It is said that that money makes the world go round and that money can't buy happiness. Nearly everyone knows this. However, there are athletes who tend to ignore and forget this when they hit the big time. Most of these ones are probably under the belief that the good times will run for an eternity. Unfortunately, this is not the case for most of them.
There are several reasons why this occurs. It may be due to living an extravagant lifestyle, bad investments, responsibility spending, drugs and alcohol, reckless behaviour and possible child support payments. These different scanerios have their own different effects. Let's break each one down.
The first one is quite simple and most popular. Athletes who succumb to this are probably the ones who didn't have nice things growing up. As such, the money they earn go towards things that they always wanted. Once they have 'tasted' the feeling, that feeling will never go away. As a result, their spending will become everlasting and get bigger each time.
The next aspect is bad investments. These mostly involve realty. Some other ventures involve the food and beverage industry. Other times they assist their friends. Either way, most tend to go south and that means a loss of fortune. There's no way for them to recoup the money. Appropriate research should always be done before placing money on a risk.
When I hear the words, responsibility spending, I immediately think of families. These costs can almost be anything. However, most times they buy their families houses. With these purchases come bond payments and other housing related bills. These costs are perhaps a neverending one.
I think drugs and alcohol speak for themselves. Athletes might turn to either one if they get too nervous or deal with a serious issue such as a result. This can lead to almost anything. That is why I believe that this goes hand in hand with reckless behaviour. When drinking and taking drugs, their mens rea goes AWOL and they don't know what they are doing. These acts can lead to hefty fines and punished by their respective sport's board with suspensions without pay.
The amount of times athletes tend to pay child support is unprecedented. Their fame and fortune tend to get them popular with the ladies. This attention may lead to adult entertainment being done and babies being produced. This will result in multiple ones that will lead to high costs.
What I'm trying to say from these topics is that varied athletes are unpredictable. There's no telling what could happen to them. There should be a financial course that everyone should take. This would involve managing their money well and how to save it for when they retire. If this is not done, athletes will have to declare bankruptcy and will never be able to retire. They will have to continue to participate until they are nothing but skin and bones.