Athlete CEO

In times of uncertainty, it's human nature to try and control things - specifically within investing. Some of the most frequently asked questions we've received from our clients are: "Should I be reacting right now to try and stop the bleeding?" or "What are ways to utilize this market downturn to turn a seemingly bad financial situation into a good one?" We've also consistently been asked "Is this downturn different then all previous ones?"

Ben Carlson compiles some important stats in his recent blog post noting that while the U.S. stock market is currently down roughly 32% from all-time highs, that the market falling even up to 40-50% from previous all-time highs has been a fairly common pattern all the way back to the 1920s.

So what should you be doing during this downturn? And what should you be expecting your wealth advisor to be doing during this time? Are there any mitigating steps your advisor should be taking right now that will help to keep your portfolio diverse and set you up for the best possible outcome in the future?

Brandon and Erik discuss these questions and more in this week's episode.

Welcome back to another edition of AWM Insights. With all the recent public market volatility, we've been highlighting the importance of our long-term investment strategy. Since 1928, there have been 24 bear markets. A unique trait they have all shared is that every one in U.S. history has then led to new all-time highs. However, while it's important to stay patient and stick to the plan - we also don't want to just "do nothing" during this time.  In this week's episode, Erik and Brandon begin their discussions on smart financial strategies that we utilize during these market downturns to add tremendous value to portfolios. First, we breakdown the value of Rebalancing and cover items such as:

• What is rebalancing
• Why is it so valuable?
• When should you rebalance?
• What are the potential pitfalls?

Welcome to our new bonus series: AWM Insights! In these mini episodes, we will hear from the AWM team on different topics and resources relevant to our community in 5-7 minute episodes. 

For our first episode, there is an easy segue with the news of the Covid-19 virus and its impact on global markets. This has been a concern from a human level and a health level - however, our strategy remains the same as it relates to navigating the fluctuating markets. Listen in for more from two of our founders, Erik and Brandon.

On this week’s episode of the MLB Draft Podcast by AWM Capital, we’re joined by Tyler Beede – pitcher for the San Francisco Giants. Tyler had the unique opportunity of being a 1st round draft pick two separate times. He turned down the first opportunity to pursue college at Vanderbilt and further hone his skills. He discusses playing at the collegiate level, on TEAM USA, and continuing on again to the MLB draft as a first round pick.

Throughout the episode, Tyler walks us through his career from high school to the major leagues and covers topics like:

• What it was like on draft night
• Advice from a major league perspective on what he relies on his agent for, how to be a good client to your agent, and some pitfalls to be aware of
• How to build a team who can help handle the business of professional baseball so you can focus on improving your game
• Navigating the draft process with his parents
• Discussing what he would have done differently during his college baseball career and the importance of enjoying where you’re at
• Reflecting on what it takes to be successful in the major leagues.

More from the MLB Draft Podcast:

• Episode 1: The Draft Opportunity
• Episode 2: What's My Number?
• Episode 3: Selecting the Right Sports Agent
• Episode 4: Selecting the Right Financial Team
• Episode 6: Eric Chenowith on Do I Need Disability Insurance?
• Episode 7: How is Your Signing Bonus Taxed?

Last time, we discussed how to find a sports agent who has the expertise and experience for your situation that can advocate for you in contract negotiations and representation. 

This week, we continue the conversation to help you finish building out a trusted team that can help you navigate the biggest financial decision of your life by finding the right financial team for you.

As an athlete, you would take the time to research and find the best medical professional to help you deal with an injury. You should do the same when it comes to managing your wealth. To do that well, it’s important to understand some basic concepts of the financial advisor world to be able to take responsibility in this decision and own your wealth.

During this episode, we discuss topics and questions such as:

• What are the unique issues a draft family will face from a financial perspective?
• When should you begin searching for your financial team?
• What are the biggest financial mistakes draft families make?
• What is the difference between a financial advisor and a certified financial planner? What is the difference between a broker/dealer and a registered investment advisor?
• How can you ensure that the team you’re hiring has the experience and expertise to handle your wealth?
• What beyond investing should your financial team help to manage?
• What are the key questions you should ask while searching for a team to handle your wealth?

Listen to episode 4 for answers to these questions and more.

More from the MLB Draft Podcast:

• Episode 1: The Draft Opportunity
• Episode 2: What's My Number?
• Episode 3: Selecting the Right Sports Agent
• Episode 5: Tyler Beede on Navigating the Draft and Your Baseball Career
• Episode 6: Eric Chenowith on Do I Need Disability Insurance?
• Episode 7: How is Your Signing Bonus Taxed?

In this episode, we breakdown the incredible opportunity an amateur player has to become a professional baseball player. We detail what's the probability, the career trajectory, and pathway to navigate the MLB Draft process successfully.

It's hard to encapsulate the excitement surrounding the upcoming MLB Draft. Years of hard work, sacrifice, and dedication all point to this one day. Becoming a pro.

It's a rare opportunity to realize a childhood dream, but equally as important, it's an opportunity to change your financial future. With one announcement from the podium, players will move from asking their parents for lunch money to becoming one of America’s wealthiest.

In last year's draft:

• $316 million paid to draftees
• $128 million of that was on the first 34 picks
• 71 players signed for $1 million or more
• Only two players drafted in the top 10 rounds did not sign
• 73% of the first-round draft picks play in the major leagues according to Baseball America

Baseball is a game. Professional baseball is a business.

You are now responsible for thinking about your career from a business standpoint and you're going to be forced to make decisions, whether you make them well or not, they will have a significant impact on your current and your future life.

Episode one is the starting point for making the right decision.

More from the MLB Draft Podcast:

• Episode 2: What's My Number?
• Episode 3: Selecting the Right Sports Agent
• Episode 4: Selecting the Right Financial Team
• Episode 5: Tyler Beede on Navigating the Draft and Your Baseball Career
• Episode 6: Eric Chenowith on Do I Need Disability Insurance?
• Episode 7: How is Your Signing Bonus Taxed?

How confident are you that you chose the right agent?

In a $10 billion industry, it brings a host of characters that want a piece of your business. It can be difficult to know who are the people that have the expertise and the experience to help you.

Too often, the only advice you receive is to do your due diligence. But that assumes you know what questions to ask, which is largely untrue. So what ends up happening is families are trying to do the best they can, but end up asking the wrong questions, and when you ask the wrong questions, you're going to get an answer, it's just the wrong answer.

In this podcast, we provide a framework and the right questions to ask when choosing your sports agent.

• What are the needs a player has?
• Who is qualified to meet those needs?
• What are the three types of employees of an agency that the MLBPA regulates?
• Is an agent worth paying 4-5% commission on your signing bonus?
• Can your agent get your drafted higher?

Download this show's free resource ("Questions to ask a potential sports agent") HERE

More from the MLB Draft Podcast:

• Episode 1: The Draft Opportunity
• Episode 2: What's My Number?
• Episode 4: Selecting the Right Financial Team
• Episode 5: Tyler Beede on Navigating the Draft and Your Baseball Career
• Episode 6: Eric Chenowith on Do I Need Disability Insurance?
• Episode 7: How is Your Signing Bonus Taxed?

Should you sign a professional contract or head to campus?

This is the decision every high school or college player with eligibility will make this upcoming June. This looming decision will have a dramatic impact on the trajectory of your baseball career and life. How prepared and confident are you that you would make the right decision?

Many factors should be considered when deciding to sign a professional contract; however, for the majority of players, it’s a question of money.

The question the industry is asking is, “What’s Your Number?”

The reality is: everyone has a different “number,” and there is a lot of work that should go into it.

This will be the most significant financial decision of your life. How much you sign for, the taxes you pay, and what you do with that money will have enormous consequences.

So how much is enough?

In episode two, we breakdown the process of what it takes to determine your number. We believe if you follow the process we layout, you can have a lot of confidence going into draft day. Regardless of where you end up being selected, you will have a definitive path to make the decision that is right for you.

More from the MLB Draft Podcast:

• Episode 1: The Draft Opportunity
• Episode 3: Selecting the Right Sports Agent
• Episode 4: Selecting the Right Financial Team
• Episode 5: Tyler Beede on Navigating the Draft and Your Baseball Career
• Episode 6: Eric Chenowith on Do I Need Disability Insurance?
• Episode 7: How is Your Signing Bonus Taxed?

Welcome Back to the Athlete CEO Podcast. I want to begin today's show by thanking each and everyone of you. The investment of your attention, feedback and willingness to spread the word means the world to us. 

Today's show will mark the end of our official First Season of the Athlete CEO Podcast. 

Over the past 25 episodes we had the privilege to hear from incredible people whom I personally have learned so much from and hope you have as well. 

We will be taking a break for the holiday season and are busying planning an incredible season 2 of the Athlete CEO Podcast. We have some exciting interviews ahead and will be rolling out new ways to engage with our guests and their content. 

To end this season let me return to the beginning of why we are here. 

We believe you are your greatest asset. 

My question is what are you doing today to increase the value of your greatest asset?

Whether you are a professional athlete wanting to carry your success into the business world or the entrepreneur trying to break through the next ceiling, we are here to help you reach the level of success you want to achieve.

We would love to know what that means for you in 2019 and how you think we could help you move closer to achieve it.

Shoot me an email at [email protected] or connect with us on social.

We will see you in 2019 with Season 2 of the Athlete CEO Podcast!

For more, visit http://athleteceo.com/

Listen on iTunes: http://athleteceo.com/itunes

This week’s guest is a former D1 collegiate athlete, former MLB player of the Detroit Lions, and the owner of Dead Red Conditioning.

After turning down the Cubs and Dodgers years prior, Jeff Larish signed in the 5th round to the Detroit Tigers in 2007.

In 2011, his career came to a grinding halt after suffering an ankle injury on the field. Like most athletes can relate, Jeff saw his future in exclusively in baseball – so the shock of “what to do next” was a life-changing experience.

A couple of things to listen for in this episode: 

• How Jeff went from not being recruited, to playing for a D1 school
• The biggest mistakes Jeff sees athletes making today (and how they can fix it)
• How to know when you’re working with the right physical trainers, coaches, and agents
• The type of people you MUST surround yourself with (if you want to be successful in business, sports, and life)
• The career-changing experience that Jeff experienced as a MLB player

• “Figure out what you want to accomplish, and come up with a plan.” – Jeff Larish
• “If you don’t have a plan, you’ll get taken off course.” – Jeff Larish

Resources:

• • Dead Red Conditioning
  • Follow on Instagram
  • Subscribe on YouTube
  • KST Shoulder Program

Books Mentioned (Amazon links):

• Never Eat Alone
• Whos Got Your Back?

Watch now:

Watch on YouTube

Listen on iTunes

Listen on Spotify

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