On this episode of Money Never Sleeps we talk about up and coming Athletes / Entertainers and their Financial Future. We started a multi part series on a topic that I think is very important, over the years I’ve seen too many athletes in all fields of sports get thrust into the limelight where money flowed that they never experienced before, they became millionaires over night just doing what they loved to do.
Now there is no problem with that type of success at all, we all love seeing that BUT the issue is that usually these athletes are young and most don’t have that person in their life that can anchor them down to show them how to manage their new found wealth.
What the general public sees is a talented athlete or entertainer making money, living the high life, fancy homes, cars, jewelry etc but those athletes or entertainers that don’t have that direction who jump into the facade game and aren’t thinking about the big picture, those are the ones that could potentially wind up broke once their careers end.
So what we are going to try and do on Money Never Sleeps is highlight some do’s and don’ts for up and coming athletes and entertainers, basically over the course of the series and as it evolves to create some type of general blueprint that may be helpful to someone in this position looking for a path to take in order to avoid the pitfalls that are waiting for them.
We will tackle the structure of their “Financial Future Team”, stock market investments, real estate, franchises, nontradtional investments and much more. We will from time to time bring on a professional who handles such clients just to give additional input on the topic.
I also talk about Twitter and their current situation, the Target CVS working relationship and much more.