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Why NBA Athletes Go Broke | Tyler Herro

Tyler Herro was one of the guests on GQ Sports' show How I Spent My First Million which allows an athlete to share how they spent their first million dollars after getting drafted. Tyler spent money on a purse for his mom, two cars for himself, a car for his dad, and plenty of accessory expenses. It's cliche that many professional athletes go broke and this episode sums it up pretty easily. Within 6 months of entering into the NBA, Tyler had already spent half a million dollars on items that are liabilities and would not be generating any money. Professional athletes go broke for many reasons and spending money recklessly when thinking a second payday is guaranteed is one of the main reasons. Tyler isn't married which is generally the #1 reason why professional athletes go broke. The video only set aside $400k for taxes, investments, and savings. Based on his base salary of $3.6 million, Tyler would probably spend at least $1.5 million on taxes, agents, lawyer, accountant, manager, chef, etc. which isn't accounted for if they are only setting aside $400k for taxes, investments, and savings. This video will provide you with a general idea of personal finance and how to invest for beginners. --------- SOCIAL MEDIA --------- ★ Instagram ★ ↪   / spencercornelia1   ★ Facebook ★ ↪   / spencer.cornelia   ★ TikTok ★ ↪ https://www.tiktok.com/@spencercornel... ★ LinkedIn ★ ↪   / spencercornelia   --------- POPULAR VIDEOS --------- ★ Why Your Favorite Musicians Are Broke ★ ↪    • How Record Companies SCAM Their Music...   ★ Part 2: Why Your Favorite Musicians Are Broke ★ ↪    • Part 2: Why Your Favorite Musicians A...   ★ Why Your Favorite Athletes Go Broke ★ ↪    • Why Your Favorite Athletes Go Broke   ★ Why NFL Athletes Go Broke Ft. Dwayne Haskins | YouTube Financial Advisor ★ ↪    • Why NFL Athletes Go Broke   ★ Will Tua Tagovailoa Go Broke..? | My First Million | GQ Sports ★ ↪    • Will Tua Tagovailoa Go Broke..? | My ...   --------- MY BOOK LIST --------- https://docs.google.com/spreadsheets/...