Bad investment decisions contribute greatly to the financial problems of professional athletes. Unfortunately, athletes are an easy target for many shady financial predators, who promise them ‘sweet deals’ with huge returns in a short period of time. With so many ‘get rich quick’ schemes out there which try to sell the improbable dream, athletes need to have the knowledge which will help them make educated decisions for themselves, and control their emotional responses to risk and the market. In this lesson we go through the process of getting prepared to invest and we pinpoint what to look for and what the risks are.
We also look into the importance of investment diversification and we go over real estate investing. Towards the end of the lesson, we will present the ‘Being Investment Prepared’ Checklist which will inform athletes whether they are investment ready or not!
Topic: Financial & Life Skills Program
Module: 7
Professional Athletes
LESSON PROGRAM & COMPONENTS
LESSON DETAILS
Athletes and Investment Basics
Basic Investment definitions & concepts
Preparing to invest & choosing an investment advisor
Be careful of investment fraud
The relationship of risk and return on investment
Athlete investors – understand your risk appetite
Different types of investments
Your income and investment choices
Athlete investor – good and bad investments
