Always sad to learn of former heroes problems! http://www.dailymail.co.uk/sport/fo...ker-blames-problems-bad-financial-advice.html
It's a difficult one this Dave, as someone who has been so skint in the recent past even having to go around the supermarket with a calculator, I struggle to feel sorry for someone who has earn't thousands, maybe a million(s) and is now skint. Tough titty, welcome to the real world mate, go and get a job.
You've got to be a prize numpty to lose all that.Ok bad financial advice perhaps but if you ever amass a million pounds you never have an excuse for being skint again.Buy five houses with half of it and rent them out at £500 a month each = £36000 a year.Buy yourself a nice house with the rest..simples.
So I'm not the only one who does that then lol. I'm getting pretty good at making 20 pounds worth of shopping last 6 or 7 days. People who make that much money then lose it all don't get my sympathy.
Renting out houses is a pain in the arse, trust me on this one. People trash the houses and you have to refurbish then every time a tenant moves out some times. Then there's tax on the rental income, it's not as easy as it sounds.
Agree with this - it´s okay to blame it on bad advice from a financial advisor, but he could have used a little bit of common sense himself.
They lost 100,000, he must have been pretty frivolous before hand. In addition he was a bit of an arse, I went to school with him and I remember an altercation with him at high school where it was my turn to bat at cricket, he grabbed me by the throat and snatched it off me. He was the year above and twice my size. I wouldn't say he deserves bankruptcy though.
My M-in-Law bought one when she retired and the same tenant has been in for fifteen years.Nice people who look after the place and she always charges them half rent for December as they are a bit hard up at Christmas.Gives them a couple of hundred quid to buy the kids presents- both parties happy!
She is very lucky to find someone who wants to rent for that long that is not on social support and has not trashed her house. That situation is the exception and not the rule. I know someone who rented their house out, a decent 3 bed semi in Norwich and it was turned into a pot lab production facility.
Both tales are simply anecdotal evidence though. Without looking up the statistics, I'd imagine that renting property out is a reasonable way of getting a steady income from £1m, simply because of the prevalence of buy-to-let. If it was an overwhelmingly bad investment then people wouldn't do it in the numbers that they do.
Of course the other bonus is that she paid £35k back in 1999.It's now worth around £100k,so it has appreciated as much as she has earned in rent.
I'm not saying it's bad,". It's just not as hassle free as you think like X + Y = Z. It can be difficult, stressful and expensive. Not as hassle free as stocks and shares.
Well the thing is you can always get a rental company to do the work for you, yes they take a cut, but they can run the whole thing all you have to do is sit down and watch the money come into your bank
Some very harsh comments for a past hero! Just goes to show how some people have very short memories or are just sad and bitter! Presumably he was a top bloke when he was banging in the goals for you but now he has fallen on hard times, irrespective of the reasons, some of you couldn't give a toss! Wow that's compassion for you! I read somewhere that Sutton spent a lot of his own money helping out Lincoln City when he managed there a few years back. South of the border we treat our former players with a great deal more reverance and compassion as in the case of Kevin Beattie but then again we have always shown more class.
Unlike Chris Sutton, Kevin Beattie never earned megabucks during his playing career, it's a shame that this has happened to him but I can't say I feel sorry for him. He may have been advised badly on that investment, but he was a top flight player for many years earning money that most people could only dream of and should have made provisions for his future.
