When college athletes are drafted by a professional franchise team, the public might think that their whole life is going to change.

Millions of dollars are awarded to the best of the best and the not so great players even earn six figures.

If I was told that I’ll be making millions of dollars a year, I wouldn’t have a stress about finances ever again. Though this may be true for some, the key to sustaining your wealth is planning ahead.

Most athletes get their money and blow it – meaning spend it really fast on materialistic things. This is no joke.

There are many professional players that have filled bankruptcy once their career was over. However, they must not realize they will not be able to play the sport they love their whole life.

They only get paid the time they are playing on that level and their bodies hold up.

Players don’t get paid to cheer on their old team. They get paid by either playing, coaching or broadcasting in some way for the franchise.

This is why it is important for students to earn their degree before leaving for a larger platform. Many professional athletes have to go back to the college classroom but getting it out of the way first is ideal.

With a degree, athletes have something to fall back on when their sports career fades with age.

For athletes out there, I encourage you to use your money to make more money because those millions won’t be in your account if you don’t plan.

More players should start thinking about creating an empire for themselves, for their future and for their families. Jewelry and clothes mean something but it shouldn’t mean everything.

It won’t mean much in 50 years. Planning ahead is the key to a successful retirement and a college education is the best way to make that happen. Athletes: Take college seriously.