One of the most overlooked aspects of being an athlete is financial literacy. Due to athletes’ short career spans, saving money and investing right is paramount because lifestyle rarely gets compromised but money does. Luckily for Drake Maye, his financial investments and saving patterns have been taken care of thanks to his partnership with Betterment.
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Betterment is one of the largest independent digital financial advisors in America with a holding portfolio of $50 billion. The company has always believed in “making people’s lives better” and thus as part of their latest “Pursue Better” campaign, they decided to partner up with four athletes.
The four ambassadors include 4x WNBA All-Star Arike Ogunbowale, soccer World Cup winner Carli Lloyd, golfer Michael Thorbjornsen, and Patriots rookie QB Drake Maye.
As per Maye, the reason why he chose “Betterment” to manage his finances was due to its automated investing platform. This was a game-changer for Drake as he found it “great for someone who wants to focus more on the playbook than the stock market.”
Last but not least, Maye argued that for his holistic growth, success on and off the field was a must. And with Betterment, he ensures his success in the financial management of his life.
“As I focus on pursuing better on and off the field, that includes my financial future. So I am very excited to announce my partnership with Betterment,” said Maye beamingly.
However, what enamored fans was the democratic nature of the tool. With an investment corpus starting from a meager $10, the tool can be used by anyone. And the best part? The tools will be the same for everyone.
Drake Maye Saving Himself From a Bumpy Ride
Selected third overall in this year’s draft, Drake Maye received a bumper contract. The Patriots awarded him with a four-year, $36.6 million contract with a 5th-year option just as any other rookie deal.
For most of us, $36 million is a life-changing sum. But why is there a growing trend among athletes filing for bankruptcy despite such riches? The answer is simple – financial illiteracy and no expense tracking.
This is where companies like “Betterment” are a big help for athletes like Drake as they let the player focus on the field while helping them invest, save, and manage their expenses efficiently. Kim Rosenblum, CMO at Betterment, in his latest presser also cited this as one of the best features of his company.
“Our guiding philosophy has always been to play the long game by making it easy to create a savings and investing plan you can stick with…Similarly, these athletes are focused on their long game. Having a partner like Betterment to take care of their finances allows them to focus on pursuing better today, on and off the field.”
All said, this partnership will now help him focus on making the QB1 position his own which surprisingly has eluded him. With Jacoby Brissett dropped against the Jets, Maye can now fully focus on making the chance count to the fullest.
