We recently sat down with Morgan Stanley Financial Advisors Vince Fiori and Mark Bradburn. Their team focuses on working with baseball players to help them achieve their financial goals. After spending time with them and receiving feedback from some of our members who work with them, we now understand many of the common financial mistakes they help professional athletes avoid.
A budget at its core is a sum of all of your “ins and outs” and the goal is to get to $0. In this equation each one of your dollars is assigned to a job. When you assign your dollars a job your money works for you to reach your financial goals. Before all of that, there are several questions you must ask yourself and the answers will assist you in building your budget .