I posted this on another subreddit, and I was advised by several posters to place it here. So here I am.
My son is a professional football player (soccer in the States) and plays in of the major leagues in Europe.
My son recently broke into the senior team of the club he signed for when he was 15. He used to represent the academy and reserve teams until recently. He signed a very lucrative long term contract with his team and now the vultures have come calling.
We were warned by my son's agent club officials that this would happen. It started with two uncles asking my son for a five figure "loan" in order to begin a business venture, and then aunts and cousins have now started coming out of the woodwork with their own monetary requests. People who didn't really show much interest in him was he was just a 15 year old boy with a dream.
My son showed his father and I the email his uncles sent him. The one requesting a five figure loan. We had a stern talk with the uncles in the aftermath. They accused us of being "stingy and greedy" and that it's our son's money and he can do what he likes with it. We said yes, it's his money and he can choose what he does with it, but that doesn't mean his parents will idly stand by while his uncles attempt to manipulate and swindle him due to the fact they share DNA with our son.
One of the things his father and I emphasized to our son was that sports careers are very short. When he hits his 30s, his physical prowess will begin to decline. At 35/36 it's pretty much over. Most pro players retire around that age. Despite making an enormous amount of money over the course of their careers, you are constantly hearing about former athletes going broke. So it is important he be astute with his earnings. The paydays will dry up one day. Right now he actually lives on a self-imposed monthly stipend, which makes me happy.
This is causing friction in the extended family. Resentment and jealousy seems to be building up and it is something that is affecting my son mentally. He's a wonderful young man and has always been conflict-averse, especially when it comes to family. He values family a lot and the members of the extended family know that, hence why they the uncles were so bold in their approach.
Would appreciate on advice on how to help my son deal with family vultures, along with other financial advice on how he can preserve and add to his fortune so he doesn't end broke like many athletes do after retiring.
Submitted March 13, 2018 at 10:09AM by killercat11 http://ift.tt/2tJtn1z
