Athletic income can follow a very different timeline from a traditional career. Earnings may begin earlier, become concentrated within a relatively short period, and fluctuate significantly over time. Manaco Private Wealth offers financial planning and wealth management services designed to address financial considerations that may be relevant to professional athletes, collegiate athletes earning income through name, image and likeness (NIL) opportunities, and their families.
A professional athletic career can create financial circumstances that differ considerably from those of a traditional career. Earnings may be concentrated into fewer years and can vary based on contract structure, performance, career longevity, and other factors.
Financial planning considerations may include cash flow management, investment strategy, retirement planning, and the potential impact of earning income across multiple states or jurisdictions. Manaco Private Wealth can help address these considerations as part of a broader financial strategy that takes into account both an athlete's playing years and the financial transition that may follow an athletic career.
NIL opportunities can provide collegiate athletes with meaningful income at an early age, sometimes before they have had significant experience managing earnings, taxes, savings, and investments.
Depending on the nature of an NIL arrangement and an athlete's individual circumstances, this income may create tax and financial planning considerations that differ from traditional employment income. Manaco Private Wealth can provide financial planning guidance to NIL earners and their families on matters such as cash flow, saving, investing, and preparing for potential tax obligations, while considering both near-term needs and longer-term financial objectives.
Manaco Private Wealth offers financial planning and wealth management services that can be tailored to the circumstances of athletes and their families. The focus is on helping clients evaluate financial decisions related to their earnings, savings, investments, and short- and long-term financial objectives.
When appropriate, Manaco Private Wealth can coordinate with a client's independent tax, legal, and other professional advisors so that relevant financial planning considerations can be evaluated as part of the client's broader financial picture.
Manaco Private Wealth does not negotiate athletic, NIL, sponsorship, endorsement, or other contractual agreements and does not provide athlete representation or agent services. Legal, tax, contract negotiation, and athlete representation services should be provided by appropriately qualified independent professionals.
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