Ed Butowsky, Managing Partner of Chapwood Investment Management, appears live on CNN with current and retired professional athletes like Winfred Tubbs, Tony Brackens, John Smith, Darren Woodson, and others to discuss how to manage your money. Life as a professional athlete is not just about knowing the playbooks, or knowing your opponents for the next game it’s about knowing how to invest your money. The average career for a professional athlete is relatively short, and the money they make in that time period is typically what they have to live on for the rest of their lives. Understanding how to invest and manage their money usually requires them to understand the basics of money management. In his financial boot camp training sessions, Ed Butowsky explains that if you keep your spending under control you will not go broke. Ed explains how to manage your money by comparing the “ideal” portfolio to a well balanced meal. The “ideal” meal includes public securities, alternatives, real estate, and private equity, but how much in each area? The bottom line is that everyone makes the same mistakes.
Tags: broke, cnn, jason smith, money management, nba, nfl, professional athletes, rich, tony brackens, wealthy, winfred tubbs