NBA Player Says The Dumbest Things About Money

In case you were unaware, last week was the huge $640 million Mega Money drawing.  There had been quite a bit of publicity surrounding the event since many experts postulated that if the drawing went without a winner, it would top the $1 billion mark.  People clamored to secure tickets–even those who lived in states that don’t participate in the drawing were sent to Twitter, Facebook, and their phones to contact friends and relatives in participating states hoping to have tickets purchased for them.  One particular person who who a significant vested interest in the drawing was Washington Wizards rookie Chris Singleton.

 

 

 

As you can see from the above tweets, Mr. Singleton decided to spend $10,000 on tickets, which he later went on to call an “investment”.  I would suggest heading back to Florida State for another few semesters of finance courses to learn what the meaning of “investment” is.

Then, we get this heart-warming line regarding his plans for those future winnings…

 

 

I’m sure there are plenty of people who think that he could have taken steps toward that dream simply by giving that wad to an organization that already is trying to change the world.  Or at least used that money to help kids who needs clothes and supplies for school, or food, or any of a number of better things.  

 

The most idiotic of all was a quote reported by Michael Lee of the Washington Post’s Wizards Insider section:

When asked about the purchase on Monday, Singleton said he had to buy tickets at different locations because they weren’t allowed to print his requested demand at once. He added that he felt he made a wise investment, even though he didn’t win. ‘Either that or blow it in the club,’ Singleton said.

Talk about an immature, asinine, pathetic [insert your adjective here] perspective to have!

 

Now, this is in no way an attack o the kid personally.  What it is, in reality, is yet another example of what happens when you give gives access to seemingly unlimited funds at such a young age, and with (apparently) no guidance.  What’s worse s that these are the people children look up to and try to imitate, even though many will shun that responsibility.  I just hope this young man doesn’t end up like player before him such as Julius Erving, Allen Iverson, Antoine Walker, and many more who ignored fiscal responsibility and ended up either broke, or being forced to sell their cherished memories to stay afloat.