The life of a retired athlete usually ends up with them being in depth from not paying taxes and putting money in businesses that people tell them to invest in. They also want to continue living the lifestyle that they were living when they were playing which they can't afford.
The challenges that they face in the transitions from playing into retirement is not being able to pay for the things that they were buying and paying for while they were playing. Along with that a lot of players who are married tend to get divorced with in two years of retirement.
They have this problem because players don't know how to manage their money. They have millions of dollars and blow it on things that are so simple. Taking care of family members, giving them money whenever they ask for them. In players head they think that they have to live the lavish life style of everybody else and try to live up to the standards of people that and in a different take bracket.
I think that athletes should really take the time out to learn how to manage their money is that they can still live off it in the long runs once their sport is over. Because it's no way you make all that money from your contract and endorsements and still go broke once your done playing. I manage my money now so that I won't have those problems if I am fortunate enough to make it to the professional level.
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