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Many young people have aspirations of growing up to play professional sports, perhaps in the NBA or the NFL, and this is not a bad ambition. However, the competition is fierce and a lot of getting into professional sports depend upon luck, rather than just skills alone. The question that remains on parents’ minds and maybe in the minds of those who are pursuing a professional career in sports is if a career in sports is worthwhile. An answer to this will be addressed in this article and perhaps give inquisitive minds some things to think about.
A Look at Professional Sports as a Career
One of the things to consider if a person is fortunate enough to make in the big leagues (as far as professional sports are concerned) is the tax bracket in which the person will fall. The person may want to look into using Athlete Accounting Services to help him or her navigate through any financial hurdles that are bound to come up when making so much money. Too many athletes have fallen into bankruptcy and other hard times because of the improper handling of their finances. It is very important that they connect with the right financial services to help manage their money properly.
More Information about Professional Sports as a Career
Another thing to look at is that on average, a professional athlete makes close to $50,000 a year, and not many get the million-dollar contracts that is seen in the news. This is something the would-be professional athlete needs to be aware of if he or she is serious about making a career out of sports. A person who is considering professional sports as a career must avail himself or herself of other skills, as well. The person needs to develop interpersonal skills, physical stamina, the ability to stay focused, and great hand and eye coordination.Too many athletes have played sports, only to reach the end of their careers with nothing else to go to. It is also a good idea to make investments into other areas to help develop and build a nest egg for later on.Click To Tweet
Looking More at the Worthiness of Becoming a Professional Athlete
It cannot be iterated enough that more often than not the professional basketball players, football players, and baseball players end up going bankrupt or under financial stress within a couple of years into the franchise. One article stated that 60 percent of players in the NBA become bankrupt within the first five years of their career playing basketball. It is also good to keep in mind that a career in professional sports is often short-lived, and the professional athlete should make the most of the finances gained during that time. In fact, the average career in professional sports is less than five years.
A Final Look at Professional Sports and the Worth of Making Them a Career
Something that professional athletes should consider when going into a career of playing professional sports is having another skill or career into which they can go. This is in case something happens to them, such as blowing a knee or losing the use of an arm, they will have something to fall back on. Too many athletes have played sports, only to reach the end of their careers with nothing else to go to. It is also a good idea to make investments into other areas to help develop and build a nest egg for later on. These tips will help professional athletes keep their heads on straight.