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Winning the Money Game: Lessons Learned from the Financial Fouls of Pro Athletes
A successful NBA veteran offers essential financial management advice for athletes, their families, and the fans to help them protect and keep their wealth.
Over his sixteen-year career, former NBA center Adonal Foyle has watched other pros burn through their salaries, endorsement, and merchandising money, creating serious financial and legal hardships. While top professional athletes make millions, many have little in their bank accounts soon after hanging up their jerseys. Sixty percent of NBA players are broke within five years of retirement. Nearly eighty percent of NFL players are strapped within two years of retirement.
Why Athletes Go Broke offers much needed advice and insight to help these players--and the rest of us--manage money better. Drawing on experiences from his career, as well as interviews with current and retired athletes and financial pros, Foyle compiles a comprehensive list of money pitfalls as well as practical approaches to avoid them. In his straightforward, warm, and humorous voice, he breaks down expenses point by point, from taxes to luxury goods to family needs, outlining essential dos and don'ts to help you spend, save, and grow your money wisely.
Smart, concise, and packed with proven advice, Why Athletes Go Broke is a life guide for pros--and everyone who wants to protect their wealth.
Over his sixteen-year career, former NBA center Adonal Foyle has watched other pros burn through their salaries, endorsement, and merchandising money, creating serious financial and legal hardships. While top professional athletes make millions, many have little in their bank accounts soon after hanging up their jerseys. Sixty percent of NBA players are broke within five years of retirement. Nearly eighty percent of NFL players are strapped within two years of retirement.
Why Athletes Go Broke offers much needed advice and insight to help these players--and the rest of us--manage money better. Drawing on experiences from his career, as well as interviews with current and retired athletes and financial pros, Foyle compiles a comprehensive list of money pitfalls as well as practical approaches to avoid them. In his straightforward, warm, and humorous voice, he breaks down expenses point by point, from taxes to luxury goods to family needs, outlining essential dos and don'ts to help you spend, save, and grow your money wisely.
Smart, concise, and packed with proven advice, Why Athletes Go Broke is a life guide for pros--and everyone who wants to protect their wealth.
- GenresMoney
224 pages, Paperback
First published January 6, 2015
16 people are currently reading
45 people want to read
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Displaying 1 - 8 of 8 reviews
January 23, 2022
Literally only useful if you plan to earn money from the NBA...
July 15, 2015
This book was a combination about the financial pitfalls of star athletes and at the same time a book about some aspects about finance that everyone should know. The best part of this book was hearing about the obscene amount of money athletes spend on clothes, mansions, automobiles, and more. Another thing that was interesting to me was getting an insight into the sports industry, hearing about the people athletes hire for their many affairs, and the many positions that athletes and retired athletes could hold and what those positions are like. The ending chapter was the most invaluable to me because it had good information on things that I will have to deal with in at least a few years. I learned a lot about how the sports industry works, getting additional information on finances like medicare, retirement, and much more. I would highly recommend this book to people of all ages because it has financial lessons we could all learn from and how to make the right decisions when it comes to our own particular finances and situations!
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December 28, 2016This book was a combination about the financial pitfalls of star athletes and at the same time a book about some aspects about finance that everyone should know. The best part of this book was hearing about the obscene amounts of money athletes spend on clothes, mansions, automobiles, and more. Another thing that was interesting to me was getting an insight into the sports industry, hearing about the people athletes hire for their many affairs, and the many positions that athletes and retired athletes could hold and what those positions are like. The ending chapter was the most invaluable to me because it had good information on finances like medicare, retirement, and much more. I would highly recommend this book to people of all ages because it has financial lessons we could all learn from and how to make the right decisions when it comes to our own particular finances and situations!
October 20, 2015
If Foyle really wanted players to read this, I think they could have made it shorter. It feel stretched out at times to make it a full book length, instead of something around 50-60 pages.
Lot of common sense advice.
Lot of common sense advice.
July 23, 2015
This is an easy read and with all of the example you can't help but to understand your own financials. This book is better than I expected.
August 9, 2016
Some decent advice but mostly just a ton of stories about how uber wealthy athletes blow their fortunes. That was quite amazing. I did like the financial comparisons at the end of the chapters.
September 17, 2016
Definitely good information about managing money that can apply to everyone.
The references to athletes was interesting. Short read.
The references to athletes was interesting. Short read.
October 15, 2016
This really opened my eyes to how easily it is for NBA players to go broke. Great book.
Displaying 1 - 8 of 8 reviews