5115 Douglas Fir Rd. – Suite C
Calabasas, CA 91302

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SPORTS & ENTERTAINMENT

HW Premiere Insurance Services

At HW Premier, we have come up with a strategy that will allow the athlete or actor to build his or her own bucket of funds that they can access when they run into financial trouble, without having to use their pension funds or other retirement accounts that have penalties for early withdrawals. This product can also be used to provide disability money when their Disability Insurance runs out or there was not a policy in force. 

The personal finances of professional athletes are so often handled badly that, according to a 2009 Sports Illustrated article, 78% of National Football League players are either bankrupt or in financial trouble within two years of retirement, and an estimated 60% of National Basketball Association players go bankrupt within five years after leaving their sport.] Some even manage to go broke while they are still playing and receiving large salaries. Though the average annual salary of players of the major sports is over $1 million, and for the top stars, in the tens of millions, many athletes are ill-prepared or uninterested in managing their own finances. Only one out of every three professional athletes is focused on the business side of his or her career". Sources of financial problems can include poor investment choices, lavish spending, and reliance on advisers or managers who are unqualified or crooked.

Being an actor is not the easy life it may seem. There are often long periods of financial insecurity between roles. It seems that the more money celebrities have, the more problems they're likely to have with it. An entertainer may see income drop unexpectedly after a canceled TV show, a movie that bombs or a concert tour cut short by a bandmate's illness. Many Actors find themselves taking odd jobs to pay the bills just to survive.