Why do most athletes go broke after retirement?

Most athletes go broke after retirement because they cannot maintain the lifestyle they had while playing. When athletes are actively playing, they make substantial income, but once they retire, that source of income disappears or decreases significantly. Many athletes try to keep up the same expensive lifestyle they had during their playing years, which becomes impossible without the high earnings. Additionally, young athletes often focus on material possessions like chains and cars rather than building wealth through investments and financial literacy. Without proper financial education and planning, athletes spend money on a false reality and false lifestyle instead of building sustainable wealth that can support them after their playing career ends.