NBA Finals Bonus: MAI Capital's Joe McLean on Being the NBA's 'Money Whisperer'

Professional athletes face unique financial challenges due to short career spans and high income volatility, requiring a disciplined, multi-layered approach to wealth management. Joe McLean, managing partner at MAI Capital, advocates for a three-bucket strategy: establishing a safety net of 24 months of cash, building a liquid growth portfolio, and reserving a small portion for entrepreneurial ventures. Athletes must adopt an owner mentality, prioritizing long-term financial health over immediate consumption. This involves rigorous budgeting, such as saving at least 60% of net earnings, and investing in personal maintenance—including specialized trainers and medical support—to extend playing careers. By treating financial planning as a structured, professional endeavor rather than a passive activity, athletes can secure their wealth beyond their playing days, successfully transitioning from high-earning performers to sustainable, long-term investors.