Why do so many former NFL players go broke?

[Enhance]

I think the most obvious course of action is to stop paying these guys comedic amounts of money for doing (in the grand scheme of things) irrelevant work. A doctor who performs quadruple bypass surgery isn't in the same stratosphere of some athlete salaries; yet, I think everybody would agree the doctor's work is far more valuable to the society.

 

Of course, this is never going to happen. Our society's foundation is one of paying high money amounts for wants and low money amounts for needs. So, I agree with Lil' Red, to a capacity. The real available option is to educate these guys about life - you can't play forever; your money can (and will) run out if you don't respect it.

[HuskerShark]

When you're so used to spending however much money you please and are never forced to pinch pennies in your entire life, it's pretty easy to go broke once that steady excessive stream of cash stops flowing in. I would know

 

But in all seriousness, that's how it works.

[RedRedJarvisRedwine]

When you're so used to spending however much money you please and are never forced to pinch pennies in your entire life, it's pretty easy to go broke once that steady excessive stream of cash stops flowing in. I would know

 

But in all seriousness, that's how it works.

Yeah... Accruing so many things that depreciated in value will get ya everytime. Things like cars, RVs, motorcycles, boats, wives, you know things that lose their value!

[Enhance]

When you're so used to spending however much money you please and are never forced to pinch pennies in your entire life, it's pretty easy to go broke once that steady excessive stream of cash stops flowing in. I would know

 

But in all seriousness, that's how it works.

I don't think that's how it works at all, unless you're being sarcastic in your entire post and not just the one line.

 

"Entire life?" No. Most NFL athletes come from middle class and lower class families, meaning they didn't have a lot of disposable income growing up. They should already know what it's like to not be rich.

 

They hit college, become superstars, go to the NFL and bam - showered with praise and money. Their lack of discipline or education growing up is what caused their idiotic spending habits, not their intense amount of money. Warren Buffet has more money than any NFL athlete will every make, and he leads a humble albeit comfortable life. It's purely, simply, and unequivocally, about education/responsibility. I don't buy the idea that they're "used to spending money." They should be more responsible adults. It's pretty easy.

[HuskerShark]

When you're so used to spending however much money you please and are never forced to pinch pennies in your entire life, it's pretty easy to go broke once that steady excessive stream of cash stops flowing in. I would know

 

But in all seriousness, that's how it works.

I don't think that's how it works at all, unless you're being sarcastic in your entire post and not just the one line.

 

"Entire life?" No. Most NFL athletes come from middle class and lower class families, meaning they didn't have a lot of disposable income growing up. They should already know what it's like to not be rich.

 

They hit college, become superstars, go to the NFL and bam - showered with praise and money. Their lack of discipline or education growing up is what caused their idiotic spending habits, not their intense amount of money. Warren Buffet has more money than any NFL athlete will every make, and he leads a humble albeit comfortable life. It's purely, simply, and unequivocally, about education/responsibility. I don't buy the idea that they're "used to spending money." They should be more responsible adults. It's pretty easy.

 

Until they hit the NFL (or at least college) they are most likely not in charge of their finances. Once they start pulling in the money, most of them hire accountants or someone to handle their money. However, that person rarely has a say-so in what the athlete spends his money on.

 

Seriously, I know that if I were to ever get used to making a lot of money and then all of a sudden I make almost nothing, I would struggle to make cuts in how I spend thing too. And I'm a minimalist. Being in college and paying for my own schooling, I have to be.

[PaulCrewe]

It is plainly obvious why these guys go broke and here it is