t's rather astonishing to consider that roughly 60 percent of NBA players go completely broke within 5 years of retirement, according to the NBA Players Association. Professional basketball players are the highest paid athletes in the world with an average salary for the 2007-2008 year at $5.356 million. This figure doesn't include the very lucrative endorsement deals, bonuses, or other financial perks that come from being a NBA player.

For comparison, the average NFL player makes a paltry $770,000 per year. Of course, that doesn't include bonuses or endorsements either. This gives a little perspective when considering that there's more than a $4 million difference in average salaries between the two sports.

To add a little more perspective, let's look at the NBA development league player's paycheck. The developmental league prepares potential hopefuls for the NBA. Players in the NBA's top minor league make a salary ranging from $12,000-24,000 per year. They don't get the endorsements either. Developmental league players do get $30 per day for expenses, compared to the $100 a day allowance of NBA players.

According the U.S. Census, the median income for a 4-person household in the US is $65,093.

Let's take this a step further and look at the top five highest paid players in the NBA for the 2007-2008 season. Kevin Garnet tops the chart at $22,000,000. Yes, you're reading the zeros correctly. Micheal Finley makes $21,696,750, Stephon Marbry's salary sits at $20,109,375, Allen Iverson makes $20,109,375, and Shaquille O'Neil rounds out the top five with a nice, even $20,000,000. Kobe Bryant, a legitimate NBA MVP candidate, brings in $19,490,635.

Wow!

Now that we've looked at the top pay checks, let's look at the bottom salaries. Incoming rookie base salary is listed at $428,163 per year. That number makes a substantial jump (in the average person's opinion) up to $442,114 per year. Remember, these guys get a daily allowance of $100 for meals and expenses during the season. How many of us wish we'd get a $14,000 raise each year? Pretty sweet deal.

So why are the salaries so high? One could speculate that unlike the NFL, the NBA requires fewer players per team so the owners can pay players more money. Another reason could be simply that owners choose to spend big money to have a better chance at a title. Owners see major increases in revenue when NBA teams are winning. Whatever the reason, NBA players pull down incredible salaries.

I suggest any and all folks with an aptitude for basketball get busy practicing the fundamentals post haste. Remember that your career will probably be short and you need to make sure you aren't one of the 60 percent going bankrupt 5 years after retirement. If you just become an average player, you can possibly draw an "average" salary of $5.356 million per year.