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How (and Why) Athletes Go Broke
- ryanwaggoner 18y agoReally interesting article, well written, and all on one page. Reminds me of this Philip Greenspun piece on early retirement: http://philip.greenspun.com/materialism/early-retirement/ http://philip.greenspun.com/materialism/early-retirement/ One of my favorite pieces of advice on not getting swindled I think comes from Oprah: always be the only person who can sign your checks. You'd be surprised how many people who come into sudden wealth give someone else they barely know the keys to the vault without a second thought.
- stcredzero 18y agoThe proportion allocated to REITs and Hedge funds is a bit higher in the Harvard and Yale allocations that Greenspun mentions.
- awt 18y agoSage advice indeed.
- brandnewlow 18y agoIn case you want to let SI make a few cents for your time, here's the article on their site: http://vault.sportsillustrated.cnn.com/vault/article/magazine/MAG1153364/index.htm http://vault.sportsillustrated.cnn.com/vault/article/magazin...
- robg 18y agoI can see clickability taking a cut but not the whole pie.
- Evgeny 18y agoShouldn't the article be rather called 'How people who make poor financial and investment decisions go broke?' I don't think the fact that they are athletes is the deciding factor in their financial problems.
- ninguem2 18y agoIn the case of athletes, it gets exacerbated by the fact that they are often young, uneducated, distracted by their sudden fame and very visible.
- patio11 18y agoAnd that they have nine kids by nine different mothers. (That is not hyperbole, that is an example from the article.) I'm trying to summon up sympathy but failing miserably.