Strike it rich, then the family vultures start circling.... a good news article

[11ducks]

Just read this and thought you guys would like it - its an article about ex-NFL star Phillip Buchanon, and the trouble he had with becoming suddenly rich, and dealing with family (particularly mom) leeching off him - a good read - and kinda sad. What would you do?

http://www.news.com.au/sport/american-sports/ex-nfl-star-lifts-the-lid-on-being-a-new-money-millionaire/story-fnq2nnu6-1227301439869

[Cookie78]

So sad. Thankful for my family.

[zolotiyeruki]

Wow.  I'm glad to hear he's learned his lesson.

Seriously, expecting your kids to pay you back financially for raising them?  Sure, right after you pay Grandma and Grandpa back (don't forget the 50 years of interest!).  And $55k/year?  C'mon, now, that's just ridiculous.

[Gin1984]

It is actually not uncommon for pro-sport players to fund their parents wants in a very flashy way.  There can be a lot of pressure to do so.

[Dexterous]

I agree that it's rather sad, and one would think the lesson could have been learned sooner.  :P

[FrugalToque]

Isn't that pretty common in the U.S.?  The bit where people expect to win the lottery (eventually) to fund their retirements.

Yay!  My kid is a professional <x> player!  Jackpot!  I've finally made it!

Toque.

[Dee 72013]

It's sad but I've found most family members aren't happy for you, they're envious and resentful and want "their fair share"
I love when my family calls us up with," We don't mean to worry you but" I finding started responded with, "You're not worrying me because I have my own household to worry about".

We could come in and rescue everyone that cries "broke, emergency, please send money" and we'd be eating dog food in retirement.
In order to survive you have to develop a thick skin where family and money are concerned. 

[Squirrel away]

His mother sounds awful!

[galok]

In England, you can find similar stories, the football league (aka soccer for N. Americans) has lucrative television rights and we have the most diverse league with players from all over the world, they might earn £100K per week and send money back abroad, creating an industry where nasty sports agents start owning rights to young children who show potential.

[forummm]

Money brings out the greedy in people. It's why I'll never tell anyone what I have. Especially when it gets large.

[gimp]

Money brings out the greedy in people. It's why I'll never tell anyone what I have. Especially when it gets large.

But you've told us. Personally, I'm honored you consider us to be such good friends. Now, my car's been giving me a bit of trouble. Do you think you know of any way to help?

[forummm]

Money brings out the greedy in people. It's why I'll never tell anyone what I have. Especially when it gets large.

But you've told us. Personally, I'm honored you consider us to be such good friends. Now, my car's been giving me a bit of trouble. Do you think you know of any way to help?

Doh!

Actually, yes, I do. Why don't you click on over to http://forum.mrmoneymustache.com/do-it-yourself-forum!/ and tell the lovely people just what seems to be the problem.

[partgypsy]

I'm not surprised at all about this, I had heard of this before. I don't think there is wrong with helping out people, but where do you draw the line? It seems no matter what you do, if you were in that situation, family members would always expect more from you it would never end.

I heard of a similar thing with Aston Kutcher. He has a twin brother. I guess he helped buy him a house, but the brother wanted more assistance.

Madonna has a brother, whom she can support, who is homeless. Sounds horrible, right? The article was meant to shame Madonna, that she is so rich but turned her back on her poor brother who is homeless. However if you read through the lines, you see that he is a hopeless alcoholic who burned through multiple chances and jobs given to him.

[Spud]

http://en.wikipedia.org/wiki/Daniel_Norris_(baseball)#Personal_life

Reading this part of his Wikipedia entry puts a massive smile on my face. This guy has it spot on.

Regardless of how long or successful his career is or isn't he'll be set for life because you know that he'll keep living the frugal, minimalist life because it's who he is rather than waht he does.

This is the ultimate example of avoiding lifestyle inflation. If MMM doesn't interview this guy at some point, I will spend my life savings on a hat. Then I will eat that hat.

Seriously, we should all start a petition and pressure MMM into interviewing him.

I'm uneblieveable excited. It's completely unecessary as I am reading this at work.

[Bob W]

80%+ NFL guys end up broke.

Now for me,  if I had a very high income and lots of investments I would give my mom anything and everything.    In fact,  I would pay all my net worth and take out loans just to spend an hour with her.  She did everything for me without ever a complaint or second thought. 

She has been gone for 5 years now.   Miss you mom. 

[11ducks]

That is so sad, I'm sorry for your loss xo