50 Cent Bankrupt

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TheMightyMonarch said:
Damn, is it really that hard to hire someone to control your finances and remind yourself not to blow all your money on stupid shit?

I mean, I don't claim to be great with money either but I see cases like this and I simply don't get it.
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Possible power level reveal here, but I work in financial services and thought I might shed some light on this. Yeah he could afford it, and after reading the article it made me question if he holds any equity investments such as stocks or business capital, since there was no mention of any of it. Anyone smart enough with more money than they know what to deal with would hire a financial advisory since it means a small chunk of change to not only increase their net income but also help plan in case shit hits the fan.
50 Cent isn't smart though, and the fact that he's still showing off on his instagram is troubling. It's not just him though, this story has been repeated hundreds of times over again.

Edit 1: Thanks for the clarification @Null. I also realized I missed your second point @TheMightyMonarch. The sad truth is that these cases tend to happen a lot in people who grew up with little financial security and managed to become rich later in life. He may have never been taught to think of the long term and to save , so naturally when someone like that becomes rich they may be inclined to spend it foolishly or only focus on the short term.
That's just one theory though, it could also be that he's just financially irresponsible by nature.
 
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Asmik Otaku said:
Possible power level reveal here, but I work in financial services and thought I might shed some light on this. Yeah he could afford it, and after reading the article it made me question if he holds any equity investments such as stocks or business capital, since there was no mention of any of it. Anyone smart enough with more money than they know what to deal with would hire a financial advisory since it means a small chunk of change to not only increase their net income but also help plan in case shit hits the fan.
50 Cent isn't smart though, and the fact that he's still showing off on his instagram is troubling. It's not just him though, this story has been repeated hundreds of times over again.
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it isn't powerleveling unless it's something shameful. unless you're saying financial advice is shameful, it's not the same as talking about that time you almost killed yourself because your dog died or some shit.
 
What a shame, I always liked listening to 50 cent while looking at dog-on-human porn and sobbing myself to sleep.
 
Is he bankrupt or 'bankrupt' with millions tucked away somewhere?
 
Well, He clearly sucked at the whole rapping thing, TBH. Too bad I'd rather see him find a real job - not in poverty like all the cool kids seem to be in nowadays. That's rather whack, yo.
 
Asmik Otaku said:
The sad truth is that these cases tend to happen a lot in people who grew up with little financial security and managed to become rich later in life.
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being poor makes you only care about money in the short term, you have to.
it's hard to change that when you "suddenly" have a ton of money, you just have to spend it all now.
just ask most poor people who win the lottery.
 
ZehnBoat said:
being poor makes you only care about money in the short term, you have to.
it's hard to change that when you "suddenly" have a ton of money, you just have to spend it all now.
just ask most poor people who win the lottery.
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Part of the advantage of being rich is not just having money, but having experience handling money at the time in life when you learn those skills. People more or less keep the same skills and general attitude toward money for life. For instance, people who grew up in difficult financial times like the Great Depression pretty much remain obsessed with saving money for emergencies the rest of their lives.

You'd think growing up poor would teach you the value and scarcity of money but instead it's kind of the opposite. You need to have some actual choice about how you spend money to learn.
 
AnOminous said:
You'd think growing up poor would teach you the value and scarcity of money but instead it's kind of the opposite. You need to have some actual choice about how you spend money to learn.
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now i'm kind of saying this from a personal standpoint
but like i said before, when you are poor. you have no long term goals.
you get enough money for a month, you work out that month.
you might be able to save... something.. but good luck with that.
you use what you got, and wait for more next month.
 
Absinthe said:
All of you laughing at Fiddy don't understand hip-hop and are probably racists: http://www.theguardian.com/commentisfree/2015/jul/15/50-cent-bankrupt-rappers
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This is the first reasonable comment i've seen on a Comment Is Free article.
 
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