Finance for Professional Athletes with Michael Eakman
Finance for Professional Athletes with Michael Eakman
Welcome back to the Passive Wealth Strategies show. Today we meet our guest Michael Eakman II to talk about finance for professional athletes and high paid professionals, finding the right people, and investing regardless of time.
Michael is the Founder and Wealth Manager at Adaptive Wealth Partners in Las Vegas. He's been working in Finance since 2011 and serving clients across the country with a unique focus on investors who are sports and entertainment professionals, as well as business owners and entrepreneurs. Finances are often the #1 stress people have in life and Michael has experienced what it is like to struggle with direction and money in life personally. Having experienced a financial rock bottom of his own, Michael now has a passion for finding solutions to simplify the complexity of money and financial issues in all areas of life for his clients.
[00:01 - 03:54] Opening Segment
- Michael gives us an introduction about himself
- As a wealth manager and President of the Adaptive Wealth Partner
- What Adaptive Wealth Partner is all about
[03:55 - 07:43] Where Athletes Go Wrong
- Michael talks about how athletes face similar challenges with ordinary people
- Building foundational knowledge for athletes
- Investments, savings, business opportunities
- Spending on daily lifestyle
[07:44 - 21:10] Finance for Professional Athletes
- Do your homework
- Understand what you are investing in
- Michael talks about asking the right questions to find the right advisors
- Investment Psychology
- Looking at investments as a a clock
- Extra Spare Tire Fund
- Michael talks about investing and financial advising when the market is down
[21:11 - 29:48] Closing Segment
- Quick break for our sponsors
- What is the best investment you've ever made other than your education?
- Mental strategies; staying positive
- Michael’s worst investment
- Buying cars in high school
- What is the most important lesson that you've learned in business and investing?
- “Going outside of my comfort zone and be okay with not knowing everything, but knowing where to find the answers for everything.”
- Connect with my guest. See the links below.
Tweetable Quotes:
“Investing is a mental game as much as it is a financial game.” -Michael Eakman
“It’s not a bad thing to trust others but you have to know what questions to ask.” -Michael Eakman
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Connect with Michael through LinkedIn.
Visit his website: https://www.adaptivewealthpartners.com/
