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The NBA Draft is right around the corner. On June 20th, a few dozen college basketball players will become instant millionaires as soon as their name is called. It’s a life-altering event, and for many, the culmination of a lifelong dream.
Unfortunately, the dream can turn into a nightmare for some professional athletes. A 2009 study from Sports Illustrated found that 60 percent of NBA players go broke within five years of retirement. More than three-quarters of NFL players face financial difficulty within two years of retirement.1
3 Most affordable places to retire in the world
Where will you retire?
Summer has finally arrived. It’s time for sunshine, barbeques and maybe even vacations to the beach. If you’re still working, you may only get one or two weeks a year to escape from the office and enjoy the great weather. However, once you’re retired, you’ll have the time and flexibility to enjoy a beach and a tropical climate as much as you want.
In fact, many retirees choose to not only vacation frequently, but to actually relocate to a warm, tropical location. Many do it for lifestyle reasons. They want to be able to enjoy the outdoors year-round. Others may do it for health reasons. They may have illnesses or conditions that are less severe in warmer weather.