Because Iverson has no concept of money, he spends money lavishly without considering the consequences, so no matter how much money he has, he will squander it. Iverson is a player, so his knowledge of investment and financial management is very weak. He lacks investment and financial planning. He can't manage money himself, and he doesn't find someone to manage money. So as soon as he heard what his friends said about making money, he would invest no matter what kind of investment was reliable.

We all know that the current investment is very risky. If it fails, we may not even get our own capital back. This alone will lead to the loss of a large number of assets and heavy losses. Iverson is afraid of poverty because he grew up in a poor family. When he had great wealth, he began to spend countless money. He satisfied all his fantasies, including luxury cars, luxury houses, jewelry and diamonds. There is also news that he has more than 40 luxury cars alone, which shows that he spends money without restraint. Moreover, he has no stable income after retiring, and he can only support himself by his previous income. His extravagance is one of the reasons for his bankruptcy.

Another most important reason is that he has many friends who played with him since childhood, but their fate is not as good as his and they don't earn as much money as him. Everyone leads a normal life. Iverson, who has always been loyal, saw that they were poor, so he volunteered to pay for each of them.

According to our normal thinking, if a person is willing to pay his own living expenses, he will continue to squander and will not think about whether that person has the money to pay for his own life. Iverson not only helps these people pay their living expenses, but also helps them pay their debts. This is also a bottomless pit, no matter how much money he has, he can't support their lives. For all these reasons, Iverson's bankruptcy is normal.