I read an article some years back about Michael Spinks dividing his money up and placing them into timed accounts. This way he would never blow all his money. If he did all he would have to do is wait a few years for more.

He also invested in some business and real estate. Nothing major but well enough to make some money and keep a fairly nice lifestyle.

Marvin Hagler took his money over to Italy where he is a big celeberty and invested in Real estate there as well as does acting in Italian movies