I've always wondered how athletes become bankrupt

Wow.

I've always wondered why financial ideas/planning aren't drilled into kid's heads at a younger age...it would probably go a long way. There should be less crap classes in school and more money-centered classes.

 

Maybe parents could take an active role in child development at an early age and help kids to understand the concept of responsibility and accountability and maybe monkeys will fly out my butt and shower money and candy on everyone.
The downfall of our society started with the Barbie Doll by raising the expectation and entitlement level.

 

I doubt many of these athletes are too concerned about school, much less financial planning in their younger years.

 

That's definitely true about the athletes.

I've always wondered about it in general though too.

 

It's true... I had a friend that run into a big sum of money. People let the money get to their mind. They think, holy crap.. I can do anything I want with this much money, and I can give as much away and my friends can have an awesome :grrr::grrr::grrr: time and it won't matter.

Especially if the person who gets this much money has never really had money to begin with. You start thinking.. whats a 10k when you got 10 mil more?

Needless to say, my friend burnt through that money and had to sell alot of his assets. he still has money put away but he's lucky because he quit doing stupid stuff when he had about 5% of his money left, and hes got a job and a family

Those were the good ole days but gambling and partyin like a rockstar everyday eventually got old when he sobered up and realized what he had done. I remember him being drunk for weeks at a time. Most of the time, people who don't have money... don't have money for a reason, it's simple... they buy stuff they dont need.

Give a bunch of money to a person who is accustomed to buying stuff you don't need and you might as well have raked all that cash up in a pile and doused it in gasoline and set it ablaze.

I've have heard the NBA and other pro orgs now does mandatory money management courses for rookies and have a pension for players once they are done playing. I wonder if walker participated in this?