Why Most Athletes End Up Poor



Professional athletes can become brands and icons unto themselves during their careers. This makes them an amount of money that can generously be called “godly.” Then they lose it. For every Michael Jordan or Tiger Woods, there are hundreds or more who lose what they made during their careers.


No matter how many times it happens, it doesn’t stop. These athletes inevitably make millions, and then lose it all once they’re too old to earn it all back. Why?


Consider the typical athlete. You’re barely out of your teens. A company or team signs you to a contract that lasts for years, offering millions of dollars. You can expect endorsement deals if you become good enough to be famous. Who hasn’t heard of Jordan, Gretzky, or LeBron?


So how do they end up losing all of that by the age of 40?


It isn’t the lottery. It’s not a game of chance. No, what kills the finances of these athletes is a series of bad decisions, sometimes including being so bombastic that they buy into their hype and personas.


There’s the story of Mike Tyson, who spent his fortune on multiple homes, cars, gaudy jewellery, and pet tigers. Baseball legend Curt Schilling made $112 million over two decades, but ended up so broke he had to get the Baseball Hall of Fame to give him some memorabilia back so he could auction it.


One of the reasons athletes lose this much money comes down to payments. Divorce and child support are the biggest ones, and athletes rarely anticipate them. There is an alarmingly high divorce rate among athletes, and that means a lot of alimony money being paid out.


There’s also the problem of an athlete fathering multiple children with multiple mothers. This can result in child support payments that would make even the richest man baulk in the long term. This is especially bad for athletes like Shawn Kemp, who had seven children by age 28.


Taxes and utility bills also eat up an incredible amount of cash.


If you buy a massive estate, as Evander Holyfield did, you’re spending more than just for the land and the building. You’re paying property taxes. You’re paying a lot of money to keep the lights on. These may not seem like much, but they eat away at your cash over time.


Friends and family can also be a drain. The more of them you have, the more money you spend.


This is a natural thing. People are expected and often are all too willing to give money to people around them. It could be paying off other people’s debts or just being generous. However, at some point, you give away too much, and suddenly you’re bankrupt.


Finally, there’s the fact that athletes are signed with little to no knowledge of how to plan financially.


Most of the time, they’re never given that knowledge. They rarely consult firms like The Financial Advisors Perth, who can help them with these matters. They come from backgrounds that don’t allow them the means to manage their newfound wealth properly.


Get Started Running



About 6 years ago I decided I needed a regular physical fitness routine. Reading the obituaries and seeing the young ages of the deceased, and hearing stories from friends about various ailments, had me convinced I needed to get fit and stay fit but going to a gym and aerobics classes etc. didn’t fit my schedule or budget. My husband had been a regular runner for many years and we had done some running together, but I never loved it, and I never did it regularly enough to become good at it, or enjoy it. It was so easy for me to put off too, I would use any excuse to not be able to go for a run on any given day.

I started where most people start anything these days… the internet! There are a ton of beginner running plans on the internet, but I couldn’t make anything stick. You know the whole thing about doing something for 21 days to make it a habit? Well it didn’t work for me and running, I could never get to that point. Runner’s High? Never achieved it! I always felt that running was drudgery and something I had to force myself to do. But what other exercise is so inexpensive and convenient. Running was something that I could get the most benefit from for the least amount of time invested. I didn’t have to go somewhere to work out, I could leave right out my front door. I didn’t need expensive equipment that would take up room in my house, and I could do it whatever time of day or night was convenient for me. I knew that running was really the only exercise option for me at that stage of my life.

Starting out, I couldn’t even come close to a mile. I’d read about interval training, and many of the online programs tout the benefit of it for strength, speed, and weight loss so that’s where I started. Interval training consists of walking for a short period of time, then running for an even shorter period of time, then walking again. Beginning this way helps to build endurance for the run part of the intervals. Gradually the running portion increases, and the walking portion decreases. It worked for me for a little while, but I was still super inconsistent, making it hard to see any real improvement.

What really helped me turn the corner though was finding a group to run with. In May of 2012 a new group was forming just for Moms and I decided to take the plunge and join. This was a godsend! Not only were there other women at my running level, but there were others better and worse! I felt like my struggle had been real and there were women who had overcome the same obstacles I was facing and were so inspiring, and others looking up to ME! And the conversations?! Hysterical! The best part was the accountability! Although it was a “class” and I had to go to a park to attend on a schedule, I committed to make it work because there were people expecting me to be there. We did the same interval thing, but this time I could really see the difference. I had never been one to push myself, but now I had others pushing and encouraging me. I distinctly remember being very concerned one evening because we were expected to run 90 seconds straight! That’s right 1 陆 minutes of running, and I was freaking out. But I did it! From there it was all uphill. I ran the very first race of my life that fall at the age of 45. Since then I have run 18 half marathons (13.1 miles), 2 marathons (26.2 mi) and 1 50K (31.2 mi). From anxiety about 90 seconds to running for nearly 7 hours straight! Runner’s high? Yep, I know what that is now. Another unexpected benefit is that running on my own, out my door, on my schedule has become much easier, because running is more enjoyable. I’m more fit than ever in my life, feel more in control of my emotions, and feel that I am setting a good example of a healthy lifestyle for my children.

Not every town has a running group for moms so some gals will have no choice but to turn to the internet and books to get inspired. Either way, I encourage you to keep trying, as persistence will pay off in the end. For those of you who live remotely or don’t have much of a running community I have attached two great resources to get you started on your way to a healthier more fit lifestyle.


The Inspiration Of Youth Sports Stars

As a young man, I was in youth track and cross-country and was able to rank nationally, and post 4-consecutive years with no loss and all first place, and I was lucky to find something I was good at early on in my life. I didn’t realize it back then when people use to come up and want to meet me and tell me how much they enjoyed watching me run and win. Today, I do understand, as it is an innate sense we have to watch others, especially underdogs, overcome and win. Perhaps why the Rocky series movies were so popular and why people like movies like the Karate Kid.


Recently, I watched a very inspirational YouTube video about a young athlete. A 7th grader cross-country runner who beat all the high girls at the State Championships, her name is Grace Ping. You might want to watch the following videos yourself:


1). “Grace Ping [GP], 7th grader, takes down the ENTIRE 2015 Roy Griak high school field” on the FloTrack Channel.

2). “GP Not Allowed to Race NXN” on the MileSplit Channel

3). “GP After Racing Pro 3K At UW Indoor” on the MileSplit Channel

4). “GP Story” Sean Tehan Channel

5). “GP – Athlete Of The Week” Chris Barriere Channel


One commenter wrote: “why am I watching this video, I’m not even in track let alone athletic.”


My reply was simple: “Because you love an individual with that level of spirit and will to win. We all do.”


You see, it makes us feel alive, it makes us smile and see someone go beyond, go the distance, defy the odds and win. Americans will always hold such values and hold a special place in our hearts for those who remind us what we are capable of. It turns out the super cross-country runner Grace is not just an anomaly – she is also a cross country skier – and those long skiing training endeavors helped her develop strong cardio, will, determination, high pain threshold, and legs of steal, even for a 13 year old.


It is amazing what the human body is capable of, and yes, she obviously has good genetics for running, but it’s more than that, it’s her intense training, training that is transferable from skiing to running. Interestingly enough most skills are transferable, especially the human trait of perseverance. She’s got that, and well, so do you. She’s found her “inner winner” and maybe it is time that you found yours too. Please consider all this and think on it.

Limo Services for Big Stars

Celebrities and limousines go together like fish and chips, chocolate and peanut butter. It’s just one of those pairings that makes sense, even if we don’t always understand why.

Now that I think about it, why do we keep attaching limo rides to celebrities and big deal people? If there’s something inherently special about the two that makes them so linked, we wouldn’t have limo rental companies for everyone else, I think. So what allows such a connection to form?

After a lot of time thinking about this and asking a few friends for their insights, I think I’ve got a few ideas. Mind you; they’re all anecdotal evidence, not scientific data.

I think one part of the association comes down to when we get limo rides.

Think about it. We rent limos for special occasions, or when we want to impress. Weddings, proms, parties, and the like. These are all events of significance. These are the times when we break out the luxury vehicles, the ones that let us come and go in style.

Who do we think of as special? More often than not, it’s celebrities. People who are famous or have made a name for themselves.

A lot of individuals see luxury as something that the rich wrap around themselves like a blanket. The limousine is the stereotypical expression of luxury on wheels.

It isn’t hard to imagine why the connection exists. A limo has a lot of luxury features attached to it. These go beyond just having high-end stereo and climate control systems, too. You’ve got state of the art video systems that let you watch TV or movies.

The typical limo has tinted windows, giving you privacy and reducing the heat that gets into the vehicle. Combine this with some plush upholstery and leather seats, and you have the most comfortable way to ride available. The interior is just cosy and relaxed.

Who do we associate with luxury? The rich people who can afford to have it around them. More often than not, wealthy people tend also to be famous – or at least, they’re the rich people the rest of us see most often on TV.

Limousines are also noted to be expensive items.

They’re not always expensive, but most people see limos as pricey. Between all the features, the fact that they were pricey at one point in time, and is well out of most people’s price range today helps contribute to that idea. So it makes sense that when we think of a limo, we think of money.

When we think of money, we again think of rich people and celebrities. It’s a matter of exposure, I think. We see stars more often than other types of wealthy, which warps our perception.

We see celebrities more than we see other rich people. I mean, who keeps an eye on press conferences held by CEOs? Who do you know has billions in the bank and likes to make their presence felt, and social media kids being disgusting about consumption don’t count?

And what do we associate most with rich people, apart from gold? The limousine, that’s what.

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Welcome to the official website of Mo Farah

Mo is now based in West London and represents Newham and Essex Beagles athletics club as well as Great Britain where he specializes in the 5000m. Mo began running in school and went on to become a very successful junior athlete, winning a silver medal at European Junior Cross

He won his first major title in 2006 at the European Cross Country Championships and placed a credible 6th in the

World Championships in 2007 which levered him to the status of Country Championships in 2001. However, he only made his breakthrough on the senior stage in 2006 when he significantly improved his lifetime best before winning a silver medal at the European Track & Field Championships.” an athlete to be reckoned with”. Mo continued h


is steady rise in the long distance world platform with a gold medal in the 3000m at the European Indoor Championships in Turin 2009. Last year Farah broke several British records and finished top of the UK rankings for the 1500m, 3000m, 5000m and 10k road.

Mo started 2010 in great form, breaking his own Brit

ish record over 10k road again and clocking the 3rd fastest time in UK history over 10,000m on the track. He is now the double European Champion over 5000m and 10,000m making him an inspiration to future generations.