Kiplinger

Professional Athlete Money Mistakes We Can All Learn From

Professional athletes are notorious for dropping the ball when it comes to dealing with their finances.

I know it's hard for most people to be sympathetic when a highly paid superstar ends up broke, but I usually am. I was a professional baseball player in my 20s, and I know how hard it can be to get good advice and to stay on top of what's happening with your finances when you're young, working hard and traveling all the time.

When the stock market plunged in 2008, I saw a third of my savings disappear. I had a degree in finance, but I had no relationship with my adviser and no real game plan for my future security.

When my playing days were over, I wanted to help other pro athletes get it right -- and I quickly realized many of

 

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