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Livan Hernandez - Another Sad "Broke Former Pro" Story


Gugny

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when you say cheap, you mean slutty...right?

what the !@#$ is all this?

 

Well my dad used to drink a lot....who knows what Jack or the Captain made him do.

 

I never owned a gaming system from like 1993 until 2002. Now I own one that came out like 10 years ago and have 2 games. I forgot that I had Wheel Of Fortune that my wife likes to play with me.

 

Are you a Pegula???

 

No but I think if I reach out to Kim, she'll probably respond and invite me to games.

She's Korean, I'm 1/2 Korean and Korean's take care of each other.

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give me your bank account, routing number, last 4 f your social and mothers maiden name and i will send you some cash

 

 

Before I run out of money in retirement, I would love you all a lot more if each of you would make the sacrifice now and send me $100.00. That way I won't have to beg down the rd.

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Before I run out of money in retirement, I would love you all a lot more if each of you would make the sacrifice now and send me $100.00. That way I won't have to beg down the rd.

I know of a Nigerian Prince who can help you out. PM me if you want the details.

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Before I run out of money in retirement, I would love you all a lot more if each of you would make the sacrifice now and send me $100.00. That way I won't have to beg down the rd.

Do you know how to make enough money now to retire?

 

You heard of this thing, the 8-Minute Abs?

 

Yeah, this is going to blow that right out of the water. Listen to this: 7... Minute... Abs.

 

Think about it. You're looking for a stream online, you see 8-Minute Abs sittin' there, there's 7-Minute Abs right beside it. Which one are you gonna pick, man?

 

Sell this and in one month you'll be rich.

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Do you know how to make enough money now to retire?

 

You heard of this thing, the 8-Minute Abs?

 

Yeah, this is going to blow that right out of the water. Listen to this: 7... Minute... Abs.

 

Think about it. You're looking for a stream online, you see 8-Minute Abs sittin' there, there's 7-Minute Abs right beside it. Which one are you gonna pick, man?

 

Sell this and in one month you'll be rich.

But won't someone just come along and make "6-Minute Abs"?

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After you turn 18, there are no shortages of opportunities, or willing participants, to bury yourself in debt, work like a dog for pennies or be sent to a 120 degree desert to get your legs blown off.

 

We need to do a better job of educating folks to make better personal, financial and professional decisions.

 

When there are distressed and broken individuals all over the country sleeping under highways and begging for enough change to buy a sandwich or cup of coffee, I am not sympathetic to the troubles of professional athletes who earned millions and squandered it all.

This

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Some of them were smart (or lucky) enough to accept deferring some of their income. Looks brilliant for a few of them now.

 

The league and players association surely have all kinds of resources, but you can't MAKE them play it smart. My wife worked for one of the major banks that had a division geared specifically for professional athletes, but it was tough going because agents, relatives, etc. had their hooks so deeply into them.

 

There's no shortage of resources if you want to play it smart but like you say- Can't FORCE a guy.

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Allen Iverson took a Reebok deal that pays him $800k/year for life with a $32 mil trust he gets when he turns 55 (half of which he lost to an ex, but that's another thread). I'm sure HE wasn't smart enough to come up with that, but it was a wise move.

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Quick read on what the NFLPA provides:

https://www.sportsfinancial.org/the-nfls-financial-advisory-program/

 

My employer sure doesn't care about how I spend & save my money, yours probably doesn't either, so they are certainly the exception to the norm.

 

In a perfect world, financial literacy would be a foundation of high school education, not employer's responsibilities.

 

I'm not sympathetic to these stories.

 

Gee, what a novel concept. Too bad the political establishment in the US has absolutely no interest in having a financially literate voting public.

 

That's why I make my daughter pay me back for the supplies when she runs a lemonade stand.

that doesn't shock me. any loan that isn't officially backed up by some sort of equity tends to be super high interest. i don't feel bad for any of these guys, but at the same point, i grew up with a father who was an accountant, and a family member that was a big financial planner in the area, so i was educated on this nonsense early on. hell, i still ask my dad for advice. it's a constant learning process.

 

What I can never figure out is why these idiots are taking out loans all over town when they are earning millions per year. Good grief, if you can't live within a seven figure paycheck, you have serious problems.

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What I can never figure out is why these idiots are taking out loans all over town when they are earning millions per year. Good grief, if you can't live within a seven figure paycheck, you have serious problems.

 

I've often struggled with this one, too.

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https://www.washingtonpost.com/news/dc-sports-bog/wp/2017/07/11/livan-hernandez-who-made-53-million-over-17-seasons-files-for-bankruptcy/?utm_term=.5a5bb2efeddc

 

42-years old.

Played 17 seasons and made $53 million.

Currently worth less than $50,000 and filed Ch. 13.

 

When I say this is a sad story, I'm not being facetious.

 

Should leagues be responsible for providing financial guidance to those getting out of the game? Should it be the Players' Unions? Neither or both?

 

Personally, I think it's something the unions should negotiate with the leagues to provide these guys with some guidance/assistance. I don't know what, if anything, currently exists. But this is very sad.

Or he could have been a grown ass man and read a couple of books or spent a day or two reading about basic personal finances. Dude could have put 10% of his earnings in an Index Fund and been set for life. Instead he took less than 15 years to burn through about 20x what the average person makes in their lifetime. Yeah, poor him.
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Or he could have been a grown ass man and read a couple of books or spent a day or two reading about basic personal finances. Dude could have put 10% of his earnings in an Index Fund and been set for life. Instead he took less than 15 years to burn through about 20x what the average person makes in their lifetime. Yeah, poor him.

 

If he'd only known about twobillsdrive.com ...

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