According to a 2009 Sports Illustrated article, 60% of former NBA players and 78% of former NFL players have either gone bankrupt, or are under financial stress within five years of retirement. By simply spending too much of their income, many pro athletes are shocked by harsh economic realities after years of living the high life. Where were their Agents? Why didn't he or she prevent this?
You are young and excited about your first paychecks. You should be. You have worked hard to receive them. According to the NFL Players Association, the average career of an NFL player is 3.3 years. We hope yours will be much longer. However, we expect the best and prepare for the worst in regards to your financial future. Step one is making sure you are prepared for a career after your playing days are over. SMWW is an expert at maximizing your post playing career opportunities. Step two is making sure the paychecks you make in the NFL last a lifetime.
For many of our clients this is the first time that they earn a paycheck. You will begin to see that the more money you make, the more taxes you pay. Our first job is to help you with some financial planning so that your personal taxes are as low as possible. Our second job is to set you up on a savings plan. Our third job is to have you work with a trusted financial planner. Through a strategic alliance, we provide guidance towards selected financial advisors, though you have full candidness to use another advisor at your choosing. Please be aware, these financial advisors are paid separately from SMWW.
We have a step-by-step process to determine each client's unique situation, visions, financial needs, and long term goals. Whether it's setting up life insurance, investing in the future, or purchasing your first automobile, SMWW is committed to providing its clients full support. Professional athletes are vulnerable, and our job is to make sure you don't have to worry about finances. Our goal is that you have money set aside for after your playing days, regardless of how long you play in the NFL.
Here are a few services that we educate and advise our clients
(all of which we guarantee we do not receive a kickback for):
- Financial Planning
- Immediate Savings Plans
- Retirement Plans
- Stocks & Bonds
- Estate Planning
- Mortgage Planning
- Disability Insurance
- Real Estate Investments
- Long Term Care
- Life Insurance
- Business Planning
- Home & Auto Insurance
- Mutual Funds
- Family & Friends Requesting Loans