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With a median income of $US750,000 and an average four-year career, NFL players should be financially secure after their careers. However, that’s rarely the case.
According to sports agent Leigh Steinberg, five reasons why NFLers are broke within three years of ending their careers include: Lack of competent financial planning advice, lack of awareness of how rapidly a career can end, lack of preparation for a second career, divorce, and the desire to support (i.e. provide financial support to family, extended family and friends).
“What if I told you there’s a potential client base that holds a majority of wealth in this country, represents 45% of U.S. millionaires, will inherit 70% of the $US41 trillion that enters generational wealth transfer over the next 40 years?” Krawcheck asked. “Ninety per cent of them control their money on their own at some point in their lives; they represent today 60% of college students and a greater per cent of graduate students and still growing. They start more businesses at twice the rate of the rest of the population. They’re first-time homebuyers at a greater rate than the rest of the population. They’re breadwinners or co-breadwinners in 60% of households, and they live longer than the rest of the population by 6 to 8 years and they’re healthier while doing so. You’d say, ‘That’s one helluva market, Sallie.'”
Money flowing into Janus’ unconstrained fund totaled $US85.6 million in January, upping the deposit total to roughly $US1.5 billion. The monthly inflow was the lowest since Bill Gross announced his move to the fund back in October.
Probabilities of a recession (Advisor Perspectives)
Probabilities for a recession in the US remain low. The New York Federal Reserve’s ‘Yield Curve as a Leading Indicator’ points to a 4.42% probability over the next year. The model created by economists Marcelle Chauvet and Jeremy Piger suggests just a 0.06% probability.
The Top 15 countries for retirement security (Financial Advisor)
The 2015 Natixis Global Retirement Index was released today. Taking the top three spots for providing a the measure of life expectations expected by retirees were: Switzerland, Norway, and Australia. The US finished in 19th place for the third straight year.
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