{"id":2757,"date":"2012-05-04T07:55:56","date_gmt":"2012-05-04T12:55:56","guid":{"rendered":"http:\/\/www.mdmproofing.com\/iym\/weblog\/?p=2757"},"modified":"2012-05-03T21:31:17","modified_gmt":"2012-05-04T02:31:17","slug":"pro-athletes-going-broke","status":"publish","type":"post","link":"https:\/\/www.mdmproofing.com\/iym\/weblog\/2012\/05\/pro-athletes-going-broke\/","title":{"rendered":"Pro Athletes Going Broke"},"content":{"rendered":"

Well, if you were wondering just how great professional athletes are at managing their money, Sports Illustrated<\/i> has the ticket:<\/p>\n

SI:<\/i> How And Why Athletes Go Broke<\/a><\/span><\/p>\n

As far as the article goes, here’s your two-minute drill:<\/p>\n

\n

In a less public way, other athletes from the nation’s three biggest and most profitable leagues\u2014the NBA, NFL and Major League Baseball\u2014are suffering from a financial pandemic. Although salaries have risen steadily during the last three decades, reports from a host of sources (athletes, players’ associations, agents and financial advisers) indicate that:<\/p>\n

\u2022 By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.<\/p>\n

\u2022 Within five years of retirement, an estimated 60% of former NBA players are broke.<\/p>\n<\/div>\n

I mean, those figures are just plain brutal. But not surprising.<\/p>\n

It’s a very long article, as these things go, but well worth a read if you follow pro sports and athletes (and their foibles).<\/p>\n","protected":false},"excerpt":{"rendered":"

Well, if you were wondering just how great professional athletes are at managing their money, Sports Illustrated has the ticket: SI: How And Why Athletes Go Broke As far as the article goes, here’s your two-minute drill: In a less public way, other athletes from the nation’s three biggest and most profitable leagues\u2014the NBA, NFL […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,17,66],"tags":[],"class_list":["post-2757","post","type-post","status-publish","format-standard","hentry","category-debt","category-news","category-spending"],"yoast_head":"\nPro Athletes Go Broke<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mdmproofing.com\/iym\/weblog\/2012\/05\/pro-athletes-going-broke\/\" \/>\n<meta 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