Essentially, if you partake in a sport and plan to succeed to the highest of your potential, your ultimate goal is to become a professional athlete. While professional athletes externally portray that they are "living the American Dream" with their expensive cars, fame through media, and their million dollar paychecks, the reality of their lives don't quite settle internally. Professional athletes spend years of hard work to reach the top. It is only understandable they treat themselves to nice things after their signing bonuses. However, while the money initially may seem endless, their spending habits on unnecessary luxuries quickly become a lifestyle. Unfortunately, the game is not a lifestyle. It is quite temporary, and so are they pay checks.
In ESPN's 30 for 30 film "Broke", we are introduced to the not so luxurious lifestyle of retired professional athletes who are facing extreme financial debt. The film stated that nearly 78% of former NFL players file for bankruptcy just two years after their retirement. While most professional athletes are caught up in the fame and money of their careers, the idea of someday not playing the game isn't necessarily on heir minds. I think a key ingredient to this irresponsibility is the lack of financial education. When entering the NFL, you are well aware of the external accounts that come with being a professional athlete. What many are not aware of, is the constant competition not only to be the best on the field, but off of the field in terms of materialistic and unnecessary items. It's truly a game outside of the game. Cars, homes, jewelry, gambling, etc., are no longer desired, but required. This battle of materials is what causes x-NFL players to go into debt.
As athletes transition from their professional lives to their retired lives, not only have their careers come to an end, but their lifestyles. They no longer receive million dollar paychecks, but they solely depend on their "savings" from their past NFL career. Whether the former player saved money or not determines where they are now. In ESPN's Life After Football article, we learn the many challenges x-players now face. Troy Vincent, a former Pro Bowl corner back states: "Every athlete has to face the same question when they are done: Who am I?". While this question may trigger what their next steps in life may be, this question also both mentally and emotionally effects their lives. This question can send many players into deep depressions and cause harm for themselves or others. The US is keen on measuring success through money, power and fame. This expectation/ standard plays a huge role on how an why professional athletes may save or spend their money. As previously mentioned, it is a constant battle to compete both on and off of the field.
Personally, I was aware of life after the NFL, however I was not aware that a shocking 78% were financially unstable in today's society. I think this goes to show the cultural "norms" are no longer normal and achievable but are set to high, unreachable standards that creates an unhealthy competition between professional athletes. Although it is hard to feel sorry for former professional athletes who are now bankrupt, I understand the struggle of competition. Unfortunately, I don't think paying for your 10 kids' child support and gambling and buying 6 cars are "cultural norms"and players should be aware of that before living that kind of lifestyle.
References:
ESPN's 30 for 30 film "Broke"
Life After Football. ESPN. 9/25/12. (p.3 of 15)
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