I saw this in a webinar:
A Sports Illustrated article reports that 78% of NFL players and 60% of NBA players face serious financial hardships after retirement (source)
Sports Illustrated estimates 78% of NFL players face financial trouble within two years of leaving the game, and another 60% of NBA players are in the same boat five years after retirement (source)
My take on this?
It is not how much you earn, it is about how you expend it.
You need to know the difference about active asset and passive asset.
References
- https://vault.si.com/vault/2009/03/23/how-and-why-athletes-go-broke
- https://www.abi.org/feed-item/how-athletes-go-bankrupt-at-an-alarming-rate
- https://cyndeowp.com/the-five-main-reasons-professional-athletes-go-broke/
- https://bolavip.com/en/nba/nfl-and-nba-players-who-lost-millions-and-went-broke-after-retiring
- https://www.investopedia.com/financial-edge/0312/why-athletes-go-broke.aspx