Never Go Broke: Investment Guide for Professional Athletes
If you are reading Never Go Broke: Investment Guide, it means you are within reach of ample wealth, which you will earn in a surprisingly short period of time. Some of you may already have achieved this.
The word “earn” is important, for you have put in years of hard work and fierce devotion to build yourself into a proud member of one of the most admired professions in America.
You are a professional athlete. One of the few people lucky enough to get paid fat sums for doing something you love to do.
Great riches can reward your achievement—and, with that, great opportunities will arise.
Earning it is only the start. Now you must preserve and protect it. You also must learn how to invest it and make it grow.
Do it right, and you can build a fortune that will last you and your family for a lifetime and beyond. Do it in the wrong way and you could end up in financial trouble.
Roughly 80% of the players in the National Football League end up in financial stress only five years after they retire. For players in other sports, often over half of people come under financial stress.
You can do far better than that, and this guide will help you. It will show you how to reduce risks, take money off the table and lock it away, and invest it safely to get the highest payback without having to make wild bets.
That is our No. 1 priority at Chapwood Investments. I founded the firm in 2005 in Plano, Texas, near the home of the Dallas Cowboys, after almost 20 years of serving clients at Morgan Stanley & Co.
I have spent the past ten years highlighting the problem of athletes going broke. Sports Illustrated featured me in a cover story on the issue in 2009, as did ESPN in 2012 for a “30 for 30” documentary called “Broke.”
At Chapwood, we focus on the fixes. We have helped more than seventy-five professional athletes secure and grow their fortunes. I have trained a hundred more in financial boot camps.
We can help you, too, in keeping your money safe and growing it to last for the next generation. The lessons you learn here can help you live a better life.
About the Author
Ed Butowsky is the founder and managing partner of Chapwood Investments in Plano, Texas, advising professional athletes, CEOs, entrepreneurs, and other investors in how to build and preserve their wealth. He spent eighteen years at Morgan Stanley & Co. before founding his own firm. He is a frequent markets guest on Fox News Channel, Fox Business Network, CNBC, and Bloomberg TV, and is known for his blunt and contrarian views.
Dennis Kneale is a writer and media strategist in New York. He started his career at The Wall Street Journal, served as managing editor of Forbes magazine, and was an anchor at CNBC and Fox Business Network. In the Great Meltdown of 2008, he urged viewers to resume buying stocks just one month after the market hit bottom, and in June 2009 he correctly predicted the end of the Great Recession and the recovery that followed.