Iniesta is a perfect example of saving up for the future, still playing now for Emirates Club making a fortune. Barely breaking a sweat and I’m sure he’ll retire when he feels comfortable financially.
I never thought I'd hear "Jujutsu Kaisen" and football in the same video. I guess you're the second football RU-vidr that I've know to combine both anime and football. The first is Maqwell
ESPN did a great documentary called "Broke" that touches on a lot of these issues. One of my favorite lines was from a team president that would tell players "you can live like a king for five years, or you can live like a prince for the rest of your life". Something they noted was players not factoring in taxes. When you make that much money in a short time, you might not realize that 40% (probably more in Europe) doesn't really belong to you, and athletes can't hide that money the way business execs or other high earners do. Also the overlap of friends/family and bad investments. Your cousin wants to open a restaurant or a childhood friend has a great idea for a startup, they tell you it's not a handout it's an investment, plus you "owe" them from when you were growing up so you make a bad investment on their behalf.
I think it's a combination of a lotta things: bad investments, excessive spending, alcohol and drug addiction, etc. It's not something limited to sports athletes. That's a common occurrence in the music industry, most notably in the Hip Hop/R&B scene.
These dudes need educated when they’re young on money and asset management. But while there is such focus in entertainment cycles on the bling lifestyle, there will always be guys who only want to play football for the money.
it's as simple as the fact that eventhough these footballers are immensely talented, they are(for the large part) unintelligent, they have no idea of concepts like generational wealth, saving up, investing etc, so they just spend all that they make and have nothing to spare at the end of their careers
If you think remmitance around the world is the same as africa youre sadky wrong my friend😂 People in afica(family members) will hit you with bith physical and spiritual attacks if you dont send or send the amount they request😂
So true, the richer you get, the farther you should go from marriages and marriage itself is a failed investment. You pay for someone everyday expenses only to later lose 40-50% of all your assets when they feel they can't milk you enough anymore
@@Anonymous-fr2op Well, im coming from a country where this 50% rule just not exists and you are not required to pay for someone elses lifestyle (but your childrens) after you dissolved your legal contract between the two of you. But damn bro, you got some women issues. And with that i dont mean issues due to women, but issues WITH women.
You have a very calming voice, a great sense of humor and most of your videos are great quality content for people who are into football. Keep up the good work.
From Kenya. Thanks for an informative and well balanced video. It;s great that unlike most social media news,you are not solely bashing African players in the pro leagues....I was disappointed to read many negative posts online that the frugal yet charitable Sadio Mane is greedy and money hungry for leaving Liverpool to Bayern yet thousands of players move for higher wages each season!
It's also well documented that Sadio does so much for people in his home community and country, he built a school, a hospital he even donated money during covid and he has done so much more that people are not aware of. Easy to judge a book by it's cover.
I wish clubs would give players an option to divert some of their payments to investments/savings. Education on finance is key, no one expects to make 10m+ in a decade.
I think the clubs should stop giving out these ridiculous wages in a short window. Instead of paying out 60k a week, give the player half of that and put the rest in a fund which will be paid long term after retirement. Kind of like how pensions work. There is no excuse to give kids (yes kids) this amount of money when they have barely finished high school.
It's a good idea but this should be done by the players not the clubs. Players should take economic literacy courses to set themselves up for the future.
And then a club down the road offers 100% of the wages up front to a dumb 18 year old and he's gone there instead. Could only work if EVERYONE did it. As if Bohly wouldn't find a loophole.
@@VelvetMetrolink i understand that but you said nit yourself. An 18 year old. He might be dumb but he is an adult. Clubs should offer literacy courses as it will make the players aware of the benefits, risks and mitigations. If they screw up, then it should be on the individual not the collective
@@eldios831 Yes. It's seems a good idea in theory, but not really practical. It really should be up to the player to hire a pro to help manage his money, and have the discipline to set a monthly spending limit and live within it.
Black tax is real especially in Africa Currently experiencing this with family and and not what you would classify as rich just barely scraping by myself
important topic! Most people, even in Western countries where we say Education is so amazing etc. have had little to no education when it comes to finances and this is not a mistake but it's by design! It's easy to fool people if they don't know or are naive.
Then there's the Robert Gronkowski school of personal finance. "Gronk" played for the New England Patriots (American football). He caught footballs thrown to him by the fabulous quarterback Tom Brady and scored tons of touchdowns, won lots of trophies. When he was at Arizona State University, waiting to be drafted into the NFL, his father challenged him not to spend any of his NFL salary and only live off endorsement income. In the last year of his career he was earning, allegedly, eight million a year in endorsements and had never spent his NFL salary or bonuses. I wondered if this was true. When he transfered from the NE Patriots to the Tampa Bay Buccaneers, he sold his Boston home, which was listed in the paper and on real estate web sites. It was a two bedroom condominium selling for just over a million dollars. It was a nice condo, but it wasn't a mansion and the upkeep expenses were definitely low. Of course, Gronk has never married and has no children which also keeps expenses low.
Could you make a video about the 2023 Brasileirão season? Botafogo led the championship for 31 rounds to end up finishing fifth after ten matches without victories. Not to mention Santos' unprecedented relegation.
Don't think it's particularly complicated honestly. Footballers (most athletes honestly) come from disproportionately low income families and areas and often have pretty poor educations because they spent so much time focussing on football over everything else. This lack of experience and education, combined with the fact that football skill is probably not correlated with intelligence, means you're going to have a lot of young, slightly dim men with huge amounts of disposable income, no experience with handling it and often not knowing anybody who does. What other outcome can you actually expect from that scenario besides bankruptcy? Personally I've thought clubs should take some more responsibility in ensuring their players are financially literate and have the knowledge to avoid this. It's not exactly complicated to stick some money in a savings account or pension scheme, but if no-one you know does it or has any idea about it, plenty of them might not think about it
Yeah I think people underestimate this if you come from a poor background getting given 10m in like 2 years can be so damaging. Like giving a starving man a buffet (can end in a heart attack). I have money issues and I know if I won the lottery tomorrow I would fucking destroy myself in 6 months.
@@Dd-ks2fmdo you think so? I don't think we give ourselves credit for being self aware that if we get lucky we will ruin ourselves. Like me I always thought if I had money, I would live the same as I do now. I train, I work and I study just somethings become easier
@@Dd-ks2fmnah you are only thinking worst case scenario. It isn't the poor background or lack of education that does these players in. It is simply lack of restraint and ego. They lack the discipline to not buy what they don't need to buy... and they lack the humility to understand that doing drugs and partying etc etc has consequences for everyone and that they aren't special or different. In the case of some brazilians it is their ego that makes them eat and drink and party without care, thinking that their enormous talent makes up for all of it. They adapt the same behaviour financially. They assume their enourmous wealth and brand image will mean that they can never truly be poor again... And finally, their choice in the people they share their life with. Marrying the wrong person, having the wrong friends or the wrong agent can destroy them the worst possible way.
The sad part is no one is taught economics in school. Economics in maths lessons, not algebra. The establishment don’t want us to know because then how will we get in debt. 😢
Money is an amplifier. it shows you who you really are those who are broke before the money will go back to being broke. it doesn't only amplifier you it also amplifies the people around you, it will show you who is your really friends are and the fakes that just helped you to get free money. once you start getting money start find new friends, i mean good ones not those that leave of daddy's money, those who work and grind to get money should be your new friends. also family are even worse than friends.
I think ahletes all have addictive personalities. If they didn't do sports, they would doing every drug ever invented. Addictive personality and money don't mix. It's only a theory of mine.
As someone who has simple tastes, I find it hard to even imagine where they spend the money. Cars, yachts and lavish homes are not investments, but you can recover some or all the money. I guess they eat, drink and fuck all the money.
No the statistics provided are misleading, remitance in africa is a bigger issue than in asia or the west, firstly there are more asians in the world and more in europe working better jobs or wealthier but as for africans it doesnt matter if you clean toilets in london you still have to send that money back in africa, black people are simply too social, where as westerners arent, ive lived in london for decades and white people are motivated and keep to their own, they dont even talk to family or know their neighbour but black people are always social and thats what obi mikel was trying to convey, soon as you become a footballer from africa all your unknown relatives starts showing up
Really Good video bro, and it's a bit of an eye opener to a lot of us. When we sometimes compare our life, with a pro baller. Saying stuff like "He is making 100k a week.He should be performing" But we forget New Levels,New Devils.... 1st world problems is heaven to someone in a 3rd world country
Those net worth estimates are completely made up. Two examples: I personally worked with a A+ popular musician. I was their accountant. Estimated net worth per the various sites was around $50m. Actual balance of all their combined bank accounts was less than than $5k. Also had a MASSIVE delinquent tax bill. Had some assets but nothing close to $50m. Example 2: my coworker had a single acting credit for a super low budget film. EST net worth: $1m. She was broke 😅
I miss the days when youtube comments were full of memes and jokes about the video...but amazing video nonetheless😄. Keep up the great work and I hope to see a UCL Group Stage Review coming soon!
Here in the states, a lot of the reasons pros go broke is financial illiteracy. You aren't taught how to manage money here, bc of that most hire someone to handle that. Don't even learn how to do taxes, so same person or another person is hired to handle that. With all of that pros are buying a big house or 2 for themselves, a big house for their mom and grandma, and then buying a few cars for themselves, a car for mom, car for some friends. Generally just wreckless spending, bc they don't know how fast that money can drain and all those things they are buying requires a recurring payment. Shaq has spoken about how after his rookie season he hired someone to teach him to handle his money, bc he was spending like crazy and went to buy something simple and basic, but card was declined.
There's a Icelandic saying "the need teaches a naked woman to spin clothes" very roughly translated. It meand if you need to learn something. You learn it.
In my opinion 2 factors are the biggest :1 The financial education that is probably none existent since they usually come from very poor families so they never had a chance to actually learn how to properly manage money or they got insane income at a really young age .2 I think the most important factor is that player just get used to the lifestyle of a pro ,since they have the income while playing ,they get used to living that way even after their careers are over so their savings disappear in 1-2 years since they continue living as if they still have those huge contracts .
It is actually lack of intelligence+ego+hedonism. Messi, Cristiano, Ibrahimovic and many many others all share the poor, uneducated background... And yet they are disciplined, smart and measured in their approaches... even though their salaries are much higher than a Ronaldinho salary was back in the day.
Everyone joked about Portuguese international and Southamoton and Fulham player Luís Boa Morte's frugal MTV cribs episode (it's on RU-vid) but he knew what he was doing. Footballers' careers only last for a few years so save as much as possible, invest wisely and don't surround yourself with bad spending influences.
Phillip Lahm is known as a smart guy: He bought a few of the best known wellness brands in Germany (Schneekoppe, Sixtus...) has cooperations with Adidas and Aldi, but almost all the companies he bought were close to bankrupt, and he could not turn them around. He loses around 1 million € per year, even buying famous brands for pennies. Sometimes it's better to not invest at all.
40% live pay check to pay check and 50% of them overspend... So just 20% of people have bad spending habits yet were all scratching the dust to live 😂😂😂 can I get a hell yeah for capitalism 😂
Divorces, such a racket. Honestly players should just avoid marriage until after their career. Like dont even risk the divorce option while you're earning 100k a week.
"They have to look the part" I have a small story about that. When i was young there was a market chain in the area which was family owned but extremely monetary successful. Their son was born before they started, so throughout his childhood the wealth of his parents grew quite drastically (from average joes to millionaires), but he never looked the part. He was always seen in his camouflage trousers, some shirt and a leather jacked. Wild haristyles and all that. Funny guy, down to earth, extremely generous (not in a look at how rich i am way he just shared everything). Parents also did a good job of not letting him become an empty head (like classic 2nd generation wealth)
On the one hand, I feel sympathy for people thrown into the deep end as teenagers, but on the other hand, they're earning the average person's yearly salary every week, so that's basically a yearly salary that comes close to the average person's entire career earnings. If you play for a decade on that kind of income we're talking 10 lifetime's worth of income, and if you end up bankrupt a couple of years later you really have no one to blame but yourself.
This is a common theme w athletes in the US as well and, tbf to them, financial literacy within this country is more or less non-existent on a formal level
the problem is after football what skills do they have? theres no education, no skills. its insane. Former captain of Australia just went bankrupt the guy is 46 and lived like we was in his 70s. Again, like the rest of us get yourself educated and back to work
Why do you have to add Ronaldinho to you propaganda He is on social media n he is no where near broke. It's amazing how fans want to throw mad at him. His jail situation was blown out. The country treated him like a king in jail
This topic today is a very serious issue that affects us in large numbers. Oh boy. How i wish i was taught financial literacy from a young age. Either way, at the end of the day, you can give the person resources to elevate their lives but its them in the end who decide what they want
Once there was an Argentinien player in Corinthians called Defederico. The Argentinien press called him the new Messi. Lost all gambling in São Paulo nights.
Bro please do a vid on Barça right now watching their games is just giving me depression. We seem to concede in the first 2 mins of every match miss open goals. Lewandowski has gone from being the best Striker two years ago to trash same with Raphina. The defence is gone the tactics don’t make sense. I need someone to make it make sense. I honestly feel as if we are as bad and inconsistent as United are.😔😔😔
Many of the top teams don’t allow academy players to buy flash cars to avoid they starting overspending. I don’t know what they could do with first team players though
I don't think people understand how much divorce can chew into your money, especially when it is a heavily congested divorce and also child contact contracts and payment for welfare. These players often get hit with it in the later part of their career or when they retire....let's also mention that nobody can sniff hidden money like a solicitor 😂😂😂😂😂
i feel like once you reach a certain level of fame in football once you retire you will be financially stable as brands would want to partner with greats of the sport rather than a retired championship level player
