Focused guidance for ATHLETES AND ENTERTAINERS
Athletes and entertainers have unusual financial situations. While most people earn their salary over a career that spans 30 or 40 years, the timeline for athletes is much more compact – a pro career only averages three to seven years. Entertainers can also have highly variable incomes. Their annual earnings can be subject to outside influences such as changing cultural tastes, TV ratings and movie box office results.
Managing cash flow and having a substantial reserve fund to cover expenses become crucial. Special attention must be given to help ensure that your earnings are well invested during lucrative times and assets are available when needed.
When transitioning to a new career outside of sports, athletes or entertainers accustomed to earning high salaries and signing bonuses may suddenly face the reality of an entry-level position and salary.
We understand these challenges and have specific strategies for addressing them. We can sit down together and map out a plan designed to provide income throughout your life and pursue goals such as preparing for retirement and providing for your family.
In addition to financial planning, we can help you with other essential matters such as budgeting and cash flow management, bill paying, tax planning, risk analysis and management, and even buying a second home or financially helping your family members. We can also help evaluate business opportunities presented to you and manage income from endorsements or promotional appearances.
We offer strategies for preserving and managing wealth designed to help you focus on what matters most.
Raymond James does not provide tax or accounting services.
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Raymond James financial advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact our office for information and availability.
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