PGA Players Podcast

This year marks the inaugural PGA Tour University class that will have immediate access to the Korn Ferry Tour and Mackenzie Tour. Like with any new system there have been lots of questions, plenty of conflicting thoughts, and some incorrect information swirling, that may influence players decisions whether to turn pro or come back for one more year of college golf. We decided to go straight to the source. Senior Director at the PGA Tour and creator of the PGA Tour University, Brendan von...

Professional Golfers have one of the most unique tax situations of all individuals. We tend to see the same mistakes made over and over when we review new clients previous tax returns. It typically comes down to a lack of knowledge and expertise in how to work with athletes. Your team should be doing everything possible to keep as much money under your control now and minimize your tax liability over the long haul as well. In this episode we will discuss the three most common Mistakes that...

Have you ever wondered why ultra wealthy families invest in private real estate? Why wouldn’t you just buy your own rental property or invest in a public REIT (Real Estate Investment Trust)? How do you even find a quality partner to invest with? What types of real estate investments are out there? As a professional athlete, when would this type of investment make sense for you? In this episode, we talk with experts from two different private real estate firms to get an insider’s guide on...

The stakes are higher on Tour: the competition, the opportunities, the money. With this comes even more of a need for expert advise and planning. As an elite athlete, you NEED and DESERVE to have a team that is built to serve elite athletes. Unfortunately, the existing landscape of financial institutions is built to serve the general public. In this episode we will explore what a wealth management team should be doing for you. You have a unique situation that requires unique solutions. You...

None of us are walking down the fairway bragging about the returns we got last year with an index fund, or the interest we are getting in our bond portfolio. Whether we should or not is another topic. But everyone seems to know someone that knows someone who can get them in on a private deal that is sure to have amazing returns with very little downside. Private investing versus public investing is a very different endeavor. Over the next few episodes we will dive deeper into the types of...

Though tax planning is a year round process, the culmination of tax planning each year is tax filing. Most people are familiar with filing their taxes by April 15th, but what are you doing throughout the year to make sure that you are being as tax-efficient as possible? This week we discuss the different tax documents you will be receiving and what you and your tax team will need to make sure all is accounted for. We go over some of the commonly overlooked items, tax deductions specific to...

The single most important driver of your Net Worth is your physical ability to play golf. If you are hurt or sick and cannot play for an extended period, this has significant impact on your earnings. Not only does it impact your on-course earnings, but it can affect your endorsement deals as well. So why is disability insurance one of the most overlooked parts of players’ financial structures? The Tour has a disability policy for players with certain exempt status. It is meant to help if...

Waste Management Open week is unlike any other on tour. It brings with it all sorts of craziness: sometimes good sometimes bad. This is a good reminder that sometimes things go wrong off the golf course and can potentially have a major impact on your finances if not protected correctly. As an athlete you are a public figure and for all the good that brings, it can also be a target on your back. From minor car accidents, someone getting hurt on your property, to dog bites and parties, if...

Becoming a professional golfer is an exciting time. A ton of hard work, dedication and sacrifice put you in the position to be able to turn pro. Until now, most of what you have had to focus on is ON the golf course. You are now becoming a business, and with that comes OFF the course demands and needs that can take time and focus away from your game. Follow these 5 steps when turning pro to set yourself up for success. The key to maximizing your potential is to eliminate distractions and...

As a professional golfer you have been given an opportunity to lead by example. Many athletes use their platform to lead in different ways. Giving back to charities and foundations can be a big part of leading your community. I highly encourage you to get involved, whether financially, with your time, or both. When making donations, raising funds, or starting a foundation make sure that you know the keys to success and how to maximize your impact. Being strategic with how you donate and are...

As a professional athlete, you are presented with all sorts of investment opportunities. Is buying into an IPO a good idea? What do you need to know before investing in a company that has just gone public? Are you compensated for the added fluctuation in price with higher average returns? Let’s look behind the curtain and understand what risks we are taking that may not be obvious. We will also discuss opportunities to possibly invest in companies before their IPO to increase potential...

Though you travel all over the world during the season, where you spend time in your off weeks can impact your taxes. There can also be a lot of bad advice when it comes to your permanent residence that you might receive that typically does not work and can end up coming back to bite you later. There is also a lot of bad advice out there when it comes to what matters when proving where your state of residence is, that typically does not work and can end up coming back to bite you later. In...

As a professional golfer, tax optimization is one of the most important areas of your wealth to address. While investments are a crucial part of growing your overall net worth, the savings you could see on tax optimization could completely blow out of the water any of your annual investment returns. In this week’s episode, Aaron is joined by Super Bowl champion, 8-year NFL veteran and AWM colleague Zach Miller to discuss some of the strategies for professional athletes to optimize their tax...

One of the first pieces of advice many pro athletes hear, regardless of the sport, is that they should set up an LLC or corporation although the reasons given for doing this can range anywhere on the spectrum of the plausible to absurd. Our job here at the PGA Players’ Podcast is to demystify the amateur advice and instead provide the professional advice you deserve. There are certainly advantages to making this move for the right athlete. Specifically, having an LLC set up can help protect...

With the PGA Tour calendar wrapping up this week and players are heading into the off-season, now is a pivotal time to take advantage of potential tax planning opportunities for this year and dive into financial planning for 2021 and beyond. As you’re setting up your off-season plans with your swing coach, trainer, and on-course team, now is also the time to check in with your wealth management team. You’re making plans to set yourself up for success on the course next season; why not take...

As a professional golfer, your financial situation is complex: you’re in the highest tax bracket, you only receive 1099 income as opposed to W2s, you have a public financial status, and you play and are taxed in multiple countries throughout the year – just to name a few. Your situation is unique, your solution should be, too. That’s the inspiration behind the PGA Players’ Podcast – where each week, former Korn Ferry and PGA Tour golfer turned private wealth advisor, Aaron Goldberg, CFP®...