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Cecil Fielder files for bankruptcy
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| itsTrueSonic |
Cecil Fielder, great Detroit Tiger's slugger in the early 90's who hit 51 home runs in 1990, files for bankruptcy.
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Another sports celebrity has went down the drain and spent all his money like water. he had $47 million dollars in salary! .. how the f*ck did he allow himself to spend that much money in less than 20 years ? i know mike tyson was an idiot by giving his money to his "comrades" while he was in jail, but this guy ? .. why do celebrities allow this to happen to them?
it makes me want not to win the lottery, because money = greed. it is so strange that poor people like us work hard for money, and don't need to ask for loans, yet people with a lot of money lavishly spend their money, and end up bankrupt .. no self control..
do we want a lot of money? |
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| d0uble h3lix |
| quote: | Originally posted by itsTrueSonic
Cecil Fielder, great Detroit Tiger's slugger in the early 90's who hit 51 home runs in 1990, files for bankruptcy.
Read Story
Another sports celebrity has went down the drain and spent all his money like water. he had $47 million dollars in salary! .. how the f*ck did he allow himself to spend that much money in less than 20 years ? i know mike tyson was an idiot by giving his money to his "comrades" while he was in jail, but this guy ? .. why do celebrities allow this to happen to them?
it makes me want not to win the lottery, because money = greed. it is so strange that poor people like us work hard for money, and don't need to ask for loans, yet people with a lot of money lavishly spend their money, and end up bankrupt .. no self control..
do we want a lot of money? |
if i got even 1 million dollars here's what i'd do...either invest some into some relatively safe, good yield investments, or put it all in an account @ DUCA or ING or another high interest firm, and just live off the interest..the more money in there, the more interest per year, i dont understand these twats who spend $40mil in a couple years...its idiotic. |
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| itsTrueSonic |
| quote: | Originally posted by d0uble h3lix
if i got even 1 million dollars here's what i'd do...either invest some into some relatively safe, good yield investments, or put it all in an account @ DUCA or ING or another high interest firm, and just live off the interest..the more money in there, the more interest per year, i dont understand these twats who spend $40mil in a couple years...its idiotic. |
ditto .. like who wants $10,000 chrome rims? |
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| tribu |
| Sad to see this so soon after his retirement. Though I dont think he ever won the big one, he was definitely one of the better power hitters of my childhood days. If I ever got rich, Id take a class on cash management. |
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| Boomer187 |
hind sights 20/20, just walk down his path and you'll see how easy it is to spend it all....
[of course, how the funk do you lose all that money..... |
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| XaNaX |
dood it works like this. Poor kid has nothing growing up. Lives in a ty neighborhood, wears the same clothes his 3 brothers already wore, no money for anything. But he is good at baseball and all of the sudden by signing his name on a contract he goes from a guy with nothing to a multimillionaire.
If you start with nothing and spend years working to build wealth and become a millionaire, you don't see those people pissing their money away and ending up broke? Why? Cuz they busted their ass for that money and learned a lot of lessons along the way.
This guy now has millions in the bank and has decides ' I never had anything, I'm gonna get me some stuff'. Plus you have a lot of your friends and relatives from when you were poor looking for money. And you are making $5 million a year so you don't think anything of it. And then all of a sudden your career is over and you don't have any money comming in, but you have an expensive lifestyle to support.
Getting a bunch of money dumped on you without having learned the skills to deal with it rarely works out. You see a lot of lottery winners that end up broke. You can't really judge them until you have been them. |
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| itsTrueSonic |
but dood. $40 million??? i would understand spending that much in like 15 to 20 years, but less than 10 years? that's unbelievable.
and it's understandable about the "slum life" and everything when he was young and everything. i bet you if you survey all the sports athletes out there, probably 70 to 75% of them lived the slum life, because they felt sports was the best way for them to get out of the gangsta lifestyle.
how many percent of athletes do you think spend all their money before five years after their retirement? i say about 40% of the athletes.
is that a high number?
:nervous: |
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| djshan |
| he spent all his money on porn videos.:haha: |
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| Trancewave |
XaNaX has got it right. It's really not that hard to spend all that money. He never really did have 47 million to spend, don't forget a lot of it went to taxes. I don't know what the tax rate is for the U.S. but at that salary of 5+ million I'm assuming upwards of 40% or more.
A major league career doesn't last too long say 10-15 years. Once that's over for some people it's hard to adjust to not having a large income coming in year after year. If you spend it foolishly and don't save up for later years it's going to be very hard to maintain the lavish lifestyle you're used to. He'll still have a lot of expenses that won't stop once his playing career is over eg. maintainence of a 3+ million dollar mansion won't be cheap.
I also don't doubt that a lot of people took advantage of him. Reading the story of his bitter divorce with his wife is sad. She sounds like a psycho. |
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| Protege |
I wouldn't worry about him to much, his son Prince is one of the hottest prospects in the minors for the Brewers and should make it up to the majors in the next year or so. No doubt he should land a fat contract after he starts knocking em outta Miller Park.
Also, Cecil lives/used to live in Viera, FL and I would see him driving around in his ferrari sometimes. Funny as hell to see that man drving in that small ass car.:toothless |
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