College Athletes Are Getting Terrible Money Advice
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Shameful, absolutely shameful advice for college kids. this big news right now, and again, you would think that Congress had more important things to work about. You got Ted Cruz involved, and they’re all getting involved and testimony in regards to college athletics, name, image, and likeness. what that means and how there’s gonna will there be a super league and how this all works out now, how players.
Kids. Kids are are getting paid. we’ve all seen it. We watch the kids transferring. It’s out of control. I’m gonna take that. I want to get involved in that argument. I have very strong opinions on what’s taking place, but I I I saw this saw this story talking about how the new college football millionaires spending eighty thousand, hundred thousand dollars.
On their high school prom. Elite recruits are cashing checks while their classmates are still in high school, resulting in proms with Bentley’s five-figure watches and event planners. And this is in the Wall Street Journal. And they they they actually kind of like highlighting these stories. Highlighting these stories, just showing these kids, going from kid to kid to kid what they spent.
Custom suit $2,500. Christian Labutin Spike Sneakers $1,100. Mercedes AMG rental $1,500. Just what these kids are spending on their prom. And I don’t know what’s going on now. You see these things online where they’re like they’re flashing wads of cash. we
We Markowski Investments we tell people no, no. I I I will never we won’t participate in people’s undoing.
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We won’t. I mean, I’ll I’ll explain this in a second. best way I can explain. I actually I’ll go back to the nineteen nineties when all of a sudden I’m getting calls from clients and you know, your portfolio’s way too conservative. You gotta we gotta be more into tech, and you know, my buddy here at the golf said this and my blah blah blah blah blah blah blah. And like, no, no, this is not good. you wanna do that, you can take your poor fellow.
for the elsewhere, ’cause I know what’s gonna happen. I know how it’s gonna end.
And again, that was very difficult for us to do because we were obviously a much smaller firm back in our infancy. but I I will not participate in any of this. And this has been going on for for some time when it comes to dealing with athletes. I knew math now with the younger people, that’s one thing.
Actually, it was an interesting interview. It was with Ron Gronkowski. Okay, best tight ends in the history of the game. lived down here, not far from me. He explained how you know he he understood. He understood and how he lived very frugally when he was in the NFL and you know, explaining, you know, that he understood that the NFL stands for not for long.
NFL, not for long. What does the average running back play less than three years in the NFL? Now again, these are kids right now. You know, y y you don’t think that an injury can happen in this sport and they can be done lickety split.
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You y y we see the st you see the stories all the time. These athletes with their entourages and all of this money that they’re blowing and they end up being broke, busted, and disgusted. I I won’t deal with clients like this. They’re gonna work with Markowski and best especially if they’re kids. Okay. It’s my money that I want. Okay, it’s your money. Okay. You wanna go blow it, okay? Go work with some advisor that’s gonna be a yes person.
to you, okay. But you’re you’re eighteen years old, and this is just you know getting NIL money in in college. You understand what that money would be worth if invested properly.
Yeah, not you you’re playing in in the most dangerous sport that’s out there as far as you know team sports are concerned. Done. Done. You hurt your knee, AC well boom. Well, you think that NIL money is gonna steep you know, keep pouring in? And you’re blowing tens of thousands of dollars on a high school prom?
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Listen, and I’m not stupid. I understand. Okay. You know, you have to kind of blow off a little bit of steam. And I’ve said that, you know, you take a little portion of something you get, you buy your something nice, you buy your family something nice, and you bank the rest. You don’t need it. Okay? Put it away. Let it grow for you. And just a lot of shit agents.
in this business shit advisors that play into all of this crap. That that, yeah, you gotta look like this so you can look good on the gram and you can do this and you can do that.
Just using ya, man.
They’re just using you.
Why is it on? Watchdog on wallstreet.com.
