Professional Athletics

Paper Summary:

This paper analyzes the current situation in relation to the job duration of today's professional athlete. The paper examines the amount that is optimal for the savings plan of the professional athlete who intends to ensure a retirement that is at least financially stable, if not productive or in the best case, lucrative. The paper includes charts and tables of salaries, amounts needed to save and amounts currently saved if available. Further the paper explores whether today's professional athlete is receiving proper advisement in the area of financial matters by mentors in the athletics field.
Outline
Objective
Methodology
Introduction
Literature Review
Summary & Conclusion

From the Paper:

"The International Foundation for Retirement Education or InFRE believes that one of the "foremost responsibilities are to promote the need for education and or advice from well-qualified retirement professionals." Further the Foundation (InFRE) believes that there is more to counseling individuals competently in terms of their retirement that assisting them in being able to communicate about investments, asset allocation, securities laws and the such. The InFRE organization has been in the process of working with elected officials in the initiative to offer education in the subject. The work entitled "Managed Accounts Model Makes 401(K) Advice Affordable, Easy and Unbiased" states that the "primary focus of the financial services industry" has been in signing individuals up but after that point had "largely left them to their own devices." (Henkel, 2002) The Foundation (InFRE) states that it is not the industry's fault entirely but also the employees who have access to advice concerning their retirement and don't utilize it. The question at hand is whether or not professional athletes receive proper advice or any advice as to their planning of finances for the future in terms of their retirement."

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