₦airaland Forum

This season Arsenal be like

I know this is old but just a friendly reminder and a story worth sharing over again...

Former NBA player, Antoine Walker, 38, earned over $110 million throughout his NBA career, more than four times the average player in the league. All that money, though, didn’t stop this All-Star from going broke.

Walker’s financial problems began his first year in the league as a 19-year-old rookie with the Boston Celtics in 1996. Although he had a financial advisor help him establish a plan for his long-term finances, Walker had other ideas about what he wanted to do with his newfound wealth.

“Through my young arrogance, being ignorant to a degree and being stubborn and wanting to do my own thing with my money, I went against a lot of his wishes,” Walker told Yahoo Finance.

Dunking into debt

Growing up as the oldest of six, Walker helped his mother raise his siblings as she struggled to provide for her family. Once Walker made it to the league, he was set on providing for his family and it didn’t take long before he blew through his rookie salary.

“I never really thought about the severity that I put myself through after just the first year of the league, but I didn’t really worry about it because the money was constantly coming in,” said Walker. “

He quickly acquired a taste for the finer things and upgraded his entire family to live in multi-million dollar homes that he built from the ground up. His driveways were filled with four to five luxury cars -- from Bentleys and BMWs, to his prized $350,000 Maybach. And as one of the most fashionable ballers, Walker never wore the same designer suit twice.

His generosity extended beyond his family to his many friends and acquaintances. From lavish all-expenses-paid trips to luxury gifts for his friends, Walker made sure everyone in his circle enjoyed the lifestyle he led. With his fellow NBA players, Walker gambled extensively – losing $646,900 in just two years.

Even as his spending spiraled out of control, Walker had a plan to put his income to work and bought more than 140 properties along the South Side of Chicago. Whether it was land to build on or commercial and income properties, Walker had a full-range of real estate investments meant to maintain the lifestyle he had built for his family after retiring from the league.

With the housing bubble and bust, Walker found himself defaulting on loans where he was the personal guarantor, losing value on land, and failed to get a handle on the legal issues that followed.

Looking back, Walker says he regrets making significant investing decisions before retiring from the league. With his attention focused on his NBA career -- in full swing at the time -- he didn't have time to keep a close eye on his investment properties, and like many others, was caught off-guard by real estate crash.

“I think there were different ways of how I could have saved the bulk of my wealth. I could have been on top of it. I missed a lot of court dates, a lot of default judgments, there’s a lot of properties I could have kept that I thought were good investments,” Walker said.

Hitting rock bottom in 2010, Walker declared bankruptcy, citing $12.74 million in liabilities with $4.28 million in assets. The entire bankruptcy process was drawn out over two years. Stripped of his credit cards and his bank accounts frozen, it was heartbreaking for Walker to liquidate many of his priceless possessions, including his NBA championship ring his team, Miami Heat, won in 2006.


Bouncing back from bankruptcy

Discharged from his debt in 2012, Walker has since downsized every aspect of his life. He now lives in the one home that he still owns with five of his family members in downtown Chicago. And none of the cars sitting in his driveway belong to Walker himself. If he’s in need of a ride, he goes with family or uses Uber.

Now a basketball analyst for 120 Sports, a digital sports network, and regular sports signings and speaking engagements, Walker is working on building up his life again and hopes to make a difference by helping others avoid the same financial pitfalls.

Focusing on the importance of financial literacy, Walker is scheduled to release a documentary and book, Gone In An Instant, early next year in hopes that people will learn from his mistakes.

When asked what his #1 piece of advice would be to young NBA players today, Walked said, “Get the word ‘No’ in your vocabulary. You’re going to have to say no to a lot of people that are very important to you. Stick to your financial plan and don’t invest until you’re done with your career when you’re able to be hands-on.”

For himself, Walker aspires to build up his savings and one day retire. “I’m looking more now for a quality of life. Being able to take care of my kids and being able to take care of my grandkids one day,” said Walker.

https://www.youtube.com/watch?v=oNaw2bk39jY

http://finance.yahoo.com/news/former-nba-star-antoine-walker--life-after-losing--110-million-214644672.html

"Go where the money is... and go there often."

spotmataz:
I run an online business and I also help others to set up.

A lot of people want to make money online but they are not doing it the right way.

Setting up a website, an auto responder to build a list and setting up an advertising channel and a few more things you can call " laying a foundation" are essentials to online success.

When setting up, I normally spend a lot of time online but after a bit more stability, time spent online could reduce.

Generally, it's a rewarding experience for me.
You can check signature if you want to know more about what I do and how to be a part of it.

Good concept but after going through your site I thought there are loads of things you could improve on there. To be honest that site is a turn-off for me, here are my observation:

First, there is no clue to exactly what you're offering. What problems is service/product addressing?
Secondly, I feel the figure you stated are a bit over stated try to be real
Also you might want to tweak your design a little bit, its appalling to the eyes
Lastly since the benefits of your service/reward is in ₦ term why use a background picture that is in $.

I hope this helps.

As clearly stated on the title, entrepreneurs and business owners on nairaland;

What kind of business do you own and run?
How is your typical day like?
What are your challenges and success?
What are your resources?

Please share, you might just be encouraging and motivating someone.

Oh dear! Wait o, you mean they caught him with live bomb and they weren't scared that the bomb might have exploded?

Well, that's bravery.

Wow! this is so touching.

OP, please can you post a sketch of what you want and let me see if I can make up something cool for you? If you don't have an idea of what you want that's normal, just drop the name of your brand and what you're into. We can start from there.

Goodluck

Great thread! I have been investing in mutual fund for over 5 years now. Mutual fund made me to start learning about investment in general. At the moment, while I still invest in mutual as part of my diversification strategy, I do more of stocks.

I invest with ARM mutual fund and they've been wonderful. They pay yearly dividends, and the ROI is quite encouraging based on the instruments. Currently I only have stake in their ARM AGF and Discovery fund instruments which I prefer the AGF because its more exposed to equities and that's cool for me and fits my strategy.

It will be interesting to note that mutual funds are very much good for longterm investment. If you're investing for the short term, this financial vehicle is not suitable for you I'm afraid.

Attached is a factsheet which I believe could help those that would be interested in starting up a mutual fund investment.

http://www.arminvestmentcenter.com/individual-investors/products-and-services/compare-our-mutual-funds/

Please do more research about any investment you intend to put your hard earned money.

Thanks

Elai147: Not true bro.



Oga Yem0350, sometimes when you double-click on a stock you wish to trade on, you don't find bids/offers. Why? Morgan really need to work on their iTrade platform. I was unable to trade a stock this morning because there was no offer/bid displayed when I double-clicked on the stock. I had to place the order with Meristem and it got executed within a sec. If you fill the Buy/Sell order form, nothing happens except you follow up with a call. I don't understand why a client must place a follow up call before Morgan can execute an order. It is supposed to be an automated process. Sometimes, even if you do a follow up, orders still don't get executed. This does not happen with Meritrade. I really don't know what else to say. I have now resorted to using Morgan iTrade to know the current prices of stocks and placing my orders with Meritrade. What an inconvenient way to trade, thanks to Morgan Capital. I really don't know what is so fantastic about Morgan iTrade. It needs to be worked on.

Just wondering why you should fill order form when you could go straight to the real-time section and place your order directly to the exchange. That's what I do most times, I never follow up with any call and my orders are executed within few minutes. I only fill the order form when the market is close and probably wouldn't be around during trading hours.

Based on personal experience, my candid advice for you is to invest your money in a safer, low risk, diversified and well balanced investment like mutual funds. There are couple of them out there like the IBTC, ARM, FBN etc.
The good thing about mutual funds is that your money is managed by seasoned professional fund managers by investing in shares, bonds and real estate. In no distant time you'll come to appreciate the power of compound interest. No wonder it is often refers to as the 8th wonder of the world.

You can take a cull from my experience, when I graduated from the uni, I had this passion for investing and with the little savings (20K) I had then I invested in one of the mutual funds around. After some few years I decided to check the worth of my investment, to my surprised the total worth then was more than triple of my initial investment.

My passion for investment was rekindled again, I started learning more about investment generally and decided to build that investment. I set up a DD (direct debit) with a token from my monthly salary into that fund and started learning more about investment in shares. Right now that investment alone is worth over 2m and I'm doing more of shares on my own.
It's exciting and fun, though it involves loads of hard-work in learning, patience, dedication and commitment. You can start small and grow, with those qualities, you'll become confident and and more experience.
It's good to see that you have a small business that you're doing, think and strategize on how you can grow and expand your business. Read and learn, sometimes, things wouldn't go well but that's how you'll get to learn and become experienced in the game.

I hope this helps, once more I welcome you to the world of endless possibilities.

Cheers!

currentprice: FBNH refuse to fall further

Don't worry just chill, let's get to the usual destination @16, and offload we'll come back to pick you guys again. The bus route wouldn't change at least for now.

willwin: How good (speed, quality of service etc ) is Morgan capital iTrade executing trades?

Second to none atleast for now.

myjoy08: Oando Energy Resources New Websites...

http://www.oandoenergyresources.com/

How does that affect the price of Oando shares?

.

It looks like everything is down today

Buying stocks is easy. Investing in stocks is not

#Signature

Chibuking81: As Oando move down south, where will be the final bus stop, before moving up North again?

How I wish people know the answer to your question. Many people should have been billionaire today. That's one of the most difficult questions in stock investing. The market has a mind of its own. I would advice you have a plan and stick to it.

bigass: ^^^^
You dont post this here in a bearish season and expect favourable replies

4dchairman: The timing of the result is strategic, the storm before the rush.

Do you mean the release of result and the deal sealing? Again for me, what I foresee is releasing the result (I hope is not what I'm thinking) then comes the storm and thereafter the deal sealing which activates the rush. This might be a real strategic move by the cowboys themselves.

I'm just thinking aloud sha.

Again #wetinIsabi

Knowing when to do nothing is a big part of successful investing. Me I just they observe the market for now. Based on my observation and recent happenings, I don't see the Oxygen boys closing this COP deal as anticipated by the end of this month.

#wetinIsabi

Ess: Hello house,

I want to open a CSCS account but it seems there is no option to pay online on their website. I hope I don't have to get a teller from a bank?

Got this on CSCS website:

To register for your online access, kindly pay the required subscription fee (you can pay for up to five years in advance). The fee depends on your user type and may be paid online (debit card), through internet banking (online transfer) or cash at

GTBank (Account Number - 0002925874) or UBA (Account Number - 1006864216).

Account Name is CSCS PLC.

To pay through the bank, kindly visit any branch of GTBank or UBA, make your payment (GTBank may require you to supply your username, email and CHN or Member Code).

Enter all required information, your username ( should be one word in small letter only), CSCS Number (CHN) or Member Code (in capital letters only), deposit slip (teller) number (remove leading zeros/alphabets if any) or cheque number (if you deposited cheque) respectively in the textboxes below and click on "Continue". If you pay through internet banking (online transfer) to any of our accounts, just mail the payment details to us (info@cscsnigeriaplc.com) or call us - +23419033552,+23419033553,+23414601902 and +23414601903. We will confirm your payment and activate your account or give you reference number with which you can complete your renewal. Kindly include your CHN or Username as part of your remarks when paying for easier identification of your internet payment.

You can do online transfer to the above account and do them a mail stating your details (CHN, username) and your account will be set up immediately. I did mine recently and just withing few hours my account was set up.

I hope this helps.

Oh yeah! It's good to be back home after my account was wiped out by this so called hackers. BNSITL, I thank you all for your great work in keeping this house alive after the seemingly challenges faced by nairaland recently. Your effort shall be rewarded with green portfolio throughout the second half of the year and may your dividends know no bounds.

I welcome you all to the world of endless opportunities (investing).

Keep on the good work.

kennyone: Forget about the oxford thing unless your tuition fee is not more than 20,000 pounds. That is the highest NITDA will pay for your tuition. And as regards the maintenance allowance, think NITDA has the best in the country so far. it is 10,200 pounds per year.

On the bold, not necessary truly, PTDF is by far the best till date. To everyone that are still hopeful, I'll say just keep believing and never lose faith.

What a great player he is. Suarez