Unfortunately, financial problems can be a great equalizer.
Regardless of the salary or status, mismanagement of funds can lead to a world of trouble. Although it’s hard to believe, this also applies to our favorite celebrities and public figures who reportedly earn millions of dollars throughout their career. For example, although a high-paying NFL contract seems to be the ticket to eternal riches, that’s not always the case. Roughly 16% of retired football players end up bankrupt within 12 years of stepping off the field for the last time, according to a study by the National Bureau of Economic Research. To that end, for other highly visible public figures living in a litigious culture, lawsuits other legal woes, and ill-advised financial investments can lead to major financial issues.
Source: Read Full Article