Friday, February 15, 2008

Pay attention lil' homies...

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"Cash Rules Everything Around Me..." *C.R.E.A.M.*

"Money Makes The World Go Round"

We've all heard the sad but true sayings above, and the funny thing is, some people actually live by them...

Alright ya'll time to get serious for a little bit...

Some of you may have got my e-mail with the same message I'm "Preaching" in this blog post, but I decided this should be for everyones eyes, not just those in my e-mail list.

Okay, we all know Latrell Sprewell right??? Former NBA All-Star, former Converse front man, he choaked out PJ Carlisimo, etc. He once turned down $21 Million for 3 years, basically $7 Million per year which pretty much works out to $4.5 Million after taxes because "He has a family to feed", meaning that wasn't enough. I don't know about you, but that sounds CRAZY AS HELL to me!

It would seem nearly impossible to go broke making that much per year, right???

Guess again...

This is yet anoither sad truth to the life of the Professional Basketball player. Which is why you not only have to make sure you've got the right people surrounding you and your family, but the right people representing you, managing your money, and helping you budget your money as well. You have to save... You can't make $1 Million a year and spend $1 Million a year. Otherwise you'd be living check to check... Crazy right? A millionaire living check to check... Sad thing is, I'm pretty sure it happens a lot more than we'd like to think it does.

In my mind, it should be damn near impossible to go broke if you are even making $1 mill per year. That's more than the average corporate CEO's annual salary. Think about it. If you're making around $500,000.00 per year, you can consider yourself having won the lottery and collecting payments on your winnings. With over $7.0 Million annually you should be in a situation to have your grandkids grandkids grandkids great grandkids college paid for and set up on a trustfund based off of interst from your savings account alone!

Some of you who read this will soon be in situations where your financial well being is at stake. Make sure you consult with those close to you such as your mother, father, brother, sister, coach, best friend, big homie, uncle, etc. The people you trust. Make sure the people you care most about and those who care most about YOU are involved in your important decisions such as where you choose to go to college, who you chose to represent you, who you choose to assist you financially, etc.

Read the article linked below and take heed...

Hit me back with your thoughts.

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http://sports.espn.go.com/nba/news/story?id=3241444


'Zo

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