NIL & YOU: Building Your Financial Future Beyond the Game

Abiola Wabara
Oct 7
3 min read

Our first GloBall Life webinar explored how athletes can build smart money habits early, why they need two retirements (from sport and later life), and how to vet advisors and NIL deals. Former MLS pros Mikey Ambrose and Mark Bloom (Legacy Capital Advisors) shared practical guidance, with real experiences from Lance Terry (pro basketball), Gary Wiley (SMU football), and Garlon Green (pro basketball).

Watch the recording below

Join GloBall Life (free): https://www.globalllife.com/globallpass

Connect with our advisors:

Follow us: Instagram @globall_life • LinkedIn

Why This Conversation Matters

Money starts showing up earlier than ever for athletes. With NIL, college players can bring in real income—and secure their financial future long before most people get their first paycheck. But income without a plan can vanish fast. That's why we hosted "NIL & YOU"—to help athletes of all levels turn today's opportunities into tomorrow's options.

The Big Ideas

Plan for two retirements. First from sport (the abrupt income drop), then later in life. The first one is often the shock—planning buys you time and options.

Budget = naming every dollar. Enjoy some of it, save some of it, and make a plan for taxes before the bill shows up.

Start early—even small. $50–$100 a month builds real momentum over time. Habits beat hype.

Find your "money middleman." Have a trusted pro validate and manage family/friend offers and business pitches—so you don't have to be the bad guy.

Learn enough to lead. You are the CEO of your brand. Meet your advisor 2–3x per year, ask questions, and sanity-check claims

Compliance matters. NIL deals can still risk eligibility. Loop in your compliance office/AD/coach/agent before accepting any offer.

Athlete Perspectives: Real Talk

Locker room dynamics & NIL: Income gaps can create serious tension. Gary shared stories of teammates making $ while others got nothing—affecting practice attitudes and team chemistry.

Spending spirals are real: "We'd get paid at the end of the month, and a day or two later: 'Man, I've already spent my check,'" Lance recalled some of his teammates saying. Restaurants, cars, lifestyle—it adds up fast without a plan.

Starting young works: Lance is in his first pro season, expecting his first child, living in Spain, traveling, AND investing. "You're still able to live the life you want to live."

Transition mindset: Gary credited SMU's "Life After Ball" program and consistent saving with making his post-college shift smoother. "How you do anything is how you do everything."

How to Pick the Right Advisor/Agent

Trust + proof. Honesty beats promises. If someone guarantees unrealistic returns, that's a red flag.

Education first. Ask for clear explanations of what you own and how it's performed. Don't just hand over control.

No-minimum help exists. Legacy Capital Advisors works with zero minimums to build habits from day one—unlike typical firms requiring $250K-500K.

NIL & Taxes—Non-Negotiables

Plan for taxes upfront. NIL money is typically not taxed at source. Even non-cash perks (like gifts) can be taxable income.

Build the team. Advisor + CPA + (when applicable) agent + university compliance = your core.

Quarterly payments. Consider setting aside tax money and paying quarterly so the April surprise doesn't wipe you out.

For Aspiring Agents and Athlete Advocates (Q&A)

Understand the athlete environment. Pressure, noise, and influence are constant—bring calm and clarity.

Be relentlessly honest. Trust is earned by telling the truth about market value and realistic paths, not overpromising.

Get reps. Internships, mentorships, and asking veterans: "What do you wish you knew sooner?"

Five Actions to Take This Week to Kick of Your Financial Future with NIL or Pro Earnings

Name every dollar: Build a simple budget for your next deposit.
Carve out taxes: Open a separate "tax" bucket and auto-move a percentage.
Start small investing: Automate $50–$100/month—consistency beats timing.
Pick your middleman: Identify the pro who will help manage how you Invest your earnings (HINT- reach out to Mikey and Mark)
Book your check-ins: Put two advisor reviews on your calendar for the next 12 months.

Self Learning

Read books, watch videos and listen to podcasts. Here are some recommended authors and resources you cant go wrong with:

Warren Buffett writings/letters (investing fundamentals)
Dave Ramsey books & budgeting basic
Your phone's stocks app for consistent, low-friction learning
Legacy Capital Advisors for free consultations (no minimum)

What's Next at GloBall Life

Stay tuned for our upcoming events:

November (virtual): Getting Unstuck—navigating identity, purpose, and the "who am I without my sport?" question with our service-provider network.
December (in-person): Our first networking + career fair event with resume checks and employer connections.