Carmelo Anthony explains why a $100,000,000 contract doesn’t make professional athletes rich for life “$100 million… let’s not get that twisted.” “It’s not really $100 million.” “You’re taking 50% to 60% off the top.” “So that $10 million becomes $5 million.” “Then you’ve got taxes in every state you... play in.” “You’ve got a house.” “You’re taking care of your mom.” “You’ve got a 4% agent fee.” “You’re not working with $10 million anymore, you’re working with $5 million.” “That drastic lifestyle change is what messes a lot of athletes up mentally.” “You’ve got to budget how you pay your mortgage.” “You’ve got to budget your food.” “$100 million is not $100 million.” “You’re not even seeing 50% of that money.”show more

Can you imagine having 40-50 million dollars after taxes and not being set for 3-4 generations? This is beyond absurd

While others are complaining Chad Johnson saved 83% of his NFL salary

My guy is trying to explain how millionaires are supposed to live with millions of dollars to people that have a house, pay taxes, have a family, need food and do it with drastically lower income and success. Tone deaf.

First he stabs some kid to death at a track meat, and now he is saying this dumb shit.

Charles Barkley explains why 80% of pro athletes go broke

Carmelo’s budget: Contract: $100 million. Net after taxes: $45 million. Agent: $4 million. Moms and fam: $5 million. House and furnishing: $10 million Cars: $2 million. Jewelry: $2 million. Swag: $3 million. Can’t remember where it went: $10 million. Impressing women: $5 million. Left over: $4 million. Conclusion: It’s hard out here for an NBA superstar.

Cool.. then you have $40M which nets you $2M per year for life if invested half intelligently. Who can’t live on that?

You can be rich for life with $10 million if you're not stupid.

Another example of poor money management and poor financial education. Idk why these mfs get on podcasts to complain or vent about money and how they go broke. Bruh no one listening to you if after all your reasoning for why it ain’t enough, you still pocketing millions? Get the fuck out of here 😂😂

nba players swear theyre the only ones paying taxes. lol

Yo shut the fuck up

Bro finally figured out how a job works

Any individual with a basic education already knows this. I don’t understand how athletes are so fucking dumb and why they think the general public is as stupid as they are.

I'd love to give that contract a try.

These nba niggas delusional at all ages

He’s absolutely correct. $50 million really isn’t a lot of money when you spend it like a fucking idiot.

So wait… athletes gotta pay all the same sh*t we gotta pay… but we don’t get the $100 million over 5 years. Yeah they got it rough.

Carmelo Anthony reacts to Charles Barkley reportedly leaving $100,000,000 on the table to stay loyal to TNT

Melo just be saying dumb shit. He started off by saying 100 million but gave examples on 10 million. You dont pay taxes in all states because some states dont have taxes.

Most people are set for life if you give them a million or two to work with but 50M+ is not enough for athletes? How hard is it to connect to a financial expert and invest to make that money grow instead of worrying about how you're gonna spend it all?

Math is hard, but... We started at 100 million, then did an example at 10 million, and then whined 100 million isn't enough. Am I the only one seeing the core of the issue

Wait! You take 50-60% off the top of $ 100M and you're left with $5M? No wonder they lose money.

Let’s say 100milly is really 25milly cash. Blowing 25milly is still crazy. 😂😂 “ you gotta live” is silly.

Who could possibly eat food on a $5m budget

I thought we only have fools in Nigeria? well his papa is probably one

ah baba!

'Black athlete reveals poor money management skills'

Imagine having 50 MILLION DOLLARS after tax and complaining how it doesn't make you rich? 😂

Every sports league should have an in-house financial advisor that sits with all rookies and first year players and helps them understand how to manage their finances. Whether that’s handled by the team or the league it doesn’t matter, but it should be in place to help protect these young kids that became millionaires overnight. Over 50% of all players across most leagues and a bankrupt when they’re done playing. Too many people allow predators to get their hands on their money before they even know how to manage any of it and it’s sad. These kids spend their whole life, honing their skills to become professionals only to have their money ripped out of their hands before they even realize it.

I hate that athletes are really tryna excuse bad spending habits, but saying a 100 million dollar contract doesn’t set you up for life. @RichPaul4 @carmeloanthony @obj smh 🤦🏾‍♂️ kids I was today’s years old when I realized a 100 million dollars ain’t shit lol 😂

Give me 5 mill rn and I’ll show you dumbasses how to manage money. Mind you NBA players get paid more than any sport not named baseball in America.

Ok, so... why not still live in da hood and pay for minimal things and invest that 5 million...? 🤷‍♂️🤷‍♂️🤷‍♂️

Where have I heard that before? Oh, that’s right…

melo my guy but this conversations is old & tired.. promise you we do not want to hear how y’all can’t manage millions of dollars while most of us is getting twenty dollars an hour

Tired of hearing this delusional shit. 😂 Jaylen was right, the IQ bar is in hell.