Source: Fox Sports
According to Sports Illustrated, 78% of NFL players are bankrupt two years after retiring. One day you’re looking at these incredible athletes with envy and the next day they could lose it all. The average career of an NFL player is six or seven years, and the minimum salary is $390,000. But that doesn’t stop some of these athletes from spending millions of dollars and adding up millions more in credit card debt.
Some of the biggest NFL All-Stars made millions of dollars during their careers, but once they retired, they blew all their hard-earned cash and went completely broke. Many of these athletes don’t know how to manage their wealth, put it in the wrong hands, or spend it as quickly as they get it.