Just read thru Yahoo an article titled, The 7 Costly Pro Athletes Screw ups. It details 7 examples of professional athletes who just squandered their millions of earnings even resulting into bankruptcy for some of them (boxer Mike Tyson is cited as an example). Yes I remember watching Tyson in a recent movie, Hangover, where he was featured as having a Bengal tiger (according to this article, he bought this tiger for about 70,000 dollars each). Tyson filed for bankruptcy last 2003 (no wonder he has to just to earn his dough by being an extra in this movie)
Having a million dollar income and a stellar career in sports, for example, does not mean an automatic sense of business or financial savvy. Being financially literate takes some effort to learn, but it is worth it - ultimately it will benefit us in the long run.
Again, it is not the money we earn rather how we keep the money (and make it grow) is all that matters. You can ask any lottery winner (who just squandered their millions) about this.
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