Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTVishesh RaisinghaniSun, August 2, 2026 at 4:00 PM GMT+2 7 min readYouTubeMoneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.In October 2025, the internet absolutely erupted after Odell Beckham Jr. said a $100 million contract can't last forever, during an episode of The Pivot Podcast (1). Now, former NBA star and Hall of Famer Carmelo Anthony has decided to chime in with a similar take."That's $100 million, but it's not really $100 million over a five-year span," the Knicks legend said on the 7PM in Brooklyn (2) podcast, noting that fans were probably unaware of how brutal state and local taxes can be, especially in a city like New York."You're talking 58 percent to 60 percent or 48 percent, half your check," Anthony said. "So that 10 [million] goes to 5 [million] over five years. And within that five, you've got other taxes you gotta pay."Must ReadJeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — 6 ways to build wealth like a landlord without actually being oneJPMorgan still sees gold hitting $5,000/oz by Q4 — and savvy investors are protecting their wealth with a tax-advantaged Gold IRA. Learn more with a free guide from Priority GoldThe tax breaks in Trump's 'big beautiful bill' expire after 2028 — and experts say most people won't act in time. What to do before the window closesEven if it's heavily taxed, $50 million or so would still be considered "generational wealth" by many fans. However, Anthony highlights another critical financial drain that many high-income people face: lifestyle creep.Here's how lifestyle creep impacts more people than you might think, as well as some tips for building generational wealth without ever having to lace up your sneakers.'You've gotta live'Although taxes and fees are brutal enough, the sudden shift to a high-profile lifestyle that comes with a big windfall is often the "gray area that f—- a lot of athletes up," Anthony said."You've gotta live," he said. "You gotta get a house, take care of your moms, you got your agency fee, all this s— happening within that $5 million."In other words, any amount of money, whether it's multiple millions or billions, is insufficient for financial freedom if you plan to spend more than you've got.Lifestyle creep is the silent killer of generational wealth accumulation, and it even starts showing up in the six-figure club. In fact, 25% of U.S. adults earning between $100,000 and $200,000 a year said they were living paycheck to paycheck, according to a 2025 Goldman Sachs report (3) — but that ratio jumped to 40% for those earning more $500,000.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info