Professional athletes earn a great deal of money. While some are prepared for the responsibility of managing that type of wealth, others could use support from professionals. That’s where financial advisors for athletes make such a difference. Here are some of the ways that this type of advisor can aid in managing and even growing wealth.
One of the basics that these advisors provide is help in establishing basic financial accounts. This includes checking, savings, and a series of instruments designed to produce modest amounts of returns. These provide a foundation for all future work to protect and grow financial assets.
The advisors can provide some support in researching and selecting investment opportunities. With this type of help, it’s easier for the athlete to identify investments that carry an acceptable amount of risk while offering a reasonable amount of returns.
Finally, it’s not unusual for these types of financial professionals to help set up ways to set aside funds for the retirement years. Life in professional sports doesn’t last forever, and knowing there’s money to fund a business venture or live comfortably while building a second career is comforting. It’s also nice to know that the later decades of life include the means to travel and enjoy life after working so hard.
These are only some of the ways that financial advisors for athletes help their clients. Talk with an advisor today and arrange for a consultation. You could be on the way to ensuring that your future includes all the resources needed to live a good life.
For more information, please contact TSG Wealth Management at