Financial PT

Elite Athletes Division

"Talent wins games, but teamwork and intelligence wins championships." – Michael Jordan

When you are at the height of your career it is very easy to overlook your finances. Yet, this is the time when plans should be put in place.

Wealth Collab is dedicated to offering expert financial advice, serving an ever-growing population of active, professional sports professionals and their families.

Professional athletes must also understand that they aren’t living off one year’s salary for just a year, like most people do. That one year of big pay often has to last for up to 5 or 10 years.

Establishing sustainable long-term spending practices and settling into a manageable lifestyle is of the utmost importance.

Success on the field doesn't automatically translate to success off the field.

At last look, an estimated 60 percent of former NBA players go broke within five years of departing the league. And by no means are these financial problems confined to the NBA.

A reported 78 percent of former NFL players have gone bankrupt or under financial stress just two years after retirement.

In Australia, current statistics show that an average length of an NRL player's career spans 43 games, over only three to four years. How that income is managed is key in determining how long it lasts beyond ones playing career.

As the salaries of professional athletes across all sports grow larger, so too, does the number of individuals seeking to prey on their successes and wealth. The reality is, athletes are targets the day they sign those contracts.

For most athletes, there is no easy fix for a significant financial setback. Unlike virtually every other profession out there, an athlete’s career earnings are compressed into just a handful of years.

Time is not on the side of those who are undisciplined, unrealistic or too trusting. Careers are short, and savings must last for the rest of your life. Beating the odds requires a lot of work and discipline.

Professional athletes must also understand that they aren’t living off one year’s salary for just a year, like most people do. That one year of big pay often has to last for up to 5 or 10 years.

Establishing sustainable long-term spending practices and settling into a manageable lifestyle is of the utmost importance.

When you train with a personal trainer, you train harder, with more consistency,

discipline and you're more likely to stay the course.

You inevitably see better results.

Apply these principles to your finances and you will inevitably see better results.