This Is Why So Many Professional Athletes Are Going Broke

AriGold

AriGold

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The average professional athlete in the United States makes more money in one season than the average American does in a lifetime.
Despite this, the pros are going bankrupt at an alarming rate.
The following infographic explores the reasons why so many of our sports stars are going from stoked to broke.

Read more: http://www.mint.com/blog/how-to/fro...l-athletes-going-bankrupt-0213/#ixzz2M209lKb3
from-stoked-to-broke-why-are-so-many-professional-athletes-going-bankrupt.png
 
sad but true... We manage some athlete's portfolio at my work and all i can say is that if i wasnt honest they could take a lonnnnggg ass time before they realise some losses haha. They are indeed cool people to deal with sometimes.
 
Most NBA/NFL players come from poor environments so when they get money, they all think they can ball like Rick Ross.
 
"Chronic over-allocation into real estate"

au Québec, on a la majorité si c'est pas tous nos avoir dans le real estate... On fait les mêmes bad moves qu'eux autre.
 
You would think that a lot of these athletes, mostly coming from modest backgrounds, would better understand the value of money.

78% of NFL players go bankrupt in 5 years of retirement? Idiots.

Makes me want to become a "Professional athlete accountant". Partially to help them, partially because it appears they wouldn't think twice about a $5k consulting bill.
 
skiline said:
what about soccer ???
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They have infinite amounts of money. Like beckham and his 150M deal for 3 years with Galaxy lol. Thats like 4-5 times a "lifetime" earning of an nba player.

We all have this problem though. Its just that our retirement comes later. If didnt handle your shit right or planned for it... Youre gonna have a bad time.

Their situation is just worse because of bigger numbers
 
Like already stated previously, same as anyone who wins the lotto or gets a large inheritance. Any very large sum to them is the equivalent of infinite.

Before they realize it, after buying a new car, a house, a few vacations and some lavish spending/dining/escorts, it's all gone, they are broke and cant maintain what they purchased.

And they are worth exactly the same before it all happened.
 
darkestfenix said:
Like already stated previously, same as anyone who wins the lotto or gets a large inheritance. Any very large sum to them is the equivalent of infinite.

Before they realize it, after buying a new car, a house, a few vacations and some lavish spending/dining/escorts, it's all gone, they are broke and cant maintain what they purchased.

And they are worth exactly the same before it all happened.
Click to expand...

yolo
 
Those sports are all dominated by black people (maybe not baseball), not our fault their priority with money is to 'look baller' and show off all the bling bling.

Oh well, you dig your own grave.

fun read
 
JasonYo said:
Yeah exactly, it's like when people win the lottery and end up spending it all.
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theres a story i read about guy who wins the loto qc + super 7 in all won 7 mill ... he bought ppl everything vipers houses etc + he had a spending habit of 10k+ on VLTS a day guy was fucked in the head ... when u win the loto twice in 4-5 years ... go hid under a rock
 
Not suprising at all. As said they come from modest and poor background and dont think about after their career. Its cool to own a 4 millions house 2-3 exotic car but when you retired and still have to pay for taxes and maintenance plus those bad financial moves could go quick.
 
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