How do Holyfield and Tyson both end up broke?

:rofl

 

They start earning the big money and get into bad habits, and when the money isn't coming in as much as before they still have those bad habits. Having a lot of money is not that great as everyone knows. It is good to have a secure life style, but when people get millions and excess, then the bad habits and extravagance happens. If I had millions I would probably go shopping for a huge house with pools and cars and all that also and buy my friends cars and go traveling.

 

were involved with the wrong people and aren't smart...not to hard to figure out

 

What struck me most about the youtube video was that, despite all the talk about Holyfield being loopy, and punchdrunk, is that he sounded sharp. He was clear thinking, with quick replies to all the questions, and didn't slur his speech.

HOW he's not punch drunk I can't imagine, with all the wars he's been through, but the fact is.....and just watch that interview on Youtube.....is that there is nothing wrong with him.

 

The taxes on Holyfield's mansion must be insane.

 

Make it rain *****!!

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Income tax is not 40% in America.... Over here its the opposite...the more you make the more shelters there are for your money...

 

That was a totally different era...star power did not have the appeal or effect that it has today. These guys will always have money...because they will always be able to make Cameo appearances is movies and reality shows.

That alone will be enough to make what most people would consider a great living. I cant believe people they will one day have to work at Wendys. That borderline lunacy...

Take MC Hammer for instance...all that **** happened to him and his house got foreclosed on but he always maintained a 6 figure income. So you could say he went broke but there are lot of normal people that believe they are successful when they make under 200k a year...

With that said...I'm curious what your definition of poor is? Tyson keeps a new BMW, travels all around the world and is taken care of where ever he should decide to go. Does anyone think he is broke now?

Holyfield is still paying over a million dollars a year on child support and property taxes each year. Thats over 100k per month on basically 2 bills. And you really think he is broke?

He speaks for $20-30k at functions...

There are people who work 40 hrs per week for 52 weeks and end up making less than 50k... Who are not even considered poor...Some are considered professionals...?

They(Holy & Tyson) may loose their expensive homes and entourage but will not be poor...they will never see the inside of a bus...or panhandle at a busy intersection...

Lets be realistic...

In fact I will go far enough to say...that they arent any different with there money than 90-95 percent of people. Most people live in a manner that if they didnt make another dollar for 6 months they would be flat out broke... Its just on a different scale...

Unless you have put back a year of your income then you are technically in the same boat. Once the money stops coming you have problems living the same life style...

 

if you choose to get punched in the face for a living, then i am not surprised you make poor financial decisions.

 

floyd is a jackass.

 

You have never had that much money so you don't know anything about the troubles it brings. So since you don't know what your are talking about, why not research it first?

A fighter's announced purse is BEFORE taxes and paying everyone. Taxes take half. Promoters 10-20%.

Then you move on to housing and living expenses. These guy's hands are weapons. They usually need a buffer between them and a-holes. Now a decent security pro is probably no less than 60-80K per year. Then so weirdos aren't driving by the house every five minutes they need a gated community and the big house that is there. A huge house takes anywhere from 20-80K per month just to RUN not counting furniture and such.

Then we go back to the tax man. Every month that money in the bank gains interest... Uncle Sam bites a chunk out of it again as capital gains so another 15-30%, depending on when, DECREASE in wealth per year.

So in a nutshell you MUST rely on experts. Unfortunately most boxer's area of expertise is in the ring not finance. They get seriously taken advantage of in the real world. These men like any expert had to let some parts of their lives slip to become elite competitors. Same as how your Warren Buffet probably couldn't save himself in a fistfight.

 

Real talk!

This is low key racist bashing. I love how they get these examples and they are always from one racial group. Yeah no other athlete of any other nationality has ever gone broke. Especially not boxers.

Why don't they just say what they want to say and get it off of their chest. :verysad

 

For every failed boxer there are boxers with success story. Tyson and Holyfield lost their money from stupidity. Plain and simple. After tax and paying their team both guys still made 8 figure profit.

 

Yes and most lottery winners go broke. It isn't stupidity it is ignorance. People have no idea what to do with that kind of money without specialized training.

If it is that easy to get and keep why aren't you are multi-millionaire? Hell do you have two years of your current salary saved? Compared to many on this planet having the Internet puts you in the top 2%. So obviously you too are seriously "stupid" right?

 

thats pretty much says it all

Holyfield...9 kids from 8 different women...dumb assatsch