WWE Hall of Famer Jim Ross has updated his blog at JRsBarBQ.com with some commentary on wrestlers needing to manage their finances better.
“In today’s WWE, if a talent is working regularly, and I’m not even talking about a main event talent, there is no reason that they should not be putting significant portions of their income away for their future,” Ross said. “No reason whatsoever. Those that say otherwise likely don’t have a plan whatsoever and are more bling conscious than not. Those talents that don’t have a legitimate, reliable, licensed financial planner working with them are at the top of the list for those who will be taking Indy wrestling dates for any amount of money that they can muster long after their body has told them that enough is enough.”
Jim Ross addressed the issue of wrestlers being classified as independent contractors and whether that affects their ability to properly set aside money for taxes and save.
“Some critics decry that if these men and women were not independent contractors that these issues would be significantly lessened and to that I call BS. Look at all walks of society where men and women are members of unions, are fulltime, regular employees and they still can’t be forced to spend their monies wisely, to pay their taxes, and to prepare for their future.”
“It’s akin to having substance abuse problems. The only thing that can guarantee a cure is for the abuser committing 100% on a daily basis to choose to be clean and sober. In other words, the abuser’s biggest ally is the person that they see in the mirror because only they can stop the madness and prevent a predictable, disastrous end to their own life.”