Top 5 Lessons from Sports on How to Be Better With Money

Alright sports fans, listen up! Dr. James Turner has been listening to more than his share of SportsCenter, and believe it or not, he’s learned a thing or two about how to be better with money in the process.

You see, the keys to success that apply to one discipline often translate to numerous other endeavors. Today, you’ll learn from a few other sports figures as we apply lessons they teach to our own money management.

Top 5 Lessons from Sports on How to Be Better With Money

Arrow

Offense sells tickets. Defense wins championships.” A high income may make for a good offense, but frugality wins in the game of personal finance.

1. Defense Wins Championships

You drive for show, but putt for dough.”  We can talk about investing with a tilt towards certain small and value asset classes, algorithm based investing, tax-loss harvesting, and backdoor Roth IRA’s.

2. Putt for Dough

"Hard work beats talent when talent doesn’t work hard." We need to stop living paycheck to paycheck with the assumption that our talents will always result in a high paying job.

3. Hard Work Beats Talent

To succeed…You need to find something to hold on to, something to motivate you, something to inspire you.” Once you’ve outlined the goals and the reason behind them, we can hold onto that motivation to accomplish our goals.

4. Know Your “Why”

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