I think there's an even simpler point that people who make fun of athletes for blowing their paychecks instead of saving them miss:
* These are elite athletes at the top of their pyramid, which means they have an absolutely bonikers elite competitive drive that got them where they had so far.
They were probably the best player on every team they've been since kindergarten. They've made it to the top of the pyramid and most want to keep going. Championships, all-stars, MVPs, all of these are things they are USED to getting at every level so far, and they want to keep going.
So when they sign there $X00,000 rookie deal they're not thinking "OK how do i save the most of this for my retirement", they're thinking "how do i get $Y,000,000 deal next? And the $WZ,000,000 deal after that?" And of course then I'll be set for life, and it will be easy to save and retire cuz i'll be rich.
* These are elite athletes at the top of their pyramid, which means they have an absolutely bonikers elite competitive drive that got them where they had so far.
They were probably the best player on every team they've been since kindergarten. They've made it to the top of the pyramid and most want to keep going. Championships, all-stars, MVPs, all of these are things they are USED to getting at every level so far, and they want to keep going.
So when they sign there $X00,000 rookie deal they're not thinking "OK how do i save the most of this for my retirement", they're thinking "how do i get $Y,000,000 deal next? And the $WZ,000,000 deal after that?" And of course then I'll be set for life, and it will be easy to save and retire cuz i'll be rich.
This is just human nature.