From Fortune:



Carl Nassib, a former NFL player, writes about how young athletes need to be financially and educationally prepared for the potential windfall from name, image, and likeness (NIL) deals. He discusses the risk of athletes squandering their wealth and emphasizes the need for financial literacy and preparedness, especially for college athletes who now have the opportunity for big-money contracts at a young age. Nassib calls for universities, collectives, and collegiate sports teams to provide the necessary education on financial management for young athletes to avoid potential financial pitfalls. He highlights the need for coaching, budgeting, saving, and investing tools to help maximize long-term benefits from NIL contracts. The article also mentions the importance of financial literacy being required as a high school graduation requirement and the need to support student athletes who often face crushing student loans and debt. Nassib emphasizes that more education and coaching is needed across the board to help young athletes transition successfully into the working world. He draws on his own experiences and advocates for more financial awareness and support for student athletes.



Original: Former NFL player Carl Nassib: ‘Gen Z college players are living the dream–but they could become cautionary tales if they don’t educate themselves about personal finance’