Gambling as well could be one factor. I remember one player, when his friends and entourage going to Las Vegas and play and gamble and have fun all night long. So that is the dangers for this young black players, very young and with a lot of money at their disposal. And then the lack of knowledge of how to handle that money. I think Antoine Walker becoming a spokesman to new players because he is one of those who fell victim on it. Hopefully Beasley can get up from his predicament right now and can bounce back and have a better life. 60% is a huge numbers for NBA players going bankrupt after their career is over. The NBA might have responsibility as well to remind players when they are coming into the league and let them know the consequences of their actions in the future if they didn't take care of their money.
Yup, most of those who mishandled their fortune ends up messing up their lives, though nowadays there are many available investment that players can choose to take care of thier money, they just need to think more about their future and just spend what's already spare, with huge contracts that they are recieving it's their obligation to themselves to set their future and not to live like there's no end of this fortune knowing that with a single mistake or an injury can completely ruined their careers.
Its so bad to experience those things and its great for new generation of ballers that they have something to look at if they mishandle their finances.
That's why proper financial planning towards their future is important since even if they are earning huge money from the contract they get from NBA there's still a huge chance that they got broke especially if their spending's exceed to their career earnings.
Its hard to return back on high status if they already experience hardship in life. Since no teams would give them a huge contract especially if they have lots of issues or old enough to play competitive basketball.