Rebalance Chief Marketing Officer Lauren Simpson explains why young athletes who invest their NIL earnings early have a once-in-a-lifetime opportunity to buy themselves the ultimate asset — freedom.
Transcript
For young athletes who come into a lot of money, I would say take a look at your options because right now there are so many doors open to you and that money could buy you a new car, it could buy you a house, or it could buy you the freedom of time. If you choose right now at 19 or 20 that you want to retire by 35 or 40, it is completely possible for those people because they have time on their side for that compounding. So I would encourage them to consider that as one of the options. If you value travel, if you value — maybe for the male athletes — you want to be a stay at home dad, this is something where you could put the money into investments now and you just have more opportunities in the future.
The biggest advice I have for anyone who’s young is time is on your side still, and even this advice applies to people who are not young because you will never be younger than you are today, right now. So my advice is if you get a windfall of money, if you suddenly get a promotion, you should be looking at this as a way that you can better your future and also your present. So take a portion of it before you increase your lifestyle and put it into saving, put it into investing, because you’ve got that time on your side and you can have compounding interest.
I think it’s a very common thing to feel cagey about talking about finances. I’m fortunate enough that there are people out there on the internet who are willing to talk about it, because I didn’t know anything about passive income, I didn’t know anything about indexing. I didn’t know anything about saving for retirement until I came across some of these people who are willing to discuss that. And now that I have been able to learn those principles, it took some digging. It was hard to find some of the information that I needed, and I want to be able to share that with others. And I’m lucky enough to have found a company where their investing philosophy marries perfectly with somebody who wants to maximize returns while minimizing risk.
