UCLA student athletes attended a presentation called the Playbook for Life on Tuesday.
The program, put on by The Hartford and sponsored by the NCAA, is designed to help student athletes learn about making investments and how to manage their own finances during and after college. The two presenters were Bill Poutre, coach of the University of Hartford’s golf team, and Nancy Lieberman, former WNBA star and current ESPN basketball analyst ““ both of whom were student athletes.
The presentation focused on the different aspects of financial planning, and used data from studies to show the average income and spending needs of someone right out of college. In order to demonstrate the need for financial planning, anecdotes were given and slides and a short video were shown.
Two of the anecdotes that received the biggest reaction were the stories of Lieberman investing in an emu and Poutre investing in racehorses.
The goal of the presentation was to get students to understand their own finances and prepare for their futures.
Once out of college, understanding finances and making good decisions will help these student athletes to excel. The easy-to-follow format seemed to help those in attendance who did not know much on the subject.
“It was interesting how everything was laid out,” freshman swimmer Hope Thurman said. “It really helped my understanding.”
Those in attendance received a booklet that laid out the most important aspects of financial planning.
“It’s visual and so poignant in getting the message across,” Lieberman said.
Lieberman decided to join the Playbook for Life mission in part because it was something that she never experienced as a student athlete.
“A year and a half ago at the Women’s Final Four, I was asked if I would lead a symposium for the Playbook, and I did some research,” she said. “I moderated this thing and I thought, “˜This is the single most important thing I have been a part of,’ because I didn’t have this. We are sharing information. It is absolutely phenomenal.”
Sophomore water polo player Kim Nelson was in attendance, asking questions and learning from the speakers.
“I was most concerned about financial planning and circumstances,” Nelson said. “I was glad to know that I can go anywhere based on what I learned.”
Out of all the financial information presented, Lieberman spoke of students’ budgets as the most important. With a budget, she noted that post-collegiate expenses would become much easier to deal with.
“If I budget, I can start paying off student loans,” Lieberman said. “I learned that if I just put a small amount away, I can build on that.”