Pros that retire WITH $ vs WITHOUT

[Chavo]

At 2:09 the shermanator talks about going from rich to broke. I rewatched this thinking it would give me a laugh, but it more just pissed me off how out of touch and entitled some people are.



Then I watched the J Cassanova rap video and got my laugh though

Don't think he was ever rich. He may have survived a few more years if he scaled down his living expenses, although his Redondo Beach condo was surprisingly modest and not so close to the shore.

[Mall Grab Mike]

A lot of the 90s and early 2000s Pros ended up having to work. When the party ends and you owe back taxes as well as spending every check like they would never end, reality is harsh. Think about those massive Osiris checks, DC checks, Globe checks, and blowing them all on cars and partying. There weren't a lot of agents back then trying to protect their clients. Remember when Keenan's last shoe royalty was going to go to his grandmother? The IRS swooped it up for back taxes.

[PatrickSkateman]

A lot of the 90s and early 2000s Pros ended up having to work. When the party ends and you owe back taxes as well as spending every check like they would never end, reality is harsh. Think about those massive Osiris checks, DC checks, Globe checks, and blowing them all on cars and partying. There weren't a lot of agents back then trying to protect their clients. Remember when Keenan's last shoe royalty was going to go to his grandmother? The IRS swooped it up for back taxes.

The City of Philadelphia went after Kalis hard on income taxes.

[Mean salto]

Rocco doesn't count because he retired from skateboarding in like 88 but didn't get never had to work again rich until 10+ years later.
Same with any other pro who started and sold a business etc that's not retiring from skateboarding set up for the rest of your life, it's retiring from skateboarding with enough money to start a new job or already having another much more profitable job while still skateboarding.

[RoaryMcTwang]

I heard that Pat Duffy is physically fucked but has to continue skating professionally because he literally can't afford to stop. I imagine he's not the only one. Not everyone can ride horsies with Bryan Herman all day.

[Yonnycage]

Shane is set for life. Guy is super smart with his money if his Nine Club’s anything to go by

[D10S]

I heard BAM still gets mad tech deck money

[TheDraught]

Isn't Dave Mayhew super rich just cause of the Osiris D3?

According to this website Tom Penny's net worth is 126 million. Maybe those years he was MIA he was investing all his Etnies and Flip royalties and photo incentives and he made mad dough.

https://popularbio.com/tom-penny/

[KGB]

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At 2:09 the shermanator talks about going from rich to broke. I rewatched this thinking it would give me a laugh, but it more just pissed me off how out of touch and entitled some people are.



Then I watched the J Cassanova rap video and got my laugh though

[close]

Don't think he was ever rich. He may have survived a few more years if he scaled down his living expenses, although his Redondo Beach condo was surprisingly modest and not so close to the shore.

A quick internet search shows his net worth at a million dollars…

[manysnakes]

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At 2:09 the shermanator talks about going from rich to broke. I rewatched this thinking it would give me a laugh, but it more just pissed me off how out of touch and entitled some people are.



Then I watched the J Cassanova rap video and got my laugh though

[close]

Don't think he was ever rich. He may have survived a few more years if he scaled down his living expenses, although his Redondo Beach condo was surprisingly modest and not so close to the shore.

[close]

A quick internet search shows his net worth at a million dollars…

As we know, information like this on the internet is rarely wrong.

[ok boomer]

Andy Roy seems to be living for free

[manysnakes]

Andy Roy seems to be living for free

I kinda assume Andy Roy makes a living cashes his dead grandma's social security checks.

[GAY]

hahaha I forgot about Selfish skateboards. What a whopper of an idea!

[Pony_Slaystation]

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Has any skater really been able to really retire-retire?
If you start your own company you're still very much working, running a company is actually very stressful.
You can't lay out on a beach in Morocco sipping martinis and run a successful business, at least, no skateboard company is at the level you can do that.

[close]

Heath Kirchart.

[close]

Nah
He delivers my Pizza Hut off caviar . And then he sells me beer at black.

Probably does it out of boredom or whenever he doesn’t feel like nonchalantly risking his life kayaking the pacific coast.

[Chavo]

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At 2:09 the shermanator talks about going from rich to broke. I rewatched this thinking it would give me a laugh, but it more just pissed me off how out of touch and entitled some people are.



Then I watched the J Cassanova rap video and got my laugh though

[close]

Don't think he was ever rich. He may have survived a few more years if he scaled down his living expenses, although his Redondo Beach condo was surprisingly modest and not so close to the shore.

[close]

A quick internet search shows his net worth at a million dollars…

In case you're serious, or otherwise are JRog himself, here's how I know he's broke:

A few months after retirement, Ford Motor Credit Company sued to recover losses from his Aston Martin. The amount owed was in excess of $25k so he clearly had not made payments for some time and had no savings to cover it. The sheriff was unable to collect on the judgment, so there were no wages to garnish, no savings to raid, and no property or assets to seize.

If there's any benefit to being poor, they can't take what you don't have.

[Gab]

Fred Gall

[Joust Ostrich]

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Has any skater really been able to really retire-retire?
If you start your own company you're still very much working, running a company is actually very stressful.
You can't lay out on a beach in Morocco sipping martinis and run a successful business, at least, no skateboard company is at the level you can do that.

[close]

Heath Kirchart.

[close]

Nah
He delivers my Pizza Hut off caviar . And then he sells me beer at black.

This post made me check what year this thread was from.

[TheLurper]

I think there is a misconception about being "poor" post-skateboarding. If some pro retires from skateboarding and spent the last 10-20 years of their lives flying around the world playing skateboards and owns a home, but has to go work at Wendy's to keep that home and afford to do basic things, they're doing better than most of us.

I have to earn money and work at a company known for overworking its employees to afford the necessities and a few luxuries, if a former pro can work some bullshit job and easily afford nice necessities they won the race.

For example, if a couple's take home pay is 4K a month but rent is $2,500 that only leaves them with $1,500 disposable income. If some pro has a paid off house and has to pay $500 a month in upkeep and tax, but "only" earns 2K a month, they're doing just as good as the couple making twice as much.

In case you're serious, or otherwise are JRog himself, here's how I know he's broke:

A few months after retirement, Ford Motor Credit Company sued to recover losses from his Aston Martin. The amount owed was in excess of $25k so he clearly had not made payments for some time and had no savings to cover it. The sheriff was unable to collect on the judgment, so there were no wages to garnish, no savings to raid, and no property or assets to seize.

If there's any benefit to being poor, they can't take what you don't have.

a gnar for the detective work. Are there sources to back this up?

[Benevenstanciano]

So like 5% of the 1% of skaters that turn pro are able to live and retire off of it?

We are all just hamsters on a wheel huh?

[A Not At All Naughty Chemist]

Jeremy Wray is living comfortably off residuals from the tower ollie.

 

[rawbertson.]

ragdoll just posted on his stories he is leaving CLEAN socks, underwear, and long sleeve t's at the skatepark
lol he thinks he is of the same vein of those pros who leave old boards / shoes at the park. homey its not the same sorry. take that shit to the goodwill / charity etc. kids dont need ur nasty ol SUPREME drawers to keep skatin

[PatrickSkateman]

There’s got to be at least one skater benefitting from holding in an interest bearing account and living off of or reinvesting dividends.

[skrub]

He's not exactly retired but Tommy Guerero seems comfortably rich af, east bay hills, etc.

Jim Thiebold too.

[SatanicPanic]

There’s got to be at least one skater benefitting from holding in an interest bearing account and living off of or reinvesting dividends.

How many times are you guys gonna make me say his name?

“That’s why Heath [Kirchart] was able to retire. He put money into mutual funds — all of his money. When he retired, he had a couple mill there. He doesn’t buy clothes or cars or expensive stuff, he just put away all of his checks, because with mutual funds you can pick less risky investments. It’s not just like gambling on the stock market. You can be safe. I encourage all pros who are probably not reading this to get a mutual fund or an IRA.”

https://www.jenkemmag.com/home/2017/06/12/epicly-laterd-big-brother-investment-plans-pat-odell/

[Pony_Slaystation]

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At 2:09 the shermanator talks about going from rich to broke. I rewatched this thinking it would give me a laugh, but it more just pissed me off how out of touch and entitled some people are.



Then I watched the J Cassanova rap video and got my laugh though

[close]

Don't think he was ever rich. He may have survived a few more years if he scaled down his living expenses, although his Redondo Beach condo was surprisingly modest and not so close to the shore.

[close]

A quick internet search shows his net worth at a million dollars…

[close]

In case you're serious, or otherwise are JRog himself, here's how I know he's broke:

A few months after retirement, Ford Motor Credit Company sued to recover losses from his Aston Martin. The amount owed was in excess of $25k so he clearly had not made payments for some time and had no savings to cover it. The sheriff was unable to collect on the judgment, so there were no wages to garnish, no savings to raid, and no property or assets to seize.

If there's any benefit to being poor, they can't take what you don't have.

I really wonder how this dude affords his lifestyle according to what we see on social media. Does he have rich parents?? No way in hell his rap “career” is giving him that.

[ziggy]

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There’s got to be at least one skater benefitting from holding in an interest bearing account and living off of or reinvesting dividends.

[close]

How many times are you guys gonna make me say his name?

“That’s why Heath [Kirchart] was able to retire. He put money into mutual funds — all of his money. When he retired, he had a couple mill there. He doesn’t buy clothes or cars or expensive stuff, he just put away all of his checks, because with mutual funds you can pick less risky investments. It’s not just like gambling on the stock market. You can be safe. I encourage all pros who are probably not reading this to get a mutual fund or an IRA.”

https://www.jenkemmag.com/home/2017/06/12/epicly-laterd-big-brother-investment-plans-pat-odell/

I love Heath, but a few milion? Really?

[PatrickSkateman]

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There’s got to be at least one skater benefitting from holding in an interest bearing account and living off of or reinvesting dividends.

[close]

How many times are you guys gonna make me say his name?

“That’s why Heath [Kirchart] was able to retire. He put money into mutual funds — all of his money. When he retired, he had a couple mill there. He doesn’t buy clothes or cars or expensive stuff, he just put away all of his checks, because with mutual funds you can pick less risky investments. It’s not just like gambling on the stock market. You can be safe. I encourage all pros who are probably not reading this to get a mutual fund or an IRA.”

https://www.jenkemmag.com/home/2017/06/12/epicly-laterd-big-brother-investment-plans-pat-odell/

[close]

I love Heath, but a few milion? Really?

It’s likely he could’ve gotten that much off royalties between 1994 and 2010.

At 3-4% interest, the dividend for 3 mil would gross about 90k /yr.

[Chavo]

I think there is a misconception about being "poor" post-skateboarding. If some pro retires from skateboarding and spent the last 10-20 years of their lives flying around the world playing skateboards and owns a home, but has to go work at Wendy's to keep that home and afford to do basic things, they're doing better than most of us.

I have to earn money and work at a company known for overworking its employees to afford the necessities and a few luxuries, if a former pro can work some bullshit job and easily afford nice necessities they won the race.

For example, if a couple's take home pay is 4K a month but rent is $2,500 that only leaves them with $1,500 disposable income. If some pro has a paid off house and has to pay $500 a month in upkeep and tax, but "only" earns 2K a month, they're doing just as good as the couple making twice as much.

Expand Quote

In case you're serious, or otherwise are JRog himself, here's how I know he's broke:

A few months after retirement, Ford Motor Credit Company sued to recover losses from his Aston Martin. The amount owed was in excess of $25k so he clearly had not made payments for some time and had no savings to cover it. The sheriff was unable to collect on the judgment, so there were no wages to garnish, no savings to raid, and no property or assets to seize.

If there's any benefit to being poor, they can't take what you don't have.

[close]

a gnar for the detective work. Are there sources to back this up?

I don't have a copy of the case file. But here is the face page of renewal of judgment from LA Superior Court's website (this is all public information and you can view the entire digitized case at any L.A. courthouse with public kiosks).

[Candied cigarettes]

Does steve rocco count?

[LebowskisRug]

Heath was pro 15+ years, had good sponsors, often live very cheap or free. In articles about the Emerica mansion they mentioned he also owned vending machines, didn't party, had a bunch of odd jobs, and lived off frozen pizza. I don't think they paid rent so he's likely able to save a substantial portion of his money. If he saved 80% of 40k/year that's $480K without any interest included. If he invested half of that in various low risk options it's completely plausible he retired with millions as in "$2M".