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We can learn plenty of financial lessons from the behavior of professional athletes. But pro teams also do plenty of things that offer financial lessons on saving, spending and investing.
For instance, when teams sign players to lucrative, long-term contracts, they’re making long-term investments. But those investments require trade-offs, similar to the trade-offs we all make when we do financial planning.
Teams also spend a lot of money to try to win right away. That’s similar to how people make high-risk investments because there’s a slim chance of a quick payoff.
The following slides detail some of the takeaways from those kinds of moves that you can apply to your own finances. Following these financial lessons won’t win you a shiny trophy and a championship parade; you’ll have to settle for financial stability.
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