>Ex-NFL star Clinton Portis 'wanted to murder his financial advisors who swindled the vast majority of the $43million he earned throughout his career' >Clinton Portis wanted to kill one of his financial advisors in Washington D.C. in 2013 after he blamed them for losing millions of his dollars >The 35-year-old had made $43.1 million during his nine-year NFL career >Portis lived a lavish lifestyle with multiple properties and cars to his name >He also bought his mother a $1 million purple mansion in Florida >Portis filed multiple lawsuits against his financial adviser Jeff Rubin and his associates between 2011-2013 claiming they swindled his money >His financial plight surfaced in 2015 when he filed for bankruptcy after falling almost $5 million into debt >Portis now lives modestly in a two-bedroom apartment in Virginia and works on the TV broadcasts for the Redskins preseason games
>He filed multiple lawsuits against his financial adviser Jeff Rubin (right) and his associates between 2011-2013
Caleb Garcia
Is this a surprise in any way?
Julian Myers
what the fuck is wrong with this dude's neck
Owen Reed
>Jeff Rubin
kek
Noah Cooper
thicc necks get the qts
Mason Bell
Heeb'd
Kayden Clark
Ex-NFL players have an astronomically high rate of filing for bankruptcy. So few understand how to manage their money. They start earning literally millions a year and they start spending money like they will always earn millions a year. But even the lucky ones, like Mr. Portis will usually not reach even 10 years in the league. The dumb thing is if this guy had not spent all his money and had a portfolio value of about $40 million he could have lived a lifestyle where he spent $1.6 million for the rest of his life and also have always had his $40 million which would have grown with inflation still to give to whomever when he died.
Landon Collins
Think if he just put 40 million (keep 3 pay off debts and have fun) in a nice Index Fund that tracks the S&P 500 @ 80%, and 20% in a NASDAQ index.
Even if he drew just 1% every year, that's 400,000 a year, and you're still making shittons of money. Just letting money work for you.
My accountant is a non-Jew and I wouldn't have it any other way
Liam Rivera
It's amazing how the nfl has created more black millionaires than any other organization and they still all go bankrupt.
Zachary Gomez
>tfw you can't tell if nigs gonna nig or Jews gonna Jew
I guess in this case it's both
Jordan Lopez
>niggers thinking about the future these kikes are aware of how dumb niggers are, they will always swindle them
Zachary Edwards
Mo shekels!
Caleb Hill
>niggers >good at managing money
Easton Wright
It is just people who have no idea how to manage money. Happens to lots of lottery winners as well. Black, White, Hispanic whatever. It is just people who have no idea how to manage money. This is the biggest advantage people get from 'educated' parents. Not some huge benefit in earning potential but rather they will manage their money well. When my parents pass I will likely inherit multiple millions of dollars from them, because they knew how to manage their money, and their parents knew how to manage their money. i.e. save what you can, invest it in good investment vehicles and don't spend your money at inappropriate rates.
Wyatt Hill
Also taxes take half and 20m the way he's spending it will fly by
Noah Gonzalez
>these kikes are aware of how dumb niggers are, they will always swindle them I have smart friends of my own who willingly pay 1.5% to a financial advisor to manage their money for them.
Eli Cook
Why do people pay (((financial advisors))) when index funds exist? What a scam
Because its complicated! It involves maths and numbers
Cameron Hall
Bill hired him and now he makes videos for Bill's official channel I believe.
Hudson Wright
They never learned the basics of finance. Look at it this way. Annualized total stock market return over a long period tends to be about 10% per year. If you pay a financial advisor you are going to get 8.5% per year maybe even less because some charge 2% or even 2.5%. But just assuming 1.5% and a 30 year time period for the first investment you are looking at a 11.5 fold increase in your first years investment over that time period for advisor (1.085^30 = 11.5) and with no advisor you are looking at a 17.5 fold increase in your first years investment (1.10^30 = 17.5) That is roughly 50% more by figuring out how to invest on your own. Then when you are in retirement it gets even worse because you can only spend a fraction of your total portfolio value each year without eating into principal and so that principal will grow with inflation. That number is about 4% with no adivsor and 2.5% with an advisor who charges 1.5% per annum.that is a 60% increase in how much you can spend each year in retirement if you don't have an advisor versus if you pay for one. Now if you take into account the extra money you have saved up because you don't have an advisor which is about 50% more over your work history, then you can spend 2.4 times as much as the person you used an advsior the whole time. (1.6 x 1.5 = 2.4) Then when you take into account this happening over multiple generations in a family because proper financial knowledge is passed down from generation to generation, along with accumulated wealth, then you will see certain families pulling away from others. All because some know how to handle money and others don't. And all of this in no way relies upon differences in actual earned income. This assumes people earn the same amount each year, even though if your family is wealthier children will typically have better opportunities to earn even more.,
Ayden Campbell
>invest on your own
I invest on my own and just put ~60% on company bonds 30% in index funds and 10% liquid assets. Is this a smart strategy? I have read some studies that picking stocks isn't worth it in the long run.
David Howard
>I have read some studies that picking stocks isn't worth it in the long run. This is correct. The rule of thumb I constantly hear repeated is never have more than 4% of your portfolio tied up into one stock. If you want to try to risk a larger return by investing in individual company stock, or maybe you want to buy dividend stocks it is ok I guess but never have too much in one stock. What is generally good advice though is the closer you get to retirement the more you shift your portfolio to bonds and fixed income securites. With a usual endpoint of in retirement you have 50% stocks and 50% fixed income.
I think you are smart to keep liquid cash on hand because if you see a buying opportunity like market takes unexpected tumble or whatever, you need cash to be able to act on it.
Joseph Martin
>Rubin
oy vey shut this antisemitic hate thread down NOW goyim
Jaxson Bennett
>rookies have to go through weeks course of money management >free lessons >free chaffours >free housing >blowing through over 40 million >it's somehow the NFLs fault I wish every nigger like this killed themselves
