Preparing for retirement has changed dramatically throughout the last several decades. Not only are people living longer due to better health care, costs have dramatically increased all around.
The NCAA will no longer prohibit its athletes from making money off their name, image and likeness (NIL), and some are already cashing in. For example, incoming Tennessee State freshman basketball player Hercy Miller signed a deal with web design and coding company Web Apps America for $2 million over four years. It has long been a problem that college athletes — in fact almost all college students — aren’t offered enough personal finance education in school. And now with NIL it’s even more important than ever for college athletes to take control of their personal finances. For those looking to take advantage of this newfound sponsorship money, here are seven steps to focus on.
Learn what you need to know to take control of your finances. From what questions to ask an investment advisor to the difference between some important financial terms, this conversation will have you feeling empowered and ready to take the lead in your finances.