Comments on: Celebrity Bankruptcy: 5 Baseball Players Who Went Bankrupt http://www.totalbankruptcy.com/blog/celebrity-bankruptcy-5-baseball-players-who-went-bankrupt/ Just another WordPress weblog Fri, 19 Mar 2010 17:50:51 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Editor http://www.totalbankruptcy.com/blog/celebrity-bankruptcy-5-baseball-players-who-went-bankrupt/comment-page-1/#comment-14238 Editor Tue, 19 Jan 2010 18:44:05 +0000 http://www.totalbankruptcy.com/blog/?p=742#comment-14238 Hi Dennis, For a period, Dykstra was a model for financial management after a sports-career, but his recent difficulties have cast that conventional wisdom into doubt. It's hard to say if professional athletes struggle with finances after their playing days over at a higher rate than the average American struggles with everyday financial difficulties. There have been no conclusive studies, although a few years back the Toronto Star wrote that a large percentage of NBA players hit the skids after leaving the league. Is an athlete used to making $10 million a year broke if he only makes $100,000? His lifestyle will certainly change. I think the important lesson is that even celebrities and athletes and idols can hit hard times like anyone else, and debt management is important regardless of your income level. Hi Dennis,

For a period, Dykstra was a model for financial management after a sports-career, but his recent difficulties have cast that conventional wisdom into doubt.

It’s hard to say if professional athletes struggle with finances after their playing days over at a higher rate than the average American struggles with everyday financial difficulties. There have been no conclusive studies, although a few years back the Toronto Star wrote that a large percentage of NBA players hit the skids after leaving the league.

Is an athlete used to making $10 million a year broke if he only makes $100,000? His lifestyle will certainly change.

I think the important lesson is that even celebrities and athletes and idols can hit hard times like anyone else, and debt management is important regardless of your income level.

]]> By: Dennis Briskin http://www.totalbankruptcy.com/blog/celebrity-bankruptcy-5-baseball-players-who-went-bankrupt/comment-page-1/#comment-14188 Dennis Briskin Mon, 18 Jan 2010 19:28:14 +0000 http://www.totalbankruptcy.com/blog/?p=742#comment-14188 July 24, 2009 you posted names of 5 ex-MLB players who went bankrupt. About the same time, Washington Post financial writer Frank Ahrens described Lenny Dykstra as “one of the rare pro athletes who managed to prosper after his playing days were over.” (Frank Ahrens Washington Post, The Ticker July 8, 2009.) I am researching the subject of pro athletes and their money, how some are "set for life" while others "make it and blow it." How common are these two popular images? As baseball player salaries have skyrocketed since free agency began in the 1970s, are suddenly wealthy athletes "going broke at a higher level"? Are bankruptcies any less common among athletes who were rich and are now super-rich? Thank you. Dennis Briskin Palo Alto CA July 24, 2009 you posted names of 5 ex-MLB players who went bankrupt. About the same time, Washington Post financial writer Frank Ahrens described Lenny Dykstra as “one of the rare pro athletes who managed to prosper after his playing days were over.” (Frank Ahrens Washington Post, The Ticker July 8, 2009.)

I am researching the subject of pro athletes and their money, how some are “set for life” while others “make it and blow it.” How common are these two popular images? As baseball player salaries have skyrocketed since free agency began in the 1970s, are suddenly wealthy athletes “going broke at a higher level”? Are bankruptcies any less common among athletes who were rich and are now super-rich?

Thank you.
Dennis Briskin
Palo Alto CA

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