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A comment on Square Will Name Earvin “Magic” Johnson to Board of Directors. Parent comment

Re:Square Will Name Earvin “Magic” Johnson to Board of Direc... by emodendroket on Wednesday June 17, 2015 @01:58PM (#9733909)
A lot of pro athletes come from disadvantaged backgrounds where they haven't really become used to managing money beyond a hand-to-mouth way of living and then all the sudden they have tons of money in their laps that seems limitless. So basically a lot of them end up burning through it all and being essentially broke after their careers end.
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Re:Square Will Name Earvin “Magic” Johnson to Board of Direc... by giarc on Wednesday June 17, 2015 @02:37PM (#9734283)
A former NHL player wrote about this issue (getting handed a bunch of money at a young age). [1]

1. http://www.theplayerstribune.com/the-new-avery-rule/

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Re:Square Will Name Earvin “Magic” Johnson to Board of Direc... by r0naa on Wednesday June 17, 2015 @02:14PM (#9734067)
I see where you are coming from but I think it's worth mentioning that a disproportionate amount of people born in the upper classes have also never had to manage their own money.
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Re:Square Will Name Earvin “Magic” Johnson to Board of Direc... by emodendroket on Wednesday June 17, 2015 @03:19PM (#9734576)
They have at least probably observed their parents managing money with a more long-term view.
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