78% of NFL Players are bankrupt within 2 years of their retirement. 60% of NBA players are broke within 5 years of ending their career.
Although these statistics are disturbing, they don't tell the whole story. Certainly there is the overspending and mismanagement that goes along with being a professional athlete, but these are just some of the reasons why athletes go broke.
To see some of the other factors, keep reading.
People see the big million dollar contracts on TV and think that athletes are unbelievably rich. Some are, but here are the real facts about getting paid in the