The most important investment you can make as an athlete is finding the right advisory team. That decision should be based on skill, not personality alone.
Read MoreIn this article, we’re discussing what a family office is, how it works, what different types are out there, and what is the ideal solution for your family.
Read MoreMany young athletes don't seek financial advice until later in their careers. Discover how early wealth advice can have a huge impact on your financial future.
Read MoreYou have worked hard for your money, which is why it never feels good when you see how much you lose to taxes. Unfortunately, most players neglect ongoing tax planning, which results in paying more in taxes than they should. For those in the highest tax bracket, they are losing between 40% to 50% of their income to taxes, contingent on their state residency. For those in lower tax brackets, they are losing out on the opportunity to build future tax-free investment growth and income.
Read MoreIn this article, we discuss seven piercing questions you can ask wealth managers to separate the qualified from the unqualified.
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Professional athlete residency is one of the hottest topics discussed among professional athletes. It is also one of the most misunderstood. A change in residency, when done correctly and for the right reasons, may result in significantly lower taxes. However, if done incorrectly, it can be a financial disaster. Therefore, you would be wise to only take advice from a Certified Financial Planner (CFP) and Certified Public Accountant (CPA) who have the experience of helping athletes establish residency.
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The problem you face as a professional athlete is not the lack of people willing to extend a helping hand but the number of unqualified advisors soliciting your business. Thanks to the widespread flow of information on the internet it seems that everyone is now a financial guru. The biggest risk that you face is listening to bad financial advice from unqualified people.
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