Hopefully. Some people never learn.

My dad always told me this "Whenever you loan, spend or invest money never expect it back." By following this rule I've always made sure I can live off the money I will have leftover after a transaction before I make it.

Just you.. lol

But seriously.. I don't view it as greed. It's a smart thing to do.. Invest your money (especially in the NFL.. With the short productive time those players have and all) for your future.

Just want to let you know.. that it IS ok to make millions and spend it on stuff most people would never dream of. I think us 'broke' people need to be aware of how we think of the millionaires of this world. Until we actually have and make the amount these guys do/have, it's pretty easy to spend their money for them.

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On the contrary, Formo. Most in here seem to be espousing a safer term deposit/savings account and not try and get 'greedy' with riskier investments.

Thing is though, for every Brunell, there's another 3-year-career former NFL player who now runs a successful investment banking business or accountancy or whatever that we never hear about. So I'm not sure if it's the culture of flashy spending in the big leagues or poor education for new rookies. In the end I still think it's on the individual to take particular care with their money. Given Brunell's position, it's probably rather easier than most to earn some money again, either from playing or coaching, than your average Joe Blow who must contend with hundreds for menial jobs or whatever the case may be.

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So how are we to know what kind of investment Brunell invested into and how risky it was? Like djcubez said.. don't invest if you can't live without that money. The risk that was taken here was apparently Mark invested too much. That's his fault, and hopefully he'll learn.

It's not about getting 'greedy' with riskier investments.. it's about maintaining the quality of life. Of course, I'm assuming that was his goal with his lost investment.

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A term deposit or savings account is still an investment, even if they're not thought of as such by most people. You're right, we don't know what he invested in or how risky it was, but I'm willing to bet it was riskier than either of those suggestions. I think it's semantics to say he wasn't greedy but wanted to maintain a standard of living; the point was that he still wanted more money that what could have been provided by stuffing the whole thing into a savings account.

In any case, he's bankrupt, but still in a far better position than most others who are bankrupt, anyway. So I can't say I feel too sorry for him.

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I have to chuckle reading these type of posts.

Amount of money has nothing to do with it. its all about allocation, diversification, and percentages.

Many of these guys deal with friends or referrals from friends. Well meaning, but not good at what they do. put them in poor allocations, high risk (can you spell restaurant or bar?). Or the spend too much from the get go. There are also many athletes who are smart with their money and have lived within their means and will do fine the rest of their lives...( the dumb hillbilly in Mississippi?)

I do this for a profession. People of all income levels live within their means, live above their means, invest wisely, or poorly, listen to an expert (me) or a well meaning but poor advisor (brother in law, son, daughter, parent).

reality is your investments should match your goals. You need to know the risks associated with each investment and have an overall strategy...then make sure your individual investments meet that criteria.

As far as taking care of your own money, at the level they are, it is like a small corporation. too big and too many transactions for one person. Where they fail is they do not have proper checks and balances implemented. They usually haved a buddy take care of their financial stucc (car payment, CC payment, house(s) expendetures, etc. These guys arent professionals just trusted friends....

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by the way, putting all your money in the bank is what I call "losing your money, safely".

Currently a million in a savings account would earn about .05% or $5,000 a year. Inflation is almost 3%. So the purchase power of that million has dropped a net of $25,000 over that year. So to keep it safe, he can no longer buy what he could have when he put the money in!

Safety too, has a risk.

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You guys are offered 0.05% interest on a savings account? Jesus.

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What a shame...part of the shame is that you and I will have to make up that other 20 mill...

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