Former Dallas Cowboys wide receiver Terrell Owens has been on a promotional interview tour as his date with destiny draws closer. The Hall of Fame Elect will be enshrined in the Professional Football Hall of Fame on August 5th of this year in Canton. During his promotional interview tour, Terrell Owens spoke with The Hype Magazine about financial literacy and explained his new partnership with Nerd Wallet. Nerd Wallet is a company based out San Franciso, and their mission is to help young athletes as well as, people, in general, find the best financial advisors. It also provides an avenue to all their questions answered, as it pertains to their individual business needs.
“I partnered with them because of my own experiences of being taken advantage of by prior financial advisers. Eric Dickerson also partnered with Nerd Wallet for similar reasons. It would likely be very beneficial, for those willing to be in the driver’s seats of their financial lives, to listen to our advice on these matters, especially when you have the two of us, who have gone through these tough experiences first hand and learned so much in the process.” Says Owens
“Just because someone like me is seen as, “successful,” does not mean there are not negative minded individuals out there to try to slam me in the same breath. I have read comments that stated, ‘Why would you take advice from someone who has lost so much money?” To me, I see it is, “why wouldn’t you take advice from this person?” In my case, it was not a situation where I lost money making careless investments. I was negligent by not holding my financial team accountable for what I hired them to do.”
There have been numerous athletes that have found success after they retired individuals such as, Michael Jordan, Roger Staubach, Magic Johnson, Michael Strahan, Derek Jeter, Alex Rodriguez, Wayne Gretzky, and David Beckham to name a few. With all of these individuals that had success after their playing careers, why have not young athletes seek advice regarding business like they do when that they are seeking on the court or field advice. Terrell Owens was asked that same question and here is what he told The Hype Magazine.
“I do not think it is an issue of pride. I feel it is just something that many people do not ask about. Some individuals might not even know what to ask. If you are not raised in an environment where no one taught you how to manage your finances, you’re going to have a hard time learning how to do this. Not a lot of parents have ample experience with this, and if you think about it, most of the young athletes who make it to the pros come from urban communities, potentially single-parent households where financial planning wasn’t always a top priority.” says Owens He would continue by stating “I was not as fortunate as people who had both their parents around to lean on for support or guidance with important life lessons such as financial planning. I didn’t have anyone around who taught me what it takes to manage substantial finances. It just comes down to these people with new wealth being comfortable with asking and not being afraid of someone thinking they have dumb questions. To me, there are no dumb questions. You must put yourself in the mind frame to be okay with realizing that you do not know everything and that you must do your due diligence and hire the right people.”
You can see the full interview with Terell Owens and The Hype Magazine here.
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