GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you could read more about oureditorial guidelinesand our products and servicesreview methodology.
Their long-term goals determine the investment strategy and the investment options that are presented to them.
They also can get caught up in get-rich-quick types of investments.
They often take financial advice from the wrong people, Willardson said.
A huge contributor to professional athletes [going broke] isbad financial advice.
They often have a lot of pressure to maintain a lavish lifestyle and high spending habits, Willardson said.
They might have to financially support family and friends, which is a significant drain on their money.
This is particularly problematic when you only have income coming in for a limited amount of time.
They could have a short career, so their earnings window is really short, Willardson said.
Theyre not going to be able to add money.
More From GOBankingRates
Share This Article:
