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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.

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Two sides of pain.

“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.”

Minute 6:44

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)