[Alberta's Child]

They had a great segment on ESPN with a financial planner on this subject a while back. The pointed out that one of the challenges with professional athletes is that their careers are “backwards” from a financial planning perspective. With almost any other career, a person doesn’t enter their peak earning years until they are in their 40s and 50s. With an athlete, their peak earning years can be over by the time they’re 30-35. As a result, even good financial planners would often make mistakes when advising their clients on protecting (and growing) their assets for the rest of their lives.

[painter]

In the NFL a star athlete in his rookie year can have a career ending injury.

If I where to advise an athlete with a BIG contract is to take a good chunk of it and invest it in a high quality Municipal bond fund. They pay around 4% TAX free.

[Hot Tabasco]

With an athlete, their peak earning years can be over by the time they’re 30-35. As a result, even good financial planners would often make mistakes when advising their clients on protecting (and growing) their assets for the rest of their lives.

The biggest problem I see with the wasted fortunes of athletes is the ignorant ones who grew up living for the "now" of their fame and fortune.

The ones who squander their money on bling, fast cars, mansions and whores..

Not surprising is the vast majority of these squanderers are blacks...It's apparent that not even their "Agents" can control their clients and thus they end up in poverty.........

Almost every single professional athlete makes more in a year than I've made in my entire life............

I have no sympathy for those idiots......