Our Victory group for couples will have the privilege of learning from Dr. Alvin Ang this June 18 (Thursday) on the subject of finances. Dr. Ang, an economist, was recently part of ICON 2015. He’s currently serving as a professor at Ateneo de Manila University Faculty of Economics.
Dr. Ang has been a very close friend of ours. His heart has always been to educate people on the wise use of their money. No wonder, he has been traveling around Asia and even the United States in recent years.
As my wife and I talk about him and plan for his upcoming talk with our group, I came across an article on current Sacramento Kings big man Jason Thompson, one of eight NBA players, who joined the eighth annual Sportscaster U. broadcasting program at Syracuse University.
The four-day program gives players an opportunity to be on-air as radio and TV game analysts and do other production stuff.
Although he has two years and $13.26 million remaining on his current contract, the 6-foot-11 center out of Rider University talked about “preparing for life after basketball”.
“People tell you to prepare for life after basketball, so to have this broadcast program is important.”
There is a grain of truth on what Thompson said. Something every athlete today should seriously consider.
Whether you are a so-called ‘star player’, who earns close to half a million pesos each month, who can afford living in a luxurious condominium and make big purchases today, or just an average athlete who is fighting for a regular spot with a team each season, everybody has to face the reality that what you have today, might be gone tomorrow.
There have been countless number of PBA players before who earned six-figure digits each month, but sadly, failed to save up their hard-earned money, thinking that money won’t end.
However, every PBA player, who reaches the age of 34 onwards eventually have to face the fact that their skills diminish, their explosiveness will desert them and of course, there will always be somebody who’s faster, younger and more athletic, who will come in and take their spot.
The wisest thing to do then, is to save a percentage of your earning each month, avoid turning to Citibank or any other credit card whenever you don’t have cash, and this early, look for someone who can mentor you in the area of finances.
That way, you won’t be caught unprepared when something happens, or when retirement begins to knock at your door.