Financial lessons from broke sports stars
Posted on October 3, 2011 2 Comments
I watched the documentary “Tyson” last night; to say he is a complicated, flawed figure is an understatement. The documentary itself was fascinating, and the footage of Tyson’s early fights, before he stopped caring, was breathtaking. He moved so fast I couldn’t even see his fists at times.
One of the central questions the documentary explores is this: how does someone who has the world at his feet fall to zero so quickly? As Tyson himself says, he only knows how to be at “the top of the world, or the bottom of the ocean.” For him, and so many others, there is no in between.
As I was pondering some of those questions, I came across this article from the New York Times that I’m happy to share:
Financial Lessons From Sports Stars’ Mistakes
By Ron Leiber, The New York Times
Click on the link to read the story.
I figured this is a nice balance to yesterday’s article about my hair. I, too, can be complicated. 
Category: Money
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2 Responses to “Financial lessons from broke sports stars”
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October 3rd, 2011 @ 4:48 pm
I read an article about a year ago that said 69 percent of former NFL players will go bankrupt within two years of retirement and 50 percent will get divorced within five years.
It makes sense, we start giving them so much attention at at such a young age. They only know life in the spotlight
October 5th, 2011 @ 3:47 am
Very interesting — and yes, most definitely lessons from that article for everyone, regardless of their financial position.
People just so seldom think, though — and when they “hit it rich,” they think it’s always going to be that way (it’s not!). There are flush times and lean times…one must have the discipline to save from the flush to help flesh out the lean.