by John Darer CLU ChFC MSSC CeFT RSP CLTC
Allen Iverson knows how to play basketball. He also knew how to spend and spend he did. Iverson was among the biggest superstars in the NBA, an 11 time NBA All-Star (2000–2010) earning more than $154 million during a professional career that began back in 1996 (not including endorsement money and other business deals). According to a February 14, 2012 article, he was having trouble paying his bills.
How did Iverson lose so much?
Loyal to his friends from a youth spent in Virginia, Iverson traveled with one of the biggest posses in professional sports Read the rest of the story in Allen Iverson Has No Answer For Financial Woes The Post Game February 14, 2012
Let's talk about a" three point play" for basketball players like Allen Iverson.
By structuring endorsement fees, professional athletes and other celebrities can help mitigate the over spending problem and provide a stable foundation of income backed by a Fortune 100 insurance Company. This can help you stroke that ball for the long haul.
If you receive fees from product or service endorsements, or represent someone who does, have you considered structuring the income? If that endorsement fee otherwise represents taxable income that you're not going to spend this year, consider a non qualified structured settlement. This should be of interest to movie and television celebrities, athletes, executives and CFOs at companies who hire celebrities to endorse their products, producers and contest sponsors, agents and CPAs
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