It is kids with no money with no education on the topic and no interest in the mundane side of saving, who then hit the lottery. 78% of NFL retirees are broke 2 years after the league. 70% of NBA players after 5 years. If you read the articles on this topic (I find this topic fascinating) you learn that the number # issue is bad investments through disreputable sources like family and friends. I think it was Magic who said that he gets calls from young stars all the time wanting to discuss financial investing for longevity. The first question he asks them is "Who is handling your money". If they say a personal friend, family friend, brother, sister, Mom or Dad, Uncle, Aunt, he tells them to discontinue that practice, hire professionals and not to call him again until they have accomplished that one simple thing.
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