I Have The Money So...

If you were guaranteed 1.4 million dollars would you be able to live off of 60 thousand per year?  Ryan Broyles of the Detroit Lion’s signed a contract for 3.6 million dollars in 2012, but he and his wife decided to prepare for their future and made the decision to live on a strict budget of 60 thousand dollars per year.  I say strict, because when you are guaranteed 1.4 million it maybe VERY hard to ONLY live on 60 thousand dollars.  Imagine if your friends and family’s know that you have 1.4 million dollars in the bank and they have a financial issue… It would be hard for them not to ask for help and possibly harder for you to say “No.”  Imagine going shopping and seeing something you want to buy and having the discipline to say “no that is not in the budget”, when you know you could easily buy it.  His discipline is so strong that instead of buying a luxury vehicle when he signed his contract, he and his wife are driving Mazda’s. 

We all need a little help to be put on the right path and Ryan received some great information from his financial advisor that anyone starting a new job (professional athlete or not) could use:

1.      Splurge  - Take some of the money to do something or buy something you really want (within your current financial means).
2.      Budget – Devise a financial plan that you and your family can stick to that will allow you to get out of debt (if you are in debt), save and invest.
3.      Invest - Make your money work for you.  If you are not knowledgeable about investments seek out a professional that can help you invest in your future.

I am sharing this story about Ryan Broyles, because it is important that we celebrate athletes when they are making great choices, not just when they are broke or in trouble. Additionally, what I love most about Ryan’s story is that he is paying it forward.  He speaks to teens about how being financially responsible is part of being a professional athlete.   We have to start thinking not only about our future, but also about the mindset of the children who look up to us.  If our children are informed, they will hopefully make smart decisions about their finances.

Be blessed

A. Mayartis J.

Children Have Goals Too

Summer is over and it is time for your child to matriculate to their new grade, both of you are filled with fear intertwined with excitement regarding the possibilities of this 2015/16 school year. You have provided them with the required school supplies, new clothes and an attitude of excellence. You are both expecting the best grades, involvement in new activities and a few minor hiccups (what would life be without them). Each year your child matures and their exposure to new things and people helps them to define who they are and will be as adults. As an engaged parent you try to encourage your children to find something they love and pursue them. This year why not teach them how to explore some of their hidden interest by setting goals to achieve them?

 If your children are involved in a sports, acting or play an instrument you already know when they will have practice, a game or a performance, because more than likely you are their transportation. What if, this school year you work with them to write down a list of things they want to accomplish or maybe create a vision board and together as a family you try to bring these ideas to fruition? This will get them talking about some of their hidden dreams and will teach them how to create goals and put a plan together to achieve them. It may unearth a talent or skill you did not know they possessed.

 As adults we have to-do list at work and at home, we may even have a goal or bucket list, but we rarely show our children how we complete some of these lists/ goals (maybe because we haven’t completed any of our goals). Imagine if one of your children want to learn how to create a video game instead of just playing it. You know nothing about programming, but this is his/her one and only goal. What do you do?

1. Research - You can find information on almost anything on the web. Spending time showing your child how to find the information they need maybe a great tool to help them with school projects. In doing a quick search I found: Scratch: This coding platform was designed by the MIT Media Lab to   teach kids the basics of programming without needing to write code. Available as a free download: http://scratch.mit.edu/Roblox: Free gaming platform where kids build their own games, but can also play games built by others: http://www.roblox.com/

1. Plan – Now that you know where to find the tools to help your child learn how to create video games now it is time to put a mini plan together. Answer some of these questions in your plan:  Is there a cost, how will we pay for it? How much time each week will it take to learn how to code in order to really build a game? What is the timeline to make it happen?
2. Schedule - Set aside time that you will work with him/her each day/week/month to learn how to create a video game.  Create a routine that works best for the both of you.
3. Make it fun – As a reward for being diligent about their goal(s) and if it is in the budget send them to a camp to learn more about games and programming during the summer. There are even weekend events that incorporate video games and programming.

1. Tell the world - Show your child how proud you are of them for accomplishing their goals by finding a way to let friends and family know of their amazing feat (unless they are really shy and this will embarrasses them to much).

PARENTS... I am giving you a 2015/16 homework assignment (as if you do not have enough work to do) to work on with your children... Encourage your child to create a goal and help them to accomplish it.  I would love to hear some of the goals you and your children are planning to accomplish this year and even a follow-up on how you made it happen. 

Be blessed

A. Mayartis J.

The Math Adds Up

When I read the story about the 308-pound NFL player who drives a used car that cost him $9000… It put an incredibly huge smile on my face.  It was not the fact that the car was unusually small for a man that is 6 foot 3 and weighs 308-pounds.  It was not that the picture that accompanied this great story was comical.  It was because John Urschel (@mathmeetsfball), who plays on the Baltimore Ravens decided not succumb to peer pressure or run with the joneses.

What made me smile from ear to ear was how the mathematician or as he likes to call himself the “Mathlete” understood the bigger picture.  He knew, how much he was guaranteed to make, he knew that if he was hurt, he would not see any of the contractual money or as I like to call it “the promise money”, so he created a budget and stayed within his means.  I am sure he was teased by the veterans and maybe even some of the rookies (spending money they do not have), but he realized that if I buy a used car for $9000 that I like and I keep my expenses low, that I would be able to maximize this contract.  I try to instill this in the athletes I speak to on a daily bases, but it is hard when the media portrays them as successful athletes, only if they are spending thousands of dollars and driving fancy cars. It’s even harder if family, friends and even players push them to live these fictitious lives.

According to the Baltimore Sun John tries to live on $25000 a year.   He had a roommate to help manage expenses, although he supposedly made $564,000 in salary and bonuses in 2014.   However, when he signed his rookie deal last year (2.3 million through 2017), he only received the $144,000 signing bonus, which means if he were not able to play, he did not over extend himself financially, but have money to invest and create a future outside of football.

Imagine if John was not the exception, but the rule.  If all of our professional athletes decided to live well below their means until the money was in the bank.  We would hopefully have a lot less broke athletes.  I understand that some athletes may have additional expenses that they have to consider (families, previous debts), but if this was their mindset to only spend a minor percentage of what they already have in the bank… we could help them create legacy that does not include being broke.

This concept applies to EVERYONE, not just athletes.  We need to start living within our budget and start saving for our future, not spending monies before we make them.  

Hired...Your dream Job

For the last few weeks we have been discussing Parallel Career Metamorphosis (PCM) or the steps to transition from your current job to your dream job. Your last 3 steps were to Rebrand, Expose and Seek. You did such a stellar job at positioning and communicating your brand to the world, that you have been noticed and now it is time for the last three steps - Engage, Except and Exceed

Engage – The world has noticed your brand and now they really want to get to know you so they are calling to speak with you. It is time to prepare for the interview. The interview is the first time that a company will have chance to get to know if you are a perfect fit for them. Your resume has them on the hook, but now they want to know if this resume is creative rhetoric or if you can really do the job.

• Do your research - Before the interview conduct a thorough search on the company and even the person that will be interviewing you. The interviewer wants to know that you have invested time in getting to know their company and this is not just another interview for you.
• Dress the part. Know the culture of the company and make sure that the clothes you wear to the interview match that culture. When I interview for a job at Arista Records years ago… I wore a tan silk suit. It was the music industry and I did not want to be in a blue or black suit, when everyone was dressed in the latest fashion. I not only got compliments on my suit, but I was hired.
• Be Prompt – Always arrive at the meeting location at least 15 minutes before the interview.
• Be attentive – Do not only answer questions that the interviewer is asking you, but also ask questions of them to show you have done your homework and that they are respectfully being interviewed
• Thank you – Don’t just say thank you when you are leaving the interview, but send them a thank you note highlighting some of the things you discussed during the interview.

Except – Congratulations you were offered your dream job, now its time to negotiate for the complete package that you desire. Do your research! It is important that you know the going rate for the job for which you have been offered. If the salary is lower and you want to negotiate for better compensation you have to understand whom you are negotiating with (boss or HR), know the company’s constraints (is this a start up or billion dollar business), understand the big picture (are they offering you other things to make up for the lack in salary) and make sure you know what you are worth.

 Exceed – You have been hired for your dream job, now its time to excel and surpass all of their expectations.  Being the best will enrich your brand and make you more favorable to the company and other onlookers.

 Parallel Career Metamorphosis (PCM) can be a long tedious process, but it will give the opportunity to really get to know you and at the end you will be either working in the job you desired or you will be starting your own company.

Be blessed

A. Mayartis J.