Once the youngest player to ever win the Wimbledon men's tennis singles championship, 49-year-old German-born tennis star, Boris Becker, has been declared insolvent by a UK Bankruptcy and Companies Court.
Becker at one point boasted a personal fortune of over £100 million.
According to a 2009 study by Sports Illustrated Magazine, 78% of NFL players go bankrupt within two years post retirement due to joblessness or divorce.
About 60% of former NBA players are broke within five years of retirement.
The Money Show’s Bruce Whitfield interviewed Henry van Deventer, Head of Wealth Strategy at Old Mutual Wealth.
Research by the National Endowment for Financial Education showed that 70% of those who receive a large windfall of money, end up going bankrupt a few years later, said Van Deventer.
For more detail; listen to the interview in the audio below.
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield interviews Dr Adrian Saville, Professor at Gordon Institute of Business Science (Gibs).
Bruce Whitfield interviews Maluleke – the first black woman to lead a South African bank.
Nedbank will reconsider its relationship with KPMG in 2019. The Money Show’s Bruce Whitfield interviews its CEO Mike Brown.
Bruce Whitfield interviews Lee Kasumba, who speaks about two South African guys selling deep fried chicken in Abidjan.
The Money Show’s Bruce Whitfield interviews Jan-Adriaan du Plessis, Associate Director of Strategy and Operations at Deloitte.
Bruce Whitfield interviews Africa Connected host Lee Kasumba, who is crisscrossing Côte d'Ivoire to learn about its opportunities.
A woman has penned her triumphant story of survival after being sexually abused by an uncle as a child.
Stress, diet and lack of exercise can all contribute to a loss of libido.
Observatory rate payers say they were never consulted about the 10 000-seater football stadium that is to be the home of City FC.
Khayelitsha Hospital staff claim they were ill-treated in front of patients during a visit by a Parliamentary Select Committee.
Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)
Mugg & Bean has agreed to pay for customers medical bills after a month of being in pain and pestering the chain to pay the bill.