Jack Johnson's sad tale... and why I don't trust my parents with my money

For those unfamiliar with sport, Jack Johnson is a hockey player. Actually, he's a little more than just a hockey player.

He's a defenceman, and is good enough that he can command  a seven-year, $30.1 million dollar contract with the Columbus Blue Jackets. He is in year five of that deal, earning $5 million a year having already earned around $18 million already in his nine year hockey career.

You'd think he's swimming in money right now, right? Well... no he's not.

 In fact, he's flat broke.

The story of the wealthy athlete suddenly becoming flat broke is not an unheard of one in sport. But what is surprising, even alarming about this story is that it was not Johnson himself who predicated the downfall; it was his parents and their absolutely abominable money management that led to his personal bankruptcy.

For most people, the thought of not being able to trust ones own parents is basically unthinkable. After all, they were the ones that fed you, clothed you and loved you unconditionally growing up. (or as is the case, are the ones that should have) So the thought of parents being anything but loving guardians is basically unfathomable. 

But as I learned early in life, a parent's love does not generally equate to knowing what to do with money, let alone the money their children earn. 

My freelance cheques are usually mailed to my address. For awhile, that address was my parents. When I moved out, I didn't immediately change it to my new place however.  Which meant that the mail would fall into the care of my parents, particularly my mother. And while she may not be the brightest light on the Christmas tree, she certainly knew exactly what I had waiting for me in those envelopes from my freelance employer.

Now my mother, God bless her and her gentle, loving and caring ways, was terrible with money. Still is actually. Which often led to her not having any money at all which constantly stresses her out. 

So when one of those envelopes dropped, I'd get a phone call to tell me I have mail to pick up at home. But oh, would I oh so mind as a loving and caring daughter to give my dear mother what happens to be the balance of the cheque to help relieve her of her stresses with money because clearly she needs it much more than I do?

It really didn't take me that long to change my address with my employer after that.

I understand the feeling of owing your parents for giving you the best life they could give, or being the impetus behind your own success. But that hardly means that you should put your financial life in their hands, especially if you happen to know or even just suspect that they'll misuse the money you make. They may be your parents, but that doesn't always mean that they have your best interests at heart when using your money, especially when they're running a deficit in their own. 

And plus, money has and does easily ruin relationships. So why would you want to include it in your relationship with your parents to begin with? It's too often and too easily a dynamic that can become utterly toxic. Stick to the love and appreciation; it's better for everyone in the long term.

All this came too late for Jack Johnson and his family however. While Johnson still loves them to the point that he refuses to sue them, their relationship is on the rocks and the trust is basically gone. And while time heals all, it doesn't sound as if the damages will be solved any time soon.