Saturday, September 19, 2009

10 Ways Sports Stars Destroy Their Finances

Clusterstocks' Business Insider's 10 Ways Sports Stars Destroy Their Finances:

"A Sports Illustrated article this year showed how shockingly common financial ruin is:

* By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress......
* Within five years of retirement, an estimated 60% of former NBA players are broke.
* Numerous retired MLB players have been similarly ruined"

WOW. Sad. Talk about a version of the Free Cash Flow problem.

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