Much has been in the media how NFL players squander their hefty salaries and go broke when they retire. The few NFL players that hit financial rock bottom do not plan with their incomes on life after retirement. Players should not be shortsighted on the luxuries during their career and forget that there is life after sports. Apart from the few, many young men in NFL are climbing the rank of financial security by making sensible investment decisions and collaborating with sound advisors. They recognize that they must plan with their money for life after football. I have seen some players who have invested wisely.
Why you need to invest as soon as now
NFL is an intricate game that involves lots of physical activity such that after retiring you should engage in lighter activities. When you plan appropriately by the time you retire, you should be financially sound. For this reason, you need to make investments early in your career such that after quitting the beautiful game, you can live on the returns on your investments.
Real estate investments are an option
With the millions of dollars in salaries and bonuses that players get during their career, sooner rather than later, they realize that they cannot buy many cars for luxury purposes and it’s time to invest to secure their future. Football is such a short career that also has many risks, which can forever change your ability to do many activities. Owning a house is one way of putting your money in the right venture.
A wise footballer or superbowl player will not only have a house, but will invest in real estate because of the high returns of investment it has over time. However, to reduce the risk of being swindled out of your money, you need to work with professional real estate agents that can advise you on ways to make it in the industry.
Stocks and other ventures in line with your passions
As a player, you might be having the better imagination of your investment options. Some have tried stocks, and they did well, but you need to remember that investment is a whole new ball game different from playing in the super bowl or football fields.
It requires that you understand the rules of the industry if you are to succeed in whatever you are doing. Good investors explore the different programs and products in the market, then pick the one that suits their interest and has the best value in returns for investment.