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by derangedHorse
206 days ago
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That just sounds like you're saying the "average" person in all those professions are bad at personal finance. Maybe that's a reflection of society at large. One articles estimates 90% of Americans being in debt[1] so it wouldn't surprise me that this successful subset would fare much better (although I would bet they do when compared to the general population). Also debt isn't always bad, but most individuals quoted in the study are probably not holding the good type of debt (debt one can easily pay off but doesn't). [1] https://www.debt.org/faqs/americans-in-debt/demographics/ |
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It is, but it's also a reflection of the business of professional sports in America and where most professional athletes come from. Most professional athletes don't come out of a positive financial environment, they mostly come from poor upbringings and neither through family or the education system are they taught basic financial literacy. Professional athletes in the US suffer the same exact problems as lottery winners, for pretty much exactly the same reason.