I look at football players, all pro athletes really, and just shake my heads. Didn't these guys go to college, or attend classes? Has no one told them that U.S. Savings Bonds are better for their money than some of the investments that impoverished them?
The talents behind AccountingDegree.com tells the story of five famous, well-paid NFL stars who could not handle their success. Our old friends Lawrence Taylor, Terrell Owens and Michael Vick are on this list. Take a look.
Please Include Attribution to AccountingDegree.com With This Graphic
Smart investing is boring – real boring. Maybe too slow for a mindset geared for aggression and quick results. I wonder if that's why I never read these stories about baseball players. Just sayin'.
I take issue with one of the conclusions. The graphic advises athletes to be sure their advisor is someone they trust. OF COURSE they trusted their advisors. You think they dumped a shirtload of money on a guy on the corner?
The better advice is to trust advisors who've proven they've invested with success before. You know the type – an advisor who has trained as hard in their field as the player does in his (or hers). That, and don't put every cent in some dream scheme. That's what savings bonds are for.
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