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Professional Athlete’s
Blog

Professional athletes have unique financial planning needs due to the amount and timing of their earning careers. Athletes with their families should create a financial plan spanning their playing career, transition post playing career and their long term life goals.

Information for educational purposes only.

The Great Depression in the United States (1929 – 1941)

Aug 4, 2018

The Great Depression: Causes & Responses

Causes:
1) Overspeculation of Stocks
2) Wage Stagnation
3) Gold Standard
4) Banking Practices

President Hoover’s Responses
1) Increased Tariffs (Smoot-Hawley)
2) “Liquidate Everything”

Outcome: WWII

5 stages of an enterprise in decline: Jim Collins

Jul 29, 2018

Stage 1: Hubris born of success
Stage 2: Undisciplined pursuit of more
Stage 3: Denial of risk and peril
Stage 4: Grasping for salvation
Stage 5: Capitulation

Mr. Collins’ books
1) Built to Last (1994)
2) Good to Great (2001)
3) How the Mighty Fall (2009)
4) Great by Choice (2011)

“But you just have to accept that things might go wrong. But when they do go wrong, make sure you’ve got a plan of action. Make sure that your men or your women know exactly what to fall back on. The foundations, the structure, the planning. And then you can reorganize, and re-attack.” Ant Middleton

Jul 26, 2018

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