Zach MacMath: Get Invested in Your Investing
Q:What advice would you have for athletes looking to invest in businesses?
A: Just be patient. You don't have to invest your money or time in high risk situations. Putting your money in a safe investment account that will gradually makes you money over tens of years, rather than weeks or months, is what I recommend. The best thing an athlete can do with their money is to actually save it! Keeping a smart budget, saving the most money possible and investing the savings, will make you enough mone in the long run where you won't have to stress about it.
Q: How do you as an athlete stay focused on your career while also taking time to focus on your post-career aspirations?
A: I try not to stress about my post-career aspirations while playing because I want to enjoy every day I get the chance to play soccer instead of actually going to work. Networking and taking the time to talk to people you meet throughout your career is some of the most useful advice I can give anyone. Whether you decide you want to coach, go into accounting, or start your own business, listening and learning from other people's experiences can be very beneficial in terms of figuring out what might be next for you after you're done playing.
Q: What do you look for when you are investing?
A: Is it for me? This is the biggest question I ask when looking to invest in something. There are always going to be things to invest in. Start-ups, restaurants, family ideas, friends' ideas, but the biggest question I ask myself "is this for me?" Do I want to be apart of this long-term? Most things you invest in, you should care about it, but also you should be ready to lose every penny that you put in. Just like in soccer, you're going to make some mistakes investing, some will be more costly then others and that's okay, as long as you learn from it and use that knowledge going forward.
Q:What are some rules you live by when it comes to being prudent financially?
A: Buy what you can afford! A dollar saved is a dollar earned! Stay out of debt!