Felix Trinidad Reportedly Broke

No they don't. They need to not buy multiple homes, cars, jewelry etc. and just put their money in the bank and keep it there. The main problem is these guys still spend like drunken sailors even after they have retired and have no income anymore. That is the problem. It isn't not having a financial adviser who most the time steal them blind also.

 

Government bond investment used to be safe in the old days, but the times have changed where many countries have collapsed economies. :yep
Think of the poor saps who invested in Ukraine bonds or Israel where inflation has risen over 3000%.
Investing in Canadian bonds I caould see, but Puerto Rico? LOL!

 

Yeah, Trinidad is apparently 27 million dollars in debt with only 9 million dollars to his name.

Fun times.

Average joes struggle and get their furniture removed from their house for debts they are trying to pay off. Trinidad will somehow strike a celebrity deal where he still has millions.

I have no pity for him. Manage your 86 million dollars of career earnings better.

 

the problem with boxing is obvious. The money comes all of a sudden and then not much after, so if they are not ready they just spend it and they are back to square one after. Guys like Hagler and Leonard have to be respected to not losing all thier money. Hearns and Duran spent it all and were backrupt. I wish fighters would realize the big paydays stop coming eventually.

 

wow. this is worst than pac with koncz and arum. balboa lost all his money with uncle paulie. hes got 9 million left and he owes 27 million to debtors. poor tito

 

Not even close, Genius.

Pacquiao is nearly 70 million dollars in debt. Learn how to do SIMPLE arithmetic, Pythagoras.

 

Cheatoe could stand to learn some financial tips from Money.:deal

 

Sounds like Tito is getting ready for a comeback!

 

simple...do not ever trust anyone with your money

 

Sad. :-(

 

This is the very reason why anyone with large sums of money should take classes in finance and investments. That way your depending on yourself, or if you do have someone else doing it for you, it's easier for you to oversee there work and spot any mishaps before it gets out of hand.

 

Read that earlier today, really sad stuff. I hope he won't be forced to return and lose to fighters he would have literally smoked in his prime for money.

 

Up until pretty recently, Puerto Rican bonds have been an attractive investment option. It's not like it's a war torn country or anything like that. It would've been hard to predict the sort of financial crisis the island is currently in now.

 

A bank can only insure a certain amount of money. Furthermore, your rate of return is probably going to be less than inflation, which means you would be effectively losing money every year. To say the only investments are bad investments make no sense. There are plenty of good investment options. Everything comes with a risk though, even putting your money in the bank.

 

Hater. Mayweather keeps nearly "ALL" of his money in a checking account. As ridiculous as that sounds at least he won't be poached by shady advisors.