Sunday night, star Quarterback for the Indianapolis Colts, Andrew Luck prematurely ended his career due to nagging injuries. Luck, who had earned over 100 million dollars in his career, is going to pack it up and live off of his earnings. Just last year we saw NFL star Adrian Peterson, who had also earned more than 100 million dollars in his career, file for bankruptcy.
Ramsey said, “When you go into an NFL locker room you have two kinds of people: Real stupid and real smart.” He says you cannot just play with a ball and think someone else is going to look out for your best interest.
According to a 2009 Sports Illustrated article, 78% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players go bankrupt within five years after leaving their sport. Originally the statement “60% of NBA players go bankrupt within five years after leaving their sport” was released by a representative of the NBA Players’ Association in 2008 – A study in 2009, which concluded that 78% of NFL players are either bankrupt or broke within 2 years of retiring
How is it these athletes can make hundreds of millions of dollars in some cases and can’t save it for even a few years? Probably not the same people I would be taking political advice from..