Why do most boxer become broke after their career is over

[Khalid X]

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.

Absolutely correct. Also I would like to add that its one thing to make a lot of money in boxing but Its what you do once your career is over. Oscar is a perfect example of this. Yeah he made a ton of money boxing, but he developed a hustle outside of him fighting inside the ring. He founded a promotional company, something that he can continue to use to generate income even though he is unable to make a living as a prize fighter.

Even a simple hustle such as Tarver doing broadcast, Vargas doing a few moneys, Collazo having a few barber shops etc goes a long way as far as having an income still coming in once your boxing days are over.

[paulf]

IRS
Managers
IRS
Managers
IRS
Managers

Say you have a 50,000 fight and a 25,000 fight in a year. Thats only 75,000. You can bet at LEAST 33% is going to taxes. Whats your manager taking? 15%? Whos knows what your trainers getting.

Say you end up with half(which you wont), now you only have 37,000. If you lost one of those fights, you probably wont make that much next year.

It's a hard sport for all but a lucky few.

[kedashy]

I here ya...got dam shame...

[Allucard]

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...

Actually gold if a semi-good investment. Otherwise i agree with your post. It has to do with these guys not being used to having money and thinking it MUST be spent. Also the people around them are leeches for most and have no income by themselves depending exclusively on the star boxer. They live on the edge. But there are exceptions: Lewis, Foreman, Eubanks, they are doing fine.

[roxy]

There are so many reasons this happens, most of them are mentioned already. It is lot like all those people that win the lottery and are broke three years later. Which is a large %.