savings

Celebrities savvy with savings

Sports a short-lived profession

Danica Patrick
Indy car racer

Bankrate: Do you ever save for a rainy day, since any sport can be such a tenuous occupation?

Danica Patrick: Absolutely! I know that an athlete's career is not of a normal length and, in general, is relatively short. Hopefully you can be in a situation where you can make good money, you make good decisions with it and you are able to set yourself up for the rest of your life financially. I think one of the lessons my old boss Bobby Rahal taught me was that he said, “Save your money,” because when I retired from racing, I wanted to maintain the same kind of lifestyle that I had when I was doing it. So I knew I needed to start doing some other things, like investing in different areas and making sure that the financial flow would keep coming after you were done.

Lesson learned: If you choose a short-lived, lucrative career, you have to save a lot to maintain your lifestyle in the future.

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