From $55 Million to Broke
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- čas přidán 2. 05. 2021
- Jose Canseco made $55 million playing baseball and was one of the best players in the game's history. He was known for his moonshot homeruns and nearly made the Hall of Fame.
He will always be most known for his expose on the rampant steroid use in the MLB during his playing days. Unfortunately, he's now seen fighting in amateur fights just to make a paycheck so he can pay his bills.
Another sad story of an athlete who made millions and eventually went broke. Thanks to DJ Vlad for interviewing Jose and to Jose for sharing his story.
ORIGINAL VIDEO
• Jose Canseco on Madonn...
Jose Canseco on Madonna, A-Rod & J-Lo, PED Use, Mark McGwire, Going Broke (Full Interview)
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I feel like cocaine plays a large part in a lot of these stories, but people don’t always talk about it.
Oh yeah. In hindsight it's easy to tell you've made terrible decisions, but when you're on stims, you're easily 30, 40 IQ points down lol
@@miguelzavaleta1911 lmao facts and this goes for all stims! Yea I’m talking you too addy fiends and overage ravers
if you get too fucked up on it, cocaine will make you do things you would NEVER do sober. **my friends tell me....
@@GG-jn9fx Oh definitely. People hitting bunch of addy pills at the same time thinking they're somehow different from meth heads -- like mfer, do you know what you're taking? Lmao
@@Supatrader No shit, the purpose of taking drugs is to not behave as sober.
I respect the fact that he was so open and honest about his life and situation. A wise man learns from other peoples mistakes, while the fool ignores them.
"A wise man learns from other peoples mistakes, while the fool ignores them."
I totally agree the only problem is that in my experience we rarely learn a lesson with going through it personally.
He wrote a tell all book about his life to make money.
@@dcsportsmark4996 Thanks. I will read it.
Learned what exactly? He's definitely still using steroids and is still broke..
@@informanti hmmm… direct correlation? Juice for life ain’t cheap.
Gotta respect jose for his humility and willingness to share...hope things improve for you
Crackhead hard to change
Anything for a paycheck when you’re that desperate. Not honourable.
Came for financial news.
Came away learning Jose blinks like he's trying to smash a walnut in between his eyes
🤣🤣🤣
steroid side effects
There's an image !
In his defence, its probably a very sexy walnut
🤣🤣😂😂
Once you go through a celebrity boxing/MMA match I know you're broke.
i mean jake paul does them and hes pretty rich but yeah i know what your saying
@@bleach6427 Jake is an exception.
@@bleach6427 Jake Paul had absolutely no dignity to begin with.
No really, Mayweather did just for good pay (wrestling).
@@dehash666 were talking about celebrity boxing matches ,not actual boxers
So sad. He seems like a nice guy. Financial literacy is important folks, it doent matter what you do. Learn about money management.
Use low-cost index funds, auto-invest, pay no attention to the market noise.
I agree with the marriage part. The women 99.99% of the time want them for the cash, and probably can’t stand the arrogance and cheating. As soon as the moneys gone and the men need support, it’s a wrap...
But these men mostly don’t pick their high school sweetheart either... you get what you pay for 😅
Jessica canseco 😂
Yap
Exactly
yeahh, I'm suprised they didn't get a prenup or something. Stick to the friends and family that you had before you became famous.
Well, when you cheat and treat a lady like shit cause you gat money you get what you deserve. Even the high schools sweetheart will get tired.
Would definitely recommend watching "Baseball Doesn't Exist" for his Jose Canseco breakdown
Yep, I watched video about him couple weeks ago.
Baseball channels always come thru with quality content
@@coolfear360 Fr! Baseball CZcams is quickly becoming one of my favorite corners of the Internet to hang out in!
Quality content and the comments sections are second to none. Reminds me of just how much I love the game.
Spencer could easily go back and watch ESPN “Broke” and make tons of these videos and do a where are they now.
How fast the money dissappears is scary!!
How much athletes get paid is scarier.
@@bloatedsodium7301 Eh, they have trained themselves into an incredibly high demand position of athleticism and skill and with that they deliver massive value for team owners and fans in return. They are paid fairly.
Yeah but what was really scarier is that after buying all those people houses and he ends up living in the garage you get the impression that none of them open their doors to him .
I could be wrong and maybe he was too embarrassed to let them know he was living in a garage .
Spencer was surprised testers didn't catch Canseco's steroid used, but MLB didn't ban steroids until 2005. There wasn't a testing and punishement policy in MLB until the start of the 2005 season Canseco retired from baseball in 2001. So there wasn't any testing for him during his playing days and technically, although frowned upon, he didn't violate MLB rules when he was juicing.
holy smokes really? I actually did not know that. I guess they knew but never actually tested
@@SpencerCornelia I actually listened to that interview last week on DJ Vlad .
The funny thing is i was relaxing and had my eyes closed the whole time ... and so i literally did not notice that nervous clenching of his eyes until just now looking at your excerpt of that vid ... poor guy .
Mlb knew lol but the home runs was good for baseball $$. When they no longer needed guys like Jose he was thrown under the bus. Guys test positive all the time but are protected
Yup. I remember this. That home run race between Sosa and McGuire made them so much money. They just didn’t test for Steroids or HGH.
Where's his "family" that he took care of, when he needs them.
They are probably in worst state than him
They are taking care of them.
drug friends, large parties, women. These families disappear when the money dries up.
He no longer speaks to Ozzie, his brother. It's really sad.
‘He’ll be Comfortable coming back to ask you from more money’
Great line my man, really enjoyed this video!
Fuck, I live in a country with no baseball tradition, and even I heard of Jose Canseco. Sad to see someone sliding so low in life, but he seems really honest about his mistakes, and hopefully others will learn from this train wreck.
He once said his former teammates turned on him for telling the truth.
i remember, he was the first athlete to make that $4 Million a year salary ... made the cover of the USA Today Money section which was big back then
That's still too much in today's terms.
Holy shit. Makes me sad. He actually seems like a good soul. Not afraid of sharing.
he seems like an honest liar. he will tell the truth if it makes him appear vulnerable and sympathetic, but not when it makes him look like an ass.
@Spencer Cornelia
"Money didn't change me, it just changed the way people think about me." - E40.
Who the fuck is that 😂
@@alainportant6412 Lmfao, he's a bay area rapper, most prominent in the 90's. That saying was off his album "In A Major Way."
@@alainportant6412 E-40 is a music artist
@@alainportant6412 who the fuck are you
It’s honestly a sad story. Regardless of the decisions made.
Lmao I have zero sympathy for any broke athlete or celebrity. They didnt deserve all that money in the first place, so it's nothing but karma that they come to lose it all in the end 🤷🏼♂️😂
One of the biggest aspect of why athletes go broke so fast come down to having instant access to the luxuries of life (cars, clothes, jewelry, women, mansions, private jets, etc.), which is less of a gift and more of a curse. Unless you're EXTREMELY DISCIPLINED, most athletes will lose most of their money buying things they don't need.
instant access is exactly right. they immediately have ways to spend hundreds of thousands of dollars in a matter of weeks.
Keeping Up With The Joneses is a curse.
And lack of education. These athletes aren't necessarily the sharpest people on earth. You do have some like Aaron Rodgers, Tiger Woods, etc who are clearly bright and will never go broke.
Don't forget, some friends and family expect these athletes to send gifts and money.
I thought Spencer was going to say, “by your 40s, you’re living in a van, down by the river!!!”
I live in a van. Doooooown by the rivvvver.
Great point about not knowing if you should trust people's intentions around you when you meet them.
It seems all these young athletes go through a ''guilt of sucess'' syndrome. Then feeling obliged to help out others.
Pretty much they get manipulated by their environment
if you end up in an excellent financial situation and don't feel obliged to help others... you ARE an asshole.
@@TheTiltedOne and look where he is now. Broke and fighting at 50 years old just to get by. Should've let him be a rich "asshole"
@@dreamybull1509 there’s a balance to helping your family financially and you can set it
Imagine your ex wife takes your house and $10 million dollars while you live in some randos garage? lol
More like the garage of a family/friend he help paid off the mortgage 10 yrs ago.
Shouldn't have gotten married, hopefully he learned a lesson
@@eneco3965 no
@@eneco3965 It was the 90s. The views on marriage was different than today.
@@tomlxyz yes
Incredible videos. Enlightening cautionary tales, thank you very much.
I love how spencer breaks it down and gives advice intbetween telling the story truly the greatest teacher on youtube
Sucks that he bought those family members houses and cars, but still had nobody that would put him up or talk to him when he was low
That’s how it works. Trust me people are not genuine. So sad but I wish younger athletes would learn from these stories. Invest your money period
I slept in my car for 8yrs in Los Angeles to pay child support.
Never once felt sorry for myself
Never once took drugs.
Now my house is paid for and I have
$3000. Per month extra after my bills are paid
Wow!
@@lyndacork2821 I had a couple of crazy moments.
People trying to break into my car as I was sleeping in it. One time I came back to my car at nite and it was gone. Total panic. I started walking down an alley and found it 3 blocks away with the radio ripped out. One time I was sleeping in my car and the police decided to take their coffee break on my front hood at 2am.
I'm so sorry you had those things happen. No one deserves that. You are an inspiration to anyone who has been down on their luck but also especially to your kid (s) for never giving up. Light, love and bright blessings my friend! 😉
@@lyndacork2821 thx.
2 things saved me.
• I never felt sorry for myself
• I never took drugs
You are a Warrior. You made it through the tuff time
I appreciate your content!
Props to Jose for being honest. He’s always been extremely honest.
You funny AF bruh, I like your clarity, humor and delivery.
I read somewhere years ago he would rent himself out to parties. Pay him $10,000 and he would attend your party.
So he did what evey single celebrity does? Shocking....
@@nardinit I didn't know other celebrities did that. I assume the ones who do this are broke.
@@email5023 Most pornstars escort too...
Similar to yachting where most models and celebrities are doing to score big money quickly. Meghan Markle is one of those yachters.
I love that you are into things like No Jumper, Akademiks, Vlad, I personally am a big fan of that genre and it's heavily deceptive when it comes to talking about money from the Rap & Hip hop genre, as well as sports and everything else. Appreciate the content!
A Fool & His Money Will Soon Apart 🙏🏾
He was not a fool. Many people lost money in 2008, are they all fools?
@@thehonesttrader8428 did you even watch the video? He was definitely a fool
@@freeagent.87 Yes I watched the video, and the interview. Over 50% of people get divorced was he a fool to get married? Many people lost money in 2008 in real estate and the stock market, were they all fools? Think for yourself.
@@thehonesttrader8428 yes and yes
It's "part" not "apart".
Spencer, you are sooooo funny man but true. Keeping it real is what you do. Always enjoy your videos man.
Wholly crap, how revealing. Thanks Spencer and also Jose for being so truthful. Great life lessons for us all.
6:00 Nah, Graham is into money that’s why he saves and invests so much of it and has a whole channel about it. Jose, wasn’t into money meaning he didn’t study it, didn’t learn how to leverage it, and just parted ways with it almost as fast as it came in
I really like this video, well done
Why does Jose blink harder than a South Park character?
@Dagmawi Thewedros Cocaine is a helluva drug
His alimony payments
Don't blow it. Keep it simple. Count your money.
What a coincidence! I saw that same interview yesterday!
When Jose Canseco was drafted in 1982, $10,000 was a lot more money than it is now. It wasn't nothing for a lot of regular people.
that's fair. but he probably spent most of it on the car
@@SpencerCornelia True. I think even if he had $1 million signing bonus he would've just spent it anyways. Great vid.
An inheritance obtained too early in life is not a blessing in the end.
Proverbs 20:21
“Peanuts compared to today.”
If he invested 60% into the S&P 500.
He could’ve had $100,000,000. ez
Yea talk about dumb money managing . This guy is a dope
@@bitofwizdomb7266
I love Canseco the ball player.
He would’ve been 1000x better off if he never got into steroids and partying
That thumbnail got me dying,
No way your biceps are tgat big 🤣🤣🤣
it's misperception based on how close I was to the camera
You should see his oldest videos Spencer is jacked af
@@jefbozies3707 omg
Reality is a lie
Just when I was looking through your videos for one I hadn't watched.
I came across you from Coffeezilla, but you have to be one of the best channels on CZcams. The sports series is brilliant 👌🏼
I see you showing off your gains Spencer 🔥the biceps look nice.
*That's why i love kanye west he doesn't entertain family and friends that's why he reversed the Kardashian curse*
The cardashian curve ?
been binge watching your channel this past week, subbed days ago though. He says, he wasnt into money, i think he means he wasnt knowledgable about money, we're all "into" spending money haha. on the other hand, Graham stephen's .20 coffee is def someone who is knowledgeable about money. really dig these money vids and the guru vids.
Great Video! What kind of stock should he have put and didn't need to touch it?
Rule no.1 don't get married. If you do it's only a matter of time before you have to settle in divorce court
Prenup.
@@I_WANT_MY_SLAW Pre-nups have loop holes. Also in some states they can nullify the pre-nup.
Prenuptial agreements can be voided, just best not to do it.
@@I_WANT_MY_SLAW can't in Cali or Wisconsin
@@TheSushiandme you can get a prenup in every state.
Great video Spencer.
Can you make a video on how Gsp spent his first Million by Gq? His spending seems wise
So I’m a baseball fan from NorCal, and I totally remember that in ‘89, the year of the Earthquake series, Jose’s wife said she bought a new custom leather dress from North Beach Leathers for each game of the series, to the tune of something like ten or twelve grand. She always had really really nice jewelry too, and while that’s normal, he dressed just as flashy as she did. He drove super expensive cars and generally lived a pretty lavish lifestyle, so yeah, if they did all that without investing, it’s no surprise he’s broke. Also, he divorced and remarried during his playing days and that gets expensive, especially since there’s at least one kid involved.
Great video.
Spencer, .... Good read on this guy José Conseco. You're the best.
9:25 Spencer's turning into a red-pill coach. Haha
Based Spencer haha
great video
The more I see these stories the more obvious it gets that it's not about the nominal amount of money but the management of it. If you have the inner strength to manage $1000 responsibly, then you will also manage $1 000 000 responsibly.
@6:00 He wasn't INTO money? That's a lot like saying: "I wasn't into breathing"
Given that he burned so much money quickly...idk what he was on about.
Excellent job...
I see some photo shop on them pipes spencer!!
haha I don't even have photoshop
JC is always op front-great interview
It was a sad story but it’s the bitter truth of life, nothing is permanent here....
great video!
P.S - your on the right track as to why MLB players don’t go broke nearly as often. part of it is the minors like u said.
I have 2 friends i played baseball with in college who were lucky and talented enough to get drafted, and baseball has a 4 year arbitration clause where even in the big leagues, you aren’t making nearly as much the first 4 years. Rookies always get paid league minimum, around 700K or so and that goes on for 4 years. if ur lucky enough to get signed after arbitration, that’s the check that boggles most people’s minds. tens or hundreds of millions. At this point, you’ve spent 4 years establishing a lifestyle on less than a million, so far fewer players go on crazy spending sprees in that 5th year.
Same principle as when you go to the store and see something u want but don’t need, they say wait 24 hours and if you still want it then it’s probably worth the money. Most people realize after that 24 hour period it was impulse and you don’t want it as much as you thought.
Well imagine you spend 4 years doing that. by the time it’s over, typically a super car satisfies most guys.
Another smaller reason, MLB teams build contracts so you basically can’t have fun ever. 😅 Most guys can’t buy jetskis, boats..some contracts even don’t allow super cars. So if you get to that 5th year and it’s payday, your impulse control is better and the team helps to make sure the players they are investing a small countries economy into don’t run off and get hurt and the teams out a 25 million signing bonus.
Spencer, could you do a vid about how Johnny Depp lost his money ? Nice video !
Love the thumbnail 💪
he paid his twin brother to make public apperances for him lol
That's crazy ... is he an identical twin ?
Hope you review GSP’s GQ Vid
I bet none of the people he helped are reaching out to him , moral of the story don’t share your bread w people cause they won’t the same for you be selfish in life you won’t have to deal w such things
That still sounds like a very unhealthy attitude though. Maybe only share your bread with people who absolutely dont need it or something. I mean you can be 100% sure someone isnt only there for you for your money if that someone's as rich as you, right?
You seem like a fun person
@@MrFakefall lol why would I share my bread w someone who don't need it ? why would i even share it at first place nothing oblige me to do so right ?.Handouts are the reason we still have people beging in our societies stop handing out everybody will get to work asap
@@Jibs0n thats just such a fundamental misunderstanding of how either the world or just people in general work. Get to know them before making arbitrary rules that sound good in a vacuum but falls apart in practice and save yourself the disappointment
yeah this always reminds me of money is easy to spend hard to make. It is so true, i actually prefer to gradually increase my wealth than be slapped with a shit ton of money as you have no real perception of how valuable and important it is.
That seems to be the only real way of handling money well. Slow graduation.
And you'll appreciate every step more. Going from 0-100 is great for a year or two but hard to sustain
If you live for "feelings" or life you'll be feeling broke af when you get older.
If you live your life understanding that feelings are all fickle at best you'll do what's right and feed the ego.
It surprises me that athletes getting married at the peak of their careers don’t have prenups!
Hey Spencer is that a weed jar on your shelf ? 4:20
Sad story. Hope things get better for him.
Very Sad, but true.
no mention of "party powders". I'm just speculating, but was that a thing with Jose?
Used to love José as a kid
I like this guy he’s super honest like Mike Tyson plus he shared a shit load of money with family and friends that for me goes a long fucking way.
Instead of the Bash Brother becoming a Stash Brother, he became a Crash Brother, having to crash in garages.
9:30 - Derek Jeter didn't get married until after his playing days. Smart.
Good good content
Spencer please do a video breaking down how u would invest money if u were an athlete or high income earner. Play the role of financial advisor.
I've done that a few times lol. check out zion williamson video
Living comfortably is key.
maybe an interesting subject to investigate which role the advisers or money managers have with athletes .
hey man big fan of your videos, this might be a bit off topic but i know you are a fight fan... are you familiar with what is going on with Diego Sanchez and his "coach" joshua fabia.. its a really sad and bizarre story and is currently on going. if its some thing you would consider making a video i know people would be interested in it
There's no description in the video, isn't that bad for the algorithm?
weird question...what brand t shirt are you wearing in this video?
Why the constant eye shutting.. surely that 50 mil didnt go into crack🤣🤣🤣
You are such a smart man Spence
4:50 that’s why you live modestly. They know you doing well but don’t know how well.
Omg the ending XD
interested to see the breakdown of the $11mill he invested .. and how he lost it
Drinking game: every time he blinks, take a shot.
Can you do a video on MJ DeMarco?
The pose 😂😭😭😭
I watched the entire interview and he said he lost 9 million in the stock....
So that's why he doesn't like it. Makes sense
I hate it when people talk as if there’s no risk when investing in the stock market.
it's like Jack London's A Piece of Steak story.
If I ever get a bag!!! I would hire you to help me invest. I love these videos
I'm getting deja vu i think I've watched this video before.
That thumbnail tho 🤣🤣💀
This is very sad