Crean says DJ will enter draft

[bartmiller#1]

DJ has stated in one of the articles (in the JS, I believe) that part of his motivation for testing the waters is that he wants to take care of his family. 

From what I've read, he doesn't come from a middle-class family.

Richmond isn't Schaumburg. 

[Sir Lawrence]

DJ has stated in one of the articles (in the JS, I believe) that part of his motivation for testing the waters is that he wants to take care of his family. 

From what I've read, he doesn't come from a middle-class family.

Richmond isn't Schaumburg. 

You've got that right.  In 2005 the median household income for Richmond, IN was $29,800.  For Schaumburg, IL it was $64,828.

Unemployment rate in Richmond is 9.1% vs. 3.1% for Schaumburg.
5.8% of Richmond folk have graduate or professional degrees, vs. 12.3% for Schaumburg.

[RawdogDX]

Ah.  I see.  So all those people in the US making $91k/year don't have houses or kids? uh-huh.

Dude, we can agree to disagree no big deal... but saying that his mom "lives in the ghetto" (can anybody confirm what their living status is?), and "Some going out bling for 5K" is a little stereotypical... it just is.

IF DJ goes pro, he will buy what he needs/wants... whatever that may be (that may or may not include jewelry, clubbing and girlfriend expenses)

Also, I wouldn't expect him to pay for the vehicles with cash, so that will free up some money as well.

The kid is going to make a lot of money, and that's great for him and his family. How he (and they) chose to spend it is up to them.

I can't agree to disagree with you since you don't have a point.  What's your opinion on this?  That's he's going to manage to save more than 25% of his PRE-TAX salary?  My point is that I made up an extremely reasonable budget where he was saving TONS and you told me to "give the kid a break".  And yes, if he was an omish kid going into a sheep herding business i wouldn't assume he was going to spend 5k on any sort of watches, ear rings, rings, or necklaces.  BUt seriously? you don't think he's going to buy himself ONE nice thing?  Who are you and what kind of little bubble are you from.  I'm from a rough neighborhood in chicago, when i was at mu my roommates were EOP kids, i spent half my freshman and sophomore year hanging out around 29th and capital.  Oddly the conversation never once turned to the benefits of diversifying a portfolio and the effects of compound interest on an investment made at age 19 vs 22.  Yet we did spend a lot of time talking about ice, rims, and other things we wanted to buy for ourselves and our family when we were done with school and started making money.  You can call it stereotyping if you want, i call it the application of real world experience, something you seem to lack on this specific topic.  Oh, and if he's investing 100K a year he'll probably be getting an accountant, forgot to budget that one in.

And if he doesn't pay cash for the car then that means he's financing it and he'll end up paying more interest than he's making off the additional money he has in the bank.

[Canned Goods n Ammo]

Ah.  I see.  So all those people in the US making $91k/year don't have houses or kids? uh-huh.

Dude, we can agree to disagree no big deal... but saying that his mom "lives in the ghetto" (can anybody confirm what their living status is?), and "Some going out bling for 5K" is a little stereotypical... it just is.

IF DJ goes pro, he will buy what he needs/wants... whatever that may be (that may or may not include jewelry, clubbing and girlfriend expenses)

Also, I wouldn't expect him to pay for the vehicles with cash, so that will free up some money as well.

The kid is going to make a lot of money, and that's great for him and his family. How he (and they) chose to spend it is up to them.

I can't agree to disagree with you since you don't have a point.  What's your opinion on this?  That's he's going to manage to save more than 25% of his PRE-TAX salary?  My point is that I made up an extremely reasonable budget where he was saving TONS and you told me to "give the kid a break".  And yes, if he was an omish kid going into a sheep herding business i wouldn't assume he was going to spend 5k on any sort of watches, ear rings, rings, or necklaces.  But seriously? you don't think he's going to buy himself ONE nice thing?  Who are you and what kind of little bubble are you from.  I'm from a rough neighborhood in chicago, when i was at mu my roommates were EOP kids, i spent half my freshman and sophomore year hanging out around 29th and capital.  Oddly the conversation never once turned to the benefits of diversifying a portfolio and the effects of compound interest on an investment made at age 19 vs 22.  Yet we did spend a lot of time talking about ice, rims, and other things we wanted to buy for ourselves and our family when we were done with school and started making money.  You can call it stereotyping if you want, i call it the application of real world experience, something you seem to lack on this specific topic.  Oh, and if he's investing 100K a year he'll probably be getting an accountant, forgot to budget that one in.

And if he doesn't pay cash for the car then that means he's financing it and he'll end up paying more interest than he's making off the additional money he has in the bank.

Several things...

#1 you are right that he probably won't be putting a ton of money in the bank, I would never claim that. When a person is young, investing isn't really on the top of the priority list. That's real life. But, when you are making the amount of money that NBA players make, and given their career length... it would be awfully short-sighted to not save.

#2 He will obviously have some "start up" costs for himself and his family ( new house for his mom (based on what others have posted), furniture, vehicle(s), agent, trainer, accountant, etc).  I am not debating those costs either. Those are real life.

#3 Financing the cars obviously makes them cost more, but it will help him remain more liquid for his first few seasons. I don't even want to start debating financing vs. cash because I'm not an accountant. I'm just stating that he will not need $60,000+ his first year to buy vehicles.

#4 This is where we disagree... you stated that he would have $215,000 take home in your original post, and then claimed that James would not have that much money to save because of his "expenses".

I just think it's a big assumption to think that James would be spending $215,000 in his first year... I know he will have expenses... but to think that he will be spending that amount of money is a little crazy.... I'm sure there are guys who have done it... but I just think it's a leap to think that DJ will be one of those guys.

[RawdogDX]

Ah.  I see.  So all those people in the US making $91k/year don't have houses or kids? uh-huh.

Dude, we can agree to disagree no big deal... but saying that his mom "lives in the ghetto" (can anybody confirm what their living status is?), and "Some going out bling for 5K" is a little stereotypical... it just is.

IF DJ goes pro, he will buy what he needs/wants... whatever that may be (that may or may not include jewelry, clubbing and girlfriend expenses)

Also, I wouldn't expect him to pay for the vehicles with cash, so that will free up some money as well.

The kid is going to make a lot of money, and that's great for him and his family. How he (and they) chose to spend it is up to them.

I can't agree to disagree with you since you don't have a point.  What's your opinion on this?  That's he's going to manage to save more than 25% of his PRE-TAX salary?  My point is that I made up an extremely reasonable budget where he was saving TONS and you told me to "give the kid a break".  And yes, if he was an omish kid going into a sheep herding business i wouldn't assume he was going to spend 5k on any sort of watches, ear rings, rings, or necklaces.  But seriously? you don't think he's going to buy himself ONE nice thing?  Who are you and what kind of little bubble are you from.  I'm from a rough neighborhood in chicago, when i was at mu my roommates were EOP kids, i spent half my freshman and sophomore year hanging out around 29th and capital.  Oddly the conversation never once turned to the benefits of diversifying a portfolio and the effects of compound interest on an investment made at age 19 vs 22.  Yet we did spend a lot of time talking about ice, rims, and other things we wanted to buy for ourselves and our family when we were done with school and started making money.  You can call it stereotyping if you want, i call it the application of real world experience, something you seem to lack on this specific topic.  Oh, and if he's investing 100K a year he'll probably be getting an accountant, forgot to budget that one in.

And if he doesn't pay cash for the car then that means he's financing it and he'll end up paying more interest than he's making off the additional money he has in the bank.

Several things...

#1 you are right that he probably won't be putting a ton of money in the bank, I would never claim that. When a person is young, investing isn't really on the top of the priority list. That's real life. But, when you are making the amount of money that NBA players make, and given their career length... it would be awfully short-sighted to not save.

#2 He will obviously have some "start up" costs for himself and his family ( new house for his mom (based on what others have posted), furniture, vehicle(s), agent, trainer, accountant, etc).  I am not debating those costs either. Those are real life.

#3 Financing the cars obviously makes them cost more, but it will help him remain more liquid for his first few seasons. I don't even want to start debating financing vs. cash because I'm not an accountant. I'm just stating that he will not need $60,000+ his first year to buy vehicles.

#4 This is where we disagree... you stated that he would have $215,000 take home in your original post, and then claimed that James would not have that much money to save because of his "expenses".

I just think it's a big assumption to think that James would be spending $215,000 in his first year... I know he will have expenses... but to think that he will be spending that amount of money is a little crazy.... I'm sure there are guys who have done it... but I just think it's a leap to think that DJ will be one of those guys.

I didn't assume that.  I assumed he would be spending at least 115K and saving 100K.  The difference between take home pay and money he was actually budgeting was based on taxes, agents, and anything else that an nba rookie has to pay for before he can start budgeting his living expenses.  (do they need to get a lawyer?  do they pay for any of their trainers they work with before the draft?)
I don't know why you thought that I said that he'd be spending 215.  I thought I put a very clear, itemized budget that added up to 115.

[WashDCWarrior]

yes the top 6 in 2003 was the best top 6 but the overall draft class fell off after that. 

Wasn't #7 Kirk Hinrich?  I wouldn't make the cutoff before him.  Afterall, he's the best white American in the NBA.

[Canned Goods n Ammo]

Ah.  I see.  So all those people in the US making $91k/year don't have houses or kids? uh-huh.

Dude, we can agree to disagree no big deal... but saying that his mom "lives in the ghetto" (can anybody confirm what their living status is?), and "Some going out bling for 5K" is a little stereotypical... it just is.

IF DJ goes pro, he will buy what he needs/wants... whatever that may be (that may or may not include jewelry, clubbing and girlfriend expenses)

Also, I wouldn't expect him to pay for the vehicles with cash, so that will free up some money as well.

The kid is going to make a lot of money, and that's great for him and his family. How he (and they) chose to spend it is up to them.

I can't agree to disagree with you since you don't have a point.  What's your opinion on this?  That's he's going to manage to save more than 25% of his PRE-TAX salary?  My point is that I made up an extremely reasonable budget where he was saving TONS and you told me to "give the kid a break".  And yes, if he was an omish kid going into a sheep herding business i wouldn't assume he was going to spend 5k on any sort of watches, ear rings, rings, or necklaces.  But seriously? you don't think he's going to buy himself ONE nice thing?  Who are you and what kind of little bubble are you from.  I'm from a rough neighborhood in chicago, when i was at mu my roommates were EOP kids, i spent half my freshman and sophomore year hanging out around 29th and capital.  Oddly the conversation never once turned to the benefits of diversifying a portfolio and the effects of compound interest on an investment made at age 19 vs 22.  Yet we did spend a lot of time talking about ice, rims, and other things we wanted to buy for ourselves and our family when we were done with school and started making money.  You can call it stereotyping if you want, i call it the application of real world experience, something you seem to lack on this specific topic.  Oh, and if he's investing 100K a year he'll probably be getting an accountant, forgot to budget that one in.

And if he doesn't pay cash for the car then that means he's financing it and he'll end up paying more interest than he's making off the additional money he has in the bank.

Several things...

#1 you are right that he probably won't be putting a ton of money in the bank, I would never claim that. When a person is young, investing isn't really on the top of the priority list. That's real life. But, when you are making the amount of money that NBA players make, and given their career length... it would be awfully short-sighted to not save.

#2 He will obviously have some "start up" costs for himself and his family ( new house for his mom (based on what others have posted), furniture, vehicle(s), agent, trainer, accountant, etc).  I am not debating those costs either. Those are real life.

#3 Financing the cars obviously makes them cost more, but it will help him remain more liquid for his first few seasons. I don't even want to start debating financing vs. cash because I'm not an accountant. I'm just stating that he will not need $60,000+ his first year to buy vehicles.

#4 This is where we disagree... you stated that he would have $215,000 take home in your original post, and then claimed that James would not have that much money to save because of his "expenses".

I just think it's a big assumption to think that James would be spending $215,000 in his first year... I know he will have expenses... but to think that he will be spending that amount of money is a little crazy.... I'm sure there are guys who have done it... but I just think it's a leap to think that DJ will be one of those guys.

I didn't assume that.  I assumed he would be spending at least 115K and saving 100K.  The difference between take home pay and money he was actually budgeting was based on taxes, agents, and anything else that an nba rookie has to pay for before he can start budgeting his living expenses.  (do they need to get a lawyer?  do they pay for any of their trainers they work with before the draft?)
I don't know why you thought that I said that he'd be spending 215.  I thought I put a very clear, itemized budget that added up to 115.

Actually, your direct quote was:


"He won't be making 91K a year.  Where are you getting that from?  By adding up his two year pay and saying that's what he'll have in the bank?

If he has 100K in the bank after his first year I would be amazed. Are you still in school?
Lets say his take home pay after taxes and after his agent (10%?) and after his trainer and any other of the cost we don't know about that involve getting ready for the nba draft get added up his take home pay will probably be about half his salary.  We'll say 215."



Based upon that (and your list of expenses), it appeared that you were saying DJ would have a tough time saving a lot of money because of his "expenses" that included paying cash for 2 cars, jewelry, getting his mom "out of the ghetto" and "clubs and girlfriends"...

I disagreed with this because I think it is a big jump to assume that DJ won't be able to save much money because of the expenses you listed.

I don't know how DJ will spend his money... only he knows that.

[tonyreeder]

Kirk Hinrich.   The best white american in the NBA.  He should make up business cards.  I don't follow the NBA very closely.  Could that possibly be true?    Nash is Canadian.   Nowitzki is certainly not an American.   Nothing against Kirk Hinrich but that is not a very good sign for white american basketball players.  Where have you gone Larry Bird?   Randy Breuer isn't still in the NBA, is he?   He was the whitest american-period.