When we hear about a new contract signing for superstars like Aaron Judge, Tom Brady, and others, we assume that building wealth as an athlete or entertainer is easy! However, this is far from reality, as coming into sudden wealth in the entertainment and sports industries can be fraught with many challenges.

On the latest episode of Through the Wealth Lens, Hannes and Max are joined by Don Hoffman, Co-Managing Partner of Hoffman Mulligan CPAs, to discuss the top money lessons that can be learned by those in the sports and entertainment industries.

Join us for a great conversation surrounding the pressing topics facing these individuals, as well as how they can increase their financial stability, grow their wealth, and build a legacy.

Timecodes:

0:06 - Introduction and overview on the topic of the day

2:20 - How Don and Hannes became connected

3:10 - The most popular mistake that newly wealthy entertainers and athletes make

4:52 - Who an athlete and entertainer should be trusting with their wealth

6:06 - Don's exposure to this conversation and items to consider

8:17 - The peaks and valleys of an athlete or entertainer's career

10:35 - Most athletes and entertainers have financial turmoil throughout their life

14:16 - Knowledge is power

18:24 - In these cases, it's the sudden wealth that creates the problems

20:24 - How you can get in touch with Hannes and Max

21:42 - Closing remarks

Connect with Hannes Grascher:

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