60 percent of retired NBA players go broke (Moore) and 80 percent of NFL player go broke. Retired pro athletes don’t know what to do with the money and with the injuries they sustained during their career. Being a pro athlete greatly affects the way a person handles money, deals with mental health, and keeps their physical health as a priority.
Professional athletes need more knowledge about personal finance after they retire. The crazy part of all of Professional sports is how often the athletes go broke or bankrupt. While NFL players are out of the league , 80 percent of athletes go broke within 5 years of retirement. (Steinberg) Most people say people athletes go broke because they are irresponsible with their money. That is only have of the problem. The main problems for them losing their money is trusting people with shady backgrounds. 78 people attribute to the 42 million dollars lost in the shady people using their money: “According the the NFL players Association at least 78 players lost
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Due to the large hits they take in a career they will be at a constant risk for mental health. They need have shorter careers and make a little more money so the can be better in the long run. Doing this will result in happier players and better reputations for the leagues, because they pay more for a shorter career. That means that the players will have an option to play as long as they want until they sustain injuries. So it would make a better retirement for athletes in contact sports. Contact sports don’t have enough protection. Overall, about thirty five million injuries happen in contact sports a year, which is a little alarming. The sports leagues have to do a better job of protecting their players. If they don’t they will have a harder time trying to fix their reputation. Even though people say that injuries is part of playing sport, the injuries has to stop and make the technology