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re: 78 percent of NFL players are bankrupt...within two years
Posted on 11/7/13 at 2:11 pm to Mizzou23
Posted on 11/7/13 at 2:11 pm to Mizzou23
Many NFL players come from poverty.
When you come from poverty, you can't fathom a million dollars. It literally seems infinite to you.
That's why a lot of lotto winners go bankrupt too.
When you come from poverty, you can't fathom a million dollars. It literally seems infinite to you.
That's why a lot of lotto winners go bankrupt too.
Posted on 11/7/13 at 2:20 pm to genro
quote:
Many NFL players come from poverty.
When you come from poverty, you can't fathom a million dollars. It literally seems infinite to you.
That's why a lot of lotto winners go bankrupt too.
Don't they have some sort of financial learning course in the NFL?
Posted on 11/7/13 at 2:25 pm to genro
quote:
Many NFL players come from poverty.
When you come from poverty, you can't fathom a million dollars. It literally seems infinite to you.
That's why a lot of lotto winners go bankrupt too.
when people come from nothing and are never taught how to manage money they end up blowing it all b/c they don't know any better.
IMO the average pro athlete going broke so quickly is a condemnation of the colleges who clearly did little to prepare them for the real world.
This is actually a bigger issue I have with colleges and universities in general though. As far as I'm concerned every single school should have financial management classes as a requirement to graduate. In fact, I think it should also be taught in high schools starting freshman year.
quote:
ZereauxSum
Yup. At the rookie symposium I believe.
and that isnt near enough education for people to change years of never knowing anything about keeping your finances in order.
This post was edited on 11/7/13 at 2:28 pm
Posted on 11/7/13 at 2:38 pm to genro
quote:
Many NFL players come from poverty.
When you come from poverty, you can't fathom a million dollars. It literally seems infinite to you.
That's why a lot of lotto winners go bankrupt too.
yup. easy come, easy go.
Its the players fault though. They could collectively bargain a more robust pension plan if they were willing to take less money up front - but they wont.
Posted on 11/7/13 at 4:16 pm to genro
quote:
Many NFL players come from poverty.
When you come from poverty, you can't fathom a million dollars. It literally seems infinite to you.
That's why a lot of lotto winners go bankrupt too.
I don't want to sound insensitive here, and I realize most of these guys come from a much worse financial place as a kid than I did. But every time I hear this I think it's a nice way of saying they're stupid
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