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re: Average NBA player spends $42,500 a month
Posted on 10/24/16 at 8:04 pm to southernelite
Posted on 10/24/16 at 8:04 pm to southernelite
Well that makes sense.
Not gonna show up to some club in a Honda Accord.
But still it's Uber.
Imagine what athletes were spending before Uber with private car services and limos?
1
Posted on 10/24/16 at 8:04 pm to Bench McElroy
DAMN
Posted on 10/24/16 at 8:06 pm to mizzoubuckeyeiowa
they provide some entertainment ... what they do with their money is their business ... maybe they're fatalists ...
Posted on 10/24/16 at 8:07 pm to DupontsCircle
That's how much all 50 players spent in 4 months on Uber combined. It's really not that much.
Posted on 10/24/16 at 8:11 pm to tiger perry
quote:
No wonder most of them go bankrupt after 5 years out of the league.
Its NFL players that go bankrupt after 5 years. They don't make as much as the average MLB or NBA player.
If your making an NBA player's salary, $500,000 really isn't that much.
NBA Average= 5 million
MLB Average= 4 million
NHL Average= 2.5 million
NFL Average= 2 million
Posted on 10/24/16 at 8:12 pm to DupontsCircle
quote:. For 50 NBA players? Wow that's cheap!
know how this is possible. DC to Baton Rouge is $1600.
Posted on 10/24/16 at 8:16 pm to TheWalrus
quote:
That's how much all 50 players spent in 4 months on Uber combined. It's really not that much
Yeah
Misread that as yearly for one player.
Do it comes out $300 a day every day for a month for Uber for every player.
Granted they're not going out every night if the want to stay on the team so Uber is probably used very heavily for a few off nights.
This post was edited on 10/24/16 at 8:17 pm
Posted on 10/24/16 at 8:18 pm to mizzoubuckeyeiowa
they're also not paying for just themselves. a 10 person entourage will add up Uber, airline costs, etc
Posted on 10/24/16 at 8:28 pm to Bench McElroy
If they have 50 MM in a mutual fund, they are pulling low end 2-3 MM a year off of interest. 50k a month is peanuts.
Posted on 10/24/16 at 8:31 pm to AUCE05
I believe thats kind of the point of this whole topic. These guys arent investing money. If any money is getting 'invested', its from other people(entourage, friends, uncles)
Posted on 10/24/16 at 8:32 pm to Jones
quote:I bet a decent portion of long term nba players have financial advisors who invest money for them
These guys arent investing money
Posted on 10/24/16 at 8:32 pm to Jones
How do you know they don't invest ? The spending is ~10% of average salary. They could stick another 10% in investments
Posted on 10/24/16 at 8:34 pm to Jones
The data literally came from an investment firm.
Posted on 10/24/16 at 8:35 pm to LandonC
quote:
How do you know they don't invest
Starting their own record label doesn't count as an investment
Posted on 10/24/16 at 8:37 pm to LandonC
quote:
How do you know they don't invest ? The spending is ~10% of average salary. They could stick another 10% in investments
Im going to say I know this because more than half are bankrupt in less than 5 years after leaving the league.
They could stick 10% in investments, but they dont.
Posted on 10/24/16 at 8:37 pm to Bench McElroy
To be fair most of that 42,500 is in child support
Posted on 10/24/16 at 8:38 pm to AUCE05
I understand that. I am talking about the spending habits of these pro athletes and how so many go broke
Posted on 10/24/16 at 8:39 pm to Bench McElroy
Multimillionaires with little to no discipline, and leaches hanging off of them. This really isn't a surprise, is it?
Posted on 10/24/16 at 8:40 pm to Bench McElroy
quote:The $42k/month figure seems irrelevant if we don't know the average salary of the 50 who signed up.
According to the San Francisco Chronicle, more than 50 players signed up for the service
Also, that amount could be a drop in the bucket compare to their monthly salaries when you include contracts+endorsements.
Nothing really to see here.
Posted on 10/24/16 at 8:43 pm to Jones
How many of those who go bankrupt played on a 10 day contract or for one year or a short time. I'd love to see the bankruptcy rate for guys with multiple years in the league
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