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Why do most boxer become broke after their career is over
I just thought about all the champs that held one of the greatest titles in the world and when the applause stop and after all the entourages it,s just them and no money... Also thinking about how mayweather came back to fight again only because of money troubles. Is there no positive people in these people lives??? I mean look at tyson and i only mention him because he is now in debt and dam near broke but, we know he been married i don,t know how many times so i can see where most of his money went but, floyd on the other hand never been married and i know, tyson probably made 10 times what floyd made but, after seeing champs flat broke and you just piss your money away and think it,s cool to do so is rediculous... There,s no reason why any of these fighters of today should be anywhere near broke because of the paydays their getting... Now back in the days, those guys had to fight 4 times or 5 times a year just to keep there home and cars but now, there getting 1 mill. And up if there popular fighters and have a great fan base, so if anyone know these guys who are in the spotlight, please pull them to the side and give them some positive feedback on what,s a good investment such as property, real estate and please don,t spend your money on 100,000 gold chains and convertible bentley,s and sht like that... But at the end of the day, these people will do what they want but, there,s nothing wrong with giving some positive motivation to these guys... Example: Larry holmes own dam near half of pennsylvania if that,s the state, i can,t rememeber but you get my point...
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Would go a long way into making your thread understandable. -
taxes .....................................Comment
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Most of these guys never had money to begin with. Once they become wealthy, they begin spending it and get out of control. They were never taught how to manage their money and a lot of them just live for that time and don't think about the future. They buy all kinds of expensive ***** that they don't even need. After their careers are over and that money is not coming in, they are still spending like they were before. Thats the whole problem is that they get used to living that type of life style of spending and can't stop them selves. In the end, they lose it all.Comment
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I think Boxing effects the rationalization of some of these guys after a long sustained period of taking blows to the head.
In some cases i think you can become subject to irrational behavior because of the head trauma in the ring.Comment
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Many come from poor backgrounds and don't know how to handle money. You might know how to handle money because your parents taught you the value of it, many of these guys never had that.
Basically what RossCA said.Comment
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De La Hoya has 700 MILLION dollars, but all that money did not stop pacquiao from beating his ass.Comment
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The biggest reason imo is because you become accustomed to a particular lifestyle when the dollars are flowing in. When you retire and that money isn't coming in anymore, it's hard to adjust that lifestyle.
If you are spending more than you are making, it is only a matter of time before you go broke.Comment
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It's simply because when a young man who has never had a lot of money suddenly get's rich, he makes bad choices with it, and soon goes under. If we lived in a perfect world where all fighters knew how to handle money, there would be so much less former world champs and former elite fighters fighting it wouldn't be funny.Comment
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