2026-27 Team Developments: Trades / Free Agents / News / Rumors / Ideas

But look how long he retied, Had he not done stuff outside his 25 million before taxes, agent fees, La cost of living he would have been broke. What 5 million could have bought back then cant today. So he would have been broke not being able to afford his house land taxes working a regular 9-5 and people saying he blew his money. And thats with Magic money. Now picture the guy that did not do what Magic did or made what magic made. You can do everything right and still find yourself broke. You're making money on the front end and retiring young but the bills and inflation dont stop. Yes some are idiots and blew money on cars boats etc but thats what not having money being young and all of a sudden do looks like. If one knows better they would do better. It's like Rappers looking tacky wearing excessive watches, chains, cloths, gold teeth driving expensive cars flexing vs building functioning safe communities. They doing the opposite They think they are flexing not really understanding what wealth is.

 

Poor thing

Rich Paul on why athletes have the hardest jobs in the world: “When an athlete makes money, everybody around them stop working”


Off The Court
Rich Paul on why athletes have the hardest jobs in the world: “When an athlete makes money, everybody around them stop working”
Paul explained the biggest financial trap athletes face.

Aug 10, 2026 7:19 AM EDT

By Jonas Panerio
Sr. NBA Writer at Basketball Network


Watching athletes who have dedicated their entire lives to reaching the big leagues finally see their dreams come true is a beautiful thing. Nothing screams “I finally made it” more than signing a big-money contract that can transform an athlete’s life for the better, going from living in the projects and barely making ends meet to keep the lights on to living in a gated community with enough money in a bank account to afford their wants and needs.

But unbeknownst to many, that money can dry up quickly, not just because of the taxes, but more so because of the financial responsibilities an athlete has, not just to himself but also to his immediate family and extended family members.

They all come out of the woodwork
With the media covering every development in the NBA, nothing escapes fans and observers, including the contracts that players sign and the figures involved. Once word gets out, that player’s “family” immediately expands with supposed “aunties,” “uncles” and long-lost relatives all coming out of the woodwork, hoping to get a piece of the pie.

According to Klutch Sports CEO Rich Paul, it’s a common pitfall many pro athletes fall into and a substantial reason they struggle to hold on to the money they have worked extremely hard for.

“Athletes have the hardest job in the world. They take everybody to work with them. You at work, you at work, nobody with you,” Paul explained. “But they take everybody to work with them.”

“Because of that, it’s a very difficult thing to become a professional athlete. Not to mention $100 million, really $50 million after taxes. Now you gotta multiply that times your dependents, then break it down from there,” he added.

 

Paul is spot on and he's seen it. You won't know it until you're in it. More money more set of problems. I have seen people said if they win lotto they would be the same and won't change. What they don't get is they can't even if they wanted to. It's almost next to impossible. That's exactly how you go broke again and on top of that falls in the category of not knowing what to do. Higher a financial advisor then what come next? won't go so far as they work the hardest but they do put in a lot of work. The type of work some people may look at as playing a game but it still taxing. By retirement these guys have bad knees, Crooked broken fingers, bad hips, busted feet, may have had a major injury, etc. it also don't take into account being on the road can't live the normal family life which end up being another set of expenses.