As a professional athlete, whether you are just
starting out your career or whether you are a seasoned veteran, you
face certain challenges. When your team is winning and you are
performing well, the crowd will cheer. When the team is losing, you
make a bad play, or you are in a slump, they can turn in a heartbeat.
The casual fan does not understand all the preparation and hard work
that you put into the game. They only see the performance on the
field, the court or the diamond. I'm only 5'6" and weigh 130 pounds,
so I certainly have not strapped it on and don't pretend to know
everything you're going through. However, I do know that sports is a
business, and if you are going to have a life after your sports
career you are going to have to treat it that way.
The second challenge is that while you make a lot of money, some of
you a whole lot of money, you only make it over a short period of
time. If you do not take care of that money you may wind up flat
broke, or worse. I respect those retirees who work at Wal-Mart part-time because they want to, but I feel sorry for those who work there
because they have to. There should be no reason for you to wind up
in that condition, yet many former athletes are finding themselves in
deep trouble financially. Many of you have been taken for a ride by
unscrupulous or incompetent advisors, which is why you need someone
like myself. My job is to help you make smarter decisions about
your money and to protect your assets.
Many professional athletes who wind up in poverty can not blame an
advisor or a friend that gave them a bum tip on a hot stock idea. They can really only blame themselves, because they got caught up in
"keeping up with the Joneses" concept. They are constantly buying
new toys and the latest gadget, not because they need them, but
simply because they have to have them because their teammate or
member of their entourage has them. I can come up with the greatest
plan in the universe and we can implement it with perfection, but if
you spend more than you make or invest, it is worthless.
The third challenge is finding someone they can trust to help them with
their finances. My mission statement for my professional athlete
clients is that they will have a life after they hang up the cleats
because at the end of the day, they will have their assets
protected. Those are not just words on paper, it is my deepest
goal. Let's sit down together. I don't expect you to take my word
for it but, as hackneyed and corny as the phrase sounds, I really do
want to earn your business. I did not choose to work with
athletes because I wanted to be able to rub shoulders with the rich
and famous, be able to name drop or because I wanted free tickets to
the game (okay, maybe the ticket thing is not such a bad idea.)
The fourth challenge that many athletes face is excessive taxes
that they pay. I can help you with every aspect of financial
planning, but my area of specialization is tax-advantaged investing.
I believe we are obligated to pay every cent that we owe in taxes,
it is our civic duty (and if you believe the Bible, it is our God
given responsibility). Nonetheless we should not pay any more than
our fair share and I can show you how to significantly reduce the
taxes that you pay.
Your job is to perform to the best of your ability on the field and
live responsibly off the field. My job is to help develop a
financial plan designed specifically for, and to protect your assets
and make sure your transition from professional athletics is as
smooth as possible.
