Athletes Go Broke

Athletes Go Broke

Sixty percent of the NBA's former players are broke and bankrupt within 5 years of retiring from the league.

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Once you begin to play sports seriously, you will most likely spend a lot of time at it. Between games, practice, and weight training, more time than you think will be spent striving to become a better player. Because of this, there's a good chance you'll have little time left for anything else.

In 2009, Sports Illustrated did a study of former NFL and NBA players.

This is what the study showed:

After only 2 years of retirement, 78 percent of NFL players were either broke or struggling financially. Within 5 years of retirement, 60 percent of NBA players are broke.

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