Lesson #3 with Prof. Annamaria Lusardi: A case study on the NFL 🏈

Athletes start declaring bankruptcy as early as two years after the end of their athletic careers and about 16% of NFL players will go bankrupt within the 12 years following retirement, research from Prof. Lusardi and collaborators found. Whether a football player or the average individual, our consumption should not track income. One of the main reasons to save is to provide for retirement, when earnings are much lower, or for precautionary savings, for example having a rainy-day fund, to be able to face shocks, such as a layoff or other unexpected events. Use this calculator to see how much to save each period, determine how long it will take to reach your goal, such as retirement, or estimate the future value of regular savings: https://ifdm.stanford.edu/resourcehub/calculators/savings-calculator For more, follow IFDM on LinkedIn: https://www.linkedin.com/showcase/stanford-initiative-for-financial-decision-making/