It's not only athletes, people without money that inherit large amounts and big lottery winners have a high bankruptcy rate after 5 years. It is about investing and conserving your spending habits I guess.
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Why do 80% of Multi millionaire athletes go broke after retiring within 5 years????
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I suppose you get a lot of "friends" when you become rich who want your money, plus if you have been a big money star for a long time or since you were young you would get used to spending lots of money. Its not that hard to look after your money tbh.
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Originally posted by titanium View PostIt's not only athletes, people without money that inherit large amounts and big lottery winners have a high bankruptcy rate after 5 years. It is about investing and conserving your spending habits I guess.
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Originally posted by Disposable Arts View PostYou forgot the agents/managers who rape them of their money, but anyone whos dumb enough to trust another man with their finances.. deserves to be robbed IMO.
Thats why I respect B-Hop so much, hes been a boring ass fighter for the last 5 years or so.. but has invested his money wisely that he'll never go broke and when he retires, will have more than enough for his family to live off.
Bhop is old as freakin hell. I think he's retiring after the pascal fight. he should anyway.
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Seriously though, did Holyfield moved all of his family, relatives, long lost relatives, and close friends in with him in that house? What did he need the rest of the rooms for?
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Originally posted by reedickyaluss View PostLike in Florida and Cali... right?
Like you said, pro athletes get used to a certain lifestyle and continue to live that way long after the money keeps pouring in. And not all of them are smart enough to invest in boats.
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