by John Darer CLU ChFC CSSC RSP
Chris McAllister has gone from the Pro-Bowl to the "Cereal Bowl", at Mom and Dad's house. A first round draft pick out of University of Arizona in 1999, McAllister was a 3 time Pro Bowler (career stats) who signed a 7 year $55 million dollar contract in 2004, about 5 years prior to his last NFL game in 2009.
It is estimated that up to 80% of NFL players squander their fortunes in the years immediately following their retirement. Source; Yahoo Sports January 31, 2011
Between 1999 and 2002, the NFL Player's Asspciation estimates that 78 players lost a total of $42 million in acts of fraud perpetrated by financial advisers.
The primary reasons for financial failure are little different from lottery winners or those who receive money from the settlement of a lawsuit.
- Made bad investment choices
- Spent frivolously
- Fell victim to predatory advisors
- Assigned their less-than-qualified friends or family to handle their affairs.
4structures.com, LLC offers immediate and deferred guaranteed income solutions for athletes and other celebrities which can help prevent the squandering of assets that they would otherwise receive receive from product endorsements.
A structured settlement should be considered as part of the settlement planning process because of the guaranteed income that it provides, free of stock market market volatility and the stagnated current interest rates on CDs
For more information about structured celebrity endorsement fees or structured settlements please contact John Darer at 203-325-8640.