Sep 03, 2021

NGPF Podcast: Eric Smith on his mission to help student-athletes learn to manage their money

After a successful banking career, Eric Smith combined his financial acumen and his love of sports to his new career in serving student-athletes. As you listen to this podcast, you can just feel the energy and enthusiasm that Eric brings to his workshops. I hope that you enjoy learning about Eric's favorite ways to engage an audience, the most common questions he hears and his take on the new developments surrounding NIL (name, image and likeness), which provides an income stream to "influencer" college athletes. 

Details:

  • 0:00~0:59 Introduction
  • 0:59~2:30 Eric’s background and current work with student-athletes
  • 2:30~6:34 Experience working with the NFL
  • 6:34~10:35 Important lessons Eric covers in his presentations
  • 10:35~15:04 Increased student interest in investing
  • 15:04~15:34 A word from NGPF
  • 15:34~18:19 Making index funds exciting
  • 18:19~26:24 On how NCAA’s NIL rule works and the potential pitfalls for student-athletes
  • 26:24~31:43 The influence the NIL rule has on high school athletes and the need for personal finance education
  • 31:43~32:38 Conclusion

Resources:

Quotes:

  • “I don’t know how it’s [student athletes making money off of their NIL] going to work out. But what I do know is that there is always going to be a need, especially in this landscape, for true personal finance education.”

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Here's a few more NGPF podcasts that you might enjoy with a sports theme: 

 

About the Authors

Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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