iCrowdNewswire Feb 11, 2021 2:32 AM ET
David Osborne Austin works with professional athletes after signing their first contract to ensure that their sudden influx of wealth doesn’t go too much to their heads. In this way, he can protect them from the financial loss that so often impacts many athletes today.
Why So Many New Pro
Athletes Struggle Financially
Over the years, David Osborne Austin has seen many new professional athletes struggle to grasp the extent of their new financial windfall. Many of his clients have come from poor backgrounds and found that their new contracts were almost too huge to imagine. Unfortunately, many of these clients struggled without the help of David Osborne Austin to steer them in the right financial direction.
For example, many athletes react by spending too much money buying luxury cars, expensive homes, and traveling the world. Others end up trying to give back to their community – a noble goal that David Osborne Austin supports – but give too much cash at once. As a result, David Osborne Austin has had to step in and provide assistance to keep their heads on straight and avoid unfortunate spending patterns.
How David Osborne Austin Can Help
In professional sports and financing, David Osborne Austin always emphasizes how tenuous a career can be for some. Just look at famous quarterbacks, like Robert Griffin III, who had a career cut short by injuries beyond their control. David Osborne Austin has found statistics that show that nearly 80 percent of former NFL players are bankrupt two years after their career ends.
However, David Osborne Austin has helped many athletes avoid this problem by expanding their financial investing opportunities. First of all, he gets their tax situation in proper perspective before they start spending too much money. Yes, they’re going to have a lot of cash right away – but David Osborne Austin helps them understand how quickly taxes can evaporate this money.
First of all, he’ll help them understand various write-offs – such as travel expenses when going to games – and other cost factors that keep their taxes lower and less damaging. Then, David Osborne Austin talks to them about various investments they may want to make in the stock market or other areas. Balancing a good portfolio often requires a skilled and subtle approach for many.
First of all, it is essential to find low-risk investment options that stay stable or improve with time. David Osborne Austin can help set up a retirement fund, such as a 401K for many athletes. Some stock market investments are a good choice, but David Osborne Austin tries to limit too many high-risk options. With a professional athlete, their career is already high-risk enough. A few stocks are often sufficient for most, though David Osborne Austin also helps his clients pick the options best for them.