Would you support your adult children for doing this?
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Anonymous
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My DH came to the US as a poor immigrant from Eastern Europe, and became successful financially. He was a very good athlete when he was young but did not have the opportunity to make his dream come true because of the financial situation in his family. Our DS is an athlete at a D1 school, and he will graduate in a few weeks. He wants to play professionally, but it will cost about $80K per year for travel, coaching, and accommodation. DS says he wants to do this for three years before working at a real job. My DS is very good but not at the professional level. We do have the financial means to support DS. My DH is so excited about this and is willing to support DS for the next three years because he didn't have that chance growing up. DH wants DS to experience what he missed growing up in Eastern Europe.
For me, I am not so sure. WWYD? |
Anonymous
| No, that’s not professional sports and absurd. Sounds like a scam. |
Anonymous
I’m not an expert but that certainly could be the case for tennis or golf (and perhaps other sports). The costs aren’t a one off payment to a group (eg a scam) just the cost for travel etc…obviously the goal would be to earn far more so the 80k is negligible business expenses |
Anonymous
| Maybe take it year by year…perhaps it has benefits for networking or future unrelated career goals. I could see certain industries promoting this (John Adams, an associate in our Boston office was on the PGA tour for 2 years before joining us)… |
Anonymous
| If you truly have the means to do it and your husband and child want to do it, why wouldn’t you give them this gift? Life is a grind and you have the rest of your life to work. Why not let your kid live his dream? And your husband worked very hard to give this to your kid. I was raised LMC and we are very wealthy. But I can be frugal; I don’t waste money on clothes, cars, or luxury items. I wouldn’t think twice about saying yes to this. (Again we have plenty of money to spare, so 80k wouldn’t be an issue. This is only thing that would hold me back.) |
Anonymous
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Nope! By the end of 4 years at a D1 School, you have an idea if they have a shot. You yourself said, no he doesn't. He's had K-12 and 4 years at college to enjoy his sport. now is the time to find a job, play the sport in your free time/coach younger kids, but there is absolutely no reason to pay $80K+ per year to let a kid "continue to play sports in their 20s".
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Anonymous
But by the end of College at a D1, you know whether you are material to have any shot at all in the Pros. Mom even said her son is not that material. SO unless you are wealthy, you simply don't pay that much to allow your college grad to not work and "do sports" |
Anonymous
| No. But that mean you shouldn't. |
Anonymous
| No. Because he won't be playing professionally. |
Anonymous
| If DS is actually a professional, he should be able to support himself doing this. |
Anonymous
Yeah it sounds like tennis or golf. There's a reason the parents of tennis players have jobs like "owner of the Buffalo Bills." On the one hand, this is a normal career path for people who end up playing professionally, on the other hand mom thinks he's not cut out for it? Having $80K a year to fund a hobby is unfathomable to me, so I'm not sure what I'd do, but it's not obviously a scam, just likely to be a mistake. |
Anonymous
| Yes, I’d probably do it. You are only going once. |
Anonymous
Totally agree. If you have the means, why not?!!!! I would definitely support my DS doing this.? |
Anonymous
+1 |
Anonymous
You do know there are lots of professional athletes who can't support themselves solely through their sport, right? "Professional" lacrosse players and female soccer players are the first who come to mind. They pay, but not enough to even cover what it costs to be on the team. |