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A comment on How and Why Athletes Go Broke (2009). Parent comment

Re:How and Why Athletes Go Broke (2009) by LordKano on Friday February 09, 2018 @04:36PM (#16344040)
I would consider a much less drastic step.

Mandatory contribution of 10% of their income into an investment account and that has a maximum annual withdrawal of 1% until age 55.

If they otherwise destroy their finances, they'll at least be able to afford a place to live.

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Re:How and Why Athletes Go Broke (2009) by Kluny on Friday February 09, 2018 @04:58PM (#16344206)
In Canada we have the CPP (Canada Pension Plan) which is almost literally this, except everyone pays into it.
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Re:How and Why Athletes Go Broke (2009) by LordKano on Thursday February 15, 2018 @04:38PM (#16387908)
In the US, we have Social Security and everyone pays into that but for the most part, you can't collect anything on the benefits until you reach retirement age or become permanently disabled.
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Re:How and Why Athletes Go Broke (2009) by ggm on Friday February 09, 2018 @11:40PM (#16345925)
Not a bad idea. Here in Australia we call that superannuation. 9% of salary is mandatory.
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