MENTORING FINANCIAL EDUCATION
GET KNOWLEDGE - GET WISDOM - GET WEALTH
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Less than 1% of all college athletes make it to the pros.
The average player will only play 3.4 years in the National Football League, 4.6 years in the National Basketball Association and less than 6 years for Major League Baseball and National Hockey League.
For a professional athlete, this equates to a short duration on their sports earning career. Imagine an athlete who signs a contract at age 21, or younger, and then by age 25 the same athlete is now unemployed. What are they doing for income for the next 40 or 50 years? Unless they prepare for the future they will run out of money.
The other alarming statistic is that 84% of all ex-NFL players will file bankruptcy or be financially stressed within 5 years of retirement from the league.
It is one thing to procure high salary compensation through sports career, yet another to preserve the majority of it upon retirement. The Financial Literacy Project intends to fill the void where the high schools and colleges do not provide financial classes. High schools and colleges do not have financial education or mentorship in this area. In fact, most high school and college grads do not even understand the financial basics.
Financial Literacy Project provides an extensive course taught by financial professionals who dedicate their time and efforts to this cause expecting nothing in return. The courses are free and open to all who wish to attend including parents who always have a profound impact and influence. Colleges, HighSchools and non-profit groups are taking advantage of the FLP curriculum in this important area.
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