Professional Athletes And The National Basketball Association

847 Words Sep 30th, 2014 4 Pages
Most people would say ten million dollars lasts someone a lifetime, and in most cases this is true. The exception to the rule is about sixty percent of professional athletes. Some, who are making double, even triple that amount of money in five to fifteen years. Professional sports is one of the main entertainment sources in the United States, and most of the country’s most beloved athletes play in one of the following three professional leagues: the National Football league, Major league Baseball, and the National Basketball Association. There are many ways a professional athlete can become broke after retiring, but the majority struggle financially because of the following four reasons: the lure of the tangible, misplaced trust, family matters, and great expectations (“How and Why Athletes Go Broke”). The ‘’lure’’ of the tangible is one of the main reasons young athletes find themselves with no money upon reaching the age of retirement. The majority of people would think by tangible goods one is referring to the houses they buy, or maybe all of the fancy cars and jewelry many athletes have; but this is not the case. When one talks about these players getting sucked in by tangible goods he or she is referring to the investment opportunities athletes are lured into by unreliable businesses or entrepreneurs (“How and Why Athletes Go Broke”). Instead of investing their money into stocks or mutual funds, they want to invest in something they can physically see or touch, like…

Related Documents