This might be the first time a comma is a regular occurrence in their bank account. That money burns a proverbial hole in their pockets. Education can help prevent major spending sprees: the benefit of compound interest far outweighs the joy of a flashy set of wheels or a giant house that sits largely empty.
Lasting Positive Impact
There is so much to be gained by an athlete – in high school, college, in the pros – by gaining a financial education through self-study or with a credible professional. The opportunities held by enterprise executives and player development leaders to create an incredible brand is enormous, not only during season, but as the team that develops financial thought leaders and charitable givers who lead by example.
I want to see more 35+-year-old retired professional athletes who are financially stable, making sizeable charity contributions, and teaching their community how to be fiscally responsible. That’s how we will make local communities economically viable and build positive financial habits for future generations.
To discuss getting your athletes financially well-versed or flexible, post-athletic career opportunities, reach out to me. We can do so much good together.
Believing a second career is lightyears away and not using downtime to gain additional education, professional credentials, or find opportunities for passive income, also presents a large stumbling block. Converting the same dedication to their sport into commitment toward a future professional endeavor can be a challenge, but has significant benefit long-term.