Chris Holden

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When Professional Athletes Are Seeking Financial Advice, NYC-Based Darien Dash Is Often The Advisor They Choose

by Chris Holden - October 12th, 2020.
Filed under: Advisor, Business Leader, CEO, Entrepreneur, Founder.

According to NYC-based, strategic advisor and entrepreneur Darien Dash, wealthy professional athletes are as likely as anyone else to make financial mistakes. Although they may be paid large sums of money, these athletes sometimes make the huge mistake of not developing a future financial plan.

In a 2019 article on the Medium website, Mr. Dash explains some of the financial strategies that he advises professional athletes to follow, both before and after they retire from professional sports. On average, a professional athlete’s career generally lasts for 3.5 through 10 years

Darien Dash regularly works with pro athletes in different stages of their working lives, and suggests that they lean toward long-term investments.

In the National Football League, player salaries are higher than ever, but a serious injury or bad case of nerves could bring a sudden end to any player’s career. Such scenarios are not uncommon. The percentage of former pro football players who experience major financial problems shortly after retiring is estimated to be higher than 75 percent. Former NBA players often encounter the same financial difficulties, but usually at a slower rate of progression.

For young, professional sports rookies, it can be quite easy to spend large amounts of money on various luxury items. Darien Dash recommends that these players work with a financial planner sooner rather than later. Whether they’re in the active career stage, the retirement from the sport phase, or the period of long term retirement, Darien Dash sees long-term investments as a good choice for these athletes.

No matter if a professional athlete decides to work with a financial advisor or not, it is important for them to constantly be aware of the status of their money. If they don’t pay attention to all details, they could end up losing all of their wealth. Source: https://en.wikipedia.org/wiki/Dash_(rapper)

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