30 for 30: Broke (2012). 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress. | Amazing Articles
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30 for 30: Broke (2012). 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress.

- 30 for 30 broke 2012 60 percent of former nba players are broke within five years of retirement by the time they have been retired for two years 78 of former nfl players have gone bankrupt or ar - 30 for 30: Broke (2012). 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress.

30 for 30: Broke (2012). 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress.

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33 Comments


  1. legacy3233

    September 27, 2017 at 1:55 pm

    There’s a great [Player’s Tribune article by Plaxico Burress](https://www.theplayerstribune.com/plaxico-burress-advice-for-nfl-draft-class/) that talks about this subject. He talks about how he went from never having a bank account to having $5M but didn’t even know how to write a check.

    Reply

  2. imaginethehangover

    September 27, 2017 at 1:55 pm

    It’s been a while since I’ve read anything about it, but IIRC maybe 15 years ago members of the All Blacks (NZ rugby team) were encouraged or forced to complete a university degree while training for/as an AB, presumably for this reason. A lot of those ABs have started their own successful companies, which is great; these guys very often didn’t last very long at the top of their game because of the physical nature of it.

    Reply

  3. limac333

    September 27, 2017 at 1:55 pm

    Great documentary. A lot of guys make a couple million a year, and live like they make that amount of money and will forever. They don’t consider the amount of years they will be able to make that money is relatively short compared to for example a doctor or lawyer who can earn a salary (albeit not the same amount an athlete makes) for 40 years.

    Reply

  4. battlevac

    September 27, 2017 at 1:55 pm

    Don’t blow it. Keep it simple. Count your money.

    Reply

  5. DonaldTsEgo

    September 27, 2017 at 1:55 pm

    Players since this have actually been far more careful with their $.

    When I played at Florida State, during Fall-camp we would have guest speakers after dinner to cap off the day. One year we had Chris Herren (from 30for30: Unguarded), the Commander of Seal Team 10, Michael Clayton, and Kevin Elko (sports psychiatrist that’s a motivational speaker, has like 9 championship rings) – among many others.

    All of these people were amazing speakers and said some profound things. But, one day Head Coach Jimbo Fisher had a bunch of wealth managers based in ATL come and talk to the team, and I never saw the room so attentive. This was in 2013 (FSU Title Season) so there were about 25 future NFL players.

    This is important because players over the years have become more aware that they are VERY vulnerable, and that they CAN and WILL run out of $. So them having the self-awareness to recognize they need all the help and advice from professionals, shows that things are getting through to these guys.

    Reply

  6. Nickstalgia

    September 27, 2017 at 1:55 pm

    Tl;dr if you’re shitty with your finances you’ll go broke

    Reply

  7. Mohlman12

    September 27, 2017 at 1:55 pm

    Bill Burr’s take on this is the best.
    [Burr- 30 for 30 Broke](https://youtu.be/mGQbd_0GPLY)

    Reply

  8. 292ll

    September 27, 2017 at 1:55 pm

    I really blame the players associations. They had rookie wage scales put in place because they veterans liked the idea and the owners wanted it.

    They could have easily negotiated that if rookie contract players agreed to put 20% of their salary in a trust for themselves it would be half matched. The player associations could have figured out a few options for the trusts, but basically these guys couldn’t borrow against it or touch it for 10 years, 20 years, etc. It wouldn’t have been perfect but it would have helped. To add and jump on another poster’s comments. Make these guys go through a 20 hour finance course to participate in the combine, etc.

    Reply

  9. slimrollins

    September 27, 2017 at 1:55 pm

    So many players lack the upbringing to be conservative with their money. They’re constantly being bombarded by ‘friends’ for money, etc.

    It’ll never change.

    Reply

  10. Developer-Wanted

    September 27, 2017 at 1:55 pm

    100% of their agents are fiscally solvent and out of debt.

    Reply

  11. Bham-BMXER

    September 27, 2017 at 1:55 pm

    But I needed them five Lambo’s doe.

    Reply

  12. thewhiterider256

    September 27, 2017 at 1:55 pm

    So you’re saying going from making millions of dollars per year and leading an extravagant lifestyle to is unsustainable after you cease to make millions of dollars a year? I don’t buy it.

    Reply

  13. phatdoge

    September 27, 2017 at 1:55 pm

    I’ve read all of these comments about how they have no financial education, are not good with money, their unions do not help them save, and so on and so on…

    But I’m still confused by the fact that most of these guys have college educations! At good colleges too.

    I understand many of them do not learn a lot in college, but they **still** have an advantage over most Americans and even MLB players who rarely go to college. The real answer has to be deeper than what’s mentioned here.

    Reply

  14. Barry--Zuckerkorn

    September 27, 2017 at 1:55 pm

    This data is pretty similar to that of Lottery winners. Poverty is broken around the dinner table; not with a sudden influx of cash. Having two parents helps.

    Reply

  15. GibbyGiblets

    September 27, 2017 at 1:55 pm

    I mean no shit.

    Take a guy with a regular job for 10-15 years at 60k a year and see how long he lasts quitting and spending like he still works.

    Reply

  16. SNX_Snacks

    September 27, 2017 at 1:55 pm

    The Rock is really not doing a great job

    Reply

  17. mpng1177

    September 27, 2017 at 1:55 pm

    Because no one educated about the sequence of success : survival – stability – success – significance. They skip the sequence and they can’t make it. If you don’t know how to take care of $100, you will not know how to take care of $1M

    Reply

  18. Use_VOAT_Instead

    September 27, 2017 at 1:55 pm

    “have gone bankrupt or are under financial stress.” you mean spending more then they make and refusing to live within their means.

    Reply

  19. nateofallnates

    September 27, 2017 at 1:55 pm

    I feel so bad for them….

    Oh wait, no I don’t.

    Reply

  20. edubya15

    September 27, 2017 at 1:55 pm

    because most of them are dumb fucks

    Reply

  21. Nofanta

    September 27, 2017 at 1:55 pm

    A lot of former NBA and NFL players also cheated their way through college and high school so they have no idea how to manage their finances.

    Reply

  22. simple1689

    September 27, 2017 at 1:55 pm

    And Baseball players? Soccer, hockey, erm golf?

    Reply

  23. Vietmeme

    September 27, 2017 at 1:55 pm

    Haha what a bunch of idiots

    Reply

  24. BeastModular

    September 27, 2017 at 1:55 pm

    How can *so many* people be so overwhelmingly irresponsible. Mind-blowing.

    Reply

  25. CHuckLeRB

    September 27, 2017 at 1:55 pm

    Gee, and I’m supposed to feel bad for people who make more money in 5 years or less than I’ll make working hard my whole life… sorry ain’t happening.

    Advice: learn to manage your money, exactly like I have to!

    Reply

  26. squirell4800

    September 27, 2017 at 1:55 pm

    If I remember correct a lot of it was trusting extended family members and former friends to manage their money, and those people either mismanaged or would steal the money.

    Reply

  27. shrimpdOut

    September 27, 2017 at 1:55 pm

    No sympathy for them, pro sports is a leach.

    Reply

  28. jorkk

    September 27, 2017 at 1:55 pm

    It’s a very sad state but also unbelievable that these guys are allowed to claim bankruptcy after spending millions living a lavish life style. Why is this allowed to happen?

    Reply

  29. Guy_In_Florida

    September 27, 2017 at 1:55 pm

    Stupid people are not meant to be rich. Fools and their money are easily parted.

    Reply

  30. courtesy_flush_plz

    September 27, 2017 at 1:55 pm

    0/10 feel bad

    Reply

  31. swolbgnajom

    September 27, 2017 at 1:55 pm

    People who are bad with money but are given a lot of money will wind up poor again. It’s not about becoming rich it’s about knowing how to manage your money.

    Reply

  32. m8-t

    September 27, 2017 at 1:55 pm

    People from impoverished backgrounds typically have issues handling and managing “new” money.

    Reply

  33. Anonymous

    September 27, 2017 at 1:55 pm

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