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Originally posted by: Tim Murtaugh
You're so right. Hard to believe such a high % of pro athletes are so leveraged, living from paycheck to paycheck. You'd think there'd be at least some who have an idea how to set up a budget and put something away for retirement.
Tim
A close friend of mine's brother worked for the Denver Broncos a few years back. He mentioned that all most all of the agents and financial advisors advise them to "lease" their vehicles. Rent a mid-range condo and so on. Most don't listen as they have never had money before and think that money train ain't stoppin for them. Sad to say it does pretty quickly.
The NFL and most pro sports have required workshops for rookies to attend to teach them about "saving" their money. Some folks just don't want to listen. Easily made and easlier lost!