Youth Sports Financial Management
Youth sports can cost parents as little as $100 a month, or as much as $2,000 or more each month, according to a survey by TD Ameritrade. As children grow and flourish in their sport(s) of choice, the cost of participating in sports can skyrocket. There are participation fees, training, travel costs, equipment, and other finances involved with kids playing sports, which can strain families financially.
JG Wealth Management helps ease the financial burden of participation on the individual and organizational levels by working closely with boards of directors, treasurers and other interested parties in the areas of finance.
Our philosophical approach is proactive rather than reactive. Below are some of our points of emphasis when working with various organizations:
One of our most substantial goals is to develop self-sustaining programs where the income generated covers annual operating costs.
- Start laying the foundation for all the children in the family—where the older children might be aging out, the younger ones might just be getting started.
- Our financial planning services for youth sports organizations can help reduce or eliminate the financial burden of increased opportunities for athletes.
|2018 Inflation Rate||1.9%|
|Projected 2019 Inflation Rate||2.0%|
|Average Money Market Account Interest Rate||0.08%|
|Average Savings Account Annual Interest Rate||0.06%|
|Average Checking Account Interest Rate||0.04%|
|JGWM Conservative Portfolio 3 Year Avg Return||4.46%|
|JGWM Moderate Portfolio 3 Year Avg Return||7.42%|
As shown, these rates of return (savings & money market accounts) do not keep pace with inflation which means many accounts ultimately lose value. The table above shows average interest rates of savings & money market accounts as well as the three-year average returns for some of the JG Wealth Management portfolios.