(S31) PT 3 - Investments

[Alcott]

Long term wealth and financial security are two of the most important things to consider when entering a career with such a low average career length and drastic turn over in employees such as professional sports, especially one so violent as football. While the love of the game is enough to keep a player going, often times it's the desperation for another pay day that extends the career of a player way past their prime, which is certainly not one of Cole Maxwell's goals. He would much rather retire on a nice nest egg that allows him to walk away from the game on his own terms, which is why he has always been heavily involved in the stock market and investing in an IRA. Fortunately Cole was able to capitalize on the GameStop stock spike, investing heavily with $520,000 when GME was still only $65 per share (giving him 8000 shares in the company) and able to cash out large when the stock hit $325 per share, multiplying his investment five times over for a cash out of $2,600,000 before the capital gains taxes reduced it by about half. With the roughly $1.3 million he now had from the investment, Cole purchased five houses in the DFW area (his hometown) and hired a rental management firm to oversee the properties for passive income for the rest of his life. With his strategy of combining retirement accounts, stock and bond purchases, rental income, and property management, Cole is set to be able to live comfortably regardless of how long his career in the ISFL extends.