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If You Were A Millionaire

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eleothegreat

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Antoine Walker of the Celtics made more than $110 in 12 years while playing pro. Take away some of that for taxes and throw in some edorsement money - that would be about sixty to sixty five million perhaps.

That wasn't enough, however, because for the past couple of months, he has been pursued by plenty of financial institutions because of unpaid debt. In fact he even owes more that $4 million in unpaid debts, and may face a felony charge for check fraud. So not cool at all.

So, now this gets you thinking - how would someone like that start to lose all that cash? Well, here's a list of cash blowing things that most probably ate up all his money:

1. His mother has estimated that during his playing days, he moved around in an outsized entourage, housing and feeding around 70 friends and family members at one time.

2. He built his mother a mansion in Chicago which had ten bathrooms, a full size basketball court and even an indoor pool .

3. He bought a lot of cars, two Bentleys and two Mercedez Benz, a Cadillac Escalade, a Hummer and a Range Rover. And not only that, he often had the vehicles pimped with rims, sound systems and custom paint jobs.

4. He also collected Rolexes and Cartier watches (ouch).

5. He was also a too-generous team mate and friend, giving money to underprivileged kids, paying for team dinners and giving custom made suits for his coaches.

All that (and more) eventually ate up all the money that he made. And I can only say to myself - poor guy.

Know what, I'd rather not experience the life of a (multi)millionaire, if I get to end up broke in the long run. That would probably break my heart. What about you, what would you have done with $60+ millions?

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Know what, I'd rather not experience the life of a (multi)millionaire, if I get to end up broke in the long run. That would probably break my heart. What about you, what would you have done with $60+ millions?

Not sure what I would do with $60 million but would like to have a chance to find out. If I could not live within my means, I would certainly hire a trusted money manager to advise me. I feel sorry for a guy that goes from rags to riches and back to rags, but at least he had a good time for a while. Isn't that a little bit like the Thai philosophy? Live for today and forget about tomorrow.

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His mother has estimated that during his playing days, he moved aroundin an outsized entourage, housing and feeding around 70 friends andfamily members at one time.

This is just stupid.

Know what, I'd rather not experience the life of a (multi)millionaire,if I get to end up broke in the long run. That would probably break myheart.

I can see how you'd feel that way. Talk about spending the rest of your life with massive regrets...

What about you, what would you have done with $60+ millions?

What I hope I would do: Blow $5 million on whatever the hell I want, then invest the remainder in a diverse portfolio and live off the interest the rest of my life.

What I'm afraid I would do: Spend it all on hookers and video games.

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After I build a house here in Thailand, I would book a trip to US with my bf to see NYC, Memphis, New Orleans, San Antonio, San Diego, SF and then Chicago. Then we would go on a long cruise to recuperate to get ready for a trip to India, China, Nepal and Tibet before heading to Egypt, Morocco and Europe. We would stay in each place until we were ready to move on.

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Actually, I'd like to take back what I said about not getting the millions at all. LOL. I'd probably want to try the feeling of being a millionaire, but I don't want to blow it off. I'll probably build a house here in my home city, and tour the world perhaps. Invest in some stuff.. Get myself a new wardrobe! Put some money in the bank for my daughter. Oh! A car, too. I don't need plenty of cars, I can live with one..or maybe to.

Heck, I might just end up like Antoine Walker in the long run! Haha!

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If you're mega-rich giving away money to friends and relatives is a smart move as well as being generous. If the home with the basketball court is actually in Mama's name then Antoine has a place to live post bankruptcy.

With 60M bucks one should not be particlarly concerned with return on capital instead focusing on return OF capital.

Rule one the advisors are just advisors and one needs to handle much of the money themselves so as not to get ripped off.

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  • 2 weeks later...

I'd travel LOTS more if I was mega-rich.

I always thought that if I were insane rich, I'd have a small fleet of planes with a staff of pilots to fly them...have the planes stationed around the world, so I could always travel anywhere I wanted at a moment's notice.

I usually have those thoughts on Saturdays, right after buying my lottery ticket, and stop having them some time Sunday afternoon when I check the winning numbers and discover yet again that I wasn't even close. ;)

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