NFL players to rookies: Stop spending

This past weekend’s NFL draft minted a few new millionaires among the top picks, with the lower-rated rookies pulling in at least the league minimum of $420,000 this year.
 
With such robust paydays, one might think these guys have lifetime financial security or at least a solid leg up on saving for the future.
 
In reality, 78 percent of NFL players are broke two years after their playing days end, according to CNNMoney. In the report, NFL veterans who segued successfully into lucrative second careers dole out advice to rookies on how to hang on to their cash. Sample tip: Don’t impulsively buy 20 pairs of alligator shoes.

Read more from CNNMoney.