Finances can be complicated, but they don't have to be.

I break down financial topics that may seem complex and overwhelming, so you can start taking action on your financial goals.

I'm Ari Talby, and it all starts here on Personal Finance Redefined.

Hello everyone and welcome back to another episode of the Personal Finance Redefined

podcast. Hope you've been enjoying it so far. If you have, please go ahead and rate it,

review it. I want to make sure I'm helping as many people as possible and I hope it's been

helpful so far. So this episode

today, it's about professional athletes. How do you manage your finances? So in this episode,

and now a lot of this episode applies to everyone, but this episode is specifically designed for

athletes, as they often receive high amounts of income throughout their career

and they need to manage because their investments transition into a new career.

From the most tax-efficient place, how are you able to do that?

What's it like when all of a sudden your income drops and how can you manage that?

So many of clients that are professional athletes send me a question and they go,

Ari, I know my income is high now, but how can I maximize the money I'm making from a tax

perspective as well as investment perspective while being smart about saving for the future?

So it's a great question. And many athletes, they're going to see significant income rises over time.

It's often not likely a nine to five jobs going to offer a 100 or 200% increase in income year over year, but many athletes do.

And if you're one of those athletes who's trying to think about what to do, here's a framework to think about.

Think about how much it is you need to live on. And to be conservative, really think about what to do. Here's a framework to think about. Think about how much it is you need to live on.

And to be conservative, really think about everything.

We're talking car, food, travel.

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