1. Allen Iverson

         -cash blown: $200 million

 

From riches to rags that’s Iverson’s life story. He raked in over 200 million dollars throughout his NBA career and now he is broke and ‘What happened?” is the question on everyone’s mind right now. Iverson was a spendthrift plain and simple. Throughout the period of his career he became accustomed to living a lavish life.

Do not get me wrong there is nothing wrong with treating yourself but know your limits especially when the checks stop rolling in. After his retirement, Iverson had no serious investments but he still continued spending his money like it was spare change.