Investing for Superstar Athletes and Entertainers
Money doesn’t change you. It changes the people around you. I’ve heard this from many clients who have experienced the downside of acquiring wealth either from being extraordinarily gifted in sports or entertainment and in some instances both.
It is not unusual for a superstar in the NFL, NBA and MLB to find themselves carrying an entire village comprising of family, childhood friends and others who are compelled to want a piece of the success. This is more of the norm than the exception.
Unfortunately, this heavy financial responsibility over time often leads to bankruptcy and the superstar having whittled away their fortune. So how does one keep from becoming a statistic? The vast majority of athletes/entertainers after retirement or a down turn in their popularity become financially bankrupt within five years.
The strategy is very simple, Quantum International Trading, LLC (QIT) through its subsidiary Quantum Capital MVP Fund, LP (QC) helps athletes develop long term strategies around financial goals, family goals, business goals and last but not least dream goals after retirement. The purpose is to allow an athlete or entertainer to live debt free with income generating options that are viable and sustainable.
Very few superstars begin their careers with the end in mind. They, in their defense have to be present in order to achieve their goals. They do not have the flexibility to spend the time understanding these issues. Often, they are from backgrounds that don’t expose them to financial planning/budgeting or access to financial strategies.
Our main objective is to give the client the tools and knowledge base to achieve their goals by working on several strategies at the same time.
- Know how you earn your income-contracts, endorsements, social media, investments, partnerships, etc.…
- Set up a budget – How much of your contract income should provide for your lifestyle? Keep within that parameter. Itemize your expenses for everything
- Remove unnecessary expenses from your income stream- limit how much you are willing to give to the village.
- Retire with income generation that will last at least one more generation.
Your greatest ability to achieve your goals is to start first with the most important asset you have which is you. Understanding yourself, your goals and your dreams will ensure you are heading in the right direction.
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