

How (and Why) Athletes Go Broke - robg
http://cnnsi.printthis.clickability.com/pt/cpt?action=cpt&title=Recession+or+no+recession%2C+many+NFL%2C+NBA+and+Major+League+-+03.23.09+-+SI+Vault&expire=&urlID=34789760&fb=Y&url=http%3A%2F%2Fvault.sportsillustrated.cnn.com%2Fvault%2Farticle%2Fmagazine%2FMAG1153364%2Findex.htm&partnerID=289881

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ryanwaggoner
Really interesting article, well written, and all on one page.

Reminds me of this Philip Greenspun piece on early retirement:
<http://philip.greenspun.com/materialism/early-retirement/>

One of my favorite pieces of advice on not getting swindled I think comes from
Oprah: always be the only person who can sign your checks. You'd be surprised
how many people who come into sudden wealth give someone else they barely know
the keys to the vault without a second thought.

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stcredzero
The proportion allocated to REITs and Hedge funds is a bit higher in the
Harvard and Yale allocations that Greenspun mentions.

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brandnewlow
In case you want to let SI make a few cents for your time, here's the article
on their site:
[http://vault.sportsillustrated.cnn.com/vault/article/magazin...](http://vault.sportsillustrated.cnn.com/vault/article/magazine/MAG1153364/index.htm)

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robg
I can see clickability taking a cut but not the whole pie.

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Evgeny
Shouldn't the article be rather called 'How people who make poor financial and
investment decisions go broke?'

I don't think the fact that they are athletes is the deciding factor in their
financial problems.

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ninguem2
In the case of athletes, it gets exacerbated by the fact that they are often
young, uneducated, distracted by their sudden fame and very visible.

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patio11
And that they have nine kids by nine different mothers. (That is not
hyperbole, that is an example from the article.) I'm trying to summon up
sympathy but failing miserably.

