The very nature of professional sports can leave athletes vulnerable to individuals who might not have their best interests in mind, financially. In today's "Interview with an Expert" Tommy Doerfler sits down with retired NHL player, Cody Hodgson, to discuss ways in which athletes can educate and protect themselves from being taken advantage of.
Cody was seriously injured at 19 and his injury forced him to reevaluate his long-term career decisions. He realized he needed to get a handle on his finances and to also gain advice on his wealth management. Many athletes live in the moment, unaware of how their financial decisions now, will affect them long-term.
Sharing his words of wisdom for athletes of all ages, Cody talks tips of caution related to: allowing others to manage your contracts without knowing exactly what you are signing, not educating yourself properly or allowing yourself to seek advice on simple financial knowledge, and not preparing to grow your income after your career may come to an end.
For the athlete, finances may seem like a distraction from doing the one thing they need to focus on the most: playing the game. However, as Cody will share, making sure that you are taking smart and educated financial steps will prove to be less of a distraction, overall, and benefit you for years, down the road.
Raymond James is not affiliated with and does not endorse the opinions or services of Cody Hodgson.
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