4 ms·

Brain damage has very little do with why these guys go broke

• DoreenMichele 9y ago
  Probably true. But I wasn't positing an explanation for why they go broke. I was only suggesting that brain damage is a de facto barrier to successfully making that money last a lifetime, which most of them fail to do. The argument that, hypothetically, this is enough money to live on for life is rather specious since few of them actually do so. Being an NFL player for a few short years is not a well known path to permanent financial security and ability to cavalierly choose to not bother to work ever again.
  • smsm42 9y ago
    > The argument that, hypothetically, this is enough money to live on for life is rather specious since few of them actually do so. But this is not because they don't get enough money and more money would fix it (well, it it could be $trillions then maybe but it is never going to be that). It's because they don't have the right tools (widely understood) to manage their money properly, and their income structure is unlike income structure of many regular people (huge sums for very short period, then nothing - as opposed to much smaller sums over much longer period) and it requires very unobvious actions to make it work. If you have literally millions of dollars in your account, it's very hard not to buy some nice expensive things - even if you know you'd need those millions for decades to come, your brain doesn't really work this way. Some people manage it properly and create brands and side businesses for themselves or just live with reasonable expenses and are ok. Some spend too much and end up broke.
    • DoreenMichele 9y ago
      I never suggested more money would fix it. Just that multiple concussions are likely a serious handicap for being able to accomplish something most people can't pull off to begin with.