"Within five years of retirement, an estimated 60% of former NBA players are broke."

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Article from 2009

...athletes from the nation's three biggest and most profitable leagues—the NBA, NFL and Major League Baseball—are suffering from a financial pandemic. Although salaries have risen steadily during the last three decades, reports from a host of sources (athletes, players' associations, agents and financial advisers) indicate that:

• By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

• Within five years of retirement, an estimated 60% of former NBA players are broke.
http://sportsillustrated.cnn.com/vau...#ixzz1JQH1LQij
 

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What do you expect when you give a bunch of gangstas a lot of money?? No surprise
 

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maybe the NFL and NBA should require all players to take a financial planning class from Mr. Micawber.
 

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