I was looking over the net worth of a specific baseball player and it says his net worth is between $6 million-$15 million. But in the same article it says he earned $51 million playing four seasons in the majors. If he earned $51 million how is his net worth $15 million max?
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professional athletes are not generally well known for smart money management
they have to pay their agent, their manager, their publicist, etc. They are in the top tax bracket, so state and federal taxes take a big chunk. They have to pay for expensive houses and sports cars and buying a house for their mom and a car for their dad. And vacations and child support and their drug dealer and their three girlfriends and their entourage that follows them to parties
plus their contracts are not paid in a lump sum, they are generally paid out over time and contingent of various things
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