CNN Money
Who wouldn't want to be Jadeveon Clowney?
The NFL's top draft pick just landed around a $22 million contract with the Houston Texans and bragging rights for life. His face is everywhere, and his name is a trending Twitter hastag.
But while Clowney -- and hundreds of other NFL rookies -- know a lot about football, they know little about managing money. Many are likely to end up bankrupt.
"I've made millions and Iost millions," admits Eddie George, who was a first round draft pick in 1996 and went on to play nine seasons in the NFL as a running back.
"I bought a ton of jewelry coming out, cars, a stereo system that was worth more than the car," George says. "I found out real quick that money and ignorance is not a good combination."
He was once in a shop in Atlanta and was so excited they had gator shoes that fit his size 14 feet that he bought 20 pairs. He's pretty sure he never wore any of them.
George, who has gone on to a successful acting and entrepreneurial career, advises young NFL players to live modestly and figure out what they need versus what they want.
Big salaries, big problems
Maurice "Mo" Kelly has been a friend and mentor to many athletes over the years. He's senior director of player development for the Seattle Seahawks, a post that entails helping players with everything from getting a place to live to figuring out where and what to eat.
He'll be one of the first people greeting the latest draftees when they land in Seattle.
"A lot of these guys don't have any concept of money. I always ask the question: How many of you guys ever made over $10,000 a year in your life?" says Kelly. Usually no one raises their hand.
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