Higher education is a key facet that many professional sports athletes lack. Not all, but a large number of professional athletes lack this needed higher education. Think, they have multi-million dollar contracts being waved in front of their faces, why would these young adults stay in school when they can become instant millionaires? In Pablo Torres’ Sports Illustrated entry, “How (and Why) Athletes Go Broke,” Raghib Ismail, a former number one NFL draft picked states that “[He] once had a meeting with J.P. Morgan and it was litera...
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... make is more than enough to sustain an easy lifestyle for the rest of their lives if managed properly. Not only should they be able to live comfortable they have more than enough money to better the community around them on top of that
The amount of money that professional athletes make throughout their career is mind-boggling. They make more money than the majority of Americans will make during their entire lives. Yet even with that being the case, why do so many of these stars go broke? Due to lack of education, poor to no money management skills, and the feeling that they must repay everyone whole has ever helped them are just a few reasons many athletes tend to go bankrupt shortly after retirement. Numerous things are to blame for this reoccurring theme among professional athletes; however, when it all boils down, stupidity plays a huge role in the issue (Erik).
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