78 percent of NFL players will go bankrupt within two years of retirement according to Sports Illustrated. Whether it’s football, the lottery, an inheritance—when people suddenly come into money, more often than not, they are unprepared for how to deal with the windfall. Let me tell you why… and how you can avoid that sort of fate.
If he were alive today, my poor dad would have struggled financially even without his bad investments. He most likely would not have been comfortable. Today, the middle class is quickly disappearing. But it’s a different sort of disappearance than people think. Read on to learn more.
The economy is booming. Which means the market is up, people are looking at their higher net worth, and thinking it means they’re rich. Yet, this understanding is exactly what caused the demise of so many uneducated investors in the early 2000’s and even more so in 2008. Don’t fall into the trap. Work around it.
Last week, Amazon announced it will be raising its lowest-paid U.S. employees’ wages to $15. They said they would now lobby in Washington D.C. for an increase in the federal minimum wage and urged competitors to follow. But I ask, will an increase in wages actually shrink the gap between the rich and the poor?