Why NBA Players Go Broke and How To Avoid It

According to Bleacher Report, [February 29, 2012], 60% of NBA players file for bankruptcy within five years after retirement! Don’t be next!

In our opinion, NBA Players go broke for four main reasons.

First, their egos! Don’t forget, these are young men in their late teens to early thirties. Do you remember how you behaved before life beat the crap out of you? The personality trait that helps them achieve success on the court, often time dooms them off. With an abundance of money, power and celebrity no wonder so many wind up broke!

Second, many players are taken to the cleaners by the very people they trust most – agents, advisors, families, friends, and associates.

Third, many are influenced by pop culture to live reckless lifestyles.

Fourth, it’s not unusual for players to have little-to-no financial education. They trained all their lives to be professional athletes, not financial managers.

We seek to inform, not attack. It is very unfortunate to see so many young men’s lives damaged in such public, humiliating, and unnecessary ways. Read more on our blog and share it with those who can benefit.