When athletes go pro, they usually don't know how to handle the large amount of money they earn. According to Tiffany Patterson, 60% of NBA players are broke within five years of retirement. "Many of these players blamed poor investments, trusting unethical financial advisors and lavish spending habits as the reason for their money troubles"(Patterson, 2016). This is a surprising statistic, and that number could be reduced if the athletes were taught how to manage their money at a young age. When professional athletes first experience wealth, they usually don't know how to handle their money. If they had experience from college, they would know how to use their money responsibly. Paying college athletes would also make them more likely to stay in school longer (Peebles, 2015). A lot of college players go professional as soon as they can because they want the money and fame. However, staying in college longer would make them more educated and it would give them more time to get better at their
When athletes go pro, they usually don't know how to handle the large amount of money they earn. According to Tiffany Patterson, 60% of NBA players are broke within five years of retirement. "Many of these players blamed poor investments, trusting unethical financial advisors and lavish spending habits as the reason for their money troubles"(Patterson, 2016). This is a surprising statistic, and that number could be reduced if the athletes were taught how to manage their money at a young age. When professional athletes first experience wealth, they usually don't know how to handle their money. If they had experience from college, they would know how to use their money responsibly. Paying college athletes would also make them more likely to stay in school longer (Peebles, 2015). A lot of college players go professional as soon as they can because they want the money and fame. However, staying in college longer would make them more educated and it would give them more time to get better at their