I am a financial planner for professional athletes. I have worked with everyone from: *Top 5 picks *League All Stars *Players earning more than $25,000,000 per year. 7 things I preach so their money lasts long after their player career ends:

"I want to sell my business, and they think I can get $12,000,000 for it." "What would my lifestyle look like if I did that?" The lazy answer to this question is to slap a percentage on it. $12,000,000 after capital gains = ~ $9,600,000. Multiply $9.6M by a safe withdrawal number (3-5%). You get $288,000 - $480,000 a year. Yet you fail to account for... About 30 other factors, things like: *Risk capacity *Taxable buckets *Portfolio return profiles *Future earning capacity *Liquid assets vs. non-liquid assets Said another way, there are tons of dials you can turn that completely change the answer to this question. I know this because we have successfully walked dozens of business owners through this question (and the eventual sale of their business). So if you are a business owner, wondering how to navigate this question...just remember there are ways for you to spend more (and sleep well at night). You just need to understand all the dials you can turn.

Players a lockout is coming, make sure you have a plan for the coming months with your money.

Good framing and something everyone coming into sudden wealth needs to understand. It is the years investing that matters (staying in the game) over the yearly return.

College sports is essentially pro sports with everyone on one year deals.

Ever wonder why your EJ Advisor might recommend a certain fund...

Surround yourself with people in your life who have done the thing you want to do. Whether it is life, money, relationships, faith, or business.

Most business owners create a massive distraction (that takes away from their business) by buying real estate and managing it. Yes you get tax benefits but often the cost is the thing that actually makes you money suffers.

The only thing I am elite at is continuing to show up. This week we got better (and they taught me where to focus on showing up more). Appreciate the team at ACQ for all the energy, wisdom, and effort that goes isn’t a first class event. Onwards 📈

Every entrepreneur I know is running a million miles a minute. Then they have all the people on their financial team they are trying to coordinate (tax, estate, legal, investments). Full stop: that coordination of the team might be the most valuable thing we provide.

The one money question you have to answer as an athlete at the end of your career… Am I good? (Can I keep living the lifestyle I currently am?) And if the answer is no, you need brutal honesty as to what you need to do next.

A 30-year-old MLB player retires with $1,100,000 in his MLB 401(k). Yet one move could turn this into $11,000,000+ tax-free in retirement... - The day you retire from your playing career, the income stops. The good news is your tax rate drops with it. This creates an opportunity to do Roth conversions. Said another way, you can move that MLB 401(k) money into your Roth IRA. The benefit is that the Roth IRA grows tax-free (pay no more in taxes), whereas the MLB 401(k) is growing tax-deferred (pay ordinary income taxes in the future). - So here is how it works: 1. Roll your MLB 401(k) to your IRA 2. Convert (move) that money to your Roth IRA Now, before you do it all at once, you need to understand the real tax move here... - Consider this: You do this for roughly four years. You fill the 22% tax bracket each year. You pay ~ $229,000 in taxes to do this. Yet every dollar you convert (move) is growing tax-free for 30 years. 8% return would put you at ~ $11,000,000 in tax free retirement money at 60. So remember, athletes, your unique income curve (high income to low income) creates tons of great planning opportunities. And while taxes will be your largest lifetime expense, you can and should be looking for ways to reduce them.

"My advisor just manages my investment portfolio." Last week, we found the following tax savings for clients: * $8,000 back from Backdoor Roth IRA reporting * ~$40,000 back in tax credits missed * ~$500,000+ from a business sale

NEW LONG FORM VIDEO: 7 Places Athletes Actually Lose Their Money (It's Not Cars) You stopped yourself from buying that $200,000 sports car, and you think you've made it. But what if I told you, you might still be on a path to be on the next episode of 30 for 30 Broke?