Former Orlando Magic star David Vaughn 36, appears on NBA Fanhouse in a story that describes a journey that stretches at its peak from accommodations at the Ritz Carlton to the 2008 nadir of "accommodations" in a friend's dusty storage shed or the back seat of his Chevy Impala. Vaughn is 6 foot 9 and weighs 250lbs.
It is a story of dissipation that should resonate not only with current and aspiring young athletes but teenagers and young adults who receive recoveries from a lawsuit involving their own personal injury, or from the death of a loved one.
Key points from the NBA Fanhouse article "NBA Washout David Vaughn Back From Depths of Despair"
- "His original three-year guaranteed contract with the Magic didn't come with any
guarantees of a successful life. The contract didn't come with a course in life
management skills, and he had none when his basketball career finished" - "I went from the pinnacle of having it all, to the pits of having absolutely
nothing, and seeing no light at the end of the tunnel,'' - "It's a lot harder to get out of big-time professional sports than it is to get
into it.' You get sucked into that lifestyle, and there's no easy way out.''-Kyle Rote, Jr., former NASL soccer star and former agent of Vaughn's - He thinks back to the '90s when he played in the NBA, living large and acting
wild like a child with too many quarters in an arcade.
At least Vaughn's story has an ending that is happier than its beginning. I also hope that the epilogue is better for him and his family.
Yet stories like Vaughn's fuel the incentive to go after " financial crack dealers" like Structured Asset Funding, those that act like them, and those that support them. Structured Asset Funding solicits business from tort victims by tempting them with dreams of $100,000 sports cars and boats as a reason to sell structured settlement payment rights.
Guaranteed income solutions that may help (together with counseling)
Structured celebrity endorsement fees are one solution for athletes and other celebrities to help secure their futures.
A Structured settlement is a financial planning solution that helps those who have suffered a personal injury or lost a loved one due to an accident. It offers a certain amount of spendthrift protection, tax benefits and can be funded either with a structured settlement annuity or via obligations of the United States government (often through a combination of Treasury Inflation Protections Securities called "TIPS" and Zero Coupon STRIPS)
For more information contact John D. Darer toll-free at 888-325-8640
FOOTNOTE: The "Dissipation Myth" manure spreaders may wish to note that the article states that Vaughn's basketball career ended in 2003 and the nadir came in 2008. My math says that it's 5 years, how about yours?
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