WEBVTT NOTE This file was generated by Descript 00:00:19.947 --> 00:00:21.527 Riccardo Stewart: Hey, I want to welcome you guys back to another 00:00:21.537 --> 00:00:24.397 episode of the AWM NFL podcast. 00:00:24.427 --> 00:00:25.627 My name is Ricardo Stewart. 00:00:25.717 --> 00:00:28.657 I'm your host, and I'm joined with my friends, Zach Miller. 00:00:28.657 --> 00:00:29.697 We call him the truth. 00:00:29.977 --> 00:00:31.797 Sam, we call them the mayor. 00:00:31.847 --> 00:00:34.807 And lastly, Jeff Locke, who we call the professor, because 00:00:34.807 --> 00:00:36.357 he's always dropping knowledge. 00:00:36.417 --> 00:00:41.087 And so we get to this point of the year where it's the end of the season. 00:00:41.087 --> 00:00:42.037 All right. 00:00:42.137 --> 00:00:44.747 A couple of guys are still playing maybe for the Superbowl, but 00:00:44.747 --> 00:00:47.887 for the most, most people are they're done and players are done. 00:00:47.887 --> 00:00:51.217 It's been a long year and they got all sorts of things on 00:00:51.217 --> 00:00:52.517 their mind and the off season. 00:00:52.517 --> 00:00:54.297 Am I, where am I going to train? 00:00:54.297 --> 00:00:55.667 Where am I going to go to vacation? 00:00:55.667 --> 00:00:56.577 Am I getting married? 00:00:56.587 --> 00:00:57.567 Did we have a kid? 00:00:57.567 --> 00:01:00.432 There's Ton of things that are happening with NFL players. 00:01:00.672 --> 00:01:02.342 Am I going to play for a different team? 00:01:02.502 --> 00:01:07.162 And with it, you always have to have the appropriate team behind you, guiding you 00:01:07.172 --> 00:01:10.152 in the areas in which you want to go, just kind of navigating you on these things. 00:01:10.152 --> 00:01:16.082 And so we have experienced financial, uh, advisors here that work for a family 00:01:16.082 --> 00:01:17.962 office, as well as experience in the NFL. 00:01:17.962 --> 00:01:21.482 And so I want to lean on you guys as always to get some of your, your insight. 00:01:21.792 --> 00:01:26.207 So for you, Sam, when you were getting done with the season as a player, What 00:01:26.207 --> 00:01:29.037 were some of the things that you were looking forward to in the offseason? 00:01:29.037 --> 00:01:29.047 I 00:01:30.427 --> 00:01:31.207 Sam Acho: there were two phases. 00:01:31.207 --> 00:01:34.567 I think the first phase was when I was a rookie, I was looking forward 00:01:34.567 --> 00:01:36.067 just to having some time to breathe. 00:01:36.067 --> 00:01:36.907 And what do I mean by that? 00:01:36.907 --> 00:01:39.837 For all the rookies who are in this situation, you understand 00:01:39.837 --> 00:01:43.267 that you've been grinding for essentially the last 18 months. 00:01:43.527 --> 00:01:47.347 So going into your senior year before your junior year, or maybe you came out as a 00:01:47.347 --> 00:01:50.967 junior, you were grinding that off season and you've gotten to your last year in 00:01:50.967 --> 00:01:53.547 college, whatever year that was, retired, sophomore, junior, whatever it is. 00:01:53.997 --> 00:01:54.227 Right. 00:01:54.227 --> 00:01:57.247 Six year, you were grinding and then all of a sudden you were training for the 00:01:57.247 --> 00:02:00.677 NFL combine and training for the senior bowl, or maybe the East West ride game 00:02:00.677 --> 00:02:04.247 and training for the draft, then you get there early as a rookie to training 00:02:04.247 --> 00:02:06.087 camp and OTAs and a rookie mini camp. 00:02:06.287 --> 00:02:08.917 And then you get to the preseason and the regular season, and maybe even the 00:02:08.917 --> 00:02:11.317 play, you've been, it's a lot, it's a lot. 00:02:12.277 --> 00:02:15.697 And so for me, it was just an ability to, 00:02:18.107 --> 00:02:21.667 to breathe as a rookie, maybe first, second year player. 00:02:22.257 --> 00:02:26.332 And then when I got married and started having kids, It was an ability. 00:02:26.412 --> 00:02:29.452 I was looking forward to the opportunity to reconnect with my family. 00:02:29.452 --> 00:02:30.442 And what do I mean by that? 00:02:30.452 --> 00:02:32.682 No, it wasn't like I was just completely disconnected. 00:02:33.052 --> 00:02:36.072 But as we all know, when you're going through regular season, you have your 00:02:36.072 --> 00:02:37.422 routines and you have your rhythms. 00:02:37.422 --> 00:02:38.652 We go through a lot of tradeoffs. 00:02:38.992 --> 00:02:41.782 Thursday nights oftentimes were spent with the teams, with the 00:02:41.782 --> 00:02:44.482 fellas at a defensive dinner, at a restaurant or at someone's house. 00:02:44.822 --> 00:02:48.622 Fridays were oftentimes traveling or maybe Saturdays, depending on where the game is. 00:02:49.132 --> 00:02:52.632 Game on Sunday, back on Monday, during your rehab, you're in the 00:02:52.632 --> 00:02:55.702 facility, maybe off on Tuesday, you're there on Wednesday, all the way to 00:02:55.702 --> 00:02:57.242 maybe six or five 30, depending. 00:02:57.542 --> 00:02:59.572 So just a chance to reconnect. 00:02:59.572 --> 00:03:03.872 And so for me, what I look forward to the most as a younger player, 00:03:03.872 --> 00:03:07.182 and even as a veteran player was a chance for reprieve, like 00:03:09.532 --> 00:03:12.802 to rest, but also to reconnect. 00:03:13.532 --> 00:03:13.677 Jeff Locke: Heh heh. 00:03:14.432 --> 00:03:16.502 Riccardo Stewart: just kind of feel like, you know what, let's 00:03:16.612 --> 00:03:18.372 just shut this down and just rest. 00:03:18.402 --> 00:03:19.352 I like that, Sam. 00:03:19.902 --> 00:03:24.222 So, transitioning to a less zen version of Sam, Zach. 00:03:26.082 --> 00:03:28.702 are some of the things that, I mean, I know what you were thinking about 00:03:29.072 --> 00:03:31.862 the younger version of Zach, and I can only imagine the married version of 00:03:31.862 --> 00:03:35.492 Zach, you know, going on vacations, but what were some of the things 00:03:35.492 --> 00:03:41.182 that players aren't thinking about in the offseason, but they should be? 00:03:43.679 --> 00:03:47.709 Zach Miller: I think, I think what Sam said and decompressing, you 00:03:47.709 --> 00:03:51.229 have to do that as a player and you have to take care of your body. 00:03:51.229 --> 00:03:55.169 Like, there's going to be injuries that are nagging. 00:03:55.199 --> 00:03:58.229 And if you don't take care of them in the offseason, they will keep 00:03:58.239 --> 00:03:59.799 showing up throughout your career. 00:03:59.819 --> 00:04:03.814 And so, you If it, if that means an off season surgery, get it taken care of 00:04:03.824 --> 00:04:07.014 before you get closer to the regular season, before you report to camp, 00:04:07.024 --> 00:04:11.734 those types of things, handle that stuff early, get second opinions, um, 00:04:12.924 --> 00:04:17.464 really understand like the mental part of it is where you got to like put that 00:04:17.464 --> 00:04:21.404 season to bed, but take something away from it, whatever you learn from it, 00:04:21.424 --> 00:04:26.094 whatever didn't work for you, whatever you think, like start, it's early. 00:04:26.349 --> 00:04:27.749 And you, you don't have to do it right away. 00:04:27.749 --> 00:04:31.729 You can take, take a month, take a couple of months to yourself, but start having 00:04:31.729 --> 00:04:35.639 a strategy, a plan for where you're going to work out before you go back to the 00:04:35.639 --> 00:04:40.429 team stuff, where you're going to work out before you go to in between OTAs and 00:04:40.449 --> 00:04:43.839 training camp, what you're going to be doing there and start to plan that out. 00:04:43.839 --> 00:04:45.829 Start to book if you're going to be in a different city. 00:04:46.199 --> 00:04:51.499 Go into a facility, book those places out, um, get the plan set in place to where 00:04:51.499 --> 00:04:55.469 you're like, this is what I'm going to do so that I can achieve this next season. 00:04:55.709 --> 00:04:58.319 If you want to be a pro bowler, that actually starts now. 00:04:58.669 --> 00:05:02.889 And as much as you can, like nutrition, diet, all those things. 00:05:03.079 --> 00:05:07.189 When I got in my best football shape, I did it during the off season. 00:05:07.189 --> 00:05:11.509 Cause during the season, it's a struggle just to get your body right week to week. 00:05:11.509 --> 00:05:13.209 You don't, you can't always set those things up. 00:05:13.459 --> 00:05:15.159 So having that plan when it comes to. 00:05:15.519 --> 00:05:20.159 nutrition, uh, you know, your, your physical shape, getting that 00:05:20.179 --> 00:05:22.289 in place as soon as possible. 00:05:22.289 --> 00:05:25.649 Once you've kind of decompressed a little bit, because it's easier to stay 00:05:25.649 --> 00:05:29.119 in shape than get out of shape and then have to get back into football shape. 00:05:29.339 --> 00:05:32.659 So yeah, take some time, rehab those injuries, but stay in 00:05:32.659 --> 00:05:36.149 that kind of football shape so that you're ready to go in OTAs. 00:05:36.159 --> 00:05:40.849 You're ready to go for training camp because the off season goes by so fast. 00:05:41.314 --> 00:05:44.244 I mean, you could go on those trips, but before you know it, you're 00:05:44.244 --> 00:05:48.654 already back reporting to your team, doing your beginning physicals. 00:05:48.674 --> 00:05:49.984 And it happens so quick. 00:05:50.164 --> 00:05:51.444 You don't have that plan. 00:05:51.644 --> 00:05:52.224 You're kind of gone. 00:05:52.284 --> 00:05:53.474 You're going to be behind everyone else. 00:05:53.534 --> 00:05:57.664 Everyone else is starting to do that more and more and, and take care of 00:05:57.664 --> 00:05:59.024 their bodies even that much better. 00:06:00.157 --> 00:06:05.017 Riccardo Stewart: So it's important for us as family office advisors to make 00:06:05.017 --> 00:06:09.577 sure that we tap in with all of our, our NFL players in a post season meeting. 00:06:10.137 --> 00:06:12.477 And most people have no idea what a post season meeting is. 00:06:12.487 --> 00:06:13.737 They'd never done one before. 00:06:14.097 --> 00:06:17.157 So Jeff, would you explain like what that meeting is, the purpose of it 00:06:17.157 --> 00:06:20.327 and exactly what are we trying to do and accomplish in those meetings? 00:06:21.457 --> 00:06:23.847 Jeff Locke: Yeah, so these are really some of the biggest meetings of the year 00:06:23.847 --> 00:06:29.387 that we have with our clients, and it's really part look back at the prior year 00:06:29.397 --> 00:06:34.327 and part look forward at this year and future years of what we want to get done. 00:06:34.517 --> 00:06:35.507 So on the look back side. 00:06:36.087 --> 00:06:37.187 We're looking back at spend. 00:06:37.377 --> 00:06:39.777 How much did I spend and what did I spend on? 00:06:40.227 --> 00:06:43.817 Okay, we're looking back at income and we're looking back at taxes. 00:06:43.847 --> 00:06:45.027 How much did I pay in taxes? 00:06:45.107 --> 00:06:49.087 And those data points give us, hey, what does 2025 look like? 00:06:49.157 --> 00:06:51.537 What am I going to owe in taxes in April? 00:06:51.927 --> 00:06:53.027 And how has that changed? 00:06:53.367 --> 00:06:57.347 What investments are I in and what investments am I in and why? 00:06:57.707 --> 00:07:00.337 Um, and you guys all kind of hit on it in different ways. 00:07:00.347 --> 00:07:04.647 But like what priorities and goals do I have and have they changed? 00:07:04.807 --> 00:07:07.937 Cause your priorities and goals are going to lead exactly 00:07:07.937 --> 00:07:09.077 how you should be invested. 00:07:09.077 --> 00:07:09.797 So we got to know. 00:07:10.327 --> 00:07:11.627 What are the plans for the off season? 00:07:11.657 --> 00:07:12.547 Where you gonna be? 00:07:12.557 --> 00:07:13.717 What trip do you got planned? 00:07:13.717 --> 00:07:14.657 How have things changed? 00:07:14.667 --> 00:07:15.737 You getting married soon? 00:07:15.747 --> 00:07:18.247 We doing the engagement ring sooner than we thought? 00:07:18.587 --> 00:07:20.837 All those little things we gotta know about. 00:07:21.107 --> 00:07:24.277 And then there's just a bunch of logistics and clean up. 00:07:24.337 --> 00:07:26.347 Making sure everything is protected. 00:07:26.367 --> 00:07:29.507 We're talking insurance, we're talking trust, we're talking LLCs. 00:07:30.062 --> 00:07:32.192 Making sure all those things are getting taken care of. 00:07:32.672 --> 00:07:36.112 And one of the coolest things we do that we think our clients really love is we can 00:07:36.112 --> 00:07:41.052 actually look at all this data and then say, Hey, if you keep spending this way. 00:07:41.452 --> 00:07:46.932 Here's how long your money can last, or here's how much you need to earn 00:07:46.992 --> 00:07:51.232 going forward to really sustain the lifestyle you've already started or 00:07:51.232 --> 00:07:52.512 what adjustments you need to make. 00:07:52.622 --> 00:07:55.632 Cause we'll never, ever be the spending police. 00:07:55.862 --> 00:07:58.862 You don't ever want your team being those people, but we're going to tell you the 00:07:58.862 --> 00:08:03.052 trade offs that come with spending or changing your lifestyle in certain ways. 00:08:04.752 --> 00:08:09.957 Riccardo Stewart: Sam, what was something you wish your advisor would have talked to 00:08:09.957 --> 00:08:12.737 you about post season, but maybe didn't? 00:08:13.152 --> 00:08:14.534 Sam Acho: They have a day in that kind of football shape so that you're ready to go. 00:08:14.534 --> 00:08:15.484 So if you're already back, it's really important that they know 00:08:15.484 --> 00:08:16.089 that they have the ball to beat. 00:08:16.089 --> 00:08:16.175 Yeah. 00:08:16.175 --> 00:08:16.262 Yeah. 00:08:16.262 --> 00:08:20.177 I wish they would have known how the pay structure in the NFL worked 00:08:20.837 --> 00:08:24.007 because it would have saved me from a whole bunch of headaches. 00:08:24.557 --> 00:08:25.497 What do I mean by that? 00:08:25.497 --> 00:08:26.947 So back when I was playing. 00:08:27.417 --> 00:08:30.327 We would get paid every week during the season. 00:08:30.917 --> 00:08:34.597 So it was a 16 game season, a 17 week season. 00:08:34.947 --> 00:08:39.127 And so I would get cheques every week and there were big cheques right? 00:08:39.127 --> 00:08:41.197 Because it was only for 17 weeks. 00:08:41.877 --> 00:08:45.597 And I would live as if those cheques were going to come for 52 weeks as in 00:08:45.597 --> 00:08:47.657 the rest of the year, but they weren't. 00:08:48.197 --> 00:08:50.837 And mind you, I wasn't ever a big spender or I never kind of, I don't 00:08:50.837 --> 00:08:53.237 think I was really wasteful with my money, but I was one of these guys 00:08:53.297 --> 00:08:54.407 like Jeff was talking about where. 00:08:54.822 --> 00:08:58.062 I was planning a wedding and you know, I was excited about the wedding and 00:08:58.062 --> 00:08:59.102 the honeymoon and all these things. 00:08:59.102 --> 00:09:02.492 All of a sudden get married, do all in the off season, right? 00:09:02.492 --> 00:09:04.262 Do all that stuff and we'll take our honeymoon, whatever. 00:09:04.262 --> 00:09:05.532 And I'm looking back at my account. 00:09:05.542 --> 00:09:08.092 I'm like, hold on, where why is the money going out? 00:09:08.092 --> 00:09:09.172 No more money's coming in. 00:09:09.682 --> 00:09:11.632 And yes, I thought I was a good planner, but it was just different. 00:09:11.642 --> 00:09:14.452 They didn't understand that at that time the NFL pay schedule 00:09:14.452 --> 00:09:16.292 was a 17 week pay schedule. 00:09:16.292 --> 00:09:17.902 Well now, and that wasn't for every team. 00:09:17.952 --> 00:09:20.452 That was just for probably 90 percent of the teams. 00:09:20.642 --> 00:09:23.512 Well, as Zach and I, we were both part of the NFL PA. 00:09:23.512 --> 00:09:25.982 There were some conversations with NFL PA that said, Hey, what if we change 00:09:25.982 --> 00:09:29.962 that to instead of a 17 week, maybe a 30, uh, 34 week, or now there's an 00:09:29.982 --> 00:09:31.972 18 game schedule, 36 week schedule. 00:09:32.262 --> 00:09:35.092 And so there are certain changes that are happening when it comes 00:09:35.092 --> 00:09:37.002 to how those checks are received. 00:09:37.282 --> 00:09:40.552 And when I'm getting paid, we talk about the five skill sets of being a 00:09:40.552 --> 00:09:42.282 pro building, multi generational wealth. 00:09:42.532 --> 00:09:44.142 One of them is winning the cashflow game. 00:09:44.542 --> 00:09:49.262 And so I wish my advisor would have known how that cashflow game works, specific. 00:09:49.777 --> 00:09:54.087 Specifically to the NFL, NFL players, so that I would have, I would have 00:09:54.777 --> 00:09:58.547 at least had the information to make a more informed decision. 00:09:58.547 --> 00:10:01.077 Mind you, I was young, I thought I was good, I was doing my own thing 00:10:01.077 --> 00:10:02.537 and, and I ended up being okay. 00:10:02.777 --> 00:10:06.597 But it was just some extra pressure that I wasn't expecting because they didn't have 00:10:06.597 --> 00:10:10.587 the knowledge to be able to implement the goals that I had for me and my family. 00:10:12.477 --> 00:10:16.517 Riccardo Stewart: Jeff, I'm thinking of, well, I want to hear your planning 00:10:16.517 --> 00:10:21.927 process for a player who may be about to enter a big contract, right? 00:10:21.947 --> 00:10:25.877 This offseason, um, as opposed to a player that may be contemplating 00:10:25.877 --> 00:10:29.647 retirement or maybe possibly finding another team for one more year. 00:10:29.647 --> 00:10:30.657 Is there a different process? 00:10:30.727 --> 00:10:31.697 And if so, what is that? 00:10:32.822 --> 00:10:34.602 Jeff Locke: Yeah, the processes are very different. 00:10:34.722 --> 00:10:38.772 So when you're coming up on a big contract, that life changing money, second 00:10:38.772 --> 00:10:41.532 or third deal, you got to get stuff ready. 00:10:41.552 --> 00:10:45.482 So right when you put your name on the dotted line, things are already 00:10:45.482 --> 00:10:47.312 moving or you're too late, right? 00:10:47.312 --> 00:10:48.722 We're talking residency planning. 00:10:48.892 --> 00:10:52.872 Where am I going to live so I can pay the least in taxes on some of my income? 00:10:53.272 --> 00:10:54.712 We're talking about privacy protection. 00:10:54.772 --> 00:10:57.472 You're about to be an even bigger name than you already are. 00:10:57.737 --> 00:10:59.727 We got to make sure all your stuff is buttoned up. 00:11:00.237 --> 00:11:03.867 So those fans can't come find you in the future. 00:11:04.137 --> 00:11:10.167 Um, tax wise and then insurance wise, a lot of people don't know this, but 00:11:10.177 --> 00:11:12.667 you're going to have an insurance situation where you've got to go and 00:11:12.667 --> 00:11:16.927 get a bunch of life insurance to help cover for a tax bill in the future and 00:11:16.927 --> 00:11:20.237 your new team is going to be competing for the same life insurance policies. 00:11:20.297 --> 00:11:23.687 So you got to go and actually make moves before the team does that 00:11:23.687 --> 00:11:27.487 signs you, or you're going to have to pay double or triple for the 00:11:27.487 --> 00:11:28.787 insurance that you actually need. 00:11:29.267 --> 00:11:31.237 So these are all little things you've got to be thinking about now. 00:11:31.792 --> 00:11:37.642 Before that ink gets dry and then for guys transitioning out, it's 00:11:37.642 --> 00:11:43.132 one of the, I mean, Zach, Sam, you can agree with me here or disagree. 00:11:43.132 --> 00:11:46.332 Like it's one of the weirdest moments in your life of like when you're changing 00:11:46.342 --> 00:11:49.402 from being a pro athlete to not. 00:11:49.962 --> 00:11:55.572 And the one thing that you got to know is like, Hey, do I have the money 00:11:55.582 --> 00:11:57.202 set aside I need to transition out? 00:11:57.352 --> 00:11:58.822 Like when is my severance coming in? 00:11:59.142 --> 00:11:59.912 That's going to help me. 00:11:59.912 --> 00:12:02.452 What NFL benefits do I have access to that are going to help 00:12:02.452 --> 00:12:04.442 me the next three to five years. 00:12:04.757 --> 00:12:09.127 As I move on to my next career, because the one consistent thing is 00:12:09.707 --> 00:12:12.397 it always takes longer to transition into your next career than you actually 00:12:12.407 --> 00:12:15.287 think it's going to, going to take, and it's going to take more money to 00:12:15.287 --> 00:12:19.107 transition than you ever thought it would for you to support your family. 00:12:20.057 --> 00:12:22.247 Riccardo Stewart: This is really helpful because when I think about the 00:12:22.247 --> 00:12:25.547 offseason, we don't naturally think about the things that you guys mentioned 00:12:25.797 --> 00:12:28.817 as an NFL player, to be thinking about Zach, where are you going to train? 00:12:29.302 --> 00:12:31.102 Where are you going to train in between your training? 00:12:31.212 --> 00:12:32.042 What are you going to eat? 00:12:32.302 --> 00:12:36.192 Sam, making sure your advisor is talking about cash flow and in the pay structure. 00:12:36.402 --> 00:12:37.912 How are things actually structured? 00:12:38.322 --> 00:12:42.812 Am I coming across life, not just enhancing money, that was you getting 00:12:42.812 --> 00:12:46.592 in the draft, but life truly changing money, second and third contract. 00:12:46.712 --> 00:12:48.002 And how do I plan for that? 00:12:48.052 --> 00:12:49.532 As to how do I plan for retirement? 00:12:49.912 --> 00:12:51.592 So yeah, there's going to be the boat trips. 00:12:51.592 --> 00:12:51.882 Yeah. 00:12:51.882 --> 00:12:53.062 There's going to be the vacation. 00:12:53.062 --> 00:12:53.262 Yeah. 00:12:53.262 --> 00:12:55.692 There's going to be a lot, but there's so many other things that are 00:12:55.692 --> 00:12:57.032 massively important for your life. 00:12:57.032 --> 00:13:00.432 And so if you have any questions to the things that were mentioned today and 00:13:00.432 --> 00:13:04.262 today's podcast, you got, um, uh, maybe you want some more resources on that. 00:13:04.262 --> 00:13:05.352 Please reach out to us. 00:13:05.382 --> 00:13:08.782 Our number is 602 989 5022. 00:13:22.202 --> 00:13:25.092 I don't know why I'm doing this.