Professional athletes require unique financial planning due to the amount of compensation and timing of the earning career. Athletes, with their families, should create a financial plan that spans the playing career, transition to post-play career and long-term life goals.
Information for educational purposes only.
“There’s another side of pain. It’s called effort. It’s called glory. It’s called if you can find a way to push through pain there’s something greater on the other side of it. And if you never tap into it, it’s because the first time you felt it you backed off.”
“Embrace it, change it, improve it, make your mark upon it.” Steve Jobs | Silicon Valley Historical Association
1. Have a great support team.
2. Have a malleable business plan.
3. Focus on KPIs (Key Performance Indicators).
4. Have fun with your BHAG (Big Harry Audacious Goal).
“You have to forget about everything else. Like I said, have that animalistic sort of approach…”
Positive thinking? ❌
Total numbness? ✅
— Red Bull UK (@RedBullUK) August 3, 2018
The Great Depression: Causes & Responses
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”
“You have to be kind of a ruthless person, in some form. A relentless, ruthless person. That cannot be taught. That is you can slap me, night after night after night, I’m going to keep coming back. And then…”
After reading Jim Collin’s books, read Mr. Horowitz’s book, The Hard Thing About Hard Things.
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)
Mr. Gladwell’s book, Outliers, is a must read and available on Audible.com.
?Some thoughts from the great @LSandersTri on putting the hurt on the other riders out on the Queen K
— Bob Babbitt (@Bob_Babbitt) February 13, 2018
#ThursdayThoughts from Olympic gold medalist @AliBrownleetri on the London Olympics and getting to the start line prepared to do your best.
Listen to the full interview with Alistair:
Stitcher: https://t.co/A88jKWOtPp pic.twitter.com/QjNCObg8Iw
— Bob Babbitt (@Bob_Babbitt) February 23, 2018