Iverson Photo credit: Kingsmen Media
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.
This story made a lot of hating ass white boys have upset stomachs! I don't see none of them singing that #1 hit song ! Hate like its no tomorrow….. I guess they will come out with some silly shit to say about this…. LOL … They like damn it! lol Good for you AI! love this type of shit…. Jah Bless
It’s from the lifetime contract that he signed with Reebok. Damn good clause in the contract.
Very intelligent
Let’s hope when he gets it he can make it last.
His kids will get the money if he passes away before then.
Better than running out of money before you turn 55.
Good….he deserve 2 be wealthy
The answer for a reason
I posted a comment march 6 and y’all still on my sack come on I know y’all got jobs and better things to do… I hope
Y’all seem hurt as hell over Facebook, don’t worry it gets better lol
To thy own self be true
You “felt” the need to comment on the post though… That’s something
His Agent was Smart! He knew early that A.I. would piss it away before then and true to form he has. The problem now is that those closest to.Him know as well. Please GOD keep Him safe!
And then all the friends that stop fuckin with him cause the media said he was broke starts calling him again….
Marquis Glenn told u fam
Rob Greene
Smart Guy
His planner looked out for him. The right fixed annuity will secure your life. I wish more athletes would get one.
Good to hear!!way to go!!
Its a good thing why wouldnt it be
Thank God…..Love me some Iverson.
That’s the smartest moved he’s ever done with his money
So happy for him
Smart man!!
Facts
He’s set for life
That’s what it’s all about grinding while your young and having that money later so you can relax
Good for him, he found out who his true friends are…….what happened to the entourage, that’s right they help to destroy his marriage, smdh…..
Smartest thing ever
This was news two years ago.
That’s A I he should make that back if he put a suit on and do sports center or espn
Get a job till then son. Most people would love to retire early with that kind of nest egg.
Good for him. Smart man!
how about if he ain’t sharing…then I ain’t caring..
That’s smart he is sitting himself up just in case something happens
Awesome. Iverson..sixer for life..
^^^He has kids so it’s still a smart move.
Then I’m sure it’s set up to go a beneficiary
Smart move
Lol
He didn’t stash anything it was part of the reebok deal ..they put they money away cause they knew he would spend it ..and he is like 15 -20 mill in debt now
As black man in America, Iverson has a better chance at playing center in the NBA than that money reaching his bank account, ijs
It’s called a retirement.
Good for him. A good friend is like blessing
He could just borrow 10 million I mean they definitely know he’s going to pay them back ….LOL
I agree Cedric James…..his millions ain’t gonna help me pay my electric bill….
Finally….a athlete being financially responsible….. Kudos to him
Smart.deal
That’s a good problem to have
Exactly i was saying the samething he is not broke
Yes indeed they was
Exactly he actually Not broke now
Thank God he got that
A I my boy but come 55 he aint even 40 yet thats almost like a prison sentence
A solid team makes solid choices!
Whew, I’m glad! I thought he had gone through his money…
SMART MOVE!!! HAPPY FOR HIM!!
Smart man
At least he was smart enough to put money away
It saved him
That’s what’s up! ! He deserves he $$$ All the time, effort, n hard work he did!!
God’s Will he live to Njoy it..if not his kids set, either way smart move.
The agent did a great job. If you ever want to see sad, look at Mean Joe Greene. Was working as a security guard at a bank after 2 or 3 SB’s. Had to sell his rings.
Good for him and his ex-wife btw. (his ex-wife will get half of it). Isn’t democracy so sweet. Lol.
I usually don’t said this but enough respect for this men for really never changing who he was .my favorite not like that uncle tom mj
Yes sir
Right
If it pays him 1 mil annually he’s fine at least he had smart people around him
Maybe he can call J G Wentworth…it’s his money and he needs it noooowww
Umm… This post is absolutely fake; and iverson is no where near close to 45 – he’s actually 39
MAJOR!!!!
He’d blow it otherwise
Troll? I’m saying what the post asked how do I feel….youre the one trolling ..scrolling thru the comments thirsty for a argument ..
Good people get some graces that they deserve….AI is one of the most entertaining player on his time…
So, haters be positive at all times…
R.n.s
Good
Home town hero love my guy hampton,virginia stand up
Damn and everyone was screaming he was broke…yea right seems like hes living ok!!!!
Wow
So why troll?
Sounds like a good retirement plan
Grow up.
That’s dope as hell
Awesome
Would be a good deal but his lien holders are probably already in line to collect on his birthday.
I ain’t mad at him he earned it
This is actually a common practice. All he did was set up a trust fund. Money from endorcments etc… Will go directly to the trust. Every year the trust will pay him 1 mill for 10 years at which point he will get the remainder. A living trust is also a great way to avoid inheretence tax when you die if you have over I believe 10 million. After 10 million they tax 80%. Setting up a trust is a way around this.
He’s smart unlike most pro players
I thought he claimed bankruptcy? I’m pretty sure they wouldn’t let him do that if he had this much $ stashed away.
As long as he takes care of his body and stay away from altercations, he and his family will be good.
I missed this one Andre’ Brown.
Smart
good for him!!!!!!!!!!!!
What if he don’t make it to 55
Good job A.I. they was talking bout you like a dog and than “SURPRISE” JUST LAY LOW DUDE
R.l. Dawson, Warren Kennedy, Solomon D. Overstreet
Good move! Lots of interest! If you’re not good at managing money and you have millions, put it in a high interest account and live off the interest! Keep your knot in tact! That’s a retirement plan!
Corey Ferguson, How do you get 75% of something then get 100% of it later? Hella math!
Smart very smart
His ex wife gets half
Told everyone that dude NOT BROKE!!!!
Stop listening to the MEDIA!!!
His smart friend really had his back, that what real dudes do. He can live good forever and if spent right so will the generations after him….
I think he’ll be ok
I’m glad he’s investing in himself longterm
Its know way he can be broke I don’t care what’s people say that nigger got money he had so much going for hisself he can get money if he really needs it his word is still good he just didn’t use his head when he was in the N.B.A.and had a bad attitude towards a lot of things and hung around the wrong people and the wrong places doing things he wasn’t suppose to do don’t get me wrong you don’t just stop hanging around your friends that you grew up with just because he had all that money it wasn’t what he did it was how he did it you feel me so he will be good when he gets his money and use it wiser once he gets it.
That is smart
It’s good. Sound financial planning.
That’s an old article and I’m seeing it like it happened yesterday
Damn right I!!
I feel nothing because it’s his money not mine and I’m not obsessed with other people’s lives haha
Smart. that’s s retirement, dorian him,and his
Oh well….and there’s always a way around smthg.
Good job most people retiring age is 66 and ain’t seeing $200,000.. he got 32 million at 55
Nobody promised tomorrow
Better to have it coming than to be going through it right now
Right bro @sam
Well he will have money as he gets older so he will be fine!!!
What if he pass away?
Very Smart
Smart friend
Give me my bread! All of it!!
For that simple fact that he have to protect himself from himself, as soon as he get it , it’s done. But I hope I’m wrong!!!#
Well said Elizabeth Kennedy!!!!
Smart dude
He already sold the rights for a lesser amount now. I think someone paid him 75% of it now and they collect 100% of it when he is 55
Good! He can finally pay me some of the child support he owes me! #iwishhewasmybabydaddy
I knew he had to have some money from shoes, they sold a lot
His baby mother gets half of it when it matures. That’s the wild part. I read up on it a couple months ago.
He’s smart. I’m sure it well invested, and those years should give him the wisdom to spend it wisely once he gets it.
Nice
So true SirJason!
He still has money still pulls in 100k a month he just spends more than he makes so like any person he is in debt we also have to remember celebrity broke and regular folk broke (us) is totally different they get down to their last millions and claim broke we get down to our last 10 dollars we claim broke
If he got it all he would have blew it all. Thank his Agent
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What if he is smarter and wiser now and want to make some investments? Give me my bread! all of it!!!
But now that he is older and wiser he might want to invest and he has to wait until 55 to make some big moves
If this is true I will take that myself!
Smart. He basically won’t be a broke ex athlete!
I’m rich biatch !: http://youtu.be/sWPvg_VlCkE
Smart move!!!! Because he blew a lot of bread
1 million annually is not a bad deal at all. 10 yrs will fly by.
I think it is awesome!!!! if he has a track record of spending crazy then this is the best. He is going to grow older, would want to be able to be their for his children, just to be able to live in the lifestyle he has been accustom to living. This is truly a GREAT FRIEND, who truly cared about his well being. These years are going by really fast. 55 will be here for him in no time. I love it. What had to be done had to be done. Apparently, he was spending more than he should have been and it would have probably been gone by now. So he had to humble himself, take some great advice, whether $8,000 a month is enough or not. some live off way less than that. Because of him humbling himself he will will have a pretty penny as a retirement nest egg.