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re: 78 percent of NFL players are bankrupt...within two years
Posted on 11/7/13 at 2:26 pm to idlewatcher
Posted on 11/7/13 at 2:26 pm to idlewatcher
quote:
Don't they have some sort of financial learning course in the NFL?
It's part of the Rookie Symposium which lasts like a week. You can't learn to handle millions in a week class. The NFL needs to do a better job of guiding these athletes as well. The point I was intending to make is I can understand how easy it could be to say "hey I am gonna make millions so why try to learn anything." The rule of only being away from high school for 3 years to play in the NFL and only 1 year to play in the NBA should be changed. You should be required to have some sort of degree to play in both leagues. That way you ALWAYS have something to fall back on.
2
Posted on 11/7/13 at 3:07 pm to Mizzou23
quote:
Don't they have some sort of financial learning course in the NFL?
It's part of the Rookie Symposium which lasts like a week. You can't learn to handle millions in a week class. The NFL needs to do a better job of guiding these athletes as well. The point I was intending to make is I can understand how easy it could be to say "hey I am gonna make millions so why try to learn anything." The rule of only being away from high school for 3 years to play in the NFL and only 1 year to play in the NBA should be changed. You should be required to have some sort of degree to play in both leagues. That way you ALWAYS have something to fall back on.
Andre Collins handles financial advising for the NFLPA for players that seek investment advice. Obviously not as many do as they should.
Posted on 11/7/13 at 3:27 pm to Mizzou23
quote:
You can't learn to handle millions in a week class
Hire...a...financial...advisor
quote:
The NFL needs to do a better job of guiding these athletes as well
quote:
The rule of only being away from high school for 3 years to play in the NFL and only 1 year to play in the NBA should be changed. You should be required to have some sort of degree to play in both leagues. That way you ALWAYS have something to fall back on.
The NFL and the NBA should set the rules in their own best interests and nothing else.
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