Recession Proof? Ray Allen’s $50,000 Rental

Doesn’t seem like this economic slump is hurting everybody. Just recently basketball superstar Ray Allen moved into one of the most sought out properties in all of Miami.

This beautiful house has 11 bedrooms, 9 bathrooms and its own private beach making this anyone’s dream home.

It’s listed at a whopping $13 million but Allen rents the house for a cool $50,000.

…Um come again?

Am I the only one who finds something wrong with this?

I understand the whole “if you got it flaunt it” thing and if I was 10 times NBA all-star then I would probably do the same thing.

But only if I could .

Too often are these celebrity figures are caught balling out of control and end up broke.

And since the Miami Heat only offered him $3 million for the year you would think he would invest his money more wisely.

Come the end of the season he would of spent a great portion his salary on rent alone.

Recently ESPN’s 30 for 30 filmed a documentary highlighting athletes dramatic fall after a series of bad financial decisions.

According to Sports Illustrated 60 percent of former NBA players go broke six years into retirement.

78 percent of NFL players file bankruptcy two years into retirement.

Numbers like that should scare anybody. Especially those living in the limelight.

Now I’m not trying to wish anything bad on anybody I just want celebrities to think twice before making rash decisions involving their most prized possession: their wealth.

With the season just starting who knows what kind of endorsements or deals Allen will receive.

And when its all said and done lets hope he doesn’t become apart of the “Broke Baller” club.

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