All this talk about the possible lockout on Friday had me thinking: man, if I made the kind of money that NFL players make, I wouldn't have any problems at all. That is, I wouldn't have any money problems at all for the rest of my life!

Financial experts familiar with the NFL say that 25% of NFL players live paycheck to paycheck. I thought living paycheck to paycheck really only applied to people living beneath the Federal Poverty Level. Apparently not; it also applies to millionaires. The minimum salary in the NFL is $320,000 and the average is $1,870,000!

If there is a lockout and an agreement cannot be reached and this drags on to the next season, games will be canceled and players won't get paid. What will happen to those living paycheck to paycheck? The players' union has been anticipating something like this; for two years they've recommended to the players that they start stowing away their cash. Some were smart and hired money managers to help.

So, how does this happen that someone making all that money can't save it? It comes from several factors. First, most players were raised with very modest means; for many of them, their families were broke. When someone is raised like this, it's easy to understand why they go wild with all that money; they've never dreamed of sums such as this. But, then it goes a step further. Their best friend from third grade gives them a call and says, "Remember the time when we were nine years old and I saved your life?" Now the player is obligated to give them some of their cash. And so on...

Over 80% of retired NFL players have declared bankruptcy in retirement. Take a lesson from New York Jets linebacker Bart Scott: he said he learned something from Baltimore Ravens owner Steve Biscotti, who said, "You can live like a king for a while, or you can live like a prince forever." Scott says he likes the idea of living like a price forever.

Dave Duesson, a member of the 1985 Chicago Bears Super Bowl championship team declared bankruptcy last year and committed suicide in February. It isn't worth it. Make a plan; make a spending plan.

If people making a seven-figure income have to declare bankruptcy, doesn't that make you scared if you're only making a five-figure income?

What are your greatest fears about money? Do you have a fear of not having enough when you have no income? Please let me know your thoughts in the comments below.