Episode 203 - Pittsburgh Native Rob Wilson: Financial Advisor to the Stars!

Imagine that you’re twenty-two-years-old and you’ve just been drafted into the National Football League. Chances are you haven’t spent a lot of time thinking about financial planning—not many people that age have, truth be told. In a world where the average NFL career lasts just three years, how does a young player avoid the pitfalls of sudden wealth to ensure that a hefty signing bonus puts him on a path to a secure life after his contract ends. How should he plan for retirement?Are you chuckling to yourself? Maybe you think that is not going to be the first thing on his mind? You are probably correct. But, according to the National Endowment for Financial Education, about 70 percent of people who suddenly receive a windfall of cash will be broke a few years later. Is there something even we—those of us whose lives are not so high-profile—can learn from the mistakes of others?On tonight’s edition of The Lange Money Hour, CPA/Attorney Jim Lange interviews the man who has been dubbed “Hip Hop’s Financial Advisor” – Pittsburgh native Rob Wilson. Rob is best known for representing NFL players, musicians, and other young celebrities. On the program, he’ll share some of his stories about helping these high-profile clients adjust to their newfound wealth. But, you may be surprised to learn that the fundamentals of good planning stretch across all pay scales, and may even apply to a windfall that you might be in line for—even if it isn’t an NFL contract or a recording deal!Tune in to learn:How Rob went from getting a degree in industrial engineering, to becoming a high-profile financial advisor and TV personality.How he landed his first NFL client.The advice he gives when he first meets a young superstar with a big contract.How all millennials view money differently than older Americans, and why they face challenges that didn’t exist 30 years ago.And...why there’s never been a better time in history to start a business.