for your career
Most athletes don’t just turn up on game day and hope for the best. They have a dream, set themselves a goal – and put in place a plan to succeed on game day. These same steps when applied to your financial position can have a similar outcome in providing financial freedom.
You have significant earnings potential and wealth accumulation ability early in your life, though you are generally faced with the challenges of a limited career timeframe. Your ability to generate wealth early is unique from the general population whom progressively increase their earnings capacity as they approach retirement. This exclusive situation provides a substantial advantage to you to establish financial security and freedom for yourself and your family.
No matter the phase of your career you are entering; whether that is signing your first contract, or looking towards your post sport retirement life, we can assist you on the journey to provide clarity as to your next step.
At Vincents our team of specialists are here to ensure your finances are taken care of. We have a specialised wealth management service providing advice to elite athletes given your unique circumstances. We understand the distinctive life events and challenges you face throughout your career.
To achieve the ultimate outcome for you, Vincents takes a holistic approach to ensure all aspects of your individual strategies are aligned with your goals and objectives. This is accomplished through the integration of all advice services.
Our team of Financial advisors, Investments Managers and Specialised Accountants working along side each other at Vincents to ensure your wealth creation through to taxation needs are managed in your best interests. We also encourage the introduction and open communication with all other professional advisors such as your Manager and Solicitor.
Elite athletes are driven by the desire to be the best within their chosen sport and to outperform all competition. This is achieved by setting goals, working hard to achieve these targets and then adjusting the benchmark to reach excellence. This same approach should be applied outside the sporting arena. Our advisors work alongside you to set short, medium and long term financial and non-financial goals and then map the path to achieving these.
Budgeting and cash flow management can be one of the most important aspects for ensuring your wealth accumulates and is there for you post-career and into retirement. Opinions from peers, friends or even society’s expectations of how high performing athletes lifestyles should look can place undue pressure on athletes to maintain unsustainable spending habits.
Our objective is to make your life as comfortable and enjoyable as YOU desire but managed within the financial targets which continue to generate wealth accumulation.
There are two significant events which will result in a big change in your daily life. The first is the point in time when you choose to transition from the sporting arena and into a professional workplace roll, and the second is upon retirement from the workforce.
Our advisors can help in planning for these events today, provide clarity around your future financial position and also assist with navigating the challenges faced when the time comes. Planning for these events now and throughout your playing career is pivotal to ensure you can enjoy a comfortable transition out of sport and into retirement.
Our aim is to grow your wealth to generate a consistent reliable income stream that supplements your new professional career or retirement lifestyle.
As an elite athlete you earn a significant amount of wealth early in your lifetime with the majority of wealth usually accumulated before the age of 35. Your ability to utilise and invest these earnings appropriately will have significant long term benefits and impact on your post-sport lifestyle.
Our advisors take a holistic approach to your investment objectives to ensure your risk tolerance and short and long term personal financial goals are aligned with our investment recommendations.
Elite athletes have rigorous schedules and understandably the time burden to manage and comprehend ‘all things finance’ can mean your finances can take a back seat to your sporting career. Our aim is to remove the complexities, provide you with clarity surrounding your wealth, and ensure you maintain a healthy understanding of your financial strategies.
We are aware of the demanding nature of elite sport and the effects it can have on your body, though have you considered the impact an unrecoverable injury would have on your sporting career. Your earning potential is knowingly linked to your ability to consistently perform at the highest level, and an injury can have a significant negative impact on your ability to accumulate wealth.
The uncertainty surrounding your earning potential due to injury can be adequately protected through appropriate levels of insurance cover and provide you with peace of mind. By taking proactive step towards gaining the necessary insurance cover you can be reassured that you are protected in the worse case scenarios.
Let us take the hassle out of compliance for you and benefit from our knowledge of the unique tax environment that Australian semi-professional and professional athletes operate in.
We will work with you to help reduce your yearly tax payable (i.e. the amount paid to the Australian Taxation Office (ATO)). We take into account tax concessions, offsets and deductions which may be available to Australian athletes, whilst ensuring compliance with Australian taxation law. We also pay close attention to taxable income, tax payable, individual tax rates, special professional income averaging, common deductions, overseas income, salary sacrificing and fringe benefit tax specific to athletes.
In a financial market saturated with banks, financial institutions and their various offerings, searching for a suitable finance option for you and your circumstances can often be drawn out, frustrating and costly. You need a lending solution that aligns all your financial touch points under the one roof and is secured with your best interests in mind.
Download your FREE copy of our Advice for Professional Athletes Booklet
Download your FREE copy of our Income Averaging for Special Professionals Booklet
What will you walk away with?
We all hope for your long and rewarding playing career but the time will come when competing at the highest level will no longer be an option. Your goals will change along with your personal objectives, and you may need to pursue alternative career opportunities. Putting in place a plan today will provide financial security for your future.
At Vincents your team of professionals including advisors, Investment Managers and specialised Accountants all work collectively for one outcome… “to provide you clarity when you need it most.” So whether you are looking to understand your financial position today or working towards financial freedom in the future, we will strive to realise your goals whatever they may be. The greatest results will be achieved when you communicate your dream, set measurable goals and together we develop an actionable plan for your financial future.