HuffPost Live's Marc Lamont Hill spoke to several former football players including Keith McCants, the fourth 1990 NFL draft pick, Luther Elliss, who played with the Detroit Lions, and Winfred Tubbs, a former all-pro linebacker with the New Orleans Saints about post-NFL poverty and whether playing in the NFL is worth it.
Tubbs related the epic rise and fall to that of lottery winners, many of whom come from low socioeconomic status. "If you don't come from money, you don't know what to do with it once you get it," Tubbs said. "Once they win it they don't know how to invest it."
Ed Butowsky, a managing partner at Chapwood Capital Investments, explained why many retired NFL players go broke.
"The number one problem that I see is that they over-allocate money into private equity and real estate," he said, adding that "80 percent of private businesses don't work out."
Watch the discussion in the video clip above.