Boxers who retired and are STILL wealthy?

I read Calzaghe invested in holiday rental properties in Bulgaria, Egypt and Turkey exactly at the market peak in 2006/2007. He probably lost 50% on those investments if not much more.

I doubt he put all money into this business though, hopefully only a small amount of his total net worth.

 

Considering how big of a gambler Floyd is, it might be possible he'd be broke after just five years after retirement. :good

 

Nigel Benn did alright.

 

Nah he wasn't wealthy after retirement. He wasn't even able to provide for himself until he was able to market his image off of the court case win.

 

Rustico Torrecampo

 

Not to hijack the thread with a protracted financial discussion, but I'll just make a couple of points:

1. Only one type of annunity actually pays you. Most of them keep your money for a set period of time in which you can't touch it without a MASSIVE penalty. It will accumulate interest, which you also can't touch, over the set period. Only Immediate Annuities will directly pay you interest.

2. You'll never in your life find an Immediate Annuity that offers a 7% rate unless you set one up at 90 years old. They average about 1-3%, and the younger you are (e.g. boxer retired at 40), the lower your payment will be. If you're a healthy retired boxer who is 40 years old with a million dollars cash and you want to get a lifetime Immediate Annuity, you'll be lucky if you get 1% interest per year. Most of them also have a clause that basically turns over the cash to them. That means if you get an immediate annuity for $1 million at 40 and die at 41, too bad, it's their million now.

If you have a million dollars to your name, about the WORST thing you can do it put it all into an annuity.

 

did george foreman really make 600 million from that grill? wow.

 

ike quartey is richer now than when he was boxing, heard he's in the tile business. ray mancini has done pretty well. oleg maskaev i heard got into real estate but i don't know how he's doing with real esate in this economy. i believe he relocated from ny to sacramento.

 

Oscar Dela Hoya " The GoldenBoy "

 

Prince Naseem is still a rich man

 

:deal

 

Larry Holmes
George Foreman
Ali (Sold his name to Joos 4 $50M)
Ray Leonard
Lennox Lewis
Oscar Dela Hoya
Soon: Bernard Hopkins

 

Ali is still rich?

 

Larry Holmes....owns half his hometown of Easton

 

Henry Maske. Owns and operates half a dozen McDonald's franchise restaurants in Germany.