@4stillRunning David E. Wilson Just copped a new whip....cuz I'm caking up...check me out now pic.twitter.com/Dl5ogz61
The reason this bothers me is because I've seen this before: college players going pro and spending their money on every single thing they did not have as a kid. While these players are going to be paid a lot of money, they don't plan for the future and spend frivolously on luxury items like a flashy sports car. I don't have a problem with players buying things like this, but I do have a problem with players not taking care of their money.
That got me thinking: why don't universities do more to prepare athletes for handling money?
First let me acknowledge that I know that there are sports management programs, but the finance classes in those programs have more to do with formulas and things of that nature than practical principles of money management. They don't teach you about taxes. They don't mention how to handle hangers on. They don't talk about long term planning to have money for retirement or setting up a second career after a professional career in sports.
I absolutely hate hearing that athletes squandered the millions of dollars that they accrued during their career. It's so disappointing.
So why not prepare them for the real world? Over the coming weeks, I will come up with a proper curriculum.
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