Athlete Wealth Podcast

Before the draft, we often hear agents and families say things like:

• I don’t have any money; why should we be talking to financial advisors;
• I don’t want to put the cart before the horse; or
• We will just wait and interview financial advisors after the draft.

Unfortunately, statements and approaches like these lead to players losing both money and opportunities that are often not recoverable. Mainstream media, some agents, and most financial education in the United States have sent the wrong message that financial advice is just about picking investments.

Let’s look at a few important types of Financial Advice that aren’t picking investments:

• Tax Planning: Taxes are the #1 Destroyer of Wealth; how much will you be paid after taxes; is there a way to structure payments or change contract language to maximize my after-tax draft bonus; are you receiving NIL money now that you need to address?
• Residency Planning: State of Residency can affect your after-tax income significantly; this is an opportunity that is lost if not handled appropriately and contemplated in advance of the draft.
• Financial Planning & Budgeting: Baseball Players are 4x more likely to become bankrupt than the average American; understanding how to avoid becoming part of this statistic by proactively planning from the beginning and not wasting your opportunity.
• Financial Education: The #1 cause of divorce in the United States are financial issues; You need to understand your relationship with money and what it means to you.
• Insurance & Risk Management: Understanding how to protect yourself from liability; do you have the proper auto insurance, umbrella insurance, disability insurance, etc. in place for what your career and life present?
• Estate Planning: Understanding your estate and how to properly manage it; what happens if something were to happen to you; can I protect my privacy by utilizing a trust?
• Real Estate Planning: Purchasing homes, renting out properties both as the owner and the person leasing, and disposing of properties.

This list could go on with numerous other activities that are financial advice that aren’t limited to just buying and selling investments.  As you can see, there is plenty of financial advice where expert help is needed BEFORE the draft to maximize your opportunity and truly understand the decisions you are making.

You are different from 99.95% of people in the United States…don’t you think you should also prepare differently? 

You found an agent because you believed they were the best person in the world to help maximize your draft contract, you work out with the best trainers available, and you would see the best doctors in the world to protect your career.  Why would you do anything differently on the financial side and leave it up to chance?

This is both a business and financial decision, and you need to surround yourself with the most qualified people so that you can maximize your opportunity.

What is the difference between amateur and professional baseball? Money.

Overnight, with your name being called in the MLB Draft and the signing of a contract, you instantly transform into a professional.  Even though this might be your first decision based on money, you have been a part of the industry of baseball for years.  Everyone around you has been making monetary decisions about you for years. A few examples include:

• Perfect Game has estimated revenues in excess of $80 million
• Name, Image, and Likeness (NIL) is creeping into the amateur ranks
• MLB is an almost $12 billion dollar industry and they have been spending tens of thousands of dollars to evaluate you
• Agents are making financial decisions about what you are worth to their business and whether you are a good investment

The industry of baseball has been preparing for you, but have you been preparing for the industry of baseball?

With everyone else placing a value on you and trying to maximize their return on investment, do you know how you can maximize your value to yourself, or even where to start?

Whether you have the skillsets or not and whether you are prepared for it, you are now the CEO of a multimillion-dollar business.  As the CEO, you have the responsibility of whether the business of you will succeed or fail.  That is a lot of pressure, but the earlier you recognize this fact, the better you can prepare yourself to handle this responsibility and maximize your opportunity.

One of the most important jobs CEOs have is surrounding themselves with the right team.  As a professional baseball player, you don’t just need to hire a team, you need to hire the right team. 

Your team should consist of:

• Trainers
• Physical Therapists
• Dieticians
• Pitching/Hitting/Fielding Coaches
• Agents
• A Financial Team
• Mental Health Coaches
• Recovery Specialists

A team like this will put you in the best position to be one of the few players that makes it to arbitration and free agency as well as to avoid the 4 times more likelihood of bankruptcy that MLB players face. 

This harsh reality isn’t meant to scare you.  Rather, it is to help educate and prepare you to seize the opportunity in front of you.  Whether you succeed as the CEO of the business of you is dependent on understanding the opportunity in front of you. 

It’s time for you to get to work! 

Welcome to the MLB Draft Podcast, the proven playbook to help you navigate the Draft Process successfully. 

Our goal is to inform you, support you, and help you achieve the greatest amount of success which we define as:

1. Fulfilling your potential to become the best MLB player and;
2. Maximizing the financial opportunity that is a byproduct of achieving #1

The challenge: Winning is not guaranteed. 

History is littered with "can't miss" players who never made it and volumes of athletes experiencing financial ruin. 

The good news is the results are mainly in your control. If you follow this playbook, you will win.

What's at stake?

Scouts, agents, showcases & NIL. You are now a part of an $11 billion industry. 

Everyone you interact with is making a business decision. So are you. 

The only question is: how confident are you that you are making the right decisions?

Why Listen to Us?

We are former players who have personally walked this path and now guide the best players in the game. This is our business.

• 100+ MLB players represented by 29 different agencies
• MLB clients' earnings of $3,000,000,000+
• 58 1st-Round Draft Picks
• Multiple 1sts Overall Draft Picks

Download your FREE copy of our book: MLB Draft Handbook

Schedule a time to talk

Molly Sewald, the wife of Mariner's closer Paul Sewald, has a unique story to share of their experience in the minor leagues and stewarding their wealth. Molly and I discuss a topic that can be difficult or exciting for others to talk about - choosing a financial advisor.

Molly first shares important context and background on their personal story, which weaves into what feelings they felt when choosing an advisor. Their biggest hurdle was paying another fee to someone else and to quote Molly, "do we really want to pay someone to invest our money?"

Molly shares that after hiring a family office, the value is obvious and far outweighs the cost of the service - and even goes as far as to state that a competent advisor is 'a lifeline' for their family.

Her advice to others who may be experiencing something similar is simple - seek guidance. You never know where you can receive help for your specific situation.

Episode Highlights

• 1:30: Molly shares how she and Paul met in the Arizona Fall League, and how Molly at first thought that Paul was a student at ASU, not a professional baseball player.
• 4:37: Molly discusses her and Paul's time in the minors, and how Paul had to continually prove himself time and time again for every minor league promotion.
• 6:00: In his final year as a minor leaguer, Paul & Molly experienced what may be their biggest emotional setback in that he didn't make the team out of spring training.
• 7:51: A common theme for non-prospects is that they feel like they need to be perfect - Molly shares the weight of that stress of rooting for Paul to be perfect. She even goes as far as to share how her heart would sink if she received a phone call from Paul at the field, fearing that they were going to get optioned.
• 9:45: Molly shares the weight of her stress was recognizing Paul's stress.
• 11:53: Molly shares about when Paul's contract was non-renewed, she was relieved and excited for a new opportunity.
• 14:32: New opportunities bring new options and new confidence - Molly shares the confidence that Paul gained in Seattle, where he became the most important reliever in their bullpen.
• 17:13: Molly shares their personal story of how they handled finances prior to hiring an advisor, which was to save as much money as possible - a plan that every human should have!
• 18:01: When choosing an advisor, Molly shares how their eyes were opened to a lot of planning that is available to them as their wealth grew - tax planning, investments, automation, and even protecting their wealth.
• 18:17: She shares that hiring an advisor was a way for her and Paul to educate themselves, and then ultimately have people on their team who help automate their future.
• 18:48: Knowing what they know now, Paul and Molly recognize that they would not be where they are today without the help of a trusted advisor.
• 20:47: Molly shares that her biggest fear when they were looking to hire an advisor was "do we really want to pay someone to invest our money." She felt like it would just be one more fee that she was not totally psyched about.
• 21:51: Molly admits that after learning about what a family office does and its services, the value created far outweighs the fee.
• 24:00: Simplicity is the goal - and Molly shares how an advisor's job is to simplify their matters and optimize their family's future.
• 25:15: Molly shares that the convenience of having all advice being in a one-stop-shop for taxes, savings, investments, communication with teams payroll, players' agents, etc. further expands on that level of simplicity that they desire.
• 27:00: Money is a tool to be taken of for what's important to you - and Molly shares that its services, and the security of their daughter is what is important to them in regards to money.
• 28:28: Molly's advice to other families is to seek guidance for your situation, and a competent team that works day in and day out for your family.

Stevie Rasmussen, the wife of Ray's pitcher Drew Rasmussen, has a unique story to share of their experiencing true adversity in the big leagues.

Everyone at some capacity knows that there will be hard times for families in the minor leagues. Still, few families are prepared and equipped with the tools to handle the complex circumstances that families will experience.

Drew was drafted in the first round after his junior year - only to have this opportunity taken away due to a failed medical exam. Stevie shares how they have handled and persevered through many a trying time in baseball.

Stevie shares their vulnerable story of how they went from being overnight millionaires to having to return to Oregon State for Drew's senior season - and having to take out student loan debt to fund his senior season.

Stevie's simple yet profound advice to other baseball spouses going through similar circumstances - adversity in the game of baseball is inevitable. How you respond to that adversity and support your family is what truly matters.

EPISODE HIGHLIGHTS

• 2:44 - Stevie discusses how she didn't want to be dating an athlete while at Oregon State, but Drew changed her mind
• 4:18 - Sophomore year of college - Drew received his first Tommy John Surgery. Stevie discusses how Drew felt isolated and not part of the team
• 5:09 - Stevie talks about how prior to the surgery, she saw that her identity was built around Drew and baseball, and the surgery grew their relationship
• 6:12 - After rehab Drew returned to pitch in the College World Series and subsequently get drafted in the first round of the MLB draft
• 6:33 - Drew flew to Tampa Bay to be announced as the Rays first-rounder, only to find out that his elbow was blown out again, and Drew received Tommy John surgery #2.
• 8:45 - Stevie discusses the feelings she experienced during Drew's surgery
• 10:01 - Stevie goes deeper regarding how easy it is to have her identity wrapped up in Drew - even going so far as to introduce herself as "Drew's wife"
• 11:39 - Stevie discusses her feelings of Drew's second surgery - where they went from receiving a $2.1m signing bonus to working landscaping in Corvallis OR being in student loan debt
• 15:55 - Stevie shares the 2 different draft experiences - with the second time being drafted by the Brewers
• 18:40 - Drew's debut was in COVID of 2020 - Stevie, unfortunately, watched the debut in the hotel across the street.
• 21:20 - In 2021, Drew was traded to the Rays, and Stevie shares how this was her roughest part of baseball
• 22:30 - The wives' community is strong - and showed up when Stevie needed them most. Brooke Burnes, wife of Cy Young award winner Corbin Burnes, showed up and helped Stevie pack her entire apartment.
• 27:55 - The Power of the Baseball Wives
• 28:40 - Money does not fix our problems - money is just a tool to be taken care of for what's important.
• 31:50 - Stevie discusses how fortunate they are, and how they optimize their resources for their family, their community, and giving back.
• 35:26 - Stevie discusses the powerful perspective of families navigating the questions of 'can you' afford something vs. 'should you'
• 37:53 - Stevie's advice - adversity is inevitable. Lean on the community and ask for help.

Sarah Garver, the wife of Ranger's catcher Mitch Garver, is passionate about being a wife, mother, and veterinarian. In this episode, Sarah shares why she pursues her career in conjunction with Mitch being a professional baseball player and the benefits her work provides even though she does not technically "need to work."

Given the above, it makes sense why the Garver family phrase is "It's only temporary." Sarah gives a great perspective on why that is their phrase, what it means to them, and how that governs what their family is working towards. Sarah understands that good and bad circumstance are only temporary, and as she states, "you can get through harder times if you understand that it is only temporary."

Sarah's success story is that she has fulfilled her childhood dream of becoming a veterinarian and continued practicing, even after Mitch was traded, after experiencing several cross-country moves and balancing her more challenging job of being a mother. As a veterinarian, Sarah provides her family flexibility, purpose, and application of the knowledge and skillsets she has obtained over many years. Through it all, Sarah affirms that she is a better mother and spouse because of her work.

Sarah's simple yet profound advice to other baseball spouses going through similar circumstances - if you want to pursue a career, do it!

EPISODE HIGHLIGHTS:

• (1:59) Garver Family Story
• (2:10) Beginnings of Mitch & Sarah's relationship in high school
• (3:32) Transition to college - while Mitch was trying to figure out where to play baseball, Sarah began pursuing the education for her career as a Vet.
• (4:12) Sarah discusses Mitch being drafted by the Twins in 2013 and her acceptance to grad school at Oregon State 1 week later.
• (6:40) Sarah and Mitch navigated being a team while having different goals.
• (7:48) Sarah discusses the implications of Mitch being a walk-on in college and ultimately signing after his senior year of college, which included a negative experience with an agent relationship.
• (9:29) How important good advice and representation are as families navigate professional baseball.
• (13:07) Sarah discusses how they navigated their marriage on limited time and money while Sarah was a grad student and Mitch was a minor league player.
• (16:09) How they believed it was important to spend the money to see each other - even when they necessarily did not have the money to do so.
• (16:33) Sarah explains how almost everything in this life is, to quote her, "Only Temporary."
• (18:50) Sarah talks about why she is a Veterinarian and the benefits being a Vet provides to their family
• (19:47) Being clear on what you accomplish matters - even while being the wife of a professional athlete.
• (24:07) Flexibility in her career allows her to continue serving animals, pursuing her passion, balancing work, and being a mother.
• (27:37) Sarah discusses the importance of her career and the positive impacts on her being a mother, being a spouse, and being part of the Garver family.
• (32:56) Sarah's advice to others contemplating pursuing a career - is “just do it and figure it out later.”

EPISODE DESCRIPTION:

Jess Skubal has a unique perspective. She has a deep understanding of what it means to be married to a professional baseball player - her husband, Tarik Skubal, is a pitcher for the Detroit Tigers. She is also familiar with the most significant financial mistakes athlete families make due to her professional background working as a tax CPA for Deloitte, one of the world's top 4 public accounting firms. Jess is passionate about making sure every dollar is maximized, and as we state in the conversation: Investments are a matter of opinion, and taxes are a matter of fact.

Jess gives great insight on both the "WHY" and the "WHAT" related to tax planning and the importance of being able to take advantage of every opportunity available to the athlete.

Jess defines "WHY" as "having more money to do what is important to you.”  Jess shares a personal story about how their own proactive tax planning led her and Tarik to fund their niece's college education.

Jess then also gives excellent advice on the "WHAT" by discussing three specific tax planning strategies that are available to the professional athlete and are unfortunately commonly missed:

• Opening an Individual 401(k) plan for the player's off the field income
• Recalculate your W2 received to ensure the player "pays where he plays."
• Executing a 'Back Door Roth IRA' strategy for the player and wife for $12,000 of tax-free investment growth annually.

To ensure you are taking advantage of every opportunity, Jess' simple yet profound advice to other baseball spouses going through similar circumstances - do not be afraid to ask questions of your advisor, and better yet, find an advisor who will answer and accept your questions.

EPISODE HIGHLIGHTS:

• 2:51 - Jess shares the story of how she in Tarik met in High School in Kingman, AZ
• 4:00 - Jess discusses Tarik's journey to the big leagues - including not being highly sought after or recruited out of high school.
• 4:55 - Jess worked as an accounting clerk while they did long-distance dating in college.
• 6:29 - Jess chose accounting as a major because she saw an opportunity to help people who were important to her.
• 8:01 - Jess began her post-collegiate career as a CPA working for Deloitte, one of the Big 4 and most prestigious accounting firms in the world, while Tarik was a Top 100 prospect in the minor leagues.
• 9:49 - While at Deloitte, Jess worked on many clients, primarily as a tax preparer.
• 11:24 - Jess later in her career worked on closely held and family businesses, but as she quotes, her "pride and joy" client was the tax planning work she performed for a family office.
• 12:53 - While working for her family office client, the 'Patriarch' of the family passed away, which generated an almost $40m estate tax liability. The importance of the family's tax planning surfaced by saving "a generation's worth of wealth.”
• 15:00 - Josh and Jess expand on the importance of general estate planning and the importance of estate tax planning to the athlete.
• 16:31 - One of Jess' overarching beliefs is to "ask the question." Often, advisors are not asked appropriate questions by their clients, which causes critical tax planning strategies to be missed.
• 18:07 - Jess expands on the definition of tax preparation vs. tax planning.
• 18:56 - Proactive thinking and tax planning are how you arrive at the most advantageous tax outcomes.
• 19:35 - Tax planning should happen 365 days out of the year - not just when you file your return in April of the following year.
• 20:46 - Players have two streams of income: W2 income earned as an employee from the team and 1099 income earned from all trading cards and endorsement money. Those two different income streams have different tax planning strategies available to the player.
• 21:06 - Jess talks specifics on W2 vs. 1099 strategies, including the importance of estimated tax payments.
• 21:45 - Players can set up a separate retirement called an individual 401k, which, as Jess says, has a 'triple benefit' to the family if done appropriately.
• 23:11 - The individual 401k is different than the MLB Vanguard 401k - because of Tarik's the field income, Tarik and Jess were able to receive a tax deduction for the money that went into the account; the money in the account is invested for their retirement, and with the money saved on taxes, the Skubals were able to fund a 529 plan for their niece's college education.
• 24:18 - Jess expands on the purpose of money and why appropriate tax planning gets you to do 'more of what you want to do.’
• 25:50 - The W2s generated to players could potentially be wrong - which is not well known, even amongst baseball players. Real dollars in tax savings could be missed if the family's CPA does not recalculate the player's 'duty days' schedule.
• 30:46 - Josh and Jess discuss the importance of a Roth IRA and why all players and families should take advantage of this tax-free account.
• 32:40 - Jess discusses the importance of taking advantage of every little opportunity every year to maximize a family's wealth.
• 33:45: Jess's advice to other families - don't be afraid to ask your tax and financial advisors questions. If you do not ask, real dollars could be missed.

There are several questions that constantly come up when we are having conversations with athletes and business owners like:

• What should a “deal” look like from both sides of the table?
• How should an athlete think about branding themselves?
• How are businesses utilizing their newfound ability to participate in NIL?

In this episode of AWM Capital’s Name, Image, and Likeness (NIL) series, we are joined by Anthony Ranaudo. Anthony is a College World Series champion, 1st round draft pick, and former MLB player. Today, Anthony is the owner and founder of Cards and Culture, a store and social platform in the collectibles, art, memorabilia, and lifestyle business that is utilizing NIL deals to help promote his business and the athletes themselves. 

Anthony has a unique perspective as both a business owner utilizing NIL, and a former professional athlete who understands the brand building opportunities that come with being a high-profile athlete. 

In this episode, Anthony gives us an insight into what athletes should be thinking about in terms of building their brands through NIL opportunities. He and Will discuss the importance of building a network, understanding the marketplace, spotting the right deals, staying present and humble, and more.

Episode Highlights

• 1:50: Perspective on the evolution of NIL in the first year.
• 4:08: How Anthony is utilizing NIL for his business.
• 5:20: Ways for athletes to take advantage of the NIL opportunity.
• 7:40: General perception of NIL versus reality.
• 12:30:What roadblocks are currently present for businesses entering into the NIL space?
• 13:50:Business and athlete use of trademarks and logos.
• 15:45:How and why athletes build brands and networks as a college athlete.
• 21:35:Social media presence as a high school athlete.
• 25:20:What kind of deals should an athlete look to enter into?
• 28:25:The future of NIL and what the landscape will look like in the coming years.
• 31:25:The importance of educating yourself on how to best utilize NIL

If you have any questions or would like to reach out to Anthony or Will directly, please email them at:

Anthony Ranaudo – [email protected]

Will McGuffey – [email protected]

In the constantly evolving landscape of NIL, understanding university guidelines as well as the resources that are available is paramount for success. From understanding state laws and NCAA rules, to what activities are allowed, or even how to manage taxes, there are several important topics that every student athlete should know. 

In this episode of AWM Capital’s NIL Podcast Series, Taylor Jacobs, Compliance Coordinator at LSU, talks with Will McGuffey about how to effectively participate in the NIL marketplace. Taylor shares her insight on how student athletes and their families should prepare for and participate in NIL, navigating agent relationships, and how NIL can make a positive impact in their life. This episode is a great starting point for understanding how universities work with their athletes to effectively participate in NIL activities.

While there are still a lot of uncertainties and unknowns that surround NIL rules and regulations, this episode should help settle some of those worries by giving listeners an inside look at how universities are helping prepare their student athletes. With more and more schools implementing similar policies and educational programs, Taylor’s advice will help athletes at all schools feel more confident in where to turn for guidance as they prepare to enter the world of NIL.

Episode Highlights

• 1:00: A look at Taylor’s responsibilities with NIL at LSU.
• 1:50:  The evolution of NIL from its inception.
• 3:30:  A discussion about what NILSU is and how schools are helping educate athletes and businesses.
• 5:43:  Common questions that athletes and businesses have about NIL.
• 8:45:  What type of disclosure is required for NIL agreements?
• 10:48: Agents and NIL, what is allowed?
• 12:57: Agent registration with the university and the state.
• 15:43:  Rules about the length of NIL contracts.
• 18:47:  How athletes can use NIL to prepare them for life after sports.
• 19:30:  A look at resources available for high school athletes to help understand NIL.
• 21:56:  A beginner’s look at taxes and money education for athletes.
• 25:02:  The effects of possible changes in state laws and NCAA rules.
• 28:12:  Important advice for anyone who wants to participate in NIL.

If you have any questions or would like to reach out to Will or Taylor directly, please email them at:

Taylor Jacobs – [email protected]

Will McGuffey – [email protected]

As a college athlete interested in NIL deals, how can you connect with potential partners?

With NIL being such a new concept, there are several ways outside of the traditional models of procuring endorsements that are showing up as options for student athletes. One of these new platforms is MatchPoint Connection, which is a two-way marketplace that helps student athletes and other social media influencers connect for endorsement purposes. Through their web-based app, student athletes can connect and partner with brands both locally and nationally to earn money through various types of endorsement deals.

In this episode, Jonathan Pixley, Vice President of Athletic Operations at MatchPoint Connection, sits down with AWM Capital’s Will McGuffey and Zach Miller to discuss what MatchPoint Connection is as well as the current landscape of NIL for college athletes. In what is a constantly evolving marketplace, Jonathan shares his insight on what the NIL marketplace looks like, and the direction that it is trending. One point that Jonathan believes that all athletes should understand is that while making money with current NIL opportunities is important, the focus should always be placed on being a good person and your preparation and performance on the field.

With many student athletes not knowing how to capitalize on the NIL opportunity, Jonathan gives our listeners valuable insight into the processes that have been successful for student athletes so far. Whether it is a proper valuation, understanding your marketability, or tips into curating and maintaining a successful brand, Jonathan, Will and Zach discuss how athletes should be looking at the NIL opportunity. 

Episode Highlights

• 2:05:  What is MatchPoint Connection?
• 4:30:  Why was Matchpoint Connection founded and what services does it offer student athletes?
• 5:35:  What does the NIL landscape look like for a student athlete?
• 6:57:  Are there any changes to NIL rules for NCAA athletes that are on the horizon?
• 8:30:  A discussion on current trends in the NIL marketplace and what are athletes able to earn.
• 10:10:  How should student athletes value themselves in the NIL marketplace?
• 11:50:  What should a student athlete do when managing their brand and image.
• 13:35:  NIL as a recruiting tool for college athletics.
• 15:58:  Discussion on how NIL will impact the future of NCAA sports.
• 19:00:  How to succeed on and off the field with NIL.

If you have any questions or would like to reach out to Will, Zach, or Jonathan directly, please email them at:

Jonathan Pixley – [email protected]

Will McGuffey – [email protected]

Zach Miller – [email protected]