically paying rent for a house that you already paid for. Stupid. And if you think it's a good idea to sit on the house hoping it will appreciate in value then you are gambling. Not wise.

Do you want to be the guy throwing away $80k a year or the guy that invests $80k a year? One guy has spent $2.4 million in 30 years while the other guy made $9.9 million in the same time frame with simple interest. Time is a friend to these guys but they have to let time work in their favor by saving money instead of spending it. I have talked to a lot of athletes. Very few get it until it's too late. I see a single guy buy a 5 bedroom house or buy his mom a house on his first contract and I already know he's going to be broke.

These guys need assets that can give them positive cash flow. Buying a duplex and renting it out is an asset. If it appreciates over time than that's even better but don't bank on it.

I hate people that quote long posts but I'm on my phone.
I don't need a book, I figured it out for myself with life experience. You seem like a smart guy, outside of trump hate, so I'll read it

[reigle9]

I see what you're saying. Yeah I don't mean fancy houses to just sit on. Gotta do something with them.

Still crazy that I don't understand, if you have a 100 mil contact, you should be able to live in a 5 mill house and not care

[Mac4Lyfe]

I hate people that quote long posts but I'm on my phone.
I don't need a book, I figured it out for myself with life experience. You seem like a smart guy, outside of trump hate, so I'll read it

Hate is a strong word. I don't hate Trump nor any man. I didn't like him or Hillary running for office BUT once Trump won, I have been in FULL support of my president. I think he's doing a great job so far (putting $$ in my pocket). Although, I really don't think any president has a huge effect on my life. I appreciate all of our presidents for doing a job I damn sure would never do. I even liked Nixon.

and damn... all my posts are long these days.

[El Nino]

I see what you're saying. Yeah I don't mean fancy houses to just sit on. Gotta do something with them.

Still crazy that I don't understand, if you have a 100 mil contact, you should be able to live in a 5 mill house and not care

Watch the 30 for 30 "Broke." 100 mill contract is never 100 mill. Especially in the NFL. Nobody needs a 5 million dollar house...ever. Ricky Henderson framed a million dollar check and didn't cash it. The club's accountant had to call him to see why the check hadn't cleared. You are dealing with highly competitive 1% ers in the athletic department who, for the most part, are coming from disadvantaged backgrounds with little to no financial knowledge. The problem is they have enormous egos, so like mac said, they nod and say yeah, yeah when people try to school them. Then, when they do get taken by a hustler or a "financial adviser," they don't tell anyone. There is always the illusion that they have more money than they actually do. NFL players should rent an apartment/condo until they get a fat guaranteed contract. Most of that needs to be in the market and bonds so that they can live off the interest for the rest of their lives. As far as real estate goes, plenty of people got absolutely buried by the '08 crash. Hard to sit under water on a multi million dollar mansion with property taxes and all the costs of maintaining a home that you live at part time.

[Mac4Lyfe]

I see what you're saying. Yeah I don't mean fancy houses to just sit on. Gotta do something with them.
Still crazy that I don't understand, if you have a 100 mil contact, you should be able to live in a 5 mill house and not care

Very few of these guys will ever make anything close to $100 million but once you take out the taxes and fees your $100 million is automatically ~$26 million. The worst part is that because these guys are on W2's they can't itemize any of this money. If they had a business, they could at least deduct the cost of doing business. There is no cost to play football. So now you are living in a house that is 1/5 of your total worth... Not wise. Your property taxes in certain areas will cost you ~$200k A YEAR. Do you know what $200k a year annualized for 30 years is worth???? Close to $23 million. So the taxes on your house is going to cost you 5 times as much as the house cost and it is almost the same amount as your entire worth. Do not buy an expensive house. My neighbors house cost him more money in taxes than what his mortgage was 30 years ago... He already paid his house off many, many years ago but continues to fork money over out of his pocket. Once you stop making money, you will definitely start caring about everything that is taking your money.

The biggest fallacy is that everyone reminds you that you're making $100 million, you act, live, spend like you're making $100 million but most of that money is not your own. Family and friends come out of the wood works. Then to add, everyone of these guys thinks the money is going to come in forever. I'll blow this first contract money because I'll make it up on the 2nd. They do not believe that they will only work less than 4 years if you're in the NFL. Everyone of them thinks... "Not me".

I have pleaded with athletes. "Do not buy a car, do not buy a house until your 2nd contract. Live below your means until you can live off your interest." They don't listen. I didn't listen and I'm fairly educated. I think I have on video somewhere where I was shooting the shit with VY I think at a 7 on 7 where I said something like "always take care of your money else you will regret it". and he was like not me. I really need to look through my files. That would be a great warning shot to others.
I can't reiterate enough. An expensive house is a HUGE liability. You will never own it because the state/county will charge you rent. I didn't realize it until the money was running out and I got the huge bill. I've always paid my property taxes in 1 lump sum versus payments so I can make the interest and have use of my own money. Well when you get that big bill every year and you are struggling to pay for it. That house feels like a fukkin weight over your neck. Then if you're forced to sell it and you're in a down market... Damn.

[manny24]

Mack4Lyfer chilling with Vince Young handing out solid financial advice now??!?!???!????!!!!!!!!!!

we have let you slide with some of your past horseshit claims around here but get ahold of yourself

if you even reply with anything other than the "7 on 7" vid you can suck everyone in this threads' nuts at once

see how much weight that puts over your neck

leave the fantasies at your therapist we are not trying to hear any more out of your made up nonsense, skin unreal

[Mac4Lyfe]

Mack4Lyfer chilling with Vince Young handing out solid financial advice now??!?!???!????!!!!!!!!!!

we have let you slide with some of your past horseshit claims around here but get ahold of yourself

if you even reply with anything other than the "7 on 7" vid you can suck everyone in this threads' nuts at once

see how much weight that puts over your neck

leave the fantasies at your therapist we are not trying to hear any more out of your made up nonsense, skin unreal

Oh ye of little faith. First tell me what it is worth it to you for me to find it?

[teaserpleaser]

Mack4Lyfer chilling with Vince Young handing out solid financial advice now??!?!???!????!!!!!!!!!!

we have let you slide with some of your past horseshit claims around here but get ahold of yourself

if you even reply with anything other than the "7 on 7" vid you can suck everyone in this threads' nuts at once

see how much weight that puts over your neck

leave the fantasies at your therapist we are not trying to hear any more out of your made up nonsense, skin unreal

damn manny I take it you don't like mac...fukk man

[packerd_00]

Surprised Manny was the first to call mac out on this to be honest,saying he was pals with Wesley Snipes,come on man enough of the fairy tales.

[lonegambler23]

this guy needs to give up the dream

[The Giant]

Very few of these guys will ever make anything close to $100 million but once you take out the taxes and fees your $100 million is automatically ~$26 million. The worst part is that because these guys are on W2's they can't itemize any of this money. If they had a business, they could at least deduct the cost of doing business. There is no cost to play football. So now you are living in a house that is 1/5 of your total worth... Not wise. Your property taxes in certain areas will cost you ~$200k A YEAR. Do you know what $200k a year annualized for 30 years is worth???? Close to $23 million. So the taxes on your house is going to cost you 5 times as much as the house cost and it is almost the same amount as your entire worth. Do not buy an expensive house. My neighbors house cost him more money in taxes than what his mortgage was 30 years ago... He already paid his house off many, many years ago but continues to fork money over out of his pocket. Once you stop making money, you will definitely start caring about everything that is taking your money.

The biggest fallacy is that everyone reminds you that you're making $100 million, you act, live, spend like you're making $100 million but most of that money is not your own. Family and friends come out of the wood works. Then to add, everyone of these guys thinks the money is going to come in forever. I'll blow this first contract money because I'll make it up on the 2nd. They do not believe that they will only work less than 4 years if you're in the NFL. Everyone of them thinks... "Not me".

I have pleaded with athletes. "Do not buy a car, do not buy a house until your 2nd contract. Live below your means until you can live off your interest." They don't listen. I didn't listen and I'm fairly educated. I think I have on video somewhere where I was shooting the shit with VY I think at a 7 on 7 where I said something like "always take care of your money else you will regret it". and he was like not me. I really need to look through my files. That would be a great warning shot to others.
I can't reiterate enough. An expensive house is a HUGE liability. You will never own it because the state/county will charge you rent. I didn't realize it until the money was running out and I got the huge bill. I've always paid my property taxes in 1 lump sum versus payments so I can make the interest and have use of my own money. Well when you get that big bill every year and you are struggling to pay for it. That house feels like a fukkin weight over your neck. Then if you're forced to sell it and you're in a down market... Damn.

Mac, who are some of the big named athletes you have helped along the way? I remember you saying Michael Jordan would call you over whenever there was a big blackjack game. Did you ever give him advice?

[Mac4Lyfe]

Mac, who are some of the big named athletes you have helped along the way? I remember you saying Michael Jordan would call you over whenever there was a big blackjack game. Did you ever give him advice?

My dad was an accountant for a lot of professional athletes. I didn't have to wait for Jordan to call me over to a table. I could go on just about any table I wanted at most casinos. I was playing with Jordan in the high limit pit at Atlantis (when Kerzner first bought the place). He brought in extra dealers and security when they first opened. I leave for a moment and when I tried to go back to the table, security stopped me. I told him I was playing there and he was like "sure you were". He tries to punk me, "you know it's a $1,000 limit" or some shit. Jordan flags him and tells him that I was cool. So he vouched for me. I never meant to say Jordan would call me over whenever he saw me. We're not buddies nor friends. We've played on several occasions but Jordan doesn't talk much on the tables and I certainly wouldn't give a grown ass man advice that didn't ask. And if I did, I would charge them. Ironically, my uncle use to be a professional golfer and he's coached Jordan. Atlantis pissed me off starting that weekend so I started going to Crystal Palace until they shut down.

I coach young kids not professionals. I got involved with 7 on 7 in Houston and Texas years ago. It has blown up through the years. 1/3rd of the starting QB's in bowl games 2 years ago were from Texas. That is strictly because of 7 on 7. All the states are catching up today. I use to be involved in AAU too but don't have the time today. Football and track is about it for me. Track is the feeder pool for football.

[teaserpleaser]

Surprised Manny was the first to call mac out on this to be honest,saying he was pals with Wesley Snipes,come on man enough of the fairy tales.

wow I didn't know all that

not on here like I used to be

that's hilarious

[manny24]

damn manny I take it you don't like mac...fukk man

manny likes everyone Teaser you of all people know that but liars are not worth anyone's time

obvious PT storylines are one thing but Jordan's personal blackjack Coach here has taken up too much eyespace already

someone PM me when he posts the VY vid other than that peace

[Grits n' Gravy]

manny likes everyone Teaser you of all people know that but liars are not worth anyone's time

obvious PT storylines are one thing but Jordan's personal blackjack Coach here has taken up too much eyespace already

someone PM me when he posts the VY vid other than that peace

Wonder if he taught Mike his tipping skills?

[Mac4Lyfe]

manny likes everyone Teaser you of all people know that but liars are not worth anyone's time
obvious PT storylines are one thing but Jordan's personal blackjack Coach here has taken up too much eyespace already
someone PM me when he posts the VY vid other than that peace

and i'm openly challenging you in this thread to name what it is worth to you???

[Mac4Lyfe]

Oh ye of little faith. First tell me what it is worth it to you for me to find it?

Of course he won't respond...

[Jayvegas420]

Donk

[Grits n' Gravy]

Donk

Donk will say how he had sex with Vince and a cheesecake at the Cheesecake Factory and then he beat up the dishwasher.

[SBR Breadman]

Supposedly He's REALLY Broke

According to 'Celebrity Net Worth', He's 1,500,000.00 in the hole. (-1.5 Million Dollars). I think he invested into a few restaurants that went bust.

[Mac4Lyfe]

manny likes everyone Teaser you of all people know that but liars are not worth anyone's time
obvious PT storylines are one thing but Jordan's personal blackjack Coach here has taken up too much eyespace already
someone PM me when he posts the VY vid other than that peace

Bitch - you called me out. Now name your fukking price? and we all know you'll read this thread don't come up with some shit that you're only checking PMs.