Foundation For Financial Excellence: Lessons From The Pros: A Game Plan For The Collegiate Athlete

Regardless if you are an athlete or not, Ryan does a great job laying out the pitfalls and plans of money...more importantly, making sure you have money when you approach retirement.

As Ryan points out, it is true that professional athletes come into money quicker, but he also points out how short their professional playing time actually is, and that nonprofessional athletes can earn about the same amount of time over their career. Therefore, the same principles apply rather you are a pro athlete or not.

Ryan takes you through the 7, easy to follow steps that apply to us all:
1) Build a clean financial reputation
2) Protect your identity and know who you are investing with.
3) Understand your tax map
4) Understand your student loans
5) Mindful spending - Build your own budget plan
6) Protect your earning potential
7) Apply the three-phase saving strategy

Reading, understanding, and implementing the above strategies will definitely help your prepare for your financial future, no matter what tax bracket or career you are in. Because of this, I highly recommend reading this book as soon as you can...as you will learn, the earlier you start, the better you are in the long run!

There is a cynical adage "it is a moral duty to separate a sucker from his money'. Ryan Schachtner points out that in fact we are all suckers unless we get educated and qualified advisers -on financial matters but indeed all matters.
Full disclosure; I know Ryan's parents but I have never met nor spoken with Ryan.
As a person with little or no interest in college or professional sports this book was a revelation to me. Mr. Schachtner gives us the statistical chances of success at the pro level even if one was an outstanding college athlete.- they are VERY low! The vast amounts of money that pour into the hands of young ,naive, trustingly innocent but very talented 'students' and the number of good friends and advisors they soon acquire are enough to shake the aplomb and poise of those who are confident 'they know it all"!
Chapter 4 details the breakdown of over $600 million losses due to fraud suffered by athletes between 2004 and 2018 .The large amounts of money coupled with their naivety make them easy targets for 'Moralists"! And, he warns them of the IRS man hidden in the bushes as wells the insecurity of their own talents.
Schachtner lays out his topics in a manner no doubt very familiar to athletes in that he likens them to the stages in preparing for fitness and play in a match.
If I were a parent or coach to a potential pro I would recommend studying this text as much or even more than those of the sport itself.

This book is a great read for anyone interested in financial literacy. I would recommend every high-school and college athlete to buy and read this book as the information in this book is extremely important for financial success.