TPM posted:You cant go to school and pro play baseball at the same time, although some may think you can.
And no decent advisor will take all of whatever you have left and invest it, too much risk. So you really wont make much off of what they invest for you, only reinvest what you make from some investments. If you dont give it to an advisor, you will blow it. My son at 30 has to go discuss with his guy why he needs to have a transfer. Its all about objectives and the idea is to preserve what he has.
If you have college debt and get drafted and get some decent money, you have to pay it off. Period. If you get a sizeable bonus, sign. Stop trying to figure out the numbers because it doesnt work. One can plan on reaching arbitration if you cant get past AA.
JMO from our own experience.
TMP you might be spot on in your experience however,
I do handle money for a living and have been self employed for 25 years, budgets and high level non detail oriented thoughts and setting of objectives are my strengths, the details not so much - we may be on very similar page and just not aware of it.
"no decent advisor" is way to concrete of a statement. plus I never said 100% of the balance needed to be invested aggressively. money not spent, set a side in a long term financial plan even if it is part an emergency fund is part of investing.
I learned many years ago there is much money to made in places where other people fail to look. by following the pack you will tend just run up someone elses back side when the traffic stops.
I know several guys who have gone to college online while in the minors, some of them are now money managers because they understand risk, another is in the MLB because he had enough talent, luck and hard work to make it. You are selling players short to think they can't study and make it to the MLB, that is just factually inaccurate.