When young athletes enter their pro careers they find
themselves signing what seem to be large contracts. However, while these
initial earnings seem like a lot, these athletes take on a lot of expenses as
well. With an increased pension many over consume, buying jewelry, cars, houses,
and even yachts. As a result athletes get them selves into debt because many
lack financial education, have the burden of friends and family to provide for,
and or make careless decisions with the money they do have- either through
gambling or through bad investments. What many of these pros do not realize is
that eventually the money stops coming. As noted in the 30 for 30 documentary the
average career for a football player is 3 years, yet many refuse to recognize
this fact. This is especially true for NFL players because their contracts are
not guaranteed and injuries can end a career in an instant. The most
significant issue for athletes is the fact many never consider what they will
do after their career is over, which makes the transition into retirement
extremely difficult. This is another factor that adds to the strain, lack of stability,
and downfall for an athlete.
It seems that athletes from the 80s and 90s have pointed to
the consequences that can occur. However, even though these negative avenues
have been highlighted, it is ultimately left up to the individual athlete to
make the responsible decisions with their money. In my opinion I believe that such
negative stories will continue to surface. Money has and will continue to pose
a burden on individuals and without proper assistance financial stress will
inevitably plague athletes in the future.
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