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What a tragic story. Jack Johnson, defenseman for the Columbus Blue Jackets, named his mother power of attorney and his parents as his financial advisors and they ostensibly squandered his 30 million dollars in earnings forcing him into bankruptcy. I have my own questions about the story. However, it's pitiful how money affects people no matter how close they may be to you. Bottom line..watch your bank book!
What a tragic story. Jack Johnson, defenseman for the Columbus Blue Jackets, named his mother power of attorney and his parents as his financial advisors and they ostensibly squandered his 30 million dollars in earnings forcing him into bankruptcy. I have my own questions about the story. However, it's pitiful how money affects people no matter how close they may be to you. Bottom line..watch your bank book!
A grown man who's not mentally handicapped should not be be giving power of attorney to his parents. That's common sense. This is just another example of helicopter parents not allowing a child to turn into a man. We see this with turning everything from 18 to 21 and extending educational requirements(college). People are considered "kids" longer and longer. Now you have grown men who think they need their parents to handle their money like they're 14 years old
It's pretty easy to handle 30 million. Just put it in the bank and buy a nice upper middle class house and a descent car and live normally and you're set for life.
Uh, no. There's FDIC insurance limits to consider.
It's too bad he couldn't trust his own parents to do right.
LOL!
Trying to sound smart? Planning on Bank of America going completely bankrupt? That's the only way you'd lose the money.(this is read as too big to fail. Not going to happen unless American economy collapses)
Spread it across a couple banks if you're that paranoid.
Too bad his parents are going to get away with this.
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(not that i need it, I'm obviously not a multi-millionaire 
)
