TIL – According to a 2009 Sports Illustrated article, 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress

Read more: http://www.espn.com/30for30/film/_/page/broke

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  1. Almost like buying a mansion, multiple high end vehicles, tons of jewelry, and treating yourself to the finest everything all the time is unsustainable long term. The taxes in most states alone for the properties will bankrupt you faster than fuck.

  2. they should pay out 50% of the money in montly payments during 30 years.

    But I have seen this problem in some rich friends, they got money – it will be spent, no savings at all.

  3. This is why financial literacy should be taught in schools, instead of useless trivia no one cares about. How does knowing the capital of Wyoming stop you from mismanaging your resources?

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