Why do so many NFL players go bankrupt?

[Schneed10]

Originally Posted by SmootSmack

A lot of these athletes put their trust in people they shouldn't. Even if they should, you should never put 100% trust in anyone else when it comes to managing your money. I've also seen a lot of these people invest money in their friends' businesses or even just business ideas. And if/when they try to get out of it they're faced with the guilt trip of "Aw man, you've changed. Forgot about us"

When it comes to trusting the wrong people, I agree, that's just as retarded. I mean how hard is it to simply leave all your money in a savings account until you've gotten yourself a little more educated on how to handle money?

If you piss it away you have only yourself to blame. Lack of foresight, lack of understanding, lack of thought put into it, lack of judgment when selecting money managers, it all comes back to the athlete.

[saden1]

Originally Posted by Schneed10

When it comes to trusting the wrong people, I agree, that's just as retarded. I mean how hard is it to simply leave all your money in a savings account until you've gotten yourself a little more educated on how to handle money?

If you piss it away you have only yourself to blame. Lack of foresight, lack of understanding, lack of thought put into it, lack of judgment when selecting money managers, it all comes back to the athlete.

What is a savings account?