Why Do Many Athletes from Poor Backgrounds Go Broke?

by Minority Fortune

athlete-carsIt’s football season, with basketball season shortly following. These two sports seem to be rife with financially uneducated players. When they hit the clubs and malls, the last thing on their mind is a budget. No thought is given to their life for themselves, their children, and their family down the road. Why is that?

Here’s a great quote to fuel the discussion:

“The challenge of retiring young with virtually no skill set can be a one way ticket to the poor house. As a man who is concerned about the plight of the black athlete, I constantly see men who’ve traded away their entire educational future in exchange for a very short and meaningless life of glamour in professional sports.” Dr. Boyce Watkins

Let’s discuss this on Facebook.

*Image courtesy of Cosmoloan.

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