Athlete Services

Athlete Services

"Within 5 years of retirement, 60% of NBA players are broke"
Professional Athletes are often young individuals who have limited if any experience managing millions of dollars. With this new wealth comes many responsibilities including taxes, mortgages, insurance, and retirement planning, just to name a few. RAM Financial Group wants to be your Financial Coach and help guide you to success by taking advantage of our complimentary services offered to our Professional Athlete clients. Below is a list of the tools we use to help make you financially sound during your career and long after your retirement:

Retirement Planning

The average career of a Professional Athlete is typically anywhere from 3-5 years. That means you must plan for almost 50 years of retirement. The challenge is making the earning of a relatively short career last a lifetime. Recent studies have shown the average career length for the 4 major U.S. Sports:
  • NFL- 3.5 years 1
  • NBA- 4.8 years 2
  • MLB- 5.6 years 3
  • NHL- 5.5 years 4
During this time, you will most likely earn more money per year, than at any other time in your life. That is why it is so important to make sure that your investment decisions, saving habits, and spending tendencies are guided by a professional at RAM Financial Group. We work with you to establish a retirement plan enabling you to maintain a high quality of living, long after your playing days are over. Our goal at your retirement is for you to be financially sound– able to do whatever you wish with the rest of your life.

Large Purchases Consulting

We encourage you to use RAM Financial Group as an information source for any of your large purchases. If you plan on buying a luxury car, remodeling your home, or taking a vacation to a tropical island, we can help you research and negotiate prices to help you get the best deal available.

Automated Bill Pay

After structuring your budget, we can help you set up automatic payments between your checking accounts, and all your monthly bills. Mortgages, car payments, auto and home insurance, utilities, and credit cards are a short list of the monthly payments you will most likely have to make. Your representative at RAM Financial Group can help you organize your payments and ensure that everything is taken care of automatically.

Investment Consulting

From stocks, bonds, to Alternative Investments, RAM Financial Group can help you make wise decisions. Prior to offering our advice, we consult with you to gain a clear and detailed understanding of your goals.
As a professional athlete, you will be approached by all types of people about all types of investments. The reason so many athletes go broke shortly after they retire is because they are convinced by friends and family that an opportunity is “the next big thing.” We often play the “bad guy” and can be the ones to say “no”, when it may be difficult for you to do so. You can blame it on us, that the investment scheme didn’t pass your investment advisor’s due diligence process. Our existing Professional Athlete clients appreciate the fact that we always offer our honest and straight forward advice on potential investments.

Wealth Management

Our President, Mark Reinking, is a NFLPA Registered Player Financial Advisor.
RAM Financial Group utilizes a comprehensive wealth management approach to meet all of your financial needs and goals. Our approach is a highly consultative process in order to construct integrated, customized solutions for you. Our Wealth Management Services are designed to solve your financial challenges and enhance your financial situation throughout all three phases of your financial life:
  • Wealth Accumulation
  • Wealth Preservation
  • Wealth Transfer

Mortgages/Real Estate

Owning a home is part of the American Dream. Our President at RAM Financial Group, Mark Reinking, began his career in 1974 in Residential Real Estate and has extensive experience in real estate transactions. When you purchase your home, you most likely will use a loan from a lender called a mortgage. In exchange for the mortgage, the lender requires you to make monthly payments for a fixed period of time until the loan is paid off. Mortgage terms can be quite complicated and it is recommended that you have a professional help walk you through the steps to ensure you get the most out of your money. At RAM Financial Group we can help you find a mortgage that complies with your financial plan, and assures that you are in the best position possible.

Career Counseling and Post Career Adjusting

Given the short length of the average Professional Athlete career, it is important to think about what you would like to do following your playing days. You need a game plan to accomplish your goals outside of competitive athletics. At RAM Financial Group, we will utilize our experience and resources with charities, business executives, attorneys, and government officials to help you build your Post Career game plan.

Insurance

Insurance is used by individuals to protect themselves and their families from unexpected events. At RAM Financial Group, we are skilled and licensed in providing Life Insurance. Our representatives will evaluate your situation and help you determine the appropriate amount of insurance to give you peace of mind about unexpected events.

Tax Planning

Taxes are part of what makes America the great nation that it is. It enables our governments to build schools, roads, water treatment plants, and all other types of programs that improve our quality of life.
However, the tax system in place can be quite complicated to the untrained individual. For example, for each game that you play and earn money for, you are required to pay income taxes in the state that the game took place. Also, if you establish residency in a state with a low state-income tax, you can potentially save over $100,000 on your signing bonus. That is why we offer our large network of Certified Public Accountants that can help you plan for tax payments in the most efficient and cost effective way possible.

Estate Planning (Wills & Trusts)

Along the journey of life you experience all sorts of taxes; income taxes, property taxes, and sales tax. If during this period you are one of the fortunate ones able to accumulate enough wealth to have a taxable estate (over $3,500,000), you have yet to experience the heftiest tax of all. The Estate Tax is designed for the IRS to seize about half of your wealth, in cash, within 9 months of your death. The tax-free benefits of our Estate Plan allow your loved ones and family to pay the tax when due, without having to sell your real estate, family business, or other assets.
We customize a solution for you to assure that your assets pass to whom you wish, when you wish, and how you wish, and that the whole process is done in the most tax and cost-efficient manner.

Budgeting

Budgeting is nothing more than your short-term financial plan. Throughout your career you have always operated using a plan for important matters such as games and practices. We help you apply the same planning and preparation skills that have propelled your athletic career, to your personal spending habits. This will help you keep records of how you spend money, and get the most out of the money you work so hard for. Through our itemized monthly budget report, we can help you monitor and adjust your spending habits to ensure you meet your financial goals.

Banking/Checking Accounts

Having money at a bank is one of the most fundamental processes for all Americans. It gives you quick and easy access to your money, enabling you to withdraw cash, use a debit card, and write checks. It also happens to be one of the safest places you can keep cash, as funds in U.S. bank accounts are insured from loss by the Federal Government for up to $250,000 (effective through December 31, 2009).
Banking and checking accounts offer convenient and useful services to their customers, however, they do come with a price. Some will simply charge a fee to open an account, while others could require minimums. Bankers could also confront you about opening interest earning savings accounts which typically earn less than many other options available to you. We suggest you consult with your representative from RAM Financial Group prior to opening any accounts, to make sure your best interest is at stake.


1. Average career length as reported by the NFL Players Association at http://www.nflplayers.com/user/template.aspx?fmid=181&lmid=349&pid=0&type=l#a3
2. Average career length of an NBA player at the start of the 2008-2009 season was 4.82, quoted by TIME magazine and sourced from the NBA http://www.time.com/time/magazine/article/0,9171,990035,00.html
3. Average career length derived from study performed by University of Colorado at Boulder research team, and published at http://www.sciencedaily.com/releases/2007/07/070709131254.htm
4. Average career length for all skaters (forwards & defense) from 1917-2004, as derived by a study at http://www.quanthockey.com/Distributions/CareerLengthSeasons.php