Sometimes I don’t get people, sometimes I don’t get people with lots of money. Take the family of Jack Johnson for example.
Johnson, who is 27-years-old, plays for the Columbus Blue Jackets as a defensemen. He is given a 7-year, $30.5 million dollar deal in 2011. What a sweet deal! He gives his mom the power over his money. Why not? He is young and to me, that makes a lot of sense, that kind of money can support Jack and his relatives for years to come.
But it didn’t.
His parents took over his bank account with glee. It is reportedly common in NHL circles for parents to spend some money when their child hits the big time. Why not? Most parents have changed their lives to give their child a chance at NHL glory. So when they hit the big time some parents may treat themselves financially. Most times it never amounts to very much. That was not the case for Johnson and his family. His parents went wild with the money, earned through their son’s hard work and dedication.
The Johnsons bought homes and cars, reportedly took out loans with high interest rates. Why look at rates when the funds amounted close to $30 million? Homes worth over a million in nice areas, luxury cars and such — I think you get the picture.
Johnson filed bankruptcy with over $6,000 in his checking account and over $2,000 in his savings account. All this with three more seasons left on his contract.
Making a good decision, he fired his parents, now surrounding himself with financial advisers and real legal professionals.
To me this is a sad story and a story I cannot get out of my head. Why would parents do that? I think Johnson is a level-headed man and was blessed with a talent that he worked hard to develop. His parents, I am not so sure. To me, I think Johnson is a good role model for young and older kids everywhere. I also believe that greed changes people and I think this story proves it.