March 1, 2021

Bucks Blog: High-Class Problem: Sudden Money

In this week’s Your Money column (and in an accompanying slideshow), Nadia Taha and I catalog many of the ways that athletes run into financial trouble and what we can learn from them.

I was struck during the reporting by the fact that people kept repeating the same things over and over again, so much so that by midweek I started calling them “The Three S’s”: going Slow, starting Small and applying Scrutiny.

These are good first principles for anyone who suddenly comes into more money than they are used to. If this has happened to you, pro athlete or not, how have you handled it?

Article source: http://feeds.nytimes.com/click.phdo?i=49175e08d3d9a0c9b5e2f5f2abf72fae

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