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Want To Retire Early? Take A Cue From The Pro Baller Playbook

When Joshua LeBlanc got his signing bonus from the Los Angeles Angels in 2004, the first thing he did was drive to the mall. Over the next few hours, he spent so much on new shoes and clothes that, for the first time, he hit his bank’s daily debit card limit. “That could have been an [...]

July 28th, 2016|Members in the News section|0 Comments

What Pro Athletes Can Teach Us About Retirement Planning

Financially savvy athletes know how to live below their means and invest in their personal brand. The same goes for average Americans, too. Professional athletes earn huge sums of money at a young age, but their sports careers are often short-lived due to injuries, underperformance or other factors. Many wind up destitute later in life, [...]

June 23rd, 2016|Members in the News section|0 Comments

Rob Gronkowski’s Money Management Should be a Lesson for All Pro Athletes

Rob Gronkowski is known as perhaps the NFL’s biggest party boy, but that hasn’t prevented the New England Patriots star from being smart with his money. Although the All-Pro tight end has been involved in his fair share of controversies—from taking risqué pictures with a porn star to reportedly being offered a role in a porn [...]

June 25th, 2015|Members in the News section|0 Comments

The Jock-Tax Man

States began levying income taxes aimed specifically at professional athletes as early as the nineteen-sixties, but it wasn’t until 1991 that these so-called “jock taxes” began to be enforced with vigor. That year, when the Los Angeles Lakers lost the N.B.A. finals to the Chicago Bulls, California moved to collect tax against the income Michael [...]

May 29th, 2015|Members in the News section|0 Comments

NFL rookie year/life after football ( WBEZ’s Morning Shift )

Round One of the NFL Draft takes places this Thursday at the Auditorium Theatre. We’ve already heard what’s ahead for commuters trying to get around the Loop. But the Draft is really about the players and how a selection will change their future. Along with the chance to play in the big leagues [...]

April 28th, 2015|Members in the News section, Sports News|0 Comments

Malcolm Butler to pay taxes on prize

The truck that Chevrolet presented to New England Patriots quarterback Tom Brady as Super Bowl MVP will be given directly by the company to teammate Malcolm Butler instead. Mark J. Rebilas/USA TODAY SportsMalcolm Butler's Super Bowl-winning interception also netted him the truck Tom Brady won for being named the game's MVP. Chevy spokesman Michael Albano [...]

February 9th, 2015|Members in the News section|0 Comments

Voices: Jonathan Miller, on Advising Professional Athletes

Voices is an occasional column that allows wealth managers to address issues of interest to the advisory community. Jonathan Miller is a CPA and co-founder of the Phoenix, Ariz.-based Sports Financial Advisors Association. Jonathan Miller I work with professional athletes, particularly basketball and football players. Like anyone with a sudden influx of wealth [...]

February 7th, 2015|Members in the News section|0 Comments

Athletes finish out of the money

Professional athletes might seem particularly blessed in the modern sports world, where multiyear, multimillion-dollar contracts can provide them and their families financial security after their generally brief playing careers are over. But based on the disheartening fates of thousands of young athletes, cursed may be the better description. The sad truth is that many, if [...]

August 11th, 2013|Members in the News section|0 Comments

TAKEAWAYS SFAA

Sports Financial Advisors Association (SFAA) The Sports Financial Advisors Association (SFAA), founded in 2005, is a non-profit, professional organization whose members include financial advisors, financial planners, accountants, attorneys and insurance agents. The mission of the SFAA is to provide its members with educational opportunities, a forum for the exchange of best practices and networking opportunities. [...]

March 25th, 2013|Members in the News section|0 Comments

Go Long: Retirement Plans for Pro Athletes

Workplace Retirement Plans for Pro Athletes You might not think pro athletes earning millions would have to worry about the risk of outliving their retirement savings. But when you consider their retirement could conceivably stretch 50 years or more, that risk isn't so far-fetched. Even with the most popular major sports leagues offering such benefits [...]

September 25th, 2012|Members in the News section|0 Comments

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