Sports and Entertainment - Windfall Advisors

RECEIVING ASSISTANCE WITH YOUR

Sports & Entertainment

Failing to plan is planning to fail!

A Sports Illustrated article reports that 78% of NFL players and 60% of NBA players face serious financial hardships after retirement. Across the three major American sports (MLB, NBA, NFL), the average career length is about 4.6 years. [1]. Prudent planning for this windfall is critical!

This is a pre-windfall situation, one that you’re aware of the coming event and have the opportunity to prepare for. If you prepare yourself here like you prepare yourself on the field, your success will follow.

Action steps:

#1. Contact a financial windfall expert asap. The sooner the better. You might even have enough time left to design and structure the event that maximizes your gains and minimizes a substantial taxable event. We recognize unique scenarios and are able to recommend a team of consultants such as CPA’s, Tax and Estate Attorney’s to help.

#2. Don’t make any major purchases right away. Consulting with a financial expert asap to get a handle on the tax implications and start discussing a plan.

Reference: [1] Sports Illustrated

Frequently asked questions

How does sudden success in sports or entertainment impact financial planning?

Sudden success in sports or entertainment often brings substantial wealth quickly. Financial planning becomes essential to manage newfound assets, create long-term strategies, and protect against the unique challenges and uncertainties in these industries.

What challenges do individuals in sports and entertainment face with sudden wealth?

Success in sports or entertainment can lead to rapid financial changes, but it also comes with challenges. Managing a hectic schedule, dealing with a high-stress lifestyle, and navigating financial obligations require careful planning. A dedicated financial advisor can help address these challenges.

Why is it crucial for sports and entertainment professionals to have a financial advisor?

Sports and entertainment professionals often operate within a team, but a dedicated financial advisor is crucial for individual financial planning. They can provide personalized guidance, help manage the demands of a high-stress career, and assist in making informed financial decisions.

How can financial planning help sports and entertainment stars avoid common pitfalls?

Financial planning is instrumental in avoiding common pitfalls such as overspending and financial mismanagement. By working with a financial advisor, sports and entertainment professionals can create a robust plan, protect their wealth, and build a sustainable financial future beyond their peak earning years.

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What a unique and heartening experience to have an expert share his knowledge without a preoccupation for making a sale. Daniel is a kind, patient and insightful professional.

I've only been with Daniel for a few months, but so far it has been a relieving and rewarding experience. He is always very communicative which is much appreciated and you don't see that too often from financial advisors. Looking forward to our continued work together in the years to come.

Daniel is a consummate professional with a very personable approach. He is such a great listener, so he can have that personal connection with his clients, which is how to best meet the needs of the client. Daniel responds promptly and works quickly and efficiently. His knowledge of the many different aspects of financial planning for estates, and for clients who want to get their personal finances in order, is impressive. I really appreciate having Daniel on my side because I trust him. Give him a shout!

Daniel and I just started working together. He made what could be a very complicated process extremely streamlined and simple. We were able to set up my account in 15 minutes on the phone together. I am so excited that I now have a true financial advisor, he has made himself available and made me feel comfortable with big financial decisions. I do trust that he will do great things with my portfolio.

I was feeling severely anxious with my finances prior to speaking to Daniel. This kind man took the time to break everything down in simple terms the average person who's just getting started could understand! He can definitely tailor a plan that'll make sense to you and fit your needs. 10/10 would recommend!

I was searching for a financial advisor and I found Daniel. Is not the first time I talked to an expert about my finances but Daniel made it easy to understand. He answered all my questions and gave me very good advice. He listened to all my concerns and gave me his honest recommendations. I'm so happy with our phone consultation. I would recommend 100% Windfall advisors to anyone who's looking for guidance with investing, saving accounts options and a lot more. Very professional and knowledgeable.

RECEIVING ASSISTANCE WITH YOUR

Sports & Entertainment

Failing to plan is planning to fail!

Frequently asked questions

CLIENT REVIEWS

100% FIVE STAR REVIEWS ON GOOGLE

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