There’s been a lot of talk lately about NIL. An idea entered my head today about how Vanderbilt could establish itself in a unique way in the NIL landscape.
Now that players are getting paid at the college level, financial literacy is more important than ever. So many of these players don’t know about things like high yield savings accounts, trusts, investment accounts, and retirement accounts. Unfortunately, I suspect we will be reading about many players in the next decade who blew their NIL money and went broke.
Something Vanderbilt should do is have players take mandatory seminars on these important topics. Part of the pitch would be “we’ll give you NIL and show you how to grow that money and turn it into generational wealth.” Obviously, the on field product is the most important thing, but Vandy should strongly consider doing something like this if they haven’t already.
Now that players are getting paid at the college level, financial literacy is more important than ever. So many of these players don’t know about things like high yield savings accounts, trusts, investment accounts, and retirement accounts. Unfortunately, I suspect we will be reading about many players in the next decade who blew their NIL money and went broke.
Something Vanderbilt should do is have players take mandatory seminars on these important topics. Part of the pitch would be “we’ll give you NIL and show you how to grow that money and turn it into generational wealth.” Obviously, the on field product is the most important thing, but Vandy should strongly consider doing something like this if they haven’t already.
