4 Things Professional Athletes Worry About

Professional athletes seem to have it made. Fame, fortune, fans, and fun are just some of the reasons why it’s the top choice for future profession among American boys. While there’s a lot to like about the lifestyle, athletes, too, have plenty of problems. Here are some of the most common challenges facing sports stars.

Injury

Every day, athletes are at risk for suffering gruesome and painful injuries. Whether during games or practices, opportunities occur where an individual can sustain a concussion, blow out a knee, pull a groin or experience another medical problem. While modern medicine has greatly improved recovery times and treatment procedures, there’s always the chance an athlete is unable to perform at the level he or she was at prior to an injury.

Family

Life on the road can be difficult for athletes trying to juggle a sports career with family responsibilities. It’s especially stressful for those in the minor leagues playing for the love of the game rather than a multi-million-dollar paycheck. Even those who strike it rich still miss priceless moments like hearing a child’s first words or seeing his or her first steps, however. The constant travel also puts a lot of stress on marriages, as evidenced by the 60-to-80 percent divorce rate for professional athletes.

Performance

While it may seem like just a game to spectators, professional sports is a business and a highly competitive one at that. With big-money contracts on the line, athletes need to maintain peak performance to keep the paychecks coming. Injuries and age both affect one's ability to perform, but players sometimes lose a starting position or even roster spot simply because the team drafted an exciting young player or signed a talented free agent. The average sports career only lasts a few years, so it’s necessary that an athlete be responsible for his or her earnings. Many agents emphasize the importance of financial planning for professional athletes so the client can still live comfortably once a playing career has ended.

Security

Famous personalities attract attention. Sometimes it’s just a star-struck fan looking for autographs, but other individuals may approach with shady investment advice or even more nefarious reasons. Stalkers may threaten physical and psychological harm, while blackmailers may attempt to bring athletes into ill-advised situations for extortion purposes. In some cases, friends or even family may be bad influences, looking to exploit an athlete’s fortune in order to experience a luxurious lifestyle.

Getting paid to play a game sounds like a great way to make a living, but it also comes with its own unique challenges. These are just some of the pressures and problems professional athletes face on a daily basis.

High-Value Investments and Trades You Should Know About

There is no denying the fact that the internet and the widespread use of digital information technology have entirely revolutionized the business environment. In some ways, modern technology has flushed out some traditional trading methods but also opened up new investment opportunities. For instance, some investors now trade in digital currencies, tech-based stocks, and even information. 

However, there are still some investment and trading opportunities that have stood the test of time and are still viable ventures for the conservative trader. Here are three examples of such investment opportunities that have barely been affected by modern developments.

Trading in Precious Metals and Minerals

It might seem odd that in a world with so many currencies, some people still opt to invest in precious metals such as gold, silver, diamonds, and even gems. As it turns out, this is a highly lucrative niche if you can source and sell goldand other precious minerals. The prices of these materials often fluctuate as demand rises and falls, presenting unique opportunities for investors to make money. Investors in this field, however, have to be keen when deciding when to buy or sell gold, gemstones, and the like.   

Antiques Hunting

An antique can be anything from a piece of furniture, vehicle, house, or appliance that has a high value due to its considerable age. But just because something is old doesn’t mean it’s an antique; it has to be one of a kind, rare, and interesting. Antique hunters collect such items and usually restore them to their former glory to fetch a high profit during the sale. Some popular antiques include grandfather clocks, pocket watches, classic cars, and old exquisite furniture. 

The Art Business      

Some artworks, particularly old paintings from world-renowned artists, fetch ridiculous amounts of money in art auctions and exhibitions. Art lovers sometimes pay hundreds of millions of dollars for paintings, sculptures, and masterful craftsmanship. Traders in the art businesses are always on the lookout to identify and source valuable art pieces that can fetch high dollar in the market. Some of these art pieces are still being discovered today in people’s homes. Contemporary art is also making its mark on the trading scene as well.

The whole premise of trading and making investments has never changed, even with advancements in technology and changing times; it still involves putting some money on the line and hoping to rip rewards. Although the trading methods listed above have remained virtually untouched by modern technology, in some ways, recent times have boosted their viability as businesses.

How Can You Deal With These Common Financial Issues?

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Money is something that just about everyone spends a decent amount of their time thinking about. Even if you're not that interested in becoming wealthy, there's no denying that money is one of the things that dictates just about everyone's ability to live their lives the way that they want to. Because of this, the idea of getting into any kind of financial difficulty can be incredibly scary for a lot of people and a source of serious stress. In order to make sure that you don't end up getting into any serious trouble, here are some of the most common reasons that people end up with money troubles, and what you can do in order to avoid them.

A household emergency

Your home is supposed to be the place where you feel the safest and most comfortable. Because of this, something happening to disrupt that safety can be incredibly traumatic. Worst of all, it can have a pretty serious impact on your finances. The best way to prevent this is to make sure that you know exactly what it is that your home insurance covers. Many people assume that things like damage to the contents of their home or something like flooding will automatically be covered, but many insurance companies don't include those things as standard.

Because of that, it's important that you make an effort to find out exactly what it is that your insurance covers. Sure, a more thorough insurance policy might be a little more expensive, but it's nothing compared to what you could be paying if something happens to your home and you're not properly covered.

Accident or illness

Your finances aren't usually the first thing that you think of when you are in some kind of accident or when you become ill. However, it's important to understand just how much of an impact these things can have on your finances. They can make it difficult for you to work which can leave you in an unpleasant position overall. That being said, it's important to understand that there are ways to mitigate this. Speaking to someone like a personal injury attorney can allow you to hold whoever was responsible for what happened and get the compensation that you deserve. You might want to think about these kinds of things when you're ill or when you've been in some kind of accident, but it's important not to let the situation get even worse.

Carelessness

This is the most common reason why many people end up in financial difficulty. Sure, things like household disasters and illnesses can cause a sudden drop in your finances, but the vast majority of the damage is done over time, bit by bit. A little bit of spending here and there might not seem like that much of a big deal, but that spending is going to add up incredibly quickly, and before you know it your bank balance is looking empty. The best thing to do is to create a clear household budget and make sure that you're always keeping track of exactly how much money is in your account at any given time.

A lack of help

One of the most common mistakes that a lot of people make is that they assume that they need to take care of their finances entirely on their own. However, working with the right people can make a huge difference when you're trying to figure out the best way to treat your finances.

The first step is to find the right bank. Somewhere like Merrick Bank has over 3 million customers, which gives a strong idea of how much help and support they can offer. From taking out a loan to arranging an overdraft, your bank can make managing your money a whole lot easier.

The reality of trying to avoid money troubles is that you've got to be willing to pay close attention to your finances at all times. A lot of people have a habit of trying to bury their heads in the sand and avoid facing up to the realities of their finances but this almost always just ends up making the whole situation worse. You need to pay close attention to your bank balance as well as how much you have coming in and out. Otherwise, you could wind up making uninformed financial decisions which can make cause some serious problems for your bank balance and for your life as a whole.