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+---- Thread: (S31) PT 3 - Investments (/showthread.php?tid=35266)
RE: (S31) PT 3 - Investments - Troen - 10-02-2021
Prompt Wrote:It's a well-known fact that most players are broke within a few short years of leaving the league. As much, many modern players have started investing their money in assets and businesses in an attempt to preserve and expand their nest egg. What is your player doing to maintain their financial freedom?
From what I've seen and heard, the problem that most players have after leaving the league is a spending problem, not an investment one. Too many people get into the mindset of there always being more money available and don't think about how they're going to be out of their contract money. For those who are well known or good actors, sure they can make a good buck doing endorsements or other acting related work, but the vast majority of analysts and color guys make way less than players. And if you go into something less renown, even coaching - all but the top coaches are paid a pittance. So yeah, I think fundamentally players need to understand their spending vs. their earning and have a plan to get those aligned.
Once the income side of things has been figured out, I'd lean towards a safer investment bent. One of the biggest other sources of major financial loss is doing something like investing in a business without understanding the risks. So, I'd personally just go into a broad stock/bond market investment. Something like a 70% stock 30% bond seems fairly safe and performs fairly well in most historical scenarios. That's enough to make sure I'm not going to suddenly lose everything due to another Enron or the like while still having upside. There's probably a lot of tricks I could work with a CPA to do to make it work out better from a tax perspective, but something like that would be my simple starting point.
RE: (S31) PT 3 - Investments - qWest - 10-02-2021
While Tatsu Nakamura is blessed with having the financial stability that having a famous retired baseball player as a father affords, he knew coming into the league that he'd have to be careful from the beginning, starting with the relatively meager paycheck he earned in his first few years as a fourth round ISFL Draft selection if he wanted to grow a greater and more stable financial future. However, Nakamura was still a rather young adult with a lot of voices in his ear. He had several friends that were hyper fixated on internet investment schemes and found himself getting caught up in a number of "shitcoins" that could've really sunk his bank account at the time if it wasn't for hitting a massive windfall out of nowhere on the nostalgia-baiting sheeshcoin. However after seeing the incredible volatility of these markets, Nakamura swore them off, sticking primarily to blue chip, stable investments. His portfolio and capital grew significantly as his play in the league did, seeing bigger and bigger contract money from the ISFL while his endorsement products, including his signature Naka Brand line with Asics, a number of flying car dealerships in the American Southwest, and his own sake an Japanese-style whiskey brand Naké, grew in popularity thanks to his growing brand and dominance on the field.
RE: (S31) PT 3 - Investments - mcgriddleluver - 10-02-2021
While bitcoin and other crypto currencies are currently the hottest investments to make, Norfolk Seawolf defensive tackle Arnie Rufus has decided to invest in used car dealerships near home cities of other prospects. His reasoning while crude is actually kind of solid. He figures while most everyone will get drafted and maybe even crack their pro teams roster, many of them will flame out and have next to nothing to fall back on. What do lots of failed players do in that case? They sell cars and some of them do it quite well. These failed players often assume that they can just stroll into a dealership and bank on their success and fame from their college and minor league days to make sales and more often than not they're right, they're able to outsell their coworkers and most times by a large margin.
Arnie has a backup plan however, he has small investments in real estate companies as well for the same reason as a car dealership. While real estate does take some education to really find your stride and be able to properly make a sale, lots of former athletes are able to make a good career and comfortable living off of trying to sell real estate
RE: (S31) PT 3 - Investments - Birdman - 10-02-2021
Despite it being a well-known fact that LeBong has a room temperature IQ, he’s been shockingly effective at investing his earnings into quick-serve restaurant chains. As a big butt D Tackle, LeBong loves to patronize various establishments that include McDonald’s, KFC, Popeye’s Chicken, and Jersey Mike’s Subs, among others. In typical moronic line of thinking, LeBong decided that he was spending too much money at these local establishments in New Orleans so decided to buy each out the franchisee of each of the local aforementioned chains.
While LeBong is quite dumb, he knows that he is quite dumb and hired a young promising entrepreneur out of LSU to help him in managing these QSR locations. LeBong had a personal connection with this young woman because she also grew up with a troubled family life, has a hunger to succeed, and also a hunger for fast food weighing in at 275 lbs. She has done an incredible job managing the locations and LeBong realized quickly how profitable it was to own these franchises. LeBong allocates a portion of his game check every week to add to the free cash flow of these business and has assigned his young CEO to acquire more franchisees in the New Orleans area.
RE: (S31) PT 3 - Investments - DeadlyPlayer - 10-02-2021
Using PT Pass 2/4
RE: (S31) PT 3 - Investments - huck24 - 10-02-2021
Vincent Jones Jr grew up with a father as a professional athlete. So he has a pretty decent blueprint on how to be successful after his career in the ISFL is over. Being the son of Vinnie Jones, he saw first hand how his old man transitioned from professional soccer player to Hollywood actor. Now, he is quite aware that not everyone can make that change and he isn't completely sure if this is even something he would like to do. But what he does know is that his sports career won't last forever. Vincent does not know exactly what he wants to do when he hangs up the cleats, but one thing he has thought about and even started a little bit of, is bringing football to the country England. Each offseason, Vincent puts on a football camp in his home town of Watford. Kids come from all areas of England to learn the game from their 'local' hero. He wants to continue this and even expand on this when his career is over, which could lead to his post-playing career path. Although, he really would like to follow in his father's footsteps again, he would love to try to show off his acting chops, and has done so in a few commercials already. Who knows, maybe Vincent Jones Jr's name will be something we all see on movie posters in the future, maybe even team up with Vinnie in a Guy Ritchie movie!
RE: (S31) PT 3 - Investments - KingSean - 10-02-2021
It is a fantastic question about my life after my retirement. Indeed, when I am still a professional player, I can earn a sustainable stream of cash to support my consumption. However, after my retirement, the income stream no longer exists, while my consumption habit is still there. The solutions are two-folded: building up a habit of saving money and creating new passive income streams when I am still earning a lot. The relatively easy part is about saving. While we often treat it as unnecessary as consumption drives our economy, saving should be treated as a merit for society. Living a thrift life requires self-discipline, which is also a personal virtue. While difficult, the process of saving money can enable me to learn the cost side of my life, which guides me to differentiate my true needs from my superficial ones. In terms of benefits, I am actively investing in a variety of assets. We all know that the passive income stream is the way to financial independence, and it also provides us financial security (thus more freedom). The common ones include real estate, stocks & bonds, and virtual money, which are accessible by any common citizen. As a star football player, I have other options. For example, I can sell my name or just start some brand with my name as a business. Business can also provide my future financial security.
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RE: (S31) PT 3 - Investments - Amulos - 10-02-2021
It's a well-known fact that most players are broke within a few short years of leaving the league. As much, many modern players have started investing their money in assets and businesses in an attempt to preserve and expand their nest egg. What is your player doing to maintain their financial freedom?
There are a ton of things that I would probably do with the money in order to ensure that me and my family were set up for the future. Firstly, you never know in the pros whether or not this check will be your last, there are many times when someone gets a serious career ending injury and you need to prepare for that to happen. I would do what I do now with my money, saving a significant percentage of my money in a savings account as well as another smaller amount in an emergency fund. Outside of that, one of the big things that always happens when someone lands a bunch of money is that they would go out and splurge as soon as the check is in there hands. Shaquille O'Neal had a video where he talked about getting his first million and buying a car for himself and a car for each of his family members before a bank member approached him to tell him he's going down the wrong path. I would build up a decent amount of money before spending on things that I possibly couldn't afford, buying essentials first before getting to a point where I can afford to get a great house, car, TVs, etc that may not be necessary and could potentially put me in trouble before I even know it. Oh, and I would invest my money in Hot Air Balloons, they are the next big thing in transport.
RE: (S31) PT 3 - Investments - Mavfatha - 10-02-2021
PBE PT
RE: (S31) PT 3 - Investments - TheRocheLimit - 10-02-2021
As the end draws nearer and nearer for veteran Jack Banks the thought of "what next?" has come into my mind on a more regular basis. Thankfully I've already taken a number of steps to ensure that my post-playing days will be spent in comfort as well as giving me an opportunity to make a real difference.
As I've talked about before, I've invested in many small businesses throughout the country. The goal is to ensure that these small "mom and pop" shops are able to stand out in a crowded marketplace. I have taken some of the money I've made from these investments and funneled them into charities and scholarship funds both big and small. I have many other investments as well, but these community based projects are the ones that speak to me the most by far.
It is my sincere hope that by continuing this cycle of investing and re-investing in our communities that I can make life a little better not only for me but for those around me as well. It will keep me busy in my post playing days and, more importantly, I'll be doing work that is so much more meaningful than putting a quarterback on his ass (as fun as that is).