Going for broke to achieve a desired goal has been known to yield significant benefits in your line of work. But taking significant risks can have dire consequences as a retirement strategy. The combination of poor or unscrupulous advice, risky investments and overspending to accommodate elaborate lifestyle needs are among the reasons many top-earning athletes suddenly find themselves in financial straits at a critical time in their lives. And the numbers are staggering:
“By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress” and “60% of former NBA players have gone broke within five years of retirement.”
– Sports Illustrated magazine, May 2009
We provide the discipline, experience and resources required to assist you in effectively managing your wealth over time. And we help you master one of the most important components of wealth preservation: developing a spending strategy aligned with today’s needs and tomorrow’s goals.
We understand the business side of the sports industry, the complexities of managing significant wealth, and the many ways your lifestyle and needs differ from other high-net-worth individuals.
Demanding schedules, frequent and extended travel, multiple “handlers” and lack of privacy can all present significant challenges in managing the financial responsibilities that come with a career as a professional athlete. Our goal is to help ensure that your finances are properly managed as we help lead you toward the future you desire.
We provide you with the advice, sophisticated strategies and ongoing support required to help you make well-informed decisions regarding the wealth you accumulate during your career. You can expect us to have the utmost respect for your needs, your privacy and your legacy.
We work collaboratively with your other professional advisors, including attorneys, accountants and business managers to ensure all strategies and recommendations are appropriately coordinated and aligned with your best interests.
As a client of Graystone Partners, you benefit from our experience, knowledge and tradition of integrity and trust that has helped guide the financial strategies of high-net-worth individuals for more than 20 years. We invite you to learn more about the advantages of working with a team that truly understands and can simplify the complexities associated with your finances and lifestyle. Contact Us today to schedule a confidential consultation.