Lessons - How to Secure Your Financial Future | Chris Pronger, NHL All-Star & Entrepreneur

Success Story with Scott D. Clary

Success Story Media

How To, Business, Education, Self-improvement

4.6 • 326 Ratings

🗓️ 18 November 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

➡️ Like The Podcast? Leave A Rating: https://ratethispodcast.com/successstoryIn this episode of "Success Story: Lessons," we sit down with rChris Pronger, a renowned NHL All-Star, delves into the challenges athletes face in managing wealth and shaping their identity beyond their sports careers.The Financial Pitfalls for Athletes: Chris discusses the alarming statistic that 70% of Lotto winners, akin to sports stars receiving hefty paychecks, end up bankrupt within five years. This sets the stage for exploring the unique financial challenges faced by athletes.Identity Beyond the Sport: Pronger emphasizes the identity crisis many athletes face post-retirement. He talks about the tendency to be solely defined by their sports careers, leading to challenges in transitioning to life beyond professional sports.Investment Mistakes and Learning Curves: Sharing personal anecdotes, Chris reflects on his own investment mistakes and the learning curve involved. He stresses the importance of being cautious with investments and the need to focus on wealth preservation rather than high-risk ventures.Advice for Future Financial Stability: Offering guidance to fellow athletes and others in high-income brackets, Pronger advocates for smart, low-risk investments. He emphasizes the importance of understanding one's limits and not getting swayed by the lavish lifestyles of the ultra-rich. ➡️ Show Linkshttps://successstorypodcast.comYouTube: https://youtu.be/fFghPKvKRcQApple: https://podcasts.apple.com/us/podcast/success-story-with-scott-d-clary/id1484783544Spotify: https://open.spotify.com/episode/49MfakctmDuGs4uQEjPVTxhttps://www.instagram.com/thechrispronger/ ➡️ Watch the Podcast On Youtubehttps://www.youtube.com/c/scottdclary

Transcript

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0:00.0	Welcome to Lessons episodes of Success Story, part of the HubSpot Podcast Network.
0:14.8	These lessons episodes will be shorter conversations with past guests, valued members of
0:20.4	the Success Story community community and myself.
0:23.0	They'll be focused on teaching you actionable, insightful takeaways
0:27.5	that you can use to upskill your personal and professional life.
0:31.0	70% of Lotto winners lose their money or go bankrupt in five years.
0:35.0	So that's 70% of people that know they're not going to get another paycheck, burn
0:41.0	through that money.
0:42.0	So think about that for a second. So imagine now you're making that kind of money and then you think you're going to get another paycheck.
0:47.5	You think you're going to get and that's not just a one-time event. Now that's ingrained in you over 15 years. So that's messing with you. So you're not you're not thinking in the right mindset obviously now I think that you and here's the second point to that and here's the follow upup to that. Your whole life you've been solely
1:04.9	focused on your sport, solely focused on being the best that you're a sport that you can
1:10.0	be. Most likely not focusing on your schooling as much as maybe you should and now you're
1:17.6	done now what you're you you solely immerse yourself in this sport.
1:24.0	You spent every waking second grinding at your sport.
1:29.9	And now what?
1:32.2	And a lot of times your whole identity is built around your sport.
1:36.0	There's Scott the hockey player.
1:38.0	How you doing?
1:40.0	It's not Scott.
1:42.0	It's not Scott from Toronto, it's not Scott from whatever. It's got the hockey player. You're a hockey player.
1:47.0	No, no, I play hockey, but that's not who I am that's not my sole person so it that and that we the more you hear that over and over and over again
2:00.3	it tends to get ingrained in you and it's so-and-so the football players and now you think you're just a football player
	...

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