Can you be both broke and multimillionaire at the same time? The common sense answer is no, but when it comes to Allen Iverson, retired professional basketball player, things get very confusing.
Once highest paid athlete in the world and having earned over $155 million during his active career Allen is now considered broke despite estimated monthly $62,000 for ongoing endorsements. How is that possible, you ask? Well apparently, once people reach a certain income level their perception of money value tends to change. At least this seems to be the case of Allen Iverson. He is known for his extravagant spending. It is interesting to note that unlike many others, Allen particularly enjoys giving lavish gifts to his friends and family. Generosity is considered a beautiful thing but it seems that Allen Iverson got carried away and got into deep dept he can’t pay off at the moment.
Before you get too concerned about Allen, you should know that there is light at the end of this tunnel although the tunnel is quite long. Last year it came up that Reebok has a trust fund for Allen Iverson. Different sources estimate it at $30 million or $32 million, but we probably can agree, it is awesome whatever it is. There is a little catch though – Allen can’t touch it until 2030 when he will be 55 years old.
So on one hand, it is terrible that Allen can’t access his fund when he needs it so much and there is so many financially tough years ahead. On the other hand, if Allen were to access this money he would probably spend them and fall even deeper in debt without any hope.
Ultimately, only Allen himself knows his exact financial situation and how that makes him feel but there is another hint that things may be just not as bad as media tries to represent. In 2013 Allen received an offer to play for the Texas Legends which he declined, saying he had lost his desire to play again. So, apparently, Allen is still in position where he makes his own choices based on what he feels like, the luxury most people don’t have, so it’s not like being fired or forced to retire.
Summing up, it is probably safe to say that with factual $30 million net worth Allen Iverson is still a millionaire who just got caught up a little. Allen Iverson Reebok shoes will eventually save the day.
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