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Lance Palmer just became a millionare

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10 minutes ago, hammerlockthree said:

So you think it's more likely that the earth is flat than Palmer isn't in the black by more than a million dollars?

Nope. I sad as likely didn't I?  To be clear I think both chances are equally close to zero. 

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It's awesome that Palmer can make this type of money at a level below the UFC.  His wrestling centric, ground and pound style seems to have exposed him to less damage than is typical. 

I heard he has a gym or similar operation in Columbus that supplements the income from fighting.

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10 hours ago, Plasmodium said:

Perhaps you have inside information.  Does The Party like to party?

Not a clue, but aren't the statistics pretty clear that well over 50% of NBA and NFL players end up broke? I cant find any similar analysis on MMA fighters which is still pretty new to the scene, but I'm sure we will see it happen in MMA too. I dont know why we would assume that fighters are much better with their money. Maybe Lance Palmer is smart with his financials, but I wouldnt say his chances of ending up broke are equal to 0. 

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3 hours ago, Broomstick said:

 

I heard he has a gym or similar operation in Columbus that supplements the income from fighting.

He has a 'training club' here in CBUS. It's Colin's club.  My bad.

Edited by Mphillips
Fingers and mind weren't together.

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22 hours ago, russelscout said:

Yeah there is almost no precedent of athletes over spending their income.

Again, not what I said. I have no doubt that he has some debt. Nearly every single American does. However, over $1,000,000.00 in debt to the point he would still be in debt after his winnings?  Yeah, I am pretty confident that the odds were the same as the earth being flat.......

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ok I’m out of the loop, how much did he just win or has earned overall? Cause winning a million and being a millionaire ain’t necessarily the same thing. Or maybe depends on how you define millionaire. 

 

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23 hours ago, russelscout said:

Not a clue, but aren't the statistics pretty clear that well over 50% of NBA and NFL players end up broke? I cant find any similar analysis on MMA fighters which is still pretty new to the scene, but I'm sure we will see it happen in MMA too. I dont know why we would assume that fighters are much better with their money. Maybe Lance Palmer is smart with his financials, but I wouldnt say his chances of ending up broke are equal to 0. 

It's all about staying away from bad investments and keeping your circle as small as possible.

Have watched a lot documentary about this topic and the only athlete I truly feel sorry for going broke is NBA player Derick Coleman who lost his money investing in trying to spark Detroits economy. Dude even supplied clean water during there crisis.

Edited by Sublime607

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On 7/31/2019 at 9:06 AM, Broomstick said:

I heard he has a gym or similar operation in Columbus that supplements the income from fighting.

After winning last winter he also talked about his landscaping and snow removal company. He was right back to work moving snow a couple days after winning, stating that he likes to stay busy, not only with training but also with work. Given that attitude and obvious work ethic, I can imagine a low-risk investment in his own business that would set him up to be happy well into his middle ages. As long as he invests some into retirement savings, I'm sure he'll be fine. 

I don't know where the moniker "the party" comes from, but I doubt he maintains that physical level and that kind of work by blowing it on parties. 

Tons of respect for this guy! 

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On 7/31/2019 at 9:26 AM, russelscout said:

Not a clue, but aren't the statistics pretty clear that well over 50% of NBA and NFL players end up broke? I cant find any similar analysis on MMA fighters which is still pretty new to the scene, but I'm sure we will see it happen in MMA too. I dont know why we would assume that fighters are much better with their money. Maybe Lance Palmer is smart with his financials, but I wouldnt say his chances of ending up broke are equal to 0. 

I'm also no expert on the topic, but I imagine age and lifestyle habits are huge contributors to this unfortunate phenomenon. It's not like Lance was offered a $million to drop out of college and become a "professional athlete". Also, I don't know the Palmer family personally, but I can't imagine that they'll become immediately dependent on him financially. 

If Lance had a $million in his early 20s, I'd think he'd be at a much higher risk of going "broke" than in his early 30s, which is what's going on. Instead, he maintained incredible discipline throughout what are often the most reckless ages of a man's life, and he's finding financial success at a more established age with presumably good lifestyle habits given his physical performance. 

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18 hours ago, denger said:

I'm also no expert on the topic, but I imagine age and lifestyle habits are huge contributors to this unfortunate phenomenon. It's not like Lance was offered a $million to drop out of college and become a "professional athlete". Also, I don't know the Palmer family personally, but I can't imagine that they'll become immediately dependent on him financially. 

If Lance had a $million in his early 20s, I'd think he'd be at a much higher risk of going "broke" than in his early 30s, which is what's going on. Instead, he maintained incredible discipline throughout what are often the most reckless ages of a man's life, and he's finding financial success at a more established age with presumably good lifestyle habits given his physical performance. 

That's a really good point.

Edited by russelscout

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On 7/31/2019 at 2:47 PM, KTG119 said:

ok I’m out of the loop, how much did he just win or has earned overall? Cause winning a million and being a millionaire ain’t necessarily the same thing. Or maybe depends on how you define millionaire. 

 

No, he said "millionare

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