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Old 09-20-2012   #81
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Default Re: Vince Young is broke and out of work

These guys think that everybody just worships them, but many of those worshippers are money sharks, starting with the women.
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Old 09-20-2012   #82
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Default Re: Vince Young is broke and out of work

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Originally Posted by StarStruck View Post
Makes sense, but since I don't have much money, I don't know a lot of the inner workings on investments and the type of stuff good financial advisors will do for their clients. I know many invest in many different ventures such as real estate, casinos and the like, and the question would be how long would it take to see something is terribly wrong when stocks tend to flucuate and sometime it takes a while to see a profit. Question also did Vince see some immediate profit and gave the sense that all is well, and then told when things were on the downside, that is to be expected because the market always bounces back. I wonder what the time frame was before it was more theft than market.
You need not invest in stocks, bonds, real estate etc. Fixed income speaks for itself. You don't make a killing in returns but you don't lose you shirt either. The guys hire amatures to make investment desicions ehen it's best to go with some one who does this for a living. Msdw, wells, UBS are insured and they will make the client whole if there was unauthorized activity. But guys like this trust the wrong people and living on a fixed income is not good enough. They think the gravy train is never going to end.
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Old 09-21-2012   #83
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Default Re: Vince Young is broke and out of work

The callers calling into the 3HL radio show are telling some of the best stories ever. I can not believe that Young is a total idiot.
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Old 09-21-2012   #84
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Default Re: Vince Young is broke and out of work

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Originally Posted by chicagotexan2 View Post
You need not invest in stocks, bonds, real estate etc. Fixed income speaks for itself. You don't make a killing in returns but you don't lose you shirt either. The guys hire amatures to make investment desicions ehen it's best to go with some one who does this for a living. Msdw, wells, UBS are insured and they will make the client whole if there was unauthorized activity. But guys like this trust the wrong people and living on a fixed income is not good enough. They think the gravy train is never going to end.


He could have gone the fixed income route and 20MM invested in 30 year US treasuries would give him 600M a year in income. Mind you any inflation would eat away at his purchasing power but still. He could mix in corp and muni bonds to easily bring in 5-6% interest vs the 3% for the 30 year bond and bring his income to 1MM-1.2MM but still that really isnt enough to be a flashy superstar. It could be done and done rather safe even investing a large chunk in equities would have been better than 5k a time a cheesecake lol
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Old 09-21-2012   #85
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Default Re: Vince Young is broke and out of work

I simply cannot fathom how someone, ANYONE can blow this much money. It just blows my mind.
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Old 09-21-2012   #86
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Default Re: Vince Young is broke and out of work

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I simply cannot fathom how someone, ANYONE can blow this much money. It just blows my mind.
Honestly, I'm pretty sure I could put together a $26million shopping list if I had to.

It comes to a little over 17mm (just so I'm working in my own language here)

Couple of mill on a really nice house, few mill on some great cars, everywhere you go you put on a free bar because it makes you 'friends' and thats before you start spunking it up the wall on ridiculous jewelery etc.

He came into the league in 2006, so he's had 6 years to waste it, that is a mere 3mm a year of wasteage, which frankly, isn't totally out of the realm of possibility.

I think if you won $26mm on the lottery, you'd know that it was a one time deal and would budget accordingly. If you thought your $26mm was going to be the lowest valued contract of your career, because you were going to be the greatest NFL QB of all time whether you put in the effort or not, you were arrogant enough to believe that your next contract you'd earn double that and still be earning $14-16mm a year right up until you choose to retire, I can see quite easily how you could spend at that rate if you were dumb enough to bank on the next contract.

Now the ones like TO, who have had a long career at the top with top contracts, I can understand how he's blown all his money even less, he must have got every dime out of the NFL he could ever have possibly believed he would get.

I still have no sympathy, as you can tell by my using words like 'arrogant' and 'dumb', but I can see how he's done it.
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Old 09-21-2012   #87
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Default Re: Vince Young is broke and out of work

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Originally Posted by welsh texan View Post
Honestly, I'm pretty sure I could put together a $26million shopping list if I had to.

It comes to a little over 17mm (just so I'm working in my own language here)

Couple of mill on a really nice house, few mill on some great cars, everywhere you go you put on a free bar because it makes you 'friends' and thats before you start spunking it up the wall on ridiculous jewelery etc.

He came into the league in 2006, so he's had 6 years to waste it, that is a mere 3mm a year of wasteage, which frankly, isn't totally out of the realm of possibility.

I think if you won $26mm on the lottery, you'd know that it was a one time deal and would budget accordingly. If you thought your $26mm was going to be the lowest valued contract of your career, because you were going to be the greatest NFL QB of all time whether you put in the effort or not, you were arrogant enough to believe that your next contract you'd earn double that and still be earning $14-16mm a year right up until you choose to retire, I can see quite easily how you could spend at that rate if you were dumb enough to bank on the next contract.

Now the ones like TO, who have had a long career at the top with top contracts, I can understand how he's blown all his money even less, he must have got every dime out of the NFL he could ever have possibly believed he would get.

I still have no sympathy, as you can tell by my using words like 'arrogant' and 'dumb', but I can see how he's done it.
Like almost anyone else, I've had the "what if I won the lotto" dream.

In my eyes ifI won a 30M lotto (like the one here tonite) I'd allocate the $$$ like this...

1) Sell house and buy a new one that lets us stay in our neighborhood but gives us the luxeries and space we'd just kill for - estimate this would cost us maybe another 1M, let's say 1.5M because we were drunk on the new money. Man the thought of no mortgage. Just so damn nice.

2) New car? Meh. we like our van, but the wife's car (which we own) is now 10 years old and rusting everywhere. So we'd buy something like a new Honda Civic. Maybe a Lexus if we're again, drunk with the windfall.

3) Private school for our oldest son - well he's already in private school due to autism but we'd have to not rely on assistance. That's 20K per year for education plus 40K per year for his therapy requirements.

4) Vacation. A really nice one.

5) 1M for my parents. 1M for my sister. 500K for my aunt. same for my wife's side. 100K for my best friend to get him out of debt.

I'm left with 20M. I sure can't see that flying out of my pocket. I'm just not that insane.

3)
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Old 09-21-2012   #88
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Default Re: Vince Young is broke and out of work

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Originally Posted by toronto View Post
I simply cannot fathom how someone, ANYONE can blow this much money. It just blows my mind.
Well 26 mil goes super fast when the taxman takes about half, but I am pretty confident that at 38 yrs old with a wife and 3 boys we could scrape by on 13-14 million. Of course I am not flashy nor do I have people in my life I feed to need to 'take care of' other than a small handful of family. I doubt he'll ever be destitute. He brought UT thier only title in forever and he is likeable so he can get a job at the school. But I doubt he'll ever get his pro career and paydays like he once did.
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Old 09-21-2012   #89
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Default Re: Vince Young is broke and out of work

I heard that he spent a good chunk of it on "Fast food". All I could say was "SERIOUSLY?!"
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Old 09-21-2012   #90
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Default Re: Vince Young is broke and out of work

its not that hard to blow money, it is hard for people that have never had anywhere near 26MM in understand how it could be done even more so when your income is 0-250M per year. But being wasteful isnt that hard.
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Old 09-21-2012   #91
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Default Re: Vince Young is broke and out of work

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Originally Posted by 2012Champs View Post
its not that hard to blow money, it is hard for people that have never had anywhere near 26MM in understand how it could be done even more so when your income is 0-250M per year. But being wasteful isnt that hard.

Sorry, I've never SEEN that kind of money, but I would like to think if I HAD it I'd still be driving my oldsmobile, I'd still live in a regular subdivision and I would still be the same bozo you all know and love. The only diff being I would be known for the hearty laugh I emit when distant relatives from Louisiana show up to ask for money.
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Old 09-21-2012   #92
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Default Re: Vince Young is broke and out of work

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Originally Posted by Dread-Head View Post
Sorry, I've never SEEN that kind of money, but I would like to think if I HAD it I'd still be driving my oldsmobile, I'd still live in a regular subdivision and I would still be the same bozo you all know and love. The only diff being I would be known for the hearty laugh I emit when distant relatives from Louisiana show up to ask for money.


We would all like to think we would be responsible but there is a reason why so many pros, lotto winners and people who get large inheritances blow it all
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Old 09-21-2012   #93
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Default Re: Vince Young is broke and out of work

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Originally Posted by 2012Champs View Post
We would all like to think we would be responsible but there is a reason why so many pros, lotto winners and people who get large inheritances blow it all
I wouldn't give ANYBODY a rubber stamp that would allow them to write checks in my name. I don't care if you have $8.00 to your name or Oprah money...that's just stupid.
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Old 09-21-2012   #94
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Default Re: Vince Young is broke and out of work

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Originally Posted by Dread-Head View Post
I heard that he spent a good chunk of it on "Fast food". All I could say was "SERIOUSLY?!"
http://www.ballerstatus.com/2012/09/...ending-habits/

[quote]elow is a breakdown of some of his ridiculous spending habits (via ThisIs50.com):

1. Vince Young's favorite restaurant to hang out in? T.G.I. Friday's on Nashville's West End Avenue.

It was here he once dropped $6k on a meal for he and other players. Yes, $6k. At a T.G.I.Friday's. Players would congregate at the bar

2. The bartenders, who got to know Vince thanks to his frequent visits at T.G.I. Friday's, told Vince they'd make him a "special" drink.

It was a melon drop, which VY had everytime he came to the restaurant.

3. During his rookie season, VY spent $5k a week at the Cheesecake Factory.

He always picked up the tab for multiple teammates.

4. On a 2007 Southwest flight from Nashville to Houston, VY bought all of the seats, except for about ten passengers who'd bought tickets before he could buy the entire plane.

The plane seated 130 passengers, meaning VY purchased 120 of the seats.

5. After each home football game, VY headed for the Morton's downtown where he would sit at the bar and order $600 shots of Louis XIII.

That can add up in a hurry.
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Old 09-21-2012   #95
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Default Re: Vince Young is broke and out of work

[quote=Honoring Earl 34;2018078]http://www.ballerstatus.com/2012/09/...ending-habits/

Quote:
elow is a breakdown of some of his ridiculous spending habits (via ThisIs50.com):

1. Vince Young's favorite restaurant to hang out in? T.G.I. Friday's on Nashville's West End Avenue.

It was here he once dropped $6k on a meal for he and other players. Yes, $6k. At a T.G.I.Friday's. Players would congregate at the bar

2. The bartenders, who got to know Vince thanks to his frequent visits at T.G.I. Friday's, told Vince they'd make him a "special" drink.

It was a melon drop, which VY had everytime he came to the restaurant.

3. During his rookie season, VY spent $5k a week at the Cheesecake Factory.

He always picked up the tab for multiple teammates.

4. On a 2007 Southwest flight from Nashville to Houston, VY bought all of the seats, except for about ten passengers who'd bought tickets before he could buy the entire plane.

The plane seated 130 passengers, meaning VY purchased 120 of the seats.

5. After each home football game, VY headed for the Morton's downtown where he would sit at the bar and order $600 shots of Louis XIII.

That can add up in a hurry.
$600 bucks!!!!!!!! Holy schite. Unless you're Carlos Slim or Bill Gates there is no way I'd ever blow Louis XIII, maybe Eloise 38 DD, but not Louis XIII.
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Old 09-21-2012   #96
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Default Re: Vince Young is broke and out of work

[quote=Honoring Earl 34;2018078]http://www.ballerstatus.com/2012/09/...ending-habits/

Quote:
elow is a breakdown of some of his ridiculous spending habits (via ThisIs50.com):

1. Vince Young's favorite restaurant to hang out in? T.G.I. Friday's on Nashville's West End Avenue.

It was here he once dropped $6k on a meal for he and other players. Yes, $6k. At a T.G.I.Friday's. Players would congregate at the bar

2. The bartenders, who got to know Vince thanks to his frequent visits at T.G.I. Friday's, told Vince they'd make him a "special" drink.

It was a melon drop, which VY had everytime he came to the restaurant.

3. During his rookie season, VY spent $5k a week at the Cheesecake Factory.

He always picked up the tab for multiple teammates.

4. On a 2007 Southwest flight from Nashville to Houston, VY bought all of the seats, except for about ten passengers who'd bought tickets before he could buy the entire plane.

The plane seated 130 passengers, meaning VY purchased 120 of the seats.

5. After each home football game, VY headed for the Morton's downtown where he would sit at the bar and order $600 shots of Louis XIII.

That can add up in a hurry.

Occasionally being "generous" I can understand, but this fool was just wasting money.
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Old 09-21-2012   #97
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Default Re: Vince Young is broke and out of work

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Originally Posted by Dread-Head View Post
I wouldn't give ANYBODY a rubber stamp that would allow them to write checks in my name. I don't care if you have $8.00 to your name or Oprah money...that's just stupid.


Again its not something regular folks have to worry about. Ive worked with all three types of people I mentioned and seen all three types go broke without people stealing or making bad choices for them. When you run a business as CEO you dont have time to pay all the bills yourself but that doesnt mean you shouldnt look over the books
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Old 09-21-2012   #98
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Default Re: Vince Young is broke and out of work

[quote=chicagotexan2;2018086]
Quote:
Originally Posted by Honoring Earl 34 View Post
http://www.ballerstatus.com/2012/09/...ending-habits/



$600 bucks!!!!!!!! Holy schite. Unless you're Carlos Slim or Bill Gates there is no way I'd ever blow Louis XIII, maybe Eloise 38 DD, but not Louis XIII.

Sorry baby, that $600 shot better come with a room & a hooker.
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Old 09-21-2012   #99
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Default Re: Vince Young is broke and out of work

I guess he will go from, "making it rain" to making it hail at the skrip clubs now.

I know there will be Vince nuthuggers that will blame this on Fischer, because he didn't like him, and was never given a chance to succeed.
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Old 09-21-2012   #100
TheMatrix31
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Default Re: Vince Young is broke and out of work

After reading that list, I am even more glad he's broke.
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