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Read this, college athletes: What to do with your new NIL money

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.

3 ways to get retirement ready in your 20s

As a 20-year-old, saving for retirement can easily fall to the bottom of the priorities list.

College graduates must focus on repaying their loans and paying rent wherever they may have moved for a career, although several would rather backpack and see the world before making their next career moves. Add to all of those ambitions potentially accrued debt and it could spell a recipe for disaster.

Why it pays to be charitable

With the closing of the 2014 tax deadline a few weeks ago, we will soon find out if there was an increase in charitable deeds by investors. Aside from pure generosity, the forces likely driving gift-giving the past year boil down to two key components — an increase in stock market gains and higher income taxes.

401(k) Mistakes That Can Cost You

NEW YORK (MainStreet) — Missing out on an employer 401(k) opportunity is the most obvious retirement savings mistake a worker could make. 401(k)s are an employee-sponsored savings vehicle. Contributions are made directly from someone’s paycheck and, depending on the account type, are either taxed immediately or tax deferred.

Avoiding the 60-Day IRA Rollover Rule

NEW YORK (TheStreet) — An employer-sponsored plan allows an employee to contribute pretax dollars into an investment account for retirement savings. These plans offer several tax benefits, including tax-deferred contributions until withdrawn, and employers are allowed to deduct those allowable contributions for each participant.

Seven steps to achieving your 2015 financial goals

We’re now more than 100 days into 2015 and many people have already turned their New Year’s resolutions into a reality. Others, however, are falling behind on their financial goals.

Perhaps you intended to save more, spend less or learn more about investing in general, but you’re not seeing much progress. If so, it’s a good time to hit the reset button and reassess your goals. Here are a few pro tips on how to achieve your financial resolutions for 2015.

What All Pro Athletes Should Learn from Gilbert Arenas’ $2.1 Million Mistake

The Orlando Sentinel reported on Wednesday that John A. White, Gilbert Arenas’ personal assistant from 2006–2012, was found guilty of 11 counts of wire fraud and four of filing a false tax-related document. White stole $2.1 million from the former Orlando Magic star and faces a maximum sentence of 20 years in a federal prison for each wire fraud count and up to three years for each false document charge, a grand total of 232 years. Originally indicted on April 9th, 2015, his sentencing hearing is scheduled for November 9th.