This is going to shock and annoy a lot of people, but for the most part, people build their lifestyle around their income. It’s a broader cultural indictment that there isn’t an upper limit on that, but most ppl can’t maintain life as usual when their main source of income stops https://twitter.com/realjaywilliams/status/1247252182245748737

It’s all proportional. The average American spends 73% of their household income. The bottom income quartile spends 100% of their income (because they have to for survival). The top quartile spends about 53%.

The issue is, if cash flow stops and savings and investments aren’t sufficient, or you’re over leveraged with debt, you’re screwed either way. Pro athlete expenditures can be compounded bc they’re more likely to support multiple households in addition to general consumption

And all people are susceptible to “lifestyle creep”, which is why it helps to be intentional about the type of guardrails and systems you set up in your financial world, and that’s even more important when you earn a lot

I say all that to say, it’s probably annoying af to hear an NBA player talk about the financial challenges stopped paychecks will bring for millionaires. I won’t dismiss the merit of that totally. But a lot of that is rooted in basic human behavior and a broader excessive culture