Is he Bipolar?
That could definitely do it. I have a close relative who's bipolar and got into massive financial problems during manic episodes.
Doing something like buying $1 million in reptiles doesn't sound unrealistic when you've experienced the condition.
He did come out a while ago as bi-polar.
I have also seen what you described happen. It is actually the case with a lot of people who seem to be "bad with money" or make poor financial decisions, that they are suffering with some kind of mental disorder. It's one of the reasons I try not to judge people when it happens.
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If you have ESPN or other means it's a good watch. Pro athletes are often morons when it comes to money. Mix in some mental issues and this isn't surprising.
Many people that declare bankruptcy have the wherewithal to create wealth all over again so it creates a misperception that bankruptcy does not equal broke.
Not to mention there is quite a difference between personal bankruptcy and a corporation of which you are a shareholder going into bankruptcy.
If I had the life skills I did when I was a teen AND 40 mil career earnings I couldn't have possibly ####ed it up that bad. To bad so sad Lehner. Get the help you need and I hope you do, but you're a special level of stupid
Well I guess my point is, a lot of these guys are not well-educated unfortunately and they may have skipped math class to go to skating practice
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these things always amaze me. Even if you account for taxes, agents and so on, he's probably made $20m net in his career. How do you burn $20m that quickly? Even with a drug addiction and a weird love for reptiles, that's a hell of an achievement.
Many people that declare bankruptcy have the wherewithal to create wealth all over again so it creates a misperception that bankruptcy does not equal broke.
Not to mention there is quite a difference between personal bankruptcy and a corporation of which you are a shareholder going into bankruptcy.
Well, I think everyone here knows that bankruptcy is a formal proceeding with certain entry requirements. Which happen to include being insolvent by either not being able to meet your liabilities generally as they come due or having fewer assets than liabilities (which sounds a lot like broke).
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these things always amaze me. Even if you account for taxes, agents and so on, he's probably made $20m net in his career. How do you burn $20m that quickly? Even with a drug addiction and a weird love for reptiles, that's a hell of an achievement.
If you have ESPN or other means it's a good watch. Pro athletes are often morons when it comes to money. Mix in some mental issues and this isn't surprising.
I mean not to overgeneralize or anything - a lot of times their poor judgment that leads to their financial crisis has a lot to do with their judgment of people's character, the people they surround themselves with, or others preying on them. Not always just moronic head trauma.
these things always amaze me. Even if you account for taxes, agents and so on, he's probably made $20m net in his career. How do you burn $20m that quickly? Even with a drug addiction and a weird love for reptiles, that's a hell of an achievement.
I think I could manage it. You got $20M you could 'loan' me?
Thats the thing, $20M assuming zero income for the rest of your life? At 31?
You could do it, but it wouldnt necessarily keep you in the lifestyle of the 'Rich and Famous' if thats what you're accustomed to. If you think that $20M has to provide a house, a car, kids' educations and keep you going for 40 more years?
Its not 'Reptile Zoo' money or anything tho...
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Originally Posted by Finger Cookin
I mean not to overgeneralize or anything - a lot of times their poor judgment that leads to their financial crisis has a lot to do with their judgment of people's character, the people they surround themselves with, or others preying on them. Not always just moronic head trauma.
There are lots of reasons and its difficult to understand them all because it varies widely by the person.
You're not wrong, character, entourage and FAMILY. So many athletes get bled dry by their families. Sometimes out of their own good and gracious nature like buying their mom a house or paying off parents' debts and sometimes by sheer mismanagement and grift.
Look at Jack Johnson. His parents essentially robbed him blind. If you cant trust them then yeah, you're going to have trust issues with everybody.
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$20M worth of income with $0 prospects at age 31. He probably wasnt frugal with those earnings because his career was sidelined by the unexpected.
He probably couldnt plan or budget for mental health issues and likely was anticipating playing out his contract and probably getting another one afterwards, that contract expires when he's 33, maybe one more NHL contract and then who knows, maybe play out a few years in Sweden?
You cant financially plan for a career-ending injury which is why players take big contracts when they can get them because anything can happen.
And thats with Hockey players, one of the few sports that has Guaranteed contracts.
NHL contracts are GOLD within sports. I dont think any other major sport has such iron-clad contracts.
I guess in the end I'm just saying that I do have some sympathy for him, they're still humans, albeit high-earning ones, and they have to deal with the same BS that life throws at the rest of us peasants.
For athletes it just happens at lightning speed, they have to plan and budget for the rest of their lives at 18-20, everything happens faster, sooner and bigger and they have more 'Hungry, Hungry Hippos' chomping on their paycheques than the average plebian.
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I certainly have sympathy for him, as you point out many young athletes are totally unprepared for the wealth coming their way.
But there are a whole lot of people in this world who have little money and very limited prospects for earning. It’s too bad he blew through what he had, but now he’s in the same boat as millions of others. Except he probably still has access to employment opportunities that many of those people don’t, it just won’t be for the money he is used to. Hell if he hired a good speech writer and reputable agent, he can undoubtedly make himself some money just telling his story.
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I think if I ever came into a lot of money I'd have $2 million irretrievably locked away. It would pay out a reasonable amount of interest every year, but until I hit 75 I couldn't touch the 2 mill. It'd allow you to live a decent life even if you manage to burn everything else to the ground.
I think if I ever came into a lot of money I'd have $2 million irretrievably locked away. It would pay out a reasonable amount of interest every year, but until I hit 75 I couldn't touch the 2 mill. It'd allow you to live a decent life even if you manage to burn everything else to the ground.
Yeah, but you're making that statement in hindsight with the knowledge and life experience you have now. You're probably what, nearly a solid decade older than Lehner?
What would you have done at 20 if you didnt know that your last paycheque would potentially be when you're 33 and that your skills were essentially non-transferable?
I'm sure if Lehner won a lottery tomorrow his financial decisions with that money would be very different than if he'd won the same lottery 5-10 years ago.
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Being bipolar myself, the issue with money and mania is that you when you're manic, you just don't worry about money.
It's not that you couldn't understand that you're doing something stupid when you're doing it, if you stopped to think about it, but to make a considered decision your brain has to inform you that "you need to consider this". You can be very smart and educated, but if your brain just never gives you that signal that "you should consider this", then it doesn't much matter that you're theoretically capable of being smart about money.
It's also often hard for other people to tell you no, because bipolar people in their manic phases are often just so energetic and excited about everything that they seem to be just enjoying life at the fullest. It's very hard to say "you shouldn't do that" to someone who just seems very happy doing what he's doing.
Of course some people also just have obviously obsessive behavior. I for example knew a bipolar person who just kept obsessively buying new laptops, and would eventually start hiding them in her apartment in shame.
Now combine that with someone being presumed rich, and nobody blinks an eye when someone spends a million here and a million there, five sportscars and fifty watches just sounds like rich people stuff, so even if you're surrounded by good people no one will think to say anything.
But of course, if you're rich with poor impulse control, you are likely to get swarmed by vultures who not only encourage you to spend like crazy, but actively drive away any "buzzkills" who want to help you reign in your worst impulses.
Bipolarity and gambling is also a terrible combination, there's really no limit to how much money you can spend that way. There's also no limit how bad you can mess up your finances making big impulsive decisions in the financial markets. No matter how much money you have, if you bet it all you can lose it all.
My bipolarity is pretty mild relatively speaking, my dumb impulse decisions aren't that expensive, and I've always been surrounded by good people, but it's still very obvious that bipolarity has hurt my personal finances quite a bit. 'Cause no matter how careful and smart you are otherwise, there's just no way to take back the crazy things you did when you were feeling like you didn't have to think about money.
Last edited by Itse; 01-15-2023 at 03:54 PM.
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