How Marshon Lattimore Spent His First $1M in the NFL? (1 Viewer)

[jasonsw]

Surprisingly wholesome.

My take from this is i wish i was Lattimores momma and Andrus Peats Uncle

 

[OutlawSaint]

So many very wealthy people operate on the surface as if they’re middle/lower class in income. One of my best friends growing up would always take my hand-me-downs, so I thought he was kind of poor as a kid. In high school I learned his mom was actually CFO of a large bank, and in reality they probably had more money than anyone I know. She just didn’t believe in spending money on anything she didn’t have to. To this day she treats herself with Milwaukee’s Best and shops at Save-A-Lot. We’re talking a multi-multi millionaire here. Blew my mind. But as I’ve gotten older I’ve actually tried to be more and more like her.

Also reminds me of this story I read about Kawhi Leonard a couple of years ago. He was like 4 years into a huge contract but was still driving a 1993 Chevy Tahoe and living in a single bedroom apartment. A lot of these athletes make just truly insane amounts of money, and even if they can just act semi-responsibly they can seriously create generational wealth for their family. Easier said than done though, unfortunately!

I'm honestly really simple too though. I have a 4 bedroom house and rent out 3 of the rooms to college athletes and their rent pays my mortgage note each month. My bedroom also consists of only a full size bed and a night stand along with two dog kennels for my dogs. I spend most of my time in one of the living rooms working at my desk editing photos and videos while watching sports. I'll maybe get an actual nice bedroom set up the day I decide not to have roommates paying the house note for me lol

 

[pierce2poydras]

There ought to be a balance between saving, spending and giving. Accumulating money just for the sake of accumulating money does not seem to have much utility in my mind (not saying that's what your friend's mother was doing @pierce2poydras ).

Money is only good for what it can do - for you or for others. So, while I'm a very big fan of living within your means and saving up, there should be some sort of purpose for it. Trying to hit X goal so that I can buy Y thing and have long term security. Or, hit goal X so that I can have a Y annuity for the rest of my life.

And all that needs to be balanced with not being miserable now. I'm not sure it's a great trade-off to living uncomfortably for 45 years just so you can be rich your last 10 years, although that's a value judgement.

I just want to add a little nuance to the generally good advice of living below your means and saving your money.

I actually totally agree about balance. Some people, for whatever reason, just don't have desire to buy things. I'm not one of those people. Of course, it's the easiest thing in the world to think about how you'd handle money you don't have. Once you actually have it though- I'm sure it's a totally different story. I'd love to get an unexpected windfall and see how it actually plays out though!

 

[woohoosaint]

Hope he goes the way of Marques Colston with his money.

 

[Maik Jeaunz]

I remember when I spent my first million. then I woke up. ZING!

 

[Complex Kid]

I remember when I spent my first million. then I woke up. ZING!

I'm sure some of us have spent our first million. It just took us over 30 years and not 30 minutes like these guys

 

[Madmarsha]

Just to be sure, spending a full $1 million on a Saints party wouldn't be squandering it, would it?

Didn't think so.

 

[ANKOMA33]

"I was from the same place Ted Ginn Jr is from, like I went to the same High School Glenville but he's way older than me ".

Damn Latt lol.

 

[DaveXA]

Just to be sure, spending a full $1 million on a Saints party wouldn't be squandering it, would it?

Didn't think so.

Yeah, the first million out of what would effectively be $200 million after taxes with the lump sum payment is quite doable. But, I've seen stories of people burning through that much after winning big.

I'd probably live marginally better than now with that kind of money. Only large purchases I'd make would be a house, car upgrade and maybe upgrade my home furniture. That's really about it. I'm actually fairly content with where we are right now.

A trip to Korea to visit my wife's family and see where she grew up would be high on the bucket list too. My kids and I have never been. Always something we've wanted to do as a family.

Edit: I definitely wouldn't quit work either. I'm pretty happy with the job I have.

 

[pierce2poydras]

Just to be sure, spending a full $1 million on a Saints party wouldn't be squandering it, would it?

Didn't think so.

If it’s a Super Bowl party then absolutely not!

 

[Alaina]

He can't say how much of that money he rolled into blunts.

No way would I spend so much money on jewelry and clothes.

 

[breesgirl]

You won’t be getting the 90 million contract eating $1 menu fast food

Chad Johnson would like a word.

 

[UncleTrvlingJim]

Edit: I definitely wouldn't quit work either. I'm pretty happy with the job I have.

I also really like my job, however, if I had 300 million dollars after taxes there's no way I'd keep my job. I'd probably keep low key for 6 months to a year after winning trying to figure out what I'd do with my life -- but being a hybrid system integrator/developer/manager is not it. That's literally stupid money. Start a foundation, a business, or something like.

Like I said, I love my job, but give me 300 million dollars, and I'm definitely doing something different. Take a lot more risks.

 

[DaveXA]

I also really like my job, however, if I had 300 million dollars after taxes there's no way I'd keep my job. I'd probably keep low key for 6 months to a year after winning trying to figure out what I'd do with my life -- but being a hybrid system integrator/developer/manager is not it. That's literally stupid money. Start a foundation, a business, or something like.

Like I said, I love my job, but give me 300 million dollars, and I'm definitely doing something different. Take a lot more risks.

I suppose you're right. Maybe start my own business or something. I have thought about franchising before, so that's something to consider. I just want to feel like I'm contributing to a mission. But yeah, I think I'd work for a bit at least until I get a good idea of what I can do with that kind of money.

It's fun to think about, but of course, probably not gonna happen with my luck.

 

[greg8710]

When I win Mega Millions on Friday ($750 million), I'm spending my first million on a big Saints party.

Unfortunately, we have about 30 tickets.
I'm already spending it