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Poor Money Management Among Professional Athletes Essay

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When people typically view professional athletes they see the lavish lifestyle, they see the big contracts, and figure that they must be set up financially for the rest of their life. This is not the case though as becoming a professional athlete is similar to hitting the lottery just genetically. Being an athlete creates a large amount of income early in life, but that income decreases to zero once retirement comes around. The documentary Broke is a compilation of interviews and incidents that occurred which showcase the poor money management done by professional athletes. Whether the athlete played basketball, baseball, football, or was a boxer it did not matter there were multiple instances where an athlete that made millions in…show more content…
These players are simply too immature to understand to concept of properly investing their money and financial planning. They honestly believe that the money will continue to poor into their bank account. They do not realize that once their playing days are over their income becomes zero. It comes back to a problem that many young people have where they are just thinking about the here and now and not what is going to happen five to ten years from now. This is a problem for many young people and their spending habits why should a professional athlete be any different. The next issue would be how to fix this so we do not hear so many sad stories about our favorite athletes going bankrupt. Proper education would be first. Allowing athletes to better understand long term investments, and where there money should be spent if needed. This cannot occur without the help and support of friends and family. The real problem comes from within. Many money issues can be resolved if people would stop taking advantage of these young men. Their family and friends should be protecting and providing support to these young athletes, but instead they are being taken advantage of because of their money. This problem will never be fully resolved without the proper action taken by those closest to the players. The wasteful spending that professional athletes commit is an embarrassment to whom we hold in such high
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