Why Ball Players are Moving to Real Assets to Assist them in Retirement

With the Super Bowl this weekend and the recent viral video of Marshawn Lynch talking to NFL ballplayers about getting their money right, I went to some of my friends in the MLB, NFL and the NBA. 

Ballplayers need to find real investments to take care of themselves after retirement that doesn’t require a risk of capital loss.  Lambos, chains, watches and houses won’t provide for a ballplayer and their families in transition from the game to civilian life.  While Tom Brady and Drew Brees are able to continue to stretch out their career, most ballplayers have a career that lasts less than five years.

Seattle Seahawks running back, Marshawn Lynch, brought this back to light with his recent ESPN interview that went viral, sharing with ballplayer peers to take care of all your bread so when you are ready to walk away you’ll be set.”  If you didn’t see the interview, and you’re a rapper, ballplayer, athlete, artist, actor, producer, writer, comedian… or anything that requires a special talentwatch it right now HERE.

If you have trouble hearing it, this is what he says:  

“I’ve been on the other side of retirement and it’s good when you get over there and you can do what the [expletive] you want to, so I tell y’all right now while y’all in it: Take care of y’all bread, so when y’all done you can go ahead and take care of yourself. So while y’all in it right now, take care of y’all’s bodies, take care of y’all’s chicken, take care of y’all’s mental. Because, look, we ain’t lasting that long.

“I had a couple of players that I played with that they’re no longer here no more — they’re no longer — so you feel me? Take care of y’all mentals, y’all bodies, y’all chicken, so when y’all ready to walk away y’all walk away and you’ll be able to do what y’all want to do.”

What’s Marshawn saying to Athletes?

THIS IS A REMINDER FOR ALL OF US WHO HAVE SPECIAL TALENTS, YOU  HAVE A SHELF LIFE.  NO ONE LASTS FOREVER.
 
It reminds me of when my dad who died at the age of 52, even after doing everything right with his money—no debt, house paid for, paid off car + some cash put away…  my mother was left scrambling the week after his burial because the income had STOPPED and the expenses never do.
Certainty became uncertainty.
I reached out to a bunch of my professional ballplayer friends who have firsthand knowledge to get their input.
  • My friend,  Deion Sanders, Prime Time, who played both in two Super Bowls and a World Series said,  “Real Assets are REAL.  Athletes identify with and pride themselves by the understanding and the notion of REAL. There comes a time in an athlete’s life that he or she looks in the mirror and recognizes he ain’t what he used to be and he can no longer do what he once did. Why should your assets emulate you?. It’s time for the Athletes to truly get in the game of life and THINK!”
  • Atlanta Braves slugger, Matt Joyce, who is coming to play with the Marlins in 2020,  told me in my studio, “Investing in real assets is literally one of the most important decisions players should make before it’s too late.  As soon as they start making decent money they should start creating passive cash flow and the best way to do that is through real estate.”   
  • Retired Skateboarder and real estate investor, Mikey Taylor, texted me, “as an athlete, you never know when your career is going to end and the last thing you want is to run out of money while you’re trying to figure out what’s next. Having cash flow coming in will solve that and I think real estate is the best way to get it.”
  • Hugh Jackson, NFL coach, friend and partner at CardoneCapital.com told me, “we live in a CYA (Cover Your Ass) World”. Real estate appreciates and that asset is never going anywhere.”

 

All of us want to think we are going to live forever and that our careers will take care of our loved ones.  

This reality hits home even more so this week with the tragic loss of Kobe, his daughter and seven others, whose lives were cut short.  I’m still trying to wrap my head around that.  

Rappers, artists, musicians, athletes, and the super talented …..I know you want to believe your talent will last forever, but nothing lasts forever.

Death is not the only transition in life just one of them.  Look at Antonio Brown, one of the most talented receivers to ever play the game.  

AB, had the NFL by the tail, or so he thought,  and for whatever reasons, today it is over, at least for now.  Regardless of how much bravado a ballplayer exhibits on the field or on Instagram, in real life, you can’t fund your lifestyle with chains, watches and big houses.  

Real life requires cash flow in excess of expenses.

Real economics rewards assets and penalizes liabilities and depreciating assets.

And there is a validation of these facts everywhere yet so many still deny the harsh reality believing they can defy the statistics.

Michael Vick, John Daly, Allen Iverson, Mike Tyson, Holyfield, and the list goes on and on.  Michael Vick had career earnings of $100M and Mike Tyson had $400M…and filed for Bankruptcy.

Some reports suggest 78% OF PROFESSIONAL BALLPLAYERS FILE FOR BANKRUPTCY 24 MONTHS AFTER RETIREMENT.

Whether you’re a baseball, football, or basketball player, whether you’re into golf, hockey, surfing, or soccer…there will be a time when the paychecks STOP.  
What will you do for income?  The best way to protect yourself is to either invest in a business that provides cash flow that does NOT depend on your talent or invest in assets that provide cash flow.  Very few assets today provide constant and dependable cash flow the way the real estate we buy at Cardone Capital.
These assets provide my family with constant cash flow, even long after I’ll be able to provide it for them.

 

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