Foundation For Financial Excellence: Lessons From The Pros: A Game Plan For The Collegiate Athlete with Ryan Schachtner

Ryan Schachtner is the CEO of Carolina Asset Management, a firm that works closely with professional athletes in creating financial strategies that augment their current income while preparing to maximize their retirement funds.

He is a former college athlete forced into retirement from a major injury. With school not being his strength, he utilized the skills he learned as an athlete to build one of the fastest-growing independent financial planning firms in the southeast. 

When Covid shut the world down he saw an opportunity and seized it, authoring a financial literacy and platform maximization book for college athletes which led to him starting another business partnering with athletic departments, conferences, and governing athletic bodies to eradicate financial illiteracy. 

Takeaways:

1. I think the biggest takeaway is life always deals us obstacles, right?.. When COVID came, everything looked bleak in my financial planning business. I had to look at the rough times and analyze them to see opportunity, then take action and make things happen when the world looked like it was gonna halt forever. (01:47)
2. There are around 550,000 student-athletes, across all sports, including Olympians. Out of that population, you're maybe going to get 12,000 that gets to go and play professional sports and make money for playing sports at a pro-level. So it's very, very few. (08:55)
3. As an athlete, you're trained that you're not gonna win every bat. You failed seven out of 10 times. And so you just naturally know how to bounce back from having losses. (13:37)

Visit https://www.amazon.com/Foundation-Financial-Excellence-Lessons to get a copy of Ryan's book.