60 percent of NBA athletes “go broke” five years after retiring

[boutons_]

Why Athletes Go Broke (http://briancuban.com/?p=348)



http://briancuban.com/?p=348

[Ginobilly]

It's the lifestyles that they live which causes them to go broke. Instead of settling for a good half a million dollar decent house these pendejos go all out thinking they're bill gates and buy 10 to 20 million dollar mansions and a collection of million dollar cars. Yeah you could live that lifestyle but you have to make a certain amount of money every year. And what's the lifespan of athletes nowadays? About 10/12 years? By the time they are on their last year of their contract of their career they already owe all this money.

[Medvedenko]

Yup, poor financial management. There is only let's say 1 or 2 on each team that makes serious bank that actually can afford to live a crazy lifestyle after they're done.

[E20]

Sort of the same reason why a large number of lotto winners go broke as well. Now everybody can't be like Magic/Jordan, but hiring a lawyer/financial advisor on what to do with that surplus of money would not hurt.

[Phil Hellmuth]

the way the dollar is going, purchasing power is losing its strength.