Robin Lehner is broke

[Northendzone]

With that amount of earnings he could have kept his cash in a chequing account and been in great shape.

Wonder how much those close to him enabled this

[Jacks]

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.

Yes, and a lot of times they go broke because they blow through the money thinking it's never going to end. A lot of times they make really bad investments, sometimes they get robbed by their families. There are lots of reasons but usually it all comes back to bad decision making.

And I never said anything about head trauma, you just made that up.

[Finger Cookin]

I misunderstood what you meant by mental issues. My bad.

[WhiteTiger]

I do struggle with this a bit...but I just can't feel sorry for someone who's had/seen more money than the majority of the human population will never even come close to seeing in a lifetime and pisses it away for whatever reason.

[Traditional_Ale]

Originally Posted by WhiteTiger

I do struggle with this a bit...but I just can't feel sorry for someone who's had/seen more money than the majority of the human population will never even come close to seeing in a lifetime and pisses it away for whatever reason.

Read Itse's post on the last page.

[Geeoff]

Originally Posted by Locke

Math class is not going to help you in terms of life decisions and financial prudence.

Well, it might help you add up if you've bought more exotic reptiles than you can afford

[jayswin]

Originally Posted by Strange Brew

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.

Living with bi-polar disorder he'll actually likely be way behind the bulk of society in terms of living a normal life and earning money. Plus he'll be living with the added demon of being formally rich. It's going to be tough.

As you pointed out, if I were him I'd be all over the story telling for money angle. Could probably make over a grand an engagement at the beginning and then a few hundred in the coming years as he saturates the market for his story. Get a strong team behind him that helps him turn that money into savings and a future, while figuring our what he can do for a long term career during the speaking phase.

[jayswin]

Originally Posted by Fuzz

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 agree with the premise but disagree with the age, depending on how much money you came into, I guess. 75 is an age that many don't live to and many more are dealing with health issues that severely limit living capabilities and therefore enjoyment of life.

If I came into $10mil then sure, definitely keep $2mil in case I blow it all, so that I have a guaranteed retirement in my final decade or so on earth. But if it was like $3-$5mil? I'm not putting more or close to half away for a time when I'm likely dead or not able to enjoy the money.

Like I said, I agree with the premise, but for me it would be more around standard retirement age (55-65), so that if the sum wasn't huge you could enjoy it while you're young, and then become safe and covered when you're in that standard retirement age. 75 is old.

[Jordan!]

Smallest violin of all time

[MrMike]

Originally Posted by jayswin

Living with bi-polar disorder he'll actually likely be way behind the bulk of society in terms of living a normal life and earning money. Plus he'll be living with the added demon of being formally rich. It's going to be tough.

As you pointed out, if I were him I'd be all over the story telling for money angle. Could probably make over a grand an engagement at the beginning and then a few hundred in the coming years as he saturates the market for his story. Get a strong team behind him that helps him turn that money into savings and a future, while figuring our what he can do for a long term career during the speaking phase.

And start writing a book.

[TrentCrimmIndependent]

people tend to regress to the amount of money that they think they should be sitting on

that's why you see lottery winners houdini that **** away in a matter of months or a couple years

if you're not used to seven/eight figures in your bank you'll treat it like an Everest sized bonus and spend accordingly

people who get there gradually rather than overnight learn how to manage money along the way, and thus are much more prudent with spending/allocation of dollars when they arrive, which allows them to sustain it

[CSharp]

I'm wondering if all those snakes that Lehner buys are for keeping the VGK's playoff hopes alive

[TSXCman]

Originally Posted by soreshins

Career earnings >$40m. So just how do you end up in that situation? I feel bad for the guy in some sense but he must have been making some shockingly bad decisions over the years

Snakes.

[TrentCrimmIndependent]

should've taken after Indiana Jones

[getbak]

"I have had it with these mother####ing snakes on my mother####ing credit report!"

[jjgallow]

Anyone else seeing a math problem here with the sbakes being the issue?

[Strange Brew]

Originally Posted by jjgallow

Anyone else seeing a math problem here with the sbakes being the issue?

I'd say it's a signal of someone who doesn't have their finances in order.

[Locke]

Originally Posted by jjgallow

Anyone else seeing a math problem here with the sbakes being the issue?

Originally Posted by Strange Brew

I'd say it's a signal of someone who doesn't have their finances in order.

Yeah, its an indicator. Its a giant Red Flag.

Just for a moment, think of it like this:

Assume that Lehner got to take home, Free and Clear, $20M. Cool?

Now think of basic things. He's made that $20m over his career over 5 teams in 5 different cities. There are housing costs, moving costs, living costs, incidentals, etc. Times 5.

Those add up.

Then there is the $1.2m he paid for snakes and whatnot. Thats a fair chunk of his 'Free and Clear' money after living costs.

On top of which...its a business, it employs 3 people, thats going to cost.

Furthermore animals have this annoying tendency to require being housed and fed.

So what he's effectively done is spent a significant chunk of money for the privilege of acquiring liabilities that are going to cost him even more money in daily operations.

Thats a boat anchor that hits the bottom pretty quickly.

[Yeah_Baby]

Originally Posted by Locke

Yeah, its an indicator. Its a giant Red Flag.

Just for a moment, think of it like this:

Assume that Lehner got to take home, Free and Clear, $20M. Cool?

Now think of basic things. He's made that $20m over his career over 5 teams in 5 different cities. There are housing costs, moving costs, living costs, incidentals, etc. Times 5.

Those add up.

Then there is the $1.2m he paid for snakes and whatnot. Thats a fair chunk of his 'Free and Clear' money after living costs.

On top of which...its a business, it employs 3 people, thats going to cost.

Furthermore animals have this annoying tendency to require being housed and fed.

So what he's effectively done is spent a significant chunk of money for the privilege of acquiring liabilities that are going to cost him even more money in daily operations.

Thats a boat anchor that hits the bottom pretty quickly.

Which makes me wonder, do NHL teams fit the bill for moving folks when they're traded?

[Matata]

This reeks of coke-fueled, Vegas business deals:

"Bro, listen to me, you gotta put your money into assets that make lots of money, like a reptile zoo. Then you declare bankruptcy to clear your debts and get a fresh start and boom, you're just making money hand over fist. Bro, What do you care if your credit is trash? You already made your money and you ain't making money like that again, so you gotta make this count. Everyone's doing it, the biggest companies make no profits and the richest people are always going bankrupt, you want the taxman to think you're poor as possible while you've got it made in the shade. 50 cent did and all the other smart one's are going to do it too. Don't be a idiot bro and buy that reptile zoo before Mayweather does."