Back in October 2012 ESPN released its first episode of 30 for 30′s second season with a documentary titled “Broke”, detailing how so many athletes end up broke and bankrupt shortly after retiring from their given sport.

[VIDEO] – ESPN “Broke” Documentary

The Reason Most People Are Broke, No Financial Education

This echoes what many reports have stated regarding lottery winners ending up in bankruptcy within three years of submitting their winning ticket.

Why is this? It can’t just be a coincidence, can it?

The answer in short is no, its not a coincidence. The biggest misunderstanding about money is that in actuality, building wealth is not an event, but rather a process.

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Looking for information on why eliminating your debt important??

debt freeIt doesn’t take a rocket scientist to see what is going on in the world today. We are living in an unstable economy. One in four mortgages are now underwater. That means the homeowner OWES more than their home is worth!!! And if you have a mortgage on the home you “own”, do you think the home is really yours?

It’s not. Your lender owns the home. You just live in it and control any equity you may have in the property. You also have the right to sell the home at any time as long as you are not delinquent on the payments. But you’ll own the home only AFTER you pay‐off the mortgage.

Proverbs 22:7 says, “The rich rules over the poor, and the borrower becomes the lender’s slave.”

Did you know that almost 15 million people are unemployed? Do you think any of these people ever imagined that they would lose their jobs or have to stand in an unemployment line to collect an unemployment check in order to pay their bills? I bet they thought it would never happen to them!

In America our personal debt is at an ALL TIME HIGH! How many of you reading this article have credit card debt, student or car loans and struggling to make the monthly payments?

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