Welcome to

“The Show”

Below is a list of items to help you prepare “off the field” for your MLB Debut in 2023. If you have any questions, please do not hesitate to reach out to me for assistance.

MLB Vanguard Account (401k) Enrollment

Understanding contributions and paperwork. Below are links to set up your account and a visual representation of what your selections look like on the actual paperwork. We can walk through these with you so that you know what to fill out for your specific situation.

VanguarD Registration

Form W-4

Withholdings from paycheck. Fill out as “Single/Married Filing Jointly/etc. (fill this in for the specific prospect)” and leave the rest of the form blank.

Form W-4

MLB Health Insurance

You are not married and do not have kids (fill this in for the specific prospect) so this will be straightforward.

New Member enrollment Form

Beneficiary Designation Form

MLB Life Insurance

Know who you will list as your beneficiary on the forms.

New Member Enrollment Form

Beneficiary Designation Form

Travel Dates/Duty Days Analysis

You pay state taxes where you play. Keep track of the travel dates for Spring Training, when and where your MLB assignments and travel dates were, and when you are on an active MLB roster.

Tax Planning Opportunities

After you become an MLB athlete, the best setup we have seen is to be on a plan and have a system in place. The most successful players are having paychecks deposited in the Brokerage/Investment account and then having a monthly budgeted amount sent to the checking account to cover their expenses, while using a credit card for daily purchases.

Credit Card

Daily Spending.

Brokerage/Investment

Deposit paychecks here.

Checking

Pay off credit card, auto pays and other transactions where a credit card cannot be used.