Athlete Focused

 

Overview

Amid enormous salaries, considerable bonuses, and lucrative endorsement deals, it’s difficult to comprehend how professional athletes continuously find themselves in financial distress. Yet, due to a unique set of economic challenges, this has become a common theme in today’s sports world.

These challenges stem from a shortened timeframe of major earnings, along with the dangerous combination of youth, impractical expectations, poor guidance, and the risk of being victimized by individuals looking to take advantage. Pro athletes need to surround themselves with people they can trust, who will educate them, and keep their financial game plan on track with unbiased and realistic goals.

In order to meet financial objectives, one should focus on their security for life after professional sports. Unfortunately, many have little to no experience handling sizeable sums of money and, due to their lack of knowledge concerning wealth management and budgeting, make poor financial decisions.

You wouldn’t go into a game without a plan, and you shouldn’t expect a lifetime of economic stability without one either. It’s never too early, or too late, to prepare for your financial future. The Malibu Capital Management team can assist in developing a game plan that strives to provide our clients with long-term financial security.

 

“By the time they have been retired for 2 years, 78% of former NFL players have gone bankrupt or are under financial stress.” *

“Within 5 years of retirement, an estimated 60% of former NBA players are broke.” *

“Over 70% of athletes report that they do not have a asset protection plan primarily because no one showed them how to approach the process.” **

“Only 1 out of every 3 professional athletes is focused on the business side of their careers.” **

“Nearly 70% of athletes enjoy a luxurious lifestyle, though less than 27% of all athletes and fewer than 15% of younger athletes are concerned about financing their lifestyles.” **

 

How MCM Can Help

As a professional athlete, your financial future deserves the same dedicated attention and direction as your career. Every pro athlete possesses exceptional talent and qualities, such as dedication, focus, discipline, and strategic vision.

While these characteristics provide a competitive edge, everyone needs coaching to assist them in maximizing their abilities. The role of a coach is to convey knowledge, to motivate, and to guide. As significant as your coach is to your life on the field, a trusted financial advisor is just as critical to your life off of the field. 

The Malibu Capital Management team has developed a thorough understanding of the particular financial challenges faced by professional athletes. It requires specialized skill and discipline to build a financial strategy given an athlete’s unique situation.

Our expertise in developing a sound financial plan can help protect your lifestyle, from rookie to retirement, and everywhere in between.

 

 

 

 

* “How (and Why) Athletes Go Broke” – 2009 Torre

 ** “Changing the Game Plan” – 2009 Rothstein Kass