I’ll assume for this conversation we are referring to black and latino athletes in the US. In that case, a lot of it comes down to family. A $10 million contrac

I’ll assume for this conversation we are referring to black and latino athletes in the US. In that case, a lot of it comes down to family. A $10 million contract is a life changing windfall for a single unnattached person with no extended family to support, or whose extended family already is self sufficient (as a much greater proportion of white people in the US naturally are). But when you are the first person in your entire family tree to have above a 5 digit net worth, you immediately become liable for everyone, and it can quickly go to squat. Its called the “brown tax”. Escaping poverty can be almost impossible for an individual when they are weighed down by these obligations. It doesnt matter how financially literate you are when your aunt is being evicted from her apartment or your cousin needs bailed out of jail.