Joe Smith
Joe Smith spent 16 season in the NBA, but played for 12 different teams throughout. He earned $60 million during his time in the NBA, but because he kept moving around and buying new homes in each place he moved to, he ended up bankrupt by 2018. With help from a financial advisor that A.Rod recommended to him, he was able to pay off his debts and get back in good financial standing.
Joe Smith
Bernie Kosar
Bernie Kosar played in the NFL for 12 seasons, signing for a $6 million contract in his first year alone. He decided to let his father manage his money, which ended up being a huge mistake. His father used up Kosar’s signing bonus on cars and on his mortgage. Ultimately, his father caused him to lose $15 million and by 2009, Kosar declared bankruptcy.
Bernie Kosar
