It has been reported time and time again that Allen Iverson has blown through the millions and millions of dollars he made in his NBA career. There have been some documented money issues so I guess it is understandable for people to think that, but as usual, we never knew the full story. The answer is far from broke and he has one smart friend to thank for making sure he will be set for life.
@IamJoeSports
A person with a firm grip on the situation informs me Iverson has an account worth $32 million, a principal he is prohibited from touching until 55. In the meantime, it feeds him $1 million annually.
At 45, Iverson is eligible to start drawing on an NBA pension that maxes out at 10 years of active duty, or take whatever’s there as lump sum. He will be entitled roughly to $8,000 per month ($800 per x 10).
If at all possible, Iverson will issue a restraining order against himself until he’s 62 or so. At that time, I’m told, his lump sum will be between $1.5 million and $1.8 million, or he can elect to take monthly checks of approximately $14,000 per.
The smart friend realized if Iverson was just free to spend the money he would burn through it so he took some of it and set it up long term for him.
The $32 million is known as the “Reebok fund” among Iverson’s friends, because the money came from shoe deals.
That’s the type of friend you need to have around.
That’s one of the smartest ideas and suggestions I’ve heard do defiantly and good friend
I’m glad for him. As for the friend God will be bless you as well. Greater is he that lives through me. You are a perfect example of this scripture.
I wish I had one friend like that.. I’m happy for him, most people in it for what they can get out of being friends with a person.
If they were true Iverson fans they would have known this instead of believing everything they hear & read…he still has a house in Gladwyne, PA worth over 1.5 million $$$…how do you define that as broke when you have escrow & collateral.. Idiots some are…#AIfanforlife!!!
The strategy and the discipline to follow the strategy is in his court but what anyone can be able to do before you get concerned about it. I became that smart friend and I set plans like this up fairly often. Hit me up, I’ll do the same for you!
Since the Reeboks with the “Toe” I was a huge fan, and of all the sports figures shoes, those were the only ones that I had ever purchased. Never bouth any others and I am still a huge fan of “The Answer” and will be until I die! Go Ally-Al, and blessings to your friend for seeing into tomorrow!!
I am extremly happy for him..
I would do:SPIEDY…PREIT…REITS
MUNICIPLE BONDS…..MUTUAL FUNDS..SOME OVERSEAS INVESTMENTS
His ex was awarded 50% of this 32million… So when he gets it she gets half..
This is why you cannot believe everything you hear. Always was a fan, we share that CT flava! Great to have a friend like that in your corner. Stay blessed A.I.!