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View Full Version : The 6 Main Reasons Why Most Pro Athletes Go Broke



patriot45
08-16-2009, 09:05 PM
Broke and stupid (http://www.cosmoloan.com/money-management/the-6-main-reasons-why-most-pro-athletes-go-broke.html)

Just like lottery winners, money don't do it all! But I'd like to try!:D



When I was a young basketball player, the thought of getting paid millions of dollars to play the sport I loved would quicken my heart rate and keep me up nights, wishing upon a star. As is true with most young athletes, signing that contract with the NBA, NFL or the MLB is a dream even more exciting than winning the lottery. You “work” for 10 years, retire in your 30s, and you’re financially set for the rest of your life. What I discovered about the truth of the matter was incredibly shocking. Similar to lottery winners, with no financial prowess or discipline, most pro athletes go completely broke in less than 10 years after retirement. In fact, 60% of retired basketball players go broke in 5, and 78% of football players in 2! Athletes are forced to sell their homes, sell their championship rings, and file for bankruptcy

PoliCon
08-16-2009, 09:10 PM
so . . . all six ban be boiled down to a healthy dose of teh stoopid.

patriot45
08-16-2009, 09:14 PM
so . . . all six ban be boiled down to a healthy dose of teh stoopid.

Basically yeah, if you start out a poor dummy and get rich quick, you are still a dummy, but rich! Think of the movie the jerk!