Almost 80 percent of National Football League players are flirting with bankruptcy two years after they retire, according to Sports Illustrated. NBA players aren’t faring much better. 60 percent of former National Basketball Association players end up broke within five years of retirement.
The article goes on to list examples, but I couldn't get past the initial statistics. 80% bankruptcy indicates some seriously expensive hand to mouth living while the dollars are rolling in.
These guys often make enough to retire on in their first year. Simply live off the bond, treasury, or CD interest. The Kennedy family figured that out.
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