Sephiroth
Wade Wilson
Surviving
Posts: 29,325
|
Post by Sephiroth on Oct 24, 2013 9:23:12 GMT -5
Pretty much as everyone has stated, they aren't careful with their money and spend beyond their means. But I would also point out a lot of them did not put their money to good use when they had it and also pushed themselves way beyond their actual abilities. I consider this a major reason we now see so many wrestlers deciding to retire relatively young while they are still healthy enough and have made enough money to pursue other ventures. In the case of Big Show's infamous strip mall, I would also have to point to just plain bad investing. He would have been just as well served, from a financial standpoint, to open a single store in a pre-existing strip mall and work on opening more from there. Building a whole darn mall is a bit too ambitious for a real estate novice.
|
|
|
Post by kingoftheindies on Oct 24, 2013 9:39:21 GMT -5
You should watch ESPN's 30 for 30 documentary Broke. While some people get screwed by family and friends, most just buy things to buy. A few of the guys they interview said they had just bought something really expensive (watch or car normally) and then they'd see something a teammate had that was nicer so they'd go out right away and buy something even more expensive. And they'd spend a couple grand a night at either strip clubs or bars.
Wrestlers were the same way. In one of Kevin Nash's KayFabe Commentary interviews (I believe his timeline one) and he said that when he broke in, Rick Roode told him to spend within himself. He followed the advice and while WWF was at it's worst he was one of the only guys who had both his house and car paid for. Even now, he's able to select what bookings he goes to.
Hell I know a few indy wrestlers who can make livings off of just wrestling. They aren't living luxuriously but they live in nice places and are able to pay the bills on time.
I've always said that if I ever got rich the first thing I'd do is pay back my student loans all at once. After that? I dunno what I'd do.
|
|
|
Post by Medicinal Thunder Liger on Oct 24, 2013 9:40:39 GMT -5
Cocaine is a helluva drug. I was just waiting for this one to drop my buddy bad news had to do it
|
|
|
Post by A Platypus Rave is Correct on Oct 24, 2013 9:43:10 GMT -5
Too much spending, divorces, alimony, children, healthcare, legal fees, and drug habits. Yeah, not even going into the divorces and child support with ric, it's been well documented if he made 5 bucks he'd go out and spend 20.
|
|
domrep
Hank Scorpio
Posts: 7,461
|
Post by domrep on Oct 24, 2013 10:59:31 GMT -5
You should watch ESPN's 30 for 30 documentary Broke. While some people get screwed by family and friends, most just buy things to buy. A few of the guys they interview said they had just bought something really expensive (watch or car normally) and then they'd see something a teammate had that was nicer so they'd go out right away and buy something even more expensive. And they'd spend a couple grand a night at either strip clubs or bars. Wrestlers were the same way. In one of Kevin Nash's KayFabe Commentary interviews (I believe his timeline one) and he said that when he broke in, Rick Roode told him to spend within himself. He followed the advice and while WWF was at it's worst he was one of the only guys who had both his house and car paid for. Even now, he's able to select what bookings he goes to. Hell I know a few indy wrestlers who can make livings off of just wrestling. They aren't living luxuriously but they live in nice places and are able to pay the bills on time. I've always said that if I ever got rich the first thing I'd do is pay back my student loans all at once. After that? I dunno what I'd do. Yeah but he made millions in WCW, so it was easy for him to say that. I think any wrestler from...96 to present that went broke obviously has financial issues. I believe the era of guaranteed money started around 96 no? Or maybe 94 when Hogan came into WCW.
|
|
|
Post by kingoftheindies on Oct 24, 2013 11:14:14 GMT -5
You should watch ESPN's 30 for 30 documentary Broke. While some people get screwed by family and friends, most just buy things to buy. A few of the guys they interview said they had just bought something really expensive (watch or car normally) and then they'd see something a teammate had that was nicer so they'd go out right away and buy something even more expensive. And they'd spend a couple grand a night at either strip clubs or bars. Wrestlers were the same way. In one of Kevin Nash's KayFabe Commentary interviews (I believe his timeline one) and he said that when he broke in, Rick Roode told him to spend within himself. He followed the advice and while WWF was at it's worst he was one of the only guys who had both his house and car paid for. Even now, he's able to select what bookings he goes to. Hell I know a few indy wrestlers who can make livings off of just wrestling. They aren't living luxuriously but they live in nice places and are able to pay the bills on time. I've always said that if I ever got rich the first thing I'd do is pay back my student loans all at once. After that? I dunno what I'd do. Yeah but he made millions in WCW, so it was easy for him to say that. I think any wrestler from...96 to present that went broke obviously has financial issues. I believe the era of guaranteed money started around 96 no? Or maybe 94 when Hogan came into WCW. Even with making those millions, Nash never had financial issues. He and his wife were able to live somewhat comfortably even with the business being down before going to WCW. His issue was that while pay was determined by the house, he would get smaller cuts in pay as the champ than other guys (also cited how HBK got more than 15 grand more than he did for one PPV where Shawn didn't even have a match). Either way, a lot of guys from the late 90's have gone broke as well because they aren't smart with money. Nash was and also got decent pay for doing bit parts in movies (mentioned that when he filmed TMNT2 he made more money in 2 weeks on set than he did that entire year in wrestling). Guys like Foley, HBK,Jericho, Hart, RVD, ect they all have side projects that allows them to have lives outside of wrestling. A lot of guys don't have those side projects
|
|
|
Post by Red Impact on Oct 24, 2013 11:18:49 GMT -5
A lot of young, athletic people don't think ahead to the point where they will no longer be young and athletic. They live in the moment, have no experience in how to deal with large sums of money, get too caught up in their entourages, and end up blowing through such insane amounts of money because they couldn't plan for the future.
|
|