The Sporting Life

Many of us have fantasized about what it might be like to be a star athlete, and sign one of those big free-agent contracts bringing in tens of millions of dollars, especially while we're still young enough to get full enjoyment out of the money. Well, what it turns out to be like for a lot of those players is that they go broke. Last year, Sports Illustrated did some research into what happened to some of these megabucks athletes after their playing careers ended, and the results were not pretty:

* Within two years of their retirement, 78 percent of all former NFL players are bankrupt or under some kind of financial stress.

* Within five years after the end of their career, an estimated 60 percent of all NBA players are bankrupt.

* Former Nets star Kenny Anderson spent all of the $63 million he made in his basketball career and declared bankruptcy just months after his retirement.

And the list goes on and on. Clearly, it takes more than millions of dollars to be set for life. It takes a plan.