Brad Rock: Ex-Ute Luther Elliss learned lesson while losing wealth

“Most of it was bad investments, good money chasing bad money, trying to save it instead of cutting your losses,” he said. “I'm not one to give up too easily on things, so it was always just a little bit more, a little more time, a little more money and before we knew it, I put up the houses and guaranteed the loans, and when that came due, the bank came knocking on my door.”

Elliss believes the NCAA should teach money skills to aspiring athletes. Meanwhile, the gold-to-fold story has a moral for everyone.

“It's not just professional athletes that are doing this. Look at our country – it's trillions in debt. Where are we going? We're still spending,” he said. “It's something I've been advocating recently, especially at younger levels, we need to educate them in the basic finances and understanding you can't spend more than what you make.”

Even when you make enough to have it all.

Email: rock@desnews.com; Twitter: therockmonster