On August 11, 2012 Chad Johnson became initiated into the “a fool and his money shall soon part” society, joining the elite ranks of Antoine Walker, T.O., Allen Iverson, Young Buck, and countless others. We’re looking for Floyd Mayweather to be inducted any day now. So, how did
Ocho earn this unique honor? He decided to take the road less traveled: headbutting his wife. In mere seconds, he lost his job, endorsements, wife, condo, and dignity. THAT is a talent that even T.O. would need years to perfect. Chad may have set a world record, but too bad it wasn’t a record that was set on the football field.
Recapping the fireworks over the past month or so, Chad assaulted his wife. Then he was released from the Miami Dolphins days later. Then
he lost his endorsements with Zico coconut water. Then a $400,000 foreclosure began on his Miami condo. Then a lawsuit was filed against him by a former employee. We’ve never seen anything like this, but honestly, this is exactly how it should happen. If a car had all of these issues under its hood, it’s only a matter of time before it stops working. His behavior was pathetic and avoidable if only he had used a teaspoon of common sense. If Chad ever begins to blame this on Evelyn or anyone else, he’d better look in the mirror. The blame is on him.
Being a millionaire doesn’t give you a pass to be an a**. What Chad and T.O. failed to realize is just how powerless and replaceable they
are in their line of work. Their false sense of importance relied on a fleeting career with a fleeting income that consistently relies on
their ability to perform and add value. Chad was known for his arrogance and flashy demeanor. He along with many other hardly wealthy athletes create
this God complex, believing that they’re untouchable on and off the field. Guess no one took notes from OJ Simpson.
3 Things to Learn from Chad’s Crappy Situation
1. Invest in yourself. Wealth =self. Before you begin spending any money, you should be required to go through a one year counseling and financial advisory program that includes personal therapy, financial classes, humanitarian work in third world countries, and a wealthy elite advisor.
2. Prepare for the worst. If all income were to stop coming in immediately, how long could you survive without one? If the answer is less than 6 months, it’s time to save regardless of the income coming in. These artists probably net a few million a year, yet they equally spend a few million a year, leaving them in debt and unable to sustain their lifestyle indefinitely. Emergency funds, investment funds, and savings accounts are key.
3. Embrace restraint. Another commonality with the hardly wealthy is once they get money, they actually think it’s a display of skill to blow through money the fastest. Color us unimpressed. We’d be way more impressed if they were to challenge themselves to live modestly. With a lavish lifestyle, it is very easy to blow through millions of dollars in a year these days. A millionaire is no billionaire. These modern hardly wealthy celebs and athletes should seriously work to cut their budgets into a quarter to a half of what it currently is.
Chad was a broken man. It’s always easy to spot these kind with their showmanship and reckless financial behaviors. They live for the attention and the thrills that money gives them. Money doesn’t buy self-worth. It doesn’t buy love, and it doesn’t buy friendships. This HAD to happen to Chad because he clearly didn’t learn the lessons above when he had money. Let’s hope he learns it now.
*Image courtesy of the Washington Post.
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