According to an article source from yourdailybusinessinsight, it was claimed that 78% of former NFL players have gone bankrupt or are under financial stress currently.
Furthermore, it was also recorded that 60% of former NBA players have gone broke within five years of retirement.
Isn't this incredible? I mean really, how in the world you can go from making millions to being broke within a matter of years?
It's actually quite simple. They violated the law of money.They Spend a lot more than they earn!
athletes and even renowned footballers make $1000,000 a year, while others are making in excess of
$25,000,000 a year and even more.
This means that it is your attitude towards what you earn that matters and not necessarily the amount of money you earn! You may be making millions per month and nature will still get hold of you if you spend excessively more than you earn.
The Law says the more money you have the more expenses you have and if not careful, expenses will rise above income.
It is still unimaginable how John Daly gambled away $50 million and how Mike Tyson blew $400 million.
of you look up to these professional athletes and dream of living a
life as glamorous as theirs, remember that many of you are better off
financially than many of them.
stability has been and always will be achieved by following one simple
step: don't spend more than you make! In fact, the very successful CEO
of an asset management firm I do equity research for suggested that I
save 20% of everything I make.
I pass that recommendation onto you! Give
it a try and see how quick you are able to save money and work towards
You may also read more or Robert Kiyosaki's Book on Guide to Investing, RichDad PoorDad etc to gain financial intelligence.
You will never be thought how to make and spend money in school! You educate yourself in this vital aspect by reading good books, attend seminars and conferences on financial empowerment programs etc.
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