The vast majority of athletes are terrible with money management.
ESPN The Magazine's "Money Issue" and ESPN's 30 For 30 "Broke" shed light on the epidemic of athletes mismanaging their money. "Broke" estimated that 60 percent of NBA players are broke five years after retirement, and Sports Illustrated once estimated that 78 percent of NFL players are bankrupt or close to it within two years of retirement.
While there is a dangerous truth to this stereotype, there are still plenty of athletes out there who are financially prudent and mindful of their wealth, even taking steps to complete their higher education to help secure a career after sports. Just look at guys like Magic Johnson, Michael Jordan, and Jamal Mashburn. If you need more examples just peep this list.