Why Do Athletes Think That Their Money is Never-Ending?
Many have such an opportunity to never have to work again after their playing career if they invest their money correctly. Sadly, the case of Antoine Walker is one that is all too common. Many athletes take care of extended family and friends in an unlimited fashion. Some have a wife who hasn’t learned to deal with the finances. There are times that the wife’s family becomes a financial burden as well. They don’t know how to say no or they are guilted into financially supporting people. It is disappointing to hear that someone who earned over $100 million dollars in their career must file bankruptcy. Where were the financial advisers? Where was a wife or family member who just put their foot down and said “No more!”? Many athletes enter into the arena of professional sports with no solid financial background. What is the NBA, NFL,MLB, and NHL doing to prepare them? Yes, they have rookie symposium and brief seminars to remind them of the dangers of picking the wrong financial advisor or
