The average employee in the United States will work 35-40 years, earning lifetime income between $1.5 and $3 million US. Most will enjoy peak earnings in the five years preceding retirement.

The average professional athlete will play seven to 17 years (depending on the sport) and earn between $5 and $25 million US, with 70 to 90% of it earned before the age of 35.

In hockey, for example, the average NHL career is 5.5 years; a precarious number with the threat of that career ending “on the next
play” a very real one. Additionally, there is a staggering statistic of an approximate 70% chance that a player will file for bankruptcy or face serious financial pressure within five years of retiring from the game.

During this evening’s presentation, fellow WWEPC member Rick Weiss, BA, PFP, TEP, CSE, will share his expertise in providing financial counsel to professional athletes, entertainers and their families. He will discuss why it is important to work with the athlete, their families, their agents, and a host of colleagues associated with the professional athlete to create and adhere to a proven process of various elements including the estate plan: will planning, attorneys for the power of attorney planning, risk management, digital asset management, trust planning, etc. In many instances, these plans cross jurisdictional boundaries, sometimes several different countries,
and planning regimes for the same client.

Rick will explain how, at the end of the estate planning journey, they end up with a set of documents that, combined with the overall portfolio of the client’s business, form the basis for annual reviews and continuing life assessment throughout the period of their
relationship.

If you are interested in attending, please email Val at wwepc.canada@gmail.com to have the Zoom link sent to you.