Steve Smith Isn’T Surprised Some Players Are Broke

[lymelizzard]

They don't have to do it. They should do it because it's the right thing to do.

No, it isn't up to the NFL, Players Association, the government, etc to tell you how to spend your money or to save. These men are adults and many of them spent years on a college campus. The right thing is for them to take responsibility for their actions and or inactions.

[Iceberg Slim]

The whole players being broke thing has always been an issue that I find disturbing. Large contract, short career life, should equal saving more than you spend, but its like some of these guys do the exact opposite. I dunno, makes me scratch my head.

[csx]

No, it isn't up to the NFL, Players Association, the government, etc to tell you how to spend your money or to save. These men are adults and many of them spent years on a college campus. The right thing is for them to take responsibility for their actions and or inactions.

That's what I said. They don't have to do it. They do it to help people and it clearly needs to be done. Is that so crazy?

I've worked at plenty of companies that had free classes.

Why does people helping others learn something bother you?

[redbuddha]

Financial management is not taught in most households, schools and colleges, at least not as a required class. Hell, nobody has a class on filling out the deductions when you get a new job. Even if they had a class on financial management, I'm sure becoming an instant milliionaire wouldn't be covered.

[Inimicus]

Anyone who would oppose the NFL or the NFLPA taking it upon themselves to try and educate the young men their empire is built on about how to manage the millions of dollars they get is just a small minded and jealous douche.

And good on Smitty! The more I learn about him the more I like him as a man. And since I already thought pretty highly of him that's saying something.

[Chaos]

Smitty, can I borrow one meeeeellion dollars? I promise I won't blow it, I will invest it wisely and make you proud.

[OchoNueve]

I listened to the interview and didn't see anyone else post this... but the whole topic came about because of a statistic that the hosts heard from Michael Lombardi on the B.S. Report. They were discussing an upcoming episode of "30 for 30" which analyzes professional athletes that go broke and Lombardi said that 90% of retired NFL players that made over $15 million during their NFL career are now bankrupt! One of the hosts (Taylor Z) was preaching that the NFL needs to do something about this to teach these guys to manage their money and they should take some of the blame for this. Smitty called in to tell the host that a lot of people don't know how to manage money whether they are making millions or chump change. A lot of people just live paycheck to paycheck regardless of the amount and NFL players shouldn't be put on a pedestal and taught how to manage their money any more than the average joe should.

Smitty is the f'ing man....

[bigdog10]

good read.

Donnie Shell used to be employed by the panthers for this very thing. He would educate players on the dangers of mis-management of money and the troubles players face.

I had the opportunity to sit down and meet with him once, and the statistics he presented about the number of players that are broke within three years entering the league was staggering.

[TheRealDeal]

Breaking news: A bunch of juiced up kids from the ghetto's across America come into millions of dollars and don't know how to handle it.

In 5 minutes: Water is wet.

Seriously though, who thought giving these young men, many of them from single parent backgrounds that live near the poverty line millions of dollars with no education wouldn't have negative results? People latch onto them from their old hood and expect a free ride because they either looked out for them as a youth or promise to look after them or their family now.

Somewhere, something needs to change but you try telling a 26 year old with 5 million in the bank that he needs to save and not spend because he'll need it in the future. It's not happening.

League should mandate some type of retirement annuity from the players paychecks.

[KittyLover]

I would rather see them spend all of their money and then sue the NFL later in life when they are broke and/or go on welfare so my tax dollars can support them.

Anyone who opposes education needs more of it.

[bigjohn]

Anyone who opposes education needs more of it.

Bingo. If the state of North Carolina can take 6% of my paycheck, match it, and have something for me when I retire, why can't the NFL do the same?

[Panthers128]

To be fair it's not just NFL players. Although their cases are much more embarrassing, Americans in general tend to be poor at managing their finances.

Chinese people save 30% of their income.

http://www.theatlant...d-the-us/73001/

[Carolina Mike]

If the NFL needs to hold the players hands & teach them how to "Manage the PLAYERS money" then ALL players should be forced to place 5-7% of THEIR pay into a fund. This money would then allow for the "Teaching" of how to manage THEIR money. NFL should not have to do this on NFL Dime.

[thatlookseasy]

If the NFL needs to hold the players hands & teach them how to "Manage the PLAYERS money" then ALL players should be forced to place 5-7% of THEIR pay into a fund. This money would then allow for the "Teaching" of how to manage THEIR money. NFL should not have to do this on NFL Dime.

Why are you trying to tell the NFL how to run their business?

Just kidding. But the NFL does benefit from their players making better financial decisions, and its not like they are doing THAT much to help the players anyways