How can you have $400 million to your name and go broke? I don’t know, ask Mike Tyson. Star athletes going broke is not something new. It has been happening ever since their paychecks began growing to astronomical amounts. Although many of us will never have anywhere near the money that these individuals did, there is still a good lesson to learn from their mistakes.
They spent too much on things they didn’t need. They didn’t budget.
They had bad investment advice. Not one of them called Vanguard or Fidelity and asked a Financial Advisor what they should do with their money.
As the new DirectTV commercials go: “Don’t be like this Peyton Manning”. “Don’t be like this Rob Lowe”.
Don’t be like these athletes.
Budget Smart, Invest Wise