We've seen some outrageous financial takes from athletes over the past several months. Carmelo Anthony suggested that $100 million isn't really all that much to live on. Former NFL cornerback Joe Haden explained how a $50 million contract quickly dwindled down to $1 million after paying for multiple houses and cars. C.J. McCollum said a $2 million NBA salary can disappear so fast that he lived off a $12,000 energy drink brand deal.
We need a voice of reason to talk some sense here. Enter Milwaukee Bucks forward Kyle Kuzma.
Kuzma called out these recent statements, calling them "exhausting." He said the real problem with athletes "isn't the system, it's lifestyle creep."
Kevin C. Cox/Getty Images
Here's his full quote: "Ngl it's exhausting hearing athletes break down how their millions 'aren't really millions' after taxes and fees. 40M after taxes is still 40M. The real issue isn't the system, it's lifestyle creep. Nobody told you to live like a king, buy 5 cars, or move with a 10‑person entourage. Modest is allowed."
Additionally, Kuzma responded to another user expressing how the rest of the population also has to pay taxes and cover expenses.
"And they say it like they are going to get empathy from regular folks that are using credit rewards points for groceries right now," he said. "Wild."
That's what's been perhaps the most vexing part of these other athletes' monologues. In Haden's case, he bought his parents a home and cars for his brothers, plus multiple cars for himself. McCollum said he lost up to $1.25 million of that $2 million in taxes, plus another 4% in agency fees and 15% in "marketing." (Side note, isn't one of the goals of marketing to make more money?)
Meanwhile, Anthony said an athlete can lose up to 60% of their contract in taxes, suggesting that $100 million over five years is really more like $5 million. That math already does not add up, but Anthony then said you have to "live" on that $5 million. That means doing things like getting a house, taking care of your mom, and agency fees. And suddenly, much of that money is gone.
Nobody's faulting these athletes for doing nice things for their families. That's noble that they want to help, and it's excellent that they have the means to do so.
But Kuzma's second tweet especially rings true. There are plenty of people around the world with a lot less money who are barely making ends meet. To hear a "woe is me" type of tale from an athlete feels more out of touch than inspiring better financial practices.
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