is iverson dead broke

[battle4life]

is it to late for him to get signed and play anywhere


how do u spend 150 mill


COME ON MAN

[PAULYPOKER]

Easy, he is a degenerate gambler like yourself.................

[oiler]

and that surprises u why?

[TobiasFunke]

His whole time in Philly he was always Rollin with this entourage of about 5 or 6 of his deadbeat loser friends who he supported financially. He bought them homes, cars, etc. it's pathetic lol

[ngates815]

warrior you got 12 sbr points, do you feel rich?

Is that the most money you have ever had?

[crustyme]

battle4cans

[Swinging Johnson]

Iverson is broke? Welcome to SBR Allen.

[HotStreak]

You act like spending 150 million is impossible. These guys can spend it on child support alone.

[Hawkeye2011]

If he had any habits even close to yours that 150 mil could be spent in about 2 years

[Sport_Fish]

Spending money is the easiest thing in this world.

[Filmoz]

150 million gone, damn....

You know the feeling when you are up a lot at the casino, then you go into degen mode and lose it all back, and you walk away with that depressing nagging thought that keeps running through your head like "I can't believe it. I was up 5k and lost it all. If I just would have walked I'd be up 5k right now....dammit"

Imagine that but with 150 million. Dude could be enjoying retirement right now rich as fukk, instead he's broke and dodging creditors.

[STAY STRONG]

talk about poor money management!

[freelife1]

I feel bad for him, will he get signed agian? At least his homes cars etc are all paid off...RIGHT??

[ChiLLx]

The guy is a clueless thug, not really surprising.

[byronbb]

What a retard. I mean you take $1m a year and bury it in bonds or gold. C'MON MAN!!

[Monter]

Bottles and Models

/end thread

[jjgold]

gambling hold no barriers

[BernardMadoff]

Nah, all he's needs to do is pick a couple winners and he'll be on top.

[tblues2005]

I think that has been poor money management without a doubt!!

[DemoralizdDreamr]

http://www.freep.com/article/20120214/SPORTS03/120214041/allen-iverson-broke-bankrupt-jewelry-assets

[katstale]

He can check in with Latrell and see what's shakin down at McD's. I wonder if he would love to go to practice tomorrow..... nahhh, guys like this never get it.

[PAULYPOKER]

I seen him get buried at the Taj Mahal in Atlantic City plenty of times, Iverson has serious gambling issues.........

[will2survive]

Iverson is a warrior, he'll latch on to an international or Puerto Rican team

[H1Cypher]

My question is: He didn't spend a dime of that money on you. So why do you give a ****?

[C-Gold]

His whole time in Philly he was always Rollin with this entourage of about 5 or 6 of his deadbeat loser friends who he supported financially. He bought them homes, cars, etc. it's pathetic lol

5 or 6 deadbeat friends? Iverson would roll DEEEP. 10 to 30 guys. He used to bring his own security team to the clubs too.

[HOWARDhasMYdough]

Pretty sad to make 150m and have nothing left. How does this even happen.

[D3 Mighty Ducks]

150 million gone, damn....

You know the feeling when you are up a lot at the casino, then you go into degen mode and lose it all back, and you walk away with that depressing nagging thought that keeps running through your head like "I can't believe it. I was up 5k and lost it all. If I just would have walked I'd be up 5k right now....dammit"

Imagine that but with 150 million. Dude could be enjoying retirement right now rich as fukk, instead he's broke and dodging creditors.

This

[C-Gold]

Pretty sad to make 150m and have nothing left. How does this even happen.

He's from the Virginia tide water area. Same area as Michael Vick who also blew away 100 million dollars. Have you ever seen the list of all the crap he bought? Just looking at that list alone no serious GM should ever make him the leader of their franchise (or give him another 100 mil). Vick is about as dumb as they come.

[Mac4Lyfe]

Pretty sad to make 150m and have nothing left. How does this even happen.

I spent over $5m in 3 years before. It's not that hard at all. When your making a lot of money, you don't think about the day it will all end. Your caught up in the moment and your thinking in future value but your expenses are present value. For example, my expenses were $60k a month and I was bringing in about $150k/month. Not bad for a business that your trying to expand. But your federal tax liability is 35% ($52k/mo), California state tax is 10.3% ($15.5k) and depending on where you live your going to have property taxes. You don't park a Ferrari in the ghetto, nor in an apartment complex. Add $2k - $3k/mo in property taxes. How about car insurance, monthly payments. That's another $2/3K per month.

So $60k in expenses and another $73.5k in taxes/ normal living which leaves you with about $16k/month to spend. Now that sounds like a lot but not when your the man. Not when your popping bottles and paying to flying woman first class, traveling all over the world, going out on the weekends. For most people going to a club is pretty cheap, for most of these guys it's a thousand dollar evening easily. How about child support, how about putting up a few woman in different cities. One woman alone will cost you $5k - $10k/month.

Bottom line, it cost money to be a baller. The best advice is to reduce your expenses and ditch most of the groupie/gold digging woman. Most guys get caught off guard by the taxes. Nothing like getting a few million dollars tax bill in the mail. Especially when you already spent most of the money. Iverson might have made $150 million but he never saw half of it. Well how did he spend $75 million? By thinking he had $150 million in the first place. Most sports contracts are an illusion. Most of these guys will never see what's on the paper.

[TrailerParkBoy]

I guess he didn't practice saving money either.