Tuesday, July 24, 2007

Wealth Training Should be Mandatory for Young Athletes

How many of you are just as tired as I am of hearing of young athletes and starlets who seem to have it all throwing their careers away for something stupid? Like, oh, running a Dog fighting ring when you are worth millions in a NFL contract and a lucrative Nike endorsement. Like shoplifting when your bank account is bulging. Or perhaps "making it rain" in a strip club and then getting upset when the dancers actually pick up the money.

There are dozens of young athletes and actors who seem to have their heads screwed on right. And that is great to see. Many of these young adults have a stable, supportive family to thank for their continued careers. Others just have a good head on their shoulders. Ultimately, it is up to the individual to make good choices. Even family can only do so much. However, it seems irresponsible for athletic organizations, networks, or record labels to just hand over millions of dollars to a young person without providing some sort of program to help them learn the importance of making good choices.

Many of the people we hear so much about are basically just spoiled brats who everyone has been afraid to say no to - including their parents. To make matters worse, they f*** up time and again with seemingly no consequences. This only emboldens their next act. The results are disastrous.

What will it take to make the young and wealthy become more responsible?

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Born Diva said...

Truth is this training should be manadatory for all young black men the haves and have nots.

Samara Leigh said...

Race and gender are not an issue on this one. Lindsey Lohan, Paris Hilton, Nicole Ritchie and a slew of other young athletes, actors and actresses have proven that.

There was a great article in the Plain Dealer this past Sunday by Regina Brett. It was a call for parents to be parents to their kids. Not best buddies who are afraid to say no. That is a great lesson for ALL parents.

Michelle O'Neil said...

Yes, it is amazing that we are not taught a thing about money in school. At least I never was.

And now the credit card companies prey so heavy on the young and vulnerable.

Don't even get me started on the payday loan places (otherwise known as Lucifer's workshops).


Samara Leigh said...

Michelle, you are so right. The credit card companies can't wait to get young adults in debt with their affinity cards. So slimey.

I saw a commercial the other day where the payday loan companies were doing a public service announcement on the responsible use of payday loans. It's become a huge problem. It is not unusual for people to get a loan from one payday loan place to pay back another.