Friday, March 13, 2015

Social: Blowing Millions, Another Pro Down And Out

Source:  Bleacher Report.

I am always sorry when I hear folks down on their luck.  I know people like that and I have been like that.  Now, another former NBA player blew millions and is now forced to work at McDonald's.  Somehow, he blew away nearly $4.4 million in earings from his basketball career. 

Most folks will never make close to that kind of money in their life time.  I know I won't. 

It all comes down to maturity and financial intelligence.  Too many of us lack one or both of that.  Again, myself included. 

If you want to watch a documentary about former professional athletes who ended up destitute, you should look at ESPN's "Broke". It's heart breaking to see stars who used to cheer talking about all the bad investments, irrational spending, and not saving for retirement. 

Of course, it is not just athletes.  There are those in Hollywood and the music industry who went through the same thing.  One day, you're making millions and the next day, it's all gone. 

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