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NFL star Michael Vick has gotten some media attention lately for reportedly blowing through $30 million dollars since 2008. This might sound like yet another story about broke black athletes, but maybe it’s not so bad. We’ll let you do the judging after we tell you what he spent his money on.
Out of the $30 million that Vick has made since 2008, he has spent $10.9 million to the IRS, $9.2 million to pay off his debts, $2.7 million to his accountants and attorneys, and the rest for living expenses. Just last year, Vick hit pay dirt by signing a seven-year deal worth $100 million dollars, so he’s going to be OK in the long-term.
By the way, $40 million of Vick’s money is guaranteed, which means that he’s going to have a lot of money rolling in over the next several years. We hope that he learns from his mistakes and spends that money on good things, makes investments and prepares himself for life after football. If he does that, then the worst years of his life can be the great lessons to prepare him for the future.
Good luck Mr. Vick.