Quote:
Originally Posted by Econ
of course, the sad fact is though, that the majority of the US is horrible at money management.
Bloomberg the other week showed bankruptcy statistics on NFL and NBA players. THeir findings:
within 5 years of retirement, 60% of NBA players and 78% of NFL players go bankrupt.
Just trying to point out how 300k annual car expenses could help contribute to this.
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Well, your average NBA or NFL player is not a good proxy for the intelligence of the average American. Most of these guys wouldn't have made it to college without athletic scholarships. I'd say most Americans smart enough to retire on several million bucks don't go bankrup within 5 years...
I'll stop here.
