Meet the Co-chairs - TIAG
APC Audit, Tax, Advisory Ltd
Browne Craine and Co.
Meet the Co-chairs - TAGLAW
Herrick, Feinstein LLP
Meet the Co-chairs - TAG-SP
When preparing for your future outside of sport and trying to figure out how you will financially support yourself and your family after retirement from sport, you will have a few major decisions to make. One of the most important decisions you will have to make, concerns transitioning your career to either being employed or starting your own business. If you feel ready to take the risks associated with becoming an entrepreneur and decide that the world of business is for you, then you will have to proceed and choose a business sector that suits your skills and talents and resonates with your values.
Athletes are lucky enough to be earning more money than every average, or even well-paid job that’s out there in the job market. Nevertheless, this comes with a huge caveat; this caveat is called uncertainty of uneven cash flows or in simpler words, the fact that you may find yourself making $1,000,000 today but $50,000 in a year from now and vice versa. You may think that it doesn’t really matter, because at the end of the day you’re still earning good money but in reality, things tend to be way more complicated.
“Mo Money, Mo Problems” is the title of one of the top hits American rapper Notorious B.I.G wrote back in the 90’s, describing the struggle of managing increasing levels of income. Money management, in simple terms, is the process of knowing where money is going, how it is being spent and having a well-drawn-out plan to facilitate a specific goal.
Due to interest from our members, we have created this specialty group as a forum for TAG Alliances members to discuss the sports and entertainment industries.
Click the link to the left to veiw expert accountants and lawyers in the sports and entertainment industries.