Athletes learn money lessons the hard way

[YardRat]

http://www.orlandosentinel.com/sports/orl-sowens0208jun02,0,3244571.column

The NFL Players Association estimates at least 60 percent of athletes go broke within their first five years after retirement.

Buffalo Bills lineman Derrick Dockery, 27, is going to make sure that does not happen to him.

There was a time when he wasted money on jewelry and big-boy toys as he waited for his next paycheck. But he credits his wife Emma, 26, for putting a stop to that.

His wife, whom he met in college at the University of Texas, majored in investment banking.

With Emma's help, he was able to make wiser financial investments instead of squandering their future.

"I was young and just happy. This was the first time I had something like that," said Dockery, who signed a $49 million contract with the Buffalo Bills last year.

[Historian]

Re: Athletes learn money lessons the hard way

Nice to have an investment banker as a wife...still...you would think 49 mill would last at least a little while, huh?

Especially in a town as depressed as Buffalo.

[Luisito23]

Re: Athletes learn money lessons the hard way

Of course she doesn't want him to spend all his loot.....If he goes broke now, who will pay for her alimony later???....:

[Night Train]

Re: Athletes learn money lessons the hard way

A few years back, Eric Moulds took his SUV/Hummer in to a local well known stereo shop to have it customized with a 10K system. Soon after, about 7-8 other Bills showed up, wanting the same system. My cousin ran the place.

I remember Raion Hill being one of the guys but almost all were marginal roster players making the minimum. Most all were gone within a year. I remember my cousin wondering why these guys were blowing so much $$ on crap, when they would be lucky to make the team.

They think 80-100 K equals 10 Mil.

[Luisito23]

Re: Athletes learn money lessons the hard way

Plain stupidity NT!....

[Night Train]

Re: Athletes learn money lessons the hard way

Plain stupidity NT!....

and during that time, Moulds was stiffing some of his girlfriends on child support.

[Historian]

Re: Athletes learn money lessons the hard way

And to think...all that stereo equiptment is outdated now...