Interesting, but I have to say, not that surprising...
Quote:
Professional athletes can make incredible amounts of money, but their earning window tends to be for a relatively short period of time. Kathleen Pender of The San Francisco Chronicle shares a couple of disturbing trends courtesy of Sports Illustrated magazine:
? 78% of former National Football League players go bankrupt within 24 months after they stop playing.
? Some 60% of former National Basketball Association players go bankrupt within 5 years of retirement.
What's going on here? Economists talk about "marginal propensity to consume" (MPC), an economic theory that says as income rises, spending rises in tandem.
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http://clarkhoward.com/liveweb/shown...9/06/29/16084/