“Success” is an interesting word in our society. It has been narrowly applied to a specific group of people that others uphold as having “made it” in the world. Success almost always directly translates to “rich,” and strictly in monetary terms. In light of this perspective, it’s important to recognize that at some point in life, almost everyone will face financial challenges. Even the people society has deemed successful either have struggled, or will struggle, financially. Bankruptcy has been a great way to get a fresh start throughout history.
For example, athletes are some of the most celebrated people in our nation. Their salaries are often discussed as extreme, and thus as the epitome of success, yet the majority of them struggle financially after retirement. According to Sports Illustrated, an estimated 60% of former NBA players are broke within five years of retirement. In the NFL, an estimated 78% of former NFL players face bankruptcy or financial stress within two years of retirement. Those are not good odds, but of course the moral of the story isn’t that athletes should avoid playing for the NFL or NBA. Some of these financial difficulties come about because of unwise spending and investments, and that is something that people struggle with regardless of their salary or profession. Some former athletes might be faced with unexpected life events that they cannot afford–such as medical emergencies–and as we all know, that definitely can happen to anyone.
Ultimately, the point is that anyone can find themselves in a tough spot financially. The great news is that they can also rise above those circumstances and get a fresh start. If you are struggling financially, remember you can start over and bounce back.
“Don’t be afraid to start over. This time you’re not starting from scratch, you’re starting from experience.” -Steve Harvey
Starting over may feel intimidating, but you have a lot working in your favor: you’ve learned some things from your experiences, and struggled through really challenging times. Most importantly, you recognize that you need some help getting back on your feet. That’s success in our book! And if you call our office today to set up a consultation, you’ll soon have a trusted attorney working in your favor as well. Contact us at 801-221-9911 and we’ll set up a free bankruptcy consultation so you can be on your way to getting a fresh start.