Columbus Blue Jackets defenseman Jack Johnson has earned more than $18 million over his nine-year NHL hockey career. But according to bankruptcy documents filed last month in federal court, it's almost all gone.
Not only is Jack Johnson broke, but Johnson has outstanding debts of as much as $15 million, reports The Columbus Dispatch. And while the story of a professional athlete squandering large sums of money is nothing new, Johnson's path to bankruptcy has an especially cruel twist. Many of the financial decisions that led him to this point were made by his parents, to whom he had given full control of his finances.
What can be learned from Jack Johnson's bankruptcy? Here are three lessons: