We see it all the time. A promising young prodigy signs a lucrative deal, and just years later the money has suddenly vanished. Sport, unfortunately, has become a comfy home to this vicious cycle, where history has seamlessly repeated itself. Fortunately, that’s where Amobi Okugo has stepped in to buck the trend.
The 26-year-old MLS player is still relatively young when it comes to the professional athlete spectrum. Yet given his leisure interests and latest venture, it’s fair to conclude he’s wiser beyond his years. Just last year, he started Frugal Athlete, an online platform that “intends to provide an inside look into the financial playbook and prudent financial tendencies of professional athletes.” The goal is to create positive awareness and share knowledge so athletes, as well as others, can learn and benefit financially.
Okugo has long demonstrated his own frugal nature. As a member of the Portland Timbers, he’s not exactly scratching by from paycheck to paycheck, however, nor is he pocketing millions each season. As such, he’s had to be strategic when it comes to income and how he’ll manage his earnings. As he points out on his site, “A career if you’re lucky will last anywhere from 3-8 years depending on the sport you play…For many of us, we will have to work after our careers are over.”
In keeping this in mind, he’s taken it upon himself to learn the nature of the game. That led him to start up his own site, where he provides interviews, articles, and advice on topics ranging anywhere from taxes to budgets to mortgages. As fans on the outside, it’s hard to always know what kind of decisions athletes face financially. This notion has served as an impetus for Okugo to help others at all levels of wealth “increase financial literacy” and build for a better tomorrow.
Through sharing stories of others and his own, Okugo envisions a day where athletes can better position themselves to retire following athletic careers. As an advocate coming from the sport community, his help could go a long way. It’s a lesson all can learn from, young or old, athlete or fan, wealthy or not. When intentions are planned and assets managed, we can better focus on our passions and reap the rewards.
Written by Athlete CRUSH Staff
Posted 12 May 2017