As excited as I am about the imminent return of NFL football, I'm heartbroken to see family and friends taking advantage of players:
http://ftw.usatoday.com/2016/08/trent-richardson-money
This ties into the fact that there's an alarming
lack of financial literacy in this country! If you don't watch your business and make a plan for what to do with your cash, you'll look up one day and wonder where it all went! However, as the #3 overall pick in the 2012 NFL draft, he signed a rookie contract for over $20 million guaranteed, plus a $13.3 million signing bonus. So the lost $1.6 million shouldn't destroy his finances, as long as he didn't blow through the other $13 million that should be left after taxes.
A reminder that if you want to avoid being broke, you have to keep up the
right mindset--whether you're an NFL player or a
grad student!
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