Here's a statistic that may shock you: 78% of NFL players declare bankruptcy within five years of leaving pro football. In this video, Austin Smith offers two lessons from this sad statistic: Spend less than you earn -- much less, in the case of professional athletes, who have a short window for earning big paydays -- and have patience in building your wealth. While we may dream of a big payday, chances are we'll have to slowly accumulate wealth.
For more details, including how Warren Buffett figures into the equation, check out the video.
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The article Investing Lessons From the 78% of NFL Players Who Go Broke originally appeared on Fool.com.
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