I mentioned this a few years back, glad to see ESPN did something on this. These guys often dont have a chance. There is no good advise out there for them in any main stream media, only bad advise, especially about women which seems to be the main way these guys go broke. Here in LA years ago you had Leykis on the radio but he is gone. These guys are not going to spend much time on the internet other than maybe some social media. So they will never hear about the many men's sites that will explain what they are up against. They will never hear of a pre-nup until they are loosing everything but by then it is too late. If they had some basic financial literacy and understood how women target them and how the system enables them to take all there wealth they would be much better off as they would have a chance at least.
Remember most of these exceptional athletes are young mostly late teens to mid 20's. They have little in the way of relevant education. As far as financial literacy, its just not taught in public schools. As you might know they are often unofficially "passed" in many of there college classes because they are top athletes.
On a side note a financial literacy bill is propose in the state of Arizona. At least one state think this is important. This is a prime example of how far off public education is where much priority and time is given to PC bullshit. Provided this passes, how many decades late is this?
http://www.bizjournals.com/phoenix/morn ... -high.html
These guys need some basic rules to follow. This is to keep things simple and put all your focus on your high earning pro sport. The average NFL career is just 3 1/2 years.
100% focus only on your sport.
Do not buy only rent. This applies to cars, housing and women.
Only buy fake jewelry.
Most of your money goes into saving - mutual funds and or bonds.
Only use Vanguard or PIMCO and nothing else, the idea is to keep it simple and completely idiot proof.
No real estate or any other money loosing scheme. Rent everything.
While you are on the payroll of professional sports, no contact of any kind with American women.
When you have off time a trip to Thailand, Colombia, Dominica etc. Off shore strictly pay to play.
Really for the most part American women are behaving like a рrostitute, especially if a guy is doing well in pro sports. American women have far higher cost and a very high probability of loosing all your wealth. Never marry any woman.