Columbus Blue Jackets defenseman Jack Johnson “has earned more than $18 million during his nine-year NHL career, not including the $5 million he will be paid this season,” reports BlueJacketsXtra.
Still, Johnson recently had to file for bankruptcy, adds the outlet, due to four years of risky loans, and several lawsuits. Read more.
His case, which allegedly involves his parents, is extreme, reports time.com. But two lessons can be learned from his predicament. These are:
- Financial literacy needs to taught in schools
- Young, professional athletes need good financial advice
Read more about why these lessons matter. Also check out:
Cross-border concerns for athletes
How athletes and investors are alike
A look at NHL players’ tax troubles
Make financial literacy lessons fun
Advising clients with short careers
Wes Edens wants to reduce number of NBA players filing for bankruptcy