Athletes and entertainers have unusual financial situations. While most people earn their salary over a career that spans 30 or 40 years, the timeline for athletes is much more compact – a pro career only averages three to seven years. Entertainers can also have highly variable incomes. Their annual earnings can be subject to outside influences such as changing cultural tastes, TV ratings and movie box office results.
Receiving a sudden influx of wealth at a relatively young age can be a temptation to spend recklessly without regard for the future. Special care must be given to help ensure that your earnings are well invested during lucrative times so that assets will be available later in life when needed.
We can sit down together and map out a plan designed to provide income throughout your life and pursue goals such as preparing for your post-career life and providing for your family down the road.
In addition to financial planning, we can help you with other essential matters such as budgeting and cash flow management, bill paying, tax planning, risk analysis and management, and even buying a second home or financially helping your family members. We can also help evaluate business opportunities presented to you and manage income from endorsements or promotional appearances.