The Stories Behind Broke Athletes
If you're looking for the most admired people, you'll have to look at professional athletes. Their ability to perform at the very highest level under the biggest lights and the highest pressure is truly astounding. In any sport, an athlete can become legendary because of one truly memorable action on the field of play. As you might imagine, the kind of superior performance that these athletes generate tends to come with an equally superior level of pay. Almost every professional athlete will have a contract that gives them over a million dollar almost every single year.
As you might suspect, though, it is impossible to insure someone against the possibility of losing all of their money. There are all sorts of situation that will lead to an athlete going broke. People are fascinated by athletes going broke, though, because they make so much every year. Within all of these broke athlete stories, you can find a couple of common trends. If you'd like to learn about broke athletes and why it might happen, take a look at the reasons listed below.
Most athletes who become broke do so simply because their habits led to them spending all of the money they've earned. Almost every professional athlete did not come from a family of wealth. The money and success they have stems directly from their ability to play their sport. While this is a very admirable achievement, you can see how it would lead to financial problems. It is a very common thing for someone who receives a lot of money after years of having none to become careless with their spending. You'll find them buying very extravagant items, and they will just generally act quite irresponsible when they have money. It's hard to convince athletes who have a lot of money that this money will be gone at a certain point if they do not curb their habits.
An athlete can become broke, too, if they have bad managers. Any financial manager that you talk to will tell you that it's important to invest your money. However, as you may already know, some investments are more of a smart move than others. Many athletes are simply given bad advice concerning investments, which leads them to lose their money in poor ideas. Visit the linked site to learn more about Curt Schilling loses 50 million.
Early retirement may be another common cause for why athletes go broke. An athlete is someone who is constantly at risk of being injured so horribly that he must quit playing sports. If you can't work, you can't make money. It's easy to see this as the truth. For more info about Antoine Walker loans, follow the link.
As you might suspect, though, it is impossible to insure someone against the possibility of losing all of their money. There are all sorts of situation that will lead to an athlete going broke. People are fascinated by athletes going broke, though, because they make so much every year. Within all of these broke athlete stories, you can find a couple of common trends. If you'd like to learn about broke athletes and why it might happen, take a look at the reasons listed below.
Most athletes who become broke do so simply because their habits led to them spending all of the money they've earned. Almost every professional athlete did not come from a family of wealth. The money and success they have stems directly from their ability to play their sport. While this is a very admirable achievement, you can see how it would lead to financial problems. It is a very common thing for someone who receives a lot of money after years of having none to become careless with their spending. You'll find them buying very extravagant items, and they will just generally act quite irresponsible when they have money. It's hard to convince athletes who have a lot of money that this money will be gone at a certain point if they do not curb their habits.
An athlete can become broke, too, if they have bad managers. Any financial manager that you talk to will tell you that it's important to invest your money. However, as you may already know, some investments are more of a smart move than others. Many athletes are simply given bad advice concerning investments, which leads them to lose their money in poor ideas. Visit the linked site to learn more about Curt Schilling loses 50 million.
Early retirement may be another common cause for why athletes go broke. An athlete is someone who is constantly at risk of being injured so horribly that he must quit playing sports. If you can't work, you can't make money. It's easy to see this as the truth. For more info about Antoine Walker loans, follow the link.