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How do you let this happen?

Beantown

Beantown

Well-Known Member
This beautiful specimen of a man made 20 million dollars during his horrible NBA career.

robert-swift-elite-daily.jpg



He got foreclosed on in a $1.36 million dollar house. How in the hell did that happen? Why in the hell would he have a mortgage if he made that much money?


Dave Ramsey should beat his ***.


The best part is he is refusing to leave his home!!

https://www.yardbarker.com/nba/articles/msn/robert_swift_refuses_to_leave_house_after_bank_forecloses_sells_to_new_owner_video/12975718?refmod=msn_art_top&ref_art_id=12989062
 

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Played against him in HS, he was ok, just really really big. Our own 7 footer actually held his own against him. He was weird, and really mean, like tried to elbow you in the face constantly. Not surprised he never made it or that he turned into a psycho.
 
Hartsock said:
Played against him in HS, he was ok, just really really big. Our own 7 footer actually held his own against him. He was weird, and really mean, like tried to elbow you in the face constantly. Not surprised he never made it or that he turned into a psycho.
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He seems like a douche, I love how when they knocked on his door is GF said he was asleep after taking some pills. The dude seems like a winner.
 
The 27-year-old made $20 million during his career and purchased the house for $1.35 million in 2006.
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Nice timing on the house buy. Right when the market peaked. When that house is 1.35 million in any place in the world, you know you are living in a bubble or your country's currency is trash. Love the car choices too. You could guess he's from Bakersfield just by driving by his house in Seattle....even if you didn't already know he's from Bakersfield.

Is that 20 Mill after or before taxes though? He's still a total incompetent with money either way(welcome to the world of athletes) probably, but it is possible he was simply banking on having more years of basketball ahead. Didn't he have injury issues?
 
HeavenHarris said:
per basketballreference, he made just a shade over $11.4M over his 5 year NBA career, not $20M.
his page is also encouraging people to donate money to him, lol, because "Sure basketball players make a lot of money, but they spend a lot of money"

https://www.basketball-reference.com/players/s/swiftro01.html
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So he realistically only had 5 or 6 mill after taxes probably if those numbers are correct.

Edit: Washington doesn't have an income tax(Surprisingly - I thought they would be up there with the ridiculous Oregon tax rate) apparently so we'll give him more like 8 million.
 
i doubt he ever had that much in the bank at one time tho, that's over a span of many years, and the second you become an NBA player...you and everyone you know start spending ur money. I think the dude is an idiot and mismanaged his money for sure, but it's somewhat understandable and happens to a TON of players. I read somewhere something like 50% go bankrupt within 5 years or something of being out of the league. dont quote me on that but it was something similar. guess thats one of the pitfalls of getting paid millions to bounce a ball. easy money in, easy money out.
 
HeavenHarris said:
i doubt he ever had that much in the bank at one time tho, that's over a span of many years, and the second you become an NBA player...you and everyone you know start spending ur money. I think the dude is an idiot and mismanaged his money for sure, but it's somewhat understandable and happens to a TON of players. I read somewhere something like 50% go bankrupt within 5 years or something of being out of the league. dont quote me on that but it was something similar. guess thats one of the pitfalls of getting paid millions to bounce a ball. easy money in, easy money out.
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True, but there are many well off successful people that will never make 11 Million dollars in their lifetime. Even if he had just a few million in the bank he could have lived off the interest and never had to work a day in his life.
 
i doubt he ever had even $1M just sitting in the bank at any given time. He was probably in debt from the very start, or sometime early in his career, or living paycheck to paycheck pretty often.
But ya, he screwed up big time.
 
Beantown said:
Even if he had just a few million in the bank he could have lived off the interest and never had to work a day in his life.
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Not in the current interest rate environment. But yeah, I think every professional athlete should find somebody that understands money better than themselves to help them manage it. Preferably somebody that isn't a family member or a friend.
 
Ty the Turd said:
Bernie Madoff?
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Bernie's good, but I like originals that promise even more than Bernie. Dig up Charles Ponzi's corpse, throw a couple mill in by him, bury him again. Then during the next full moon you take a dead cat to the graveyard, swing it over your shoulder while standing on Ponzi's grave, and that bounds Ponzi's spirit to his earthly promise to give anyone 50% on your money in 45 days when you dig him back up again. Repeat until you're a Trillionaire.
 
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HeavenHarris said:
per basketballreference, he made just a shade over $11.4M over his 5 year NBA career, not $20M.
his page is also encouraging people to donate money to him, lol, because "Sure basketball players make a lot of money, but they spend a lot of money"

https://www.basketball-reference.com/players/s/swiftro01.html
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the video in the link says he played in Japan for a while - probably got a few nice pay days there. The one year he played semi regularly for Seattle I thought he was actually pretty decent - not a lottery pick talent; but could have been an OK back-up. Just couldn't stay healthy.

There is a sign on his front door that says "when in doubt, empty the magazine"....this may not end very nicely.
 
Duck Rodgers said:
So he realistically only had 5 or 6 mill after taxes probably if those numbers are correct.

Edit: Washington doesn't have an income tax(Surprisingly - I thought they would be up there with the ridiculous Oregon tax rate) apparently so we'll give him more like 8 million.
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Athletes still have to pay some sort of entertainer tax in many states. Regardless though, it's a safe assumption that Swift was irresponsible with his money.
 
Duck Rodgers said:
When that house is 1.35 million in any place in the world, you know you are living in a bubble or your country's currency is trash.
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Equating currency as a whole to an asset bubble was your first mistake. And by trash, what you really mean is something that is about to skyrocket in value as debt destruction makes it rare. Sorry, but I couldn't help myself. :)

Duck Rodgers said:
Edit: Washington doesn't have an income tax(Surprisingly - I thought they would be up there with the ridiculous Oregon tax rate) apparently so we'll give him more like 8 million.
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See Allen Iverson's story. Dude has lost houses and is still worth plenty of millions. He had one good friend in his possy, and a players union looking out for his [short lived] pension.
 
There's Robert Swift, and then there is Klay Thompson:

https://bleacherreport.com/articles...chal-takes-away-allowance-for-fight?hpt=hp_t3


Thompson explains how he punished Klay for fighting during the Warriors-Pacers game on Tuesday night. The NBA fined Klay $35,000, and his father docked him his allowance. Still no word on whether a time-out will be necessary.
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The 23-year-old doesn’t have access to his money, all cheques are paid to Mychal and Julie who take care of his accounts for him to make sure Klay’s financial situation is set up for his post NBA career. So, naturally, Papa Thompson’s going to teach Klay a lesson of his own by fining him personally also, however Klay will find out the old fashioned way.

“He will [find out he's been fined by us] when he sees that cash envelope show up a little short this week,” he said.
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Tats and drugs...the money goes fast.
And being that ugly, you know any woman is just with him because he's giving her drugs and spending $.
 
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