4/27/12 BR- What is an I.P.O.
BR 1. How much do high school students know about personal finance and economics? • Is there payoff for learning personal finance? • Why did some rich athletes go broke?
Correct Answers • On two major national tests, the average score was an F. • Yes, it can make you wealthier. • There are more reasons for that; one of them is that they didn’t have personal finance in high school.
Rich Athletes Who Went Broke • According to Sport Illustrated, about 78% of former NFL players are broke or financially stressed after retirement, and 60% of former NBA players go broke five years after retiring.
Raghib “Rocket” Ismael • He played two years in Canada and 10 in the NFL . • Estimated lifetime earnings: $20 Million.
Evander Holyfield • 4-time Heavyweight Champion of the WorldEstimated lifetime earnings: $250 million
Lawrence Taylor • New York Giants MVP • Estimated lifetime earnings: $50 million
Darren McCarty • Stanley Cup winner, 11-year Detroit Red Wings playerEstimated lifetime earnings: $10 million • Darren McCarty
Travis Henry • Starting running back for the Buffalo Bills, Pro Bowl selectionEstimated lifetime earnings: $20 million
John Arne Riis • Estimated lifetime earnings: $20+ million
Scottie Pippen • 6 NBA championships with Michael Jordan, forward for the Chicago BullsEstimated lifetime earnings: $120 Million
Grace Groner • Grace purchased $180 stock in Abbott Laboratories, where she worked as secretary for 43 years – and, thanks to her frugal lifestyle and thoughtful investing, she build a $7-million-dollar fortune. • She left her entire estate to Lake Forest College.
The Millionaire Game • Listen to the rules of the game
HW • Write a brief essay about how to become a millionaire.