Posted August 19, 2011 - 06:19 AM
Managing millions of dollars is WAY different than managing hundreds, or even thousands. I don't know what Delonte's background is, but if he came from a poor family, than most likely he's going to spend his earnings to the fullest. Demands from his family, buying expensive jewelry, going to parties, paying for all your friends bills, tipping, buying a million dollar house, and basically living the lifestyle that he's always dreamed of. That's going to shred a lot of your earnings. Athletes need a sound financial adviser/accountant to keep things in check, and to make sure that he's investing more than he's spending.
Unfortunately, a lot of athletes fail to realize this until they've already spent all of their hard earned money. The bad part about being an athlete is that their careers are very short, so they have to proactively come up with a business plan to alleviate any financial uncertainties, if such a case arises. I don't think Delonte's going to last 1 year at Home Depot, especially when the season starts. Who would want to hire someone who you know is going to leave instantly?
RIP Dad. I miss you so very much...
July 27, 2011 4:00 AM.