I remember when I first signed. I thought I was invincible. I was 18 with millions of dollars coming my way and a clear path toward...

You just had one of the best days of your life. You officially signed the big contract. You now have more money than you ever thought possible. More money in a year than most make in a lifetime. What if I told you 78% of professional athletes go broke within a couple years of retiring? I know what you are thinking...that would never happen to me. The reality is, it could be you if you don't plan from the start. In this blog, I am going to walk through the reasons professional

This blog is a guide to financial planning for business owners.

You have the greatest superpower paired with a laundry list of disadvantages. Welcome to investing for professional athletes. Let's start with the good. You have time. The average athlete has their peak earning years in their early to mid 20's. That means you have decades to invest those earnings and let them compound. No seriously consider what that provides you, here is a visual of that power: $2,000,000 invested at an 8% return for decades You know you can't have the good

Investment Management for Business Owners should be unique and tailored.

Professional athletes are constantly the center of attention. TV, social media, podcasts...you name it. With this attention comes a responsibility. Sports give professional athletes the stage to be something bigger than themselves. This impact can go beyond their play on the field. In this article, I am going to break down how professional athletes can start a foundation. What is a Professional Athlete's Foundation? To begin, we need to understand what a foundation is: A fou

The excitement turned to sheer horror when I realized what I was going to be paying in taxes. Let me take you back. I had just signed my first professional contract and my mom sat me down to talk through taxes. You see my mom had an accounting background so she was quick to point out that taxes mattered. She showed me how more than 40% of my signing bonus would be heading to Uncle Sam. As a professional athlete, taxes are your largest lifetime expense. The good news is with p

“You are doing great.” This was the line my financial advisor used to tell me as an 18-year-old kid. I was a kid who had just received millions of dollars overnight, had zero understanding of money, and was craving more. Quite frankly, I was searching for more than “you are doing great”. I wanted the confidence to understand what I could spend or better yet what I should spend. You see even then I knew that money was a tool, all I could think about was running out of it. So,

In 2010, George Steinbrenner the owner of the New York Yankees, avoided paying $500,000,000 in taxes. The best part about this story is...

Picture this, you are on a rocket ship but with limited fuel. It is fun while it lasts but you need to plan now for when the fuel runs out. This is exactly what it looks like for professional athletes. Athlete wealth management is as much art as it is science. It is a combination of understanding the nuances and having deep expertise to help professional athletes manage, protect, and build wealth to last decades. I know this world because I lived this. I was the 9th overall p

Wealth management for business owners is how you will protect your wealth for the long term.

For some of you reading this blog, you have had a loved one pass away. You know that those days are truly some of the darkest. Today we...

Done correctly players can get hundreds of thousands in retirement plan contributions, countless tax savings, and access to lifelong health care. Retirement planning for professional athletes is a mix of understanding specific information and how it connects to your life. I had seen the big contract numbers. I had heard of the opportunities Major League Baseball players had. Yet, one thing I didn’t understand was the MLB benefits plan. What benefits do players get? How are th

One of my greatest accomplishments in life was attending the University of Notre Dame. Thanks to hard work and dedication, I not only earned my undergraduate degree, but also my Master’s of Science in Finance. My time at Notre Dame was life changing and something I am beyond grateful for. As Lou Holtz said, “Those who know Notre Dame, no explanation’s necessary. Those who don’t, no explanation will suffice.” As with anything worth having in life, it comes at a cost. Education

When you are dealing with investment portfolios we are talking about matters of opinions vs matters of fact. Our goal when we construct portfolios is to leave as little up to chance as possible. After all, the fewer variables there are the better we can predict the outcome. So how do you eliminate variables in an investment portfolio? You need to simplify your thinking. We simply investment portfolios into 3 fundamental buckets. The War Chest – The bucket that we have for pe

The standard operating procedure (SOP). If you are a business owner you have craved for these to be part of your business. Here are a...

When you are a business owner you are susceptible to many risks. If you are reading this you know this already, but you may not know if you are protected. This is why having a financial advisor who specializes in business owners is key. Business Owners who work with us think about risk in two ways. The Boat Sinkers Everything Else The goal when building a risk management plan is to start with the boat sinkers. This blog is going to give you a clear game plan to avoid the b

Every investment you make has a tax consequence. Yet, how you navigate your tax bill should be specific to you. The key is aligning your...

Sometimes you are good and sometimes you just get lucky. When it comes to money moves one of the luckiest times in my life was when I first got called up to the big leagues. A baby faced 20 year old with more questions than answers. Some opportune guidance from a clubhouse manager ended up saving me serious money in taxes. "Do you know about the MLB 401(k) plan? You should look at contributing to that." That was my first foray into understanding retirement accounts, the tax i

One of the most dangerous times for a pitcher is with two outs and the bases empty. As a pitcher, you have a laser focus on getting the...