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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)

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

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)