Sports Illustrated - 60% of NBA players broke within 5 years
Most of us do not have much sympathy for athletes that get paid millions and turn out to be broke few years after they retire. But after reading this article, you might.
According to SI, “within five years of retirement, an estimated 60% of former NBA players are broke”.
It makes you wonder is there an ongoing systemic risk? Should the professional leagues intervene?
During this recession, we have seen many millionaires lose tons of money. But with athletes, the situation intensifies by the fact that they are often young, uneducated, inexperienced, and distracted by their sudden fame.
SI did an excellent job in coving this topic from many different points of view. This article is a must read!
According to SI, “within five years of retirement, an estimated 60% of former NBA players are broke”.
It makes you wonder is there an ongoing systemic risk? Should the professional leagues intervene?
During this recession, we have seen many millionaires lose tons of money. But with athletes, the situation intensifies by the fact that they are often young, uneducated, inexperienced, and distracted by their sudden fame.
SI did an excellent job in coving this topic from many different points of view. This article is a must read!
