"I've never studied. The only thing I've done in my life is play football but I'm not stupid and I don't trust anyone. That's why when I hire an advisor, I always pay them 30% more than they ask for, because I don't want any problems"
The above quote was by Cristiano Ronaldo.
The above quote was by Cristiano Ronaldo.
He said that during a meeting with his agent and his lawyer as he tried to untangle himself from allegations of tax fraud by Spanish authorities.
By his own admission, he didn't understand what happened and how he got indicted for tax fraud, even after he had paid his advisors.
By his own admission, he didn't understand what happened and how he got indicted for tax fraud, even after he had paid his advisors.
"I always pay them 30% more than they ask for..." he said.
Sadly incentivizing them didnt help him. Recall Lionel Messi had same issue.
Sports stars, entertainers and most outside of business are notoriously lazy and bad at understanding what their handlers do on their behalf
Sadly incentivizing them didnt help him. Recall Lionel Messi had same issue.
Sports stars, entertainers and most outside of business are notoriously lazy and bad at understanding what their handlers do on their behalf
This is why most of them get broke shortly after their careers END (Djemba-Djemba or recently Dwight Yorke) or they hit a rough personal patch in their lives (Emmanuel Eboue).
They do not pay attention to their financials and it comes back to bite them.
This is a huge flaw.
They do not pay attention to their financials and it comes back to bite them.
This is a huge flaw.
I understand that they are "focusing on their art" but if that's your excuse, its a lazy one. The people you pick to handle tour affairs are first in it for themselves before you, no matter how much platitude roll out of their mouth otherwise. This is real life fact.
That is why
That is why
You must as a matter of urgency, even if you won't personally handle it, even if you hire people to do it for you, you must try and have a basic knowledge of what they're doing. You must also be current and follow up even after they've told you they have done it.
You must know if your business taxes have been paid, when and have reciepts/certificates on hand. You must know what your expenses ars, what your receivables are, who is owing your business, who are you are owning.
You must look at your numbers daily because if you don't...
You must look at your numbers daily because if you don't...
You'll wake up one day to find that you either have no money at. The bank or you've been hit with an indictment for something you thought was already settled.
Your finances are your responsibility. You can delegate it but if it comes up short, you're responsible for any fallouts
Your finances are your responsibility. You can delegate it but if it comes up short, you're responsible for any fallouts
