Professional Athletes Going Bankrupt
 

Interesting, but I have to say, not that surprising...

http://clarkhoward.com/liveweb/shown...9/06/29/16084/

too much bling bling

It actually happens to tons of people; but athletes are always in the spotlight.

The money seems like it will last forever but of course it doesn't.

It would be interesting to see the percentage of hockey players that go bankrupt.

these guys are athletes , not financial wizzards. I bet a lot of time they get taken to the cleaners by their so called advisors.:2 cents:

This is true...

It's not that the money won't last forever... if invested wisely it will last them beyond their own lifespan (to their children, granchildren, etc).

It's a matter of spending beyond their means... and you're right this does happen to a lot of people besides athletes. Average earning people look at these super athletes and think they'll be rich their whole life, well take another look.

Exactly right.

That's unfortunate, but a lot of millionares and professional athletes do go bankrupt sometime in their lives. And athletes are not even in the financial field, so they could be bad at managing their own money.

Would that also mean spending falls as income decreases? Its not spending, its debt. You dont go bankrupt if you have no money, you go bankrupt if you have debt.

Mark Philippousis is another. Blew all his tennis winnings, what a twat LOL.

money is meant to be spent