Thursday, July 31, 2008

Why many rich athletes end up poor?

Yes, even the ones who earn quite a few million dollars over their career apparently end up being near-paupers. With most of the article focused on Evander Holyfield, this essay in TheRoot contends that the curse of being a world-class athlete, the maddening sense of invincibility and entitlement that simply seems to come with the territory. It's a formula that's proven as deadly as any opponent. One that can cut short careers as quickly as it depletes bank accounts.
Michael Vick and Mike Tyson both had it.So did Marion Jones and Latrell Sprewell. In fact, so do roughly two in every three NBA players, according to a recently published Toronto Star article that assures that some 60 percent of them are guaranteed to be destitute within five years of retiring.
With that, it becomes clear that the same indomitable spirit most athletes take to the field with themisthe same mindset they carry into their everyday existence.
But in the real world, such 'a-world-is-mine' mentality doesn't translate quite the same.

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