Monday, September 21, 2009

9.21 - Mrs. Tom Brady, NFL players go broke, etc.

- Let's start with a lil' Gisele Bundchen today. She's checking out the plane,
while the guy behind her appears to be checking out something else.


*****

--The minimum salary for an NFL player is $310,000 the first year, and $460,000 after they've played a couple years. Still, 78% of NFL players go BANKRUPT or are in severe financial distress within two years of retirement.
--Where does the money go? Well, some players blow it on drugs and child support. But mostly they get bad investment advice. Starting a record label might be a lifelong dream, but it's not the best way to build a nest egg.
--And even though a lot of players are earning mad cash while they're playing, the average NFL career is less than FOUR YEARS. And a little over a million dollars, before taxes, is just not enough to retire on when you're that young.

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