Since its introduction in 2021, the Name, Image, and Likeness (NIL) initiative has been steadily reshaping the collegiate athletics landscape. It provides student-athletes with a range of opportunities, including:
- Harnessing their personal brand for financial gain
- Developing robust financial planning skills
- Establishing economic stability for themselves and their families
Income from NIL can quickly become quite significant. In fact, many successful pro athletes use their NIL to generate more income than they make playing their sport.
The opportunities are exciting for young athletes. However, NIL also presents a new set of complex considerations and financial responsibilities for student-athletes.
In this article, we explore:
- The must-consider items for student-athletes with NIL income
- Financial planning considerations for student-athletes with NIL income
- Characteristics to seek when engaging a trusted wealth management advisor
Read the full article on the PBMares Wealth Management website.
