[SI]Within five years of retirement, an estimated 60% of former NBA players are broke

Sounds very similar to numbers for lottery winners.

 

Well in the 80's and 90's because guys generally made only 1-2 million. Nowadays guys make 15+ million a year. Hard to imagine going broke now.

 

There is a difference.

An avg Joe may live beyond his means but he pulls in money every year for the rest of his life (even at a minimum wage job)

An athlete lives beyond his means and only pulls in money for 5-10 years.

 

I wonder why people are so fascinated with watching people "fall from grace"

 

One more reason why we shouldn't pay athletes so much. :grin:

 

I am guessing Shane Battier, Luis Scola, Aaron Brooks, and Yao Ming will be in the 40%.

A few of the other Rockets I am not so sure about. I love Ron Artest, but if he were a corporation, I'd be shorting his stock.

 

Probably more efficient use of money than has been tried so far....

 

A legit business of helping athletes manage their assets and themselves would make a lot of money. Why aren't there more people doing this?

 

There are many people doing this and making a good living out of it. That's why those players are broke.

 

Not all. Just people we hate.

Quitten comes to mind. I enjoy the hell outta watching him fail post-nba career.

 

So is Etan Thomas going to write a letter to SI like he did to Andrew Bogut?

 

hells yeah...gotta make it rain biatch!!!


I remember reading that a long time ago...great read and sad...I always thought there would be places that would help/assist people, athletes or not manager there money in a safe and effective manner...I mean, they can't be athletes and healthy forever...sadly, that's not the case...I should start my own business to help them out...

 

I am talking about LEGIT business that prevent its clients from going broke.

 

Schwab, Vanguard, Fidelity.

 

Sounds like they should put more into pension each year.

 

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