Joe Smith on Only Having $3K After Making $61M in the NBA (Part 16)

[@dominix3000]

I hope people don’t clown this guy. He’s a good hearted guy who made some mistakes. Best of luck Joe if you ever read this.

[@Chicago48]

He should be getting a pension; if not, why not?

[@leesmith813]

​@@Chicago48I was wondering that too. Retired NBA players used to be eligible for the NBA pension as soon as they turned 45 years old. Joe is almost 50...something doesn't seem right.

[@silewis9396]

​@@Chicago48He literally just said it hasn't kicked in yet so obviously he will be

[@ig6894]

Too many mistakes, why do these ex-players take their foolishness to the public. If you make $61 million, and blow it all it's your problem.

[@mondayajabor8445]

He should be called out, he F Up , he’s a clown so people can learn from his mistake’s. I don’t have sympathy for him and others.

[@emman141]

Everyone’s a financial expert. When they never made 60ms. Shout out to him it’s very brave of him to openly talk about this

[@shannonballspen1s482]

Right. When ur a younger and all you know is ball and everyone around you is blowing bags on chains and whips, what do you expect.

[@parlowgems]

My thoughts as well! 😂

[@manoftomorrow5987]

It was tougher back then to blow it up...but if someone blew 61mil today with all the knowledge available to them today they must be smoking that crack!!

[@Enveonline]

It’s not about being a financial expert. If you make one right decision with that money you are straight for generations. After taxes if he just took 500K - 1 million and put it in a CD account he would be straight right now. Even if he blew the rest of the money.

[@chriszugu8422]

Average worker makes 50k years in 50yrs tears 2.5 million. There is no excuse for these guys to be broke after making so much money

[@Maine_87]

I don't understand how these dudes don't buy 50 unit apartments and big complexes while they're playing and making the big money. I would own so much big sht if I made money like them.

[@enniso7452]

Get the money then show us then

[@cannabismediacollective]

I’m guessing the folks in his circle were liabilities and not assets 👁️

[@crimetruth376]

Antoine Walker went into real estate and still blew threw everything.

[@Seriously5505]

Bruhhh if you aren’t part of a conglomerate building wealth is actually difficult. If you were once poor, then you come into money, that doesn’t mean you’ll grow that into more money. 9/10 people you have in your circle are broke and just went hand outs. The new people you come around that have money are looking to extract as much money from you as they can and not help you make more. The best thing to do is just invest in bonds or a let your millions compound interest but these dudes want to flash.

[@gwaapgutta8553]

EXAAAAAAACTLY 🙏🏿🙏🏿🙏🏿🙏🏿🙏🏿🙏🏿🙏🏿❗❗❗

[@giftoflife365]

This brother, Joe Smith, is blessed with a good-hearted demeanor at his core. Unfortunately, being duped out of not-knowing/uninformed, giving in to desires/falling for honey traps, and being surrounded by non-generous, vulture-like company, has indeed made life more turbulent, stagnent and regressive to varying degrees, however it's only too late when the gift of air is depleted. Really hope & pray he can pull through better than he could've imagined, during this 2nd wind of life.

[@maxbigavelli88]

That was poetic and inspirational 👌🏿💪🏿

[@UTP504]

Yeah you can tell he’s good hearted, he’s too nice and just made a lot of poor decisions. Hopefully he can bounce back, he’ll be getting a yearly six figure NBA pension soon, so that’ll help for sure.

[@se_me1756]

Best comment. 🤎

[@daytonjohn777]

Joe Smith is a good dude

[@KingKong-ee8hc]

Nice guys finish last my boy

[@realtalk6720]

​@@KingKong-ee8hcnah, that a facade guy with no boundaries finish last. Nice guys finish first

[@flyguy7825]

Ok and?!

[@HypnoticHollywood]

@@realtalk6720 When you experience life more you'll learn that women and nobody else respects nice guys.

[@kennethjames237]

Unfortunately not a very smart dude though

[@andrewbeasleyjr5925]

I met Joe Smith as a kid when he was that dude in college, and he is a really good dude. Depression is real and I hope he is able to bounce back 🙏🏿

[@ogtre746]

This man had every opportunity. Don’t nobody feel sorry for a MF that squandered millions of dollars GTFOH!

[@fritzdeuces]

Depression ain't real but keep playing urself.

[@andrewbeasleyjr5925]

@ziwer1 You wouldn't be real either if your father had a choice.

[@getschwifty9531]

​@@fritzdeucesyour ignorance is real and it's sad.

[@Raquib25]

University of MD ✊🏿

[@davidlipkins3226]

Its hard for me to feel sorry for a person that made $61 million dollars. I’m sorry, that is a hell of a head start. Even if he netted $30 million after taxes, that is still a break the average person will never have…….

[@claudejackson1555]

There are a whole lot of Joe Smith's out here remember grand mama Larry Johnson 7 kids 5 different women or better yet Shawn Kemp 91 million dollars 11 kids from 9 different women and can't pay child support, but I do believe the system is unfair to someone who has made money they should pay more, but don't be ridiculous about about it they shouldn't be punished because they made some money.

[@brotherLee340]

Yea..plus he still got to live that rich life for years.

[@flyguy7825]

​@@claudejackson1555No, the system is not unfair. People have to realize with that many kids it's expensive to take care of hell is expensive to take care of one kid. Try having 11 that s*** is ridiculous having that many kids outside of a marriage. Not to mention when your NBA career is over and that income stops. What else are you going to do? What else are you going to do to make money? Because if you are living a very lavish lifestyle, that money is going to run out sooner rather than later. That's what a lot of these players don't understand. Once you get the bag you always have to protect it

[@claudejackson1555]

@@flyguy7825 I don't disagree with you for the most part, but even if you have just one child you can find yourself paying 50,000 per week to care for that child just because your income is higher no child needs that much money especially when there is no accountability for how the money is spent, and yes these guys cause a lot of the problems that they have, but they are also taken advantage of in regards to their investments, but they have to do better by themselves learn from athletes before them this game ain't new.

[@andremiller1566]

​@@claudejackson1555You shouldn't have to pay more. Your child isn't more expensive than anyone else's. Child support should be capped at 1k per child.

[@chillyblack3]

Early learning of financial literacy is a must no matter what

[@flyguy7825]

Facts preach that good word

[@dominicomaxwell4513]

They have financial advisors in the NBA. Some of them choose not to listen.

[@JohnnyDunn]

Salute to you Joe for never giving up🙏🏼

[@kennethhenders]

The NBA doesn’t need to force grown men to learn how to keep their money. As a man it is your responsibility to do that.

[@1youarewrong]

Damn right if I gotta learn then you have to as well

[@cipriandobrea7369]

You don't need help managing that Chipotle check.

[@timothymorgan2150]

No sympathy for him

[@kennethhenders]

@@cipriandobrea7369 Damn, that’s funny 😄

[@braffsportsja2949]

A lot of the NFL&NBA High intensity athletes are lifelong athletes committed to that. no room for education like Soccer, Hockey, Tennis, Track, Baseball

[@Wes_3]

Most Americans don't even have 3k. So when you say "I was in a deep deep deep depression" Imagine the majority of Americans walking around in that state of mind.

[@gilgonzalez5902]

This is crazy to me, my wife and i make under 100k a year which is very little money for where i live (NJ). We figured soon we wont be able to afford rent because it was sky rocketing so we saved up 30k to put a downpayment on a multi family house. 5 years later we refinanced and now our tenants that make WAY more money than us pay our mortgage in full and we live for free excluding utilities. We will soon roll the equity into another multi unit property, man if i had a million dollars cash id be rich for LIFE with these tactics.

[@ogbc100]

Having a partner in those transactions is a great thing 🤘🏾

[@flyguy7825]

Well, a lot of it is lifestyle. A lot of it is where you live, especially in New Jersey. There are all sorts of factors that affect people's income and money. Imagine being an NBA player and you're making seven to eight figures easily. You want to live in the nicest places, get the nicest things and all that and all that is fine. But what are you doing after your career will be over? Because eventually it will end the all-time greats have always been smart enough to protect the bag

[@hostileaks4495]

Sounds great bud, hopefully you got a good women. Because if not, you're going to sell that home and give her half the money and after all the lawyers you won't have a dime left.

[@georgereginald6084]

Dropping real jewels

[@reaper10142]

@@hostileaks4495 they both put money in the home clown

[@Slay_Vendetta]

Imagine how much 61 millions was back in 2005 with regular houses at 125,000$! Thats like having 150-175 millions in todays money. Crazy

[@cipriandobrea7369]

No it's not.

[@podfather6448]

It’s roughly $100 Million with inflation in comparison to todays money. You have to also remember he didn’t receive $61 at one time. Throughout his 16 years that breaks down to roughly $3.8 Mil/year. This is before taxes, agent fees, etc. Down to $1.5 Mil or so. This is before on going expenses, helping family members, etc. Not saying you can’t grow and live comfortably after but it’s very easy to blow when you aren’t financially literate.

[@flyguy7825]

When you don't protect your money you go broke

[@Syhbw]

$61m really $30m after tax and agent commission.

[@yimmythegreek1]

Not quite bruh, in 2005 housing was up big time. They were actually overpriced, pretty much the same price that houses are today.

[@markwalker5543]

I can imagine, millions to 3k, I would be more than depressed, I hope this man get back on track.

[@flyguy7825]

his woman try to with him but he got into his feeling about what others thought

[@1stnamebr406]

It's no excuse for losing money. That money can get deposited to a bank that hold large amount of money and all you need to live on is 15 to 20k a month as a rich person.

[@martinmorales4645]

Much respect to you Joe for never giving up and thank you for the all years of entertaining us on the basketball court. Stay blessed!

[@andredyton8648]

I don’t know this man but I can surmise that he is a good honest dude. Life throws you all types of curve balls but this man deserves a break wishing him the best

[@1990758]

So your assumption is this interview.

[@lwmson]

When I hear stories like this, it makes me respect LeBron James all the more. Say what you want about LBJ, but he was smart enough not to marry a trophy wife and have numerous extra-marital affairs like Smith. Instead, he chose to marry his high school sweetheart, a woman who liked him before the NBA wealth and fame and is monogamist. Unlike Joe, he never had to fork out tons of money on alimony and child support payments and maybe that's why he is now the only active NBA player who's a billionaire.

[@GG-fi5jw]

You're pretty naive if you don't think James has had side chicks.

[@lwmson]

@@GG-fi5jw The proof is in the pudding. Where are the babies?

[@johnnystlouis8081]

​@lwmson having side chicks doesn't always equal babies

[@flyguy7825]

​@@GG-fi5jwWell since you don't know the man personally and you're not in his bedroom and no one with any type of validity has ever came out and said that he ever cheated on his wife. I'm willing to believe the dude is fateful. Believe it or not they are fateful dudes out there

[@flyguy7825]

​@@johnnystlouis8081True. But like the other guy said where is your proof? Just because there's a percentage of athletes that do it doesn't mean everybody is doing that. Believe it or not, somebody love their situation at home and can't wait to get back to that situation at home

[@faustjoe]

Think about this....To open a McDonald's franchise, however, requires a total investment of $1-$2.2 million, with liquid capital available of $750,000. The franchise fee is $45,000.. The cost to open the franchise is a couple game checks, why not take a few have checks and open a franchise, car wash or a laundry mat.

[@TheOpinionSports]

You can start an insurance business for a lot less and make a lot more than a franchise but the franchise is easier to sell cause kids love McDonald’s.

[@nikivory6891]

A lot of these professional athletes were in their very early 20s and coming from a family with nothing. That would mean the people in their family that they would possibly listen to for guidance also have no idea of how to manage that kind of money at such a young age. It's not that surprising to see a lot of them mismanage the huge profits they made in such a short amount of time. I couldn't imagine going broke after making millions before the age of 30 either, so I understand what you're saying. But to put it into context, I also remember the way I was partying and giving out money to people I cared about when I was in my early 20s. Everyone is different and it takes a different amount of time for people to develop and mature. It just so happens that professional athletes are in the public eye to see their mistakes but they are going through the same developmental stages that we all have to go through.

[@1990758]

Because having five cars and three houses is more important.

[@chriszugu8422]

​@@nikivory6891no excuses. Countless athletes n celebrities made his mistakes before him. We all heard the stories. Only a fool learn from their own mistakes

[@nikivory6891]

@@chriszugu8422 I didn't make an excuse. I said I'm not surprised to see a lot of them mismanage their money. Your inability to comprehend is also no excuse for being ignorant enough to believe everyone follow random celebrities and athletes for their guidance.

[@shauncejohnson563]

Nobody’s responsible for you but you. It’s nobody’s fault when we fail. Wish you the best my brother 💯

[@TheGurupatpat]

Man shut the fuck up. That backhand comment. You are beyond ignorant.

[@samrich1519]

That’s not always the case … sounds good though

[@ctrl-shift-run8681]

Best of luck, Joe. He sounds like a good, level-headed dude who has learnt a lot through life. On that note, I think there's value in offering a financial service to athletes that guarantees tracking the performance of the S&P 500 - 0.1% for fees / management. Most of the management being telling them that they cannot withdraw or it would void the contract or put a 5% penalty on AUM.

[@MurdaStreams]

That is big of him to try to shed light on his situation.

[@MG-ge5ii]

Bro I’m sorry you have ZERO excuse going broke if you make over $10M in a decade. All you literally have to do is save 20% and your retired.

[@cameronpalmer401]

It sucks that people took advantage of Joe, he seems like a cool and chill dude.

[@lwmson]

He allowed this to happen and actually brought his financial downfall on himself. If he had to engage in extra marital affairs, he should have used a condom.

[@zabariduwab9950]

I was just thinking this

[@AndrewQuiroz24]

Don't judge a book by its cover.

[@nosellout5480]

He seems stupid.

[@1990758]

Took advantage or he let them take advantage.

[@jonessmith9478]

I dunno if it’s just me. But reading facial expressions and the way people behave you can tell if they are genuinely good people. This guy just gives me the vibe he’s a good guy.

[@drickjones519]

I only see a good dude. Shit hurt seeing him get disrespected by a woman who he cherish smh

[@flight4twenty3]

@@drickjones519simps get no sympathy

[@jomarcoliverman4971]

This is karma for cheating on his wife and having all them kids behind her back. It’s one thing to cheat but getting them pregnant that’s crazy bro.

[@shephusted2714]

he should get into small time coaching and community service - he will have plenty of opps and it is not all about money too - as an ex nba star he has carte blanche to all kinds of opportunities but he needs to find one that is a good fit

[@raphaellall6270]

Exactly! I was thinking the same. He's an ex NBA player. There will be tons of jobs to coach high school kids and even older players. He can even write a book on his case and earn money, Maybe make a movie about it. I doubt he'll make $61 million again! But there are opportunities to earn a decent living until he dies...

[@Mr_Banker222]

It's life man, I lost 30k one year and it bothered me a lot.. money comes and goes. Live your truth and always live your life!!!

[@BRIANDER100]

how did you lose it ?

[@shaddylaron5887]

Financially irresponsible because he you ain’t pay no bills, pay any debts off, invest wth did you do ?

[@dreg5845]

Sounds stupid. 30k isn't 60m

[@keithen8708]

​@@BRIANDER100smoking crack

[@flyguy7825]

That's true but if you have kids and you have families you can't have that kind of nonchalant attitude towards it. Don't you want to leave something behind for your family? That's the problem y'all don't seem to get. Y'all are so gun hoe about money and then once y'all broke y'all realize just how much y'all lost and could use right now

[@getschwifty9531]

Praying for you, Joe. It takes guts to be open about what you're sharing and you didn't deserve what happened to you.

[@Dad-in-WA]

Sad to see so many athletes making lots of money and now gone! very unfortunate. Appreciate Joe Smith on being transparent on his finances. Hope it all works out for him and his future. He still has his 2nd half of life to make big things happen.

[@brasinovic]

It’s his fault who gives a fruck

[@KG-mx5ti]

@@brasinovicsmh it’s still Fucced up

[@enniso7452]

@@brasinovicloser

[@flyguy7825]

He is being transparent but he's also passing the buck to a degree the reason he's broke is because he made very stupid and poor financial decisions along with making very bad personal decisions in his marriage in the females that he deals with a lot of these athletes do that and get caught up and don't know how to keep the money a coming. It's not about earning the bag. It's about always keeping the bag coming in. That's what the smartest people have always told me who are well off and not broke. It's not about getting the bag. It's about keeping it once you get money. How do you keep it from coming in?

[@playmaker2121]

Being dumb!! But why is it only the black athletes??

[@JustJefferson]

Used to kill it with Joe Smith in CoachK college basketball on Sega! Busting back boards! MD, UCLA and UNLV were nice in that game.

[@mk1-ij3h]

Financial literacy has only become mainstream (online) in our current generation. I remember just 10 years ago, you only really knew how to handle money if you were seeking the knowledge or had people around you to teach you. Today it’s thrown in our face all the time

[@fritzdeuces]

Nope! Rich people have always had access to those services. People like one hit wonder chamillionaire kept good company.

[@mackjewell8990]

Absolutely tragic DAMN JOE 🤦🏾‍♂️ you go bounce back big dog💪🏾

[@qobo5socikwa666]

You know I respect Joe for being so straightforward every person goes through shit ! Keeping your mental and living is so important easy for people to judge

[@Knowledge7D]

I don’t feel sorry for him, he spent his money and choose the women he dealt with this is the consequences of his actions

[@michaelmcdonald1552]

I agree... I don't feel sorry at all.. dude blew huge money! These guys get every class to teach them to not do what he did and he still blew the money

[@1983jcheat]

What people don't understand is that someone who makes Millions owes the IRS like 40% of their pay. Now pay your: agent, lawyer, driver, body guard, stylist, family, friends and your house/car. That money will be gone by 40 if you don't cut down on expenses.

[@ovo_tp9934]

This is beyond sad bruh this y i be telling folks just get a dog cuz dog gone be u whether u got 60mill or 60cent they never gone fold

[@rudytroncoso3755]

This guy wearing a hoodie with (2) L’s! You can’t make this up!😂

[@ztaylorm262]

NBA players association needs to make it mandatory that 10-20% of your contract has to be placed into a IRA/401k/certificate something! And you can’t withdrawal the money until you’re 45 or if you retire before that you get a certain amount each month based on how much is in the account so it’ll last 25 years or something. They gotta do something for the players cuz they all aren’t financially responsible. Hate to see people make millions then go broke that has to be the worst feeling 😔

[@wmmitchell3494]

NBA is a corporation and the players are the modern day slavery.Most basketball players are not financially savvy or financial literate.Compund interest is the ninth wonder of the world.

[@oscardagrouch5095]

Imagine your job forcing you to do something with your money. That’s what happens when you give kids grown man money.

[@paulf144]

Not all players end up in this position.

[@nickatnite16]

Comment makes 0 sense

[@snypav]

You sound stupid. They are grown men!!!!!

[@JohnMartin-me4uh]

Very humble guy. I hope he turns his financial situation around.

[@thomaswolf723]

Joe Smith attended the University of Maryland to play basketball, but he was not heavily recruited. He wound up averaging about 20 points a year for his freshman and sophomore years and was voted the College Player of the Year. He became the first player picked in the 1996 NBA draft by Golden State and had a 16 year professional career.

[@gwright419]

Joe Smith’s life has been a movie forreal

[@NathanStLouis-fz1lc]

A comedy

[@tuk8103]

Wow we in the same spot , crazy

[@ddeeddee1380]

3k. Use 1500 nd flip it. Somebody always got worse.

[@wellrounded9757]

Thanks VLAD. He effectively interviewed himself! Thanks for sharing Joe!

[@smpanther82]

If I was a pro athlete, I would immediately go and talk to Magic Johnson, Shaq, Dave Bing or someone like that who are well established businessmen. So many of these guys have no plan outside of sports because everyone is looking at the sports side of it and not telling them to plan for the future. It is really sad.

[@flyguy7825]

But those guys on a different level those guys we're smart enough to know to venture out of the NBA to help secure their bag. Shaq has always had a good sense about money because he knew when the say no and he knew when to invest in something and would not to invest in something

[@cappriment]

Add Jamal Mashburn to your list. Check out former Cowboy WR Drew Pearson also.

[@1990758]

These people don't care about the athletes that you mention. Because the number one problem is they never think they're gonna go broke.

[@omgDavidGlasper]

Vinnie Johnson. Junior Bridgeman.

[@Mike-rr3hb]

Well, better to have had and lost then to never have had it all🎯

[@reginaldbstewart395]

All y’all talking about how much 61 mil is have to realize he did not receive it as a lump sum. It is a total salary over years. I don’t think he should have lost it all but when you put perspective on it things make more sense.

[@blackdragon6]

Exactly

[@flyguy7825]

It still don't matter. That's still a hell of a lot more money than most of us will see in any lifetime. Regardless if it was a lump sum or not, He should have been smart enough to save or invest in something that was on the up and up in legit

[@TheJacksonsReactions]

Don’t matter if it was 1 million a yr for 61 years.. It’s 61 million.. You sound crazy as hell

[@stacystewart1671]

Solid guy right there, thanks for sharing Joe

[@troyperry411]

I’m sorry but if you made 61 million dollars and end up with 3 grand I can’t even feel bad for you. It’s a shame I mean I’m sure he gave a ton of money to his family and friends. They were probably leeching on him like constantly hitting him up for money but it’s your money man. 61 million, you could easily make sure your family is taken care even just at the basic level. How do you blow through all of that money down to 3 grand? Wouldn’t you stop doing whatever it is you’re doing once you were down to like 10 or even 5 million? That’s even too low before realizing you’re fucking up your money. It’s just insane man so many of these professional athletes make a ridiculous amount of money throughout their career and within 5-10 years out of the league they’re broke smh. Completely insane.

[@azzanjett1788]

Well he really didn’t get 61 cuz of taxes more like 30 something

[@troyperry411]

@@azzanjett1788 doesn’t make it any less ridiculous bro

[@tonypartridge7085]

Man I wish I could help Joe out. I don't have much but he's a good dude. Feel bad for him

[@anonymoususer1824]

Literally could have taken $3M and put it in a mutual fund, real estate and hell a CD and been set. Like barely anything and would be good. Just crazy how ignorant they are.

[@moehendrxx7964]

That flashback was long af fam

[@dahomiequan1171]

Exactly had to skip that mf

[@parlowgems]

Joe was crazy good at Maryland! His story is mind blowing!!!

[@chillb_igotthis]

These athletes need to start investing in restaurant franchises

[@increasekru5123]

It's crazy to have so many millions, and not invest in anything that will make you money for the rest of their lives, absolutely crazy !!!

[@mansamusa2012]

Great idea! Former player Junior Bridgeman owned the most Wendy franchises and later sold them. Mucho 💵💵💵💵💵💵💰💰🤑

[@nickatnite16]

No,they don't. These athletes need to stop having babies with multiple women

[@karlnelson.choosetobeinspi8126]

I love this brothers humility and attitude. I just don’t understand how these pro athletes who were once making 10s of millions find themselves in these situations where they’re now looking at a similar bank account as the average American making $50K a year. It’s pretty sad to see.

[@flyguy7825]

It's not sad to see because he has another stop story. A lot of these athletes do going broke and most of them have one common thing. They never take the responsibility. They always want to blame it on family. They always want to blame it on their friends and they always want to blame it on their relationships with women. He still would have had that money if he would have been smarter with it. Simple as that

[@doncardi8699]

​@@flyguy7825depends. They go in your with no guidence and some not educated enough. It so easy for us to say it now that we are older.

[@CakeFace86]

It's not sad at all it's pathetic.

[@andremiller1566]

His former accountants aint broke, I'll just stop there.

[@1990758]

They never think they're gonna go broke. They're never gonna listen to any financial advice. All they know is I gotta buy three houses, five cars and a lot of gold.

[@kennethhenders]

You make that kind of money. That should last you until you’re in the ground. Most people don’t make a quarter of that in their lifetime. Miss me with that. They don’t need a pension.

[@Joc_GoLive]

He seem super genuine fr fr

[@purejoy1985]

I'm sad after giving my brother 10$ of the 40 I have. I can't begin to explain my feelings to go from 61milli to 3k. Always wondered why those in that position wont buy 1 low price home on the side. Can be nice, little land maybe. A house that is easy to manage bill wise no matter the income level. Keep the house on the low as a safety net home. Not to rent out but live in if the wealth fades away. They spend on everything else except investing in a plan B should finances go away.

[@JarmelWaters]

Alot of women and men go through shit like this we just dont know about it.. just respect him for telling his story so you can try and do better

[@bobbytaylor6946]

Joe gotta nice NBA pension on the way he b aight he might wanna strap up and stop raw doggin doe

[@dominicomaxwell4513]

This is sad and shouldn't be. Dude could have put $1 million in an S&P 500 index when he first got to the league and be sitting nice right now. I hope he bounces back.

[@coreysanders6197]

Look in his eyes, that kitty and money drove him nuts

[@Greattestimon]

I hope Vlad helping him out Dude has a young kid in him

[@SavageSanto]

Oh wow, that’s so fucking sad, I’d rather be broke my whole life than make that much money and then go broke again…

[@mikeaziz5040]

I'm supposed to feel bad about a guy that made $60,000,000 and didn't have the common sense to hire a professional to help preserve their fortune it's on him

[@bosstaylor1112]

I’d never fumble 61 mill idc how much I wasn’t taught how to manage. That’s too much of a bag to lose

[@carlsmith8143]

Not that it makes it better, but after taxes, it only about $16 million.🤔🤷

[@chronoman442]

​@@carlsmith8143that's what the athletes take home after tax. My lil bro pays in NFL

[@spe-ex7sz]

​@@carlsmith8143Nah bro it's about 35mil after tax

[@BRIANDER100]

where do you get 16 million ? half is gone from taxes and fee's @@carlsmith8143

[@carlsmith8143]

@@spe-ex7sz Joe said 16, but who knows.🤷

[@hadbl12]

Great perspective.

[@BrysonGrayMusic]

Why does vlad keep saying “she” and her”?

[@10toes3]

Very productive beneficial piece.

[@cwhall5430]

IT'S CALLED REALITY.... and 99% of is know exactly what it is and how it feels... it's the "shoulda coulda woulda " curse, because your agent usually asks you upfront if you want a financial advisor, but we always said nahhh... Ball till you fall

[@flyguy7825]

You just have to be smarter with your money. You don't necessarily need a financial advisor if you have a good sense of how to manage your money

[@kel5088]

Athletes are the easiest lick when it come to their choice in women, agents, financial advisers etc. ain’t no way I’m getting a financial advisor or listening to someone that come to me with a business plan. Still don’t understand how KG didn’t know 77 million was missing from him. Smh

[@nanagyambibi7426]

Athletes must learn the power of saying NO…to family…to friends….and most importantly to their women!

[@averageamericangirl6819]

This is Joe’s karma. He cheated on his first wife and had four outside kids. He has a good woman so he gets what he gets. 🤷🏽‍♀️ I felt sorry for him but now it is what it is. 😎

[@BRIANDER100]

he's never had a good woman ever

[@UTP504]

You know his first wife to know if she was a good woman or not??

[@averageamericangirl6819]

@@UTP504 he said she was. 🤷🏽‍♀️

[@UTP504]

@@averageamericangirl6819 I didn’t see that, definitely wasn’t in this interinterview clip, but if she was, it just another one of Joe’s poor decisions to not be good to her in return.

[@averageamericangirl6819]

@@UTP504 I think they released the whole interview by now. He said it was not her that it was him. He did these things to her. She tolerated him.

[@knockriobeats]

This first thing you do when you get $$ is buy something that produces income. Even if you only spent $1mil, you could have rental properties. Multi-unit buildings or duplexes. Buy a cement truck or 2 and hire someone to pour slabs. Buy or invest in storage facilities. Become a general contractor and build & renovate homes and flip them. If nobodies talking about these types things in the circle, you haven't brought it up. Start the conversation. Then, if you didn't do any of that, get a job. That's the blueprint.

[@Nonyobusiness-x1x]

Why it sounds like he talking down on him

[@dionwalkersr2113]

AT THE END OF THE DAY YOU HAVE TO BE A WELL ROUNDED ATHLETE THAT IS WHY THE SCHOOLING PIECE IS SO IMPORTANT 💯

[@practicalplinking6133]

Joe Montana and other 9ers, like 30yrs ago, started a financial service for nfl players nearing retirement for just this reason !!

[@gamerschannel9610]

This dude look like CHARLIE MURPHYYYYY (Dave Chapelle voice)

[@orlandocuadra2125]

😂 You ain't right😅

[@NomadicReacts]

Going broke will humble you

[@onlypostthebest6104]

FACTSSSSSSSSSSS

[@pwilliamsj5444]

I feel sorry for those athletes who didn't get the guidance like the new dudes get. Companies like Klutch sports is so valuable to Athletes

[@KINGAMIIAMKING]

@pwilliamsj5444 Klutch Sports is a company to spy on athletes for LeBron and to enhance his legacy. LeBron also makes money off of the athletes signed to Klutch Sports and steals their business opportunities and endorsements.

[@christopherjones7425]

Imagine how much fun I would have spending 61 million with a pension coming my way

[@Doziedoh]

women choices seem to be a major contribution to his downfall

[@OMA-fs1gm]

You seems clean hearted. Wish him the best

[@Jeff_Landis]

Poor guy had to "fend for himself" with $16M clear after taxes. The struggle is real.

[@Nardius1999]

You had include that bit with Gwen Curry in order to establish how he started dating Keisha, oh brother.

[@nyakarundi]

He should bring his academy to Rwanda or Senegal, there is a huge market for that since NBA BAL is booming.

[@TimMcveigh209]

History will repeat itself with today’s nba. Most will spend all their earnings and be in a situation like Joe.

[@mojojackson9390]

Vlad talked the whole segment

[@demri123]

He always does that

[@TheKenzoidElkhorn]

Thanks for sharing your story Mr. Joe Smith. Trailblazers because you and others are taking paths never taken before.

[@Divisiononebasketball]

John Calipari tells his future pros to take a million dollars and put it in an annuity. If you lose all you’re money at least you can live off of the monthly payments from a million.

[@MomoTheDisciple]

No pity for unintelligent men who make bad decisions and squander big blessings. It’s sad but we all have to live with ourselves.

[@claudejackson1555]

He's not Shaq and he's not Kobe,but he is Joe Smith and 60+ million dollars is a hell of a lot of money I get it exwife and 6 kids, but ain't no way in hell he should be broke that doesn't make sense to me I he could have spoke more on where all the money went.

[@mansamusa2012]

Agree

[@antoniolewis]

He definitely let people get over on him. After taxes that $60 million becomes around $30 something million. He said after he paid agents and other people working for on his behalf, he was down to $16 million. Then he had some terrible investments and the divorce. And we all know a divorce can be up to half if no prenup. I really want to know how much of a percentage he gave his damn agent.

[@awman42]

Imagine being Joe smith and have to listen to Lad chastise you on finance.

[@PaulWalker-ph2ls]

Looks crazy but he probably needs the money. Me personally would feel embarrassed losing 61m

[@NCTXVA]

The NBA has a Developmental league that teaches fundamentals in all aspects of their career. Especially, the FINANCES. they can show and tell you what could happen, but it's up to the individual to listen and take heed.

[@DallasMello]

If Kobe grew old. He would have looked like Joe smith

[@kandikane923]

That’s just disgusting to lose millions that makes no sense and just stupid!

[@matundu96]

I really do think the NBA needs to put at least 25% of players earnings in some form of a retirement plan. Receiving millions of dollars at say 21 or your early twenties its a gift and a curse. God knows what i would have done with millions at that age because I did not have the financial literacy that i do now and neither did these guys Joe Smith included. Not all of them received the AI Allen Iverson lifetime contract from Reebok and i wish they did. Dope interview and life lessons.

[@1990758]

The players would never go for that. They have to pay their agents. All players don't make the same amount of money.

[@obeema7630]

Chains, cars n mansions r the most conversation in the locker room

[@maddetox]

if you make 61M and now broke that has nothing to do with having to figure it out once your career is over in sports. But has to do with not being up on your business of money. There's a reason there are accountants, advisors and so on.

[@zackgalante4899]

I don't feel sorry for this guy .. 1million would change my life I would never be broke again