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Reply to "Gabby Douglas' mother had to file for bankruptcy this year due to costs of daughter's training"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I saw on the news she is pretty much guaranteed $1-3 million/ per year in endorsements until the next summer games. She is already on the Cornflakes box. They made a point to say other gymnasts (like Mary Lou Reston) pop on cereal boxes late in life... Mary Lou did ths year and still get paid. As long as they don't go f*ck wild with frivolous spending, pay debts and invest wisely they will be fine.[/quote] She's a kid. The money will be a nice cushion, but there's no way she can live on $4 million for the rest of her life, no matter how well it is invested, much less take care of her family as well. $4 million will get you through retirement -- if you start working when you're 65. [/quote] Why in the he'll does a 16 year old have to take care of an entire family. Help out to get the siblings started or education. But take care of them. Yikes. Michael Jackson comes to mine. [/quote]
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