Coming into a considerable amount of wealth as a young professional athlete brings many challenges, including the temptation to spend beyond your means and live an extravagant lifestyle. However, most athletes will play for less than 15 years and retire in their late-20s or early-30s. Those who are injured will have even shorter careers. We provide advanced financial strategies tailored to the unique income situation and long term needs of professional athletes to help your money and lifestyle last beyond your sports career.
According to Sports Illustrated, 70% of NFL players will be broke 2-4 years after retiring and 60% of NBA players after five years.
We’ll evaluate and develop a financial plan to address:
- Budgeting and long term income.
- Endorsement income and strategies to minimize your tax liabilities.
- Charitable donations and foundations.
- Risk management related to injuries and lawsuits.
- Estate planning for you and your family.