We help college & professional athletes like you build wealth.

Hypothetical case study

Introducing Jay

Meet Jordan "Jay" Mitchell, a 21-year-old college senior who shines not only as a business major but also as a track and field star at a renowned Division 1 university. Recently, Jay found himself on the receiving end of a lucrative Name, Image, and Likeness (NIL) deal. Just like any other young adult athlete, Jay is hardworking and ambitious, and he sees a world of opportunities in front of him.

With his newfound wealth, Jay had clear financial goals:

He wanted to wisely invest his NIL deal earnings to secure his future.
He planned to buy real estate and start a business after graduation.
He wished to fund his graduate studies without having to resort to loans.

Image introducing Jay, a hypothetical college athlete, illustrating the types of clients we help as financial advisors in Birmingham, AL

DIY wasn’t working out.

Despite his business major, Jay found himself overwhelmed by the intricacies of personal finance. Managing a significant amount of money was a new challenge for him. He was aware of the pitfalls of poor financial management and was determined not to fall into those traps.

Jay initially tried to manage his finances himself, using online resources and tips from friends and family. However, this approach proved inadequate and time-consuming. He quickly realized that generic financial advice couldn't address his specific needs as a student-athlete.

Image showing Jay facing challenges with DIY financial planning, exemplifying the problems we solve as part of our wealth management services in Birmingham

The Solution: Hire a CFP®

Jay then turned to a local CFP® for a more personalized and effective solution. Here's how the local CFP® helped Jay:

She provided a comprehensive financial education catered to his unique needs, helping Jay understand his financial options and potential pitfalls.
She developed a detailed, personalized financial plan that aligned with his short-term and long-term goals.
She offered guidance on investment strategies that aligned with his risk tolerance.
She formulated a savings plan that would allow him to fund his graduate education.
She ensured regular financial check-ins to adapt his plan as needed and address any questions or concerns promptly.

Image symbolizing the solutions provided by Southern Wealth Builders, featuring Jay with a confident smile, showcasing our role as financial planners in Birmingham, AL

The Results

Thanks to the custom financial planning provided by a local CFP®, Jay:

Successfully invested a portion of his NIL deal into a diversified portfolio, which has already begun to yield returns.
Has a clear roadmap for his financial future, with actionable steps to reach his goals of buying real estate and starting a business.
Is now well on his way to saving enough for his graduate studies, alleviating the burden of future student loans.

This transformation allowed Jay to focus on his studies and athletic pursuits, secure in his financial future. Through working with a CFP®, Jay found more than just a financial planning service; he found a financial partner.

Note: We protect our clients’ personal information. This hypothetical case study does not involve an actual Southern Wealth Builders client. No portion of this content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if Southern Wealth Builders is engaged to provide investment advisory or financial planning services.