Former NFL Star: Don’t Fumble Your Finances

Willie Thomas, a former NFL defensive back for the Seattle Seahawks, knows from experience the financial pressure athletes face when they first enter the league.

And he knows how important it is to have a healthy understanding of financial planning early on. 

A nationally recognized financial advisor serving as the Boca Tropics market executive for Merrill Lynch Wealth Management, Thomas has focused on helping professional athletes manage their wealth. But Thomas, who grew up in Coral Springs and was his high school’s gridiron star, has widened his scope to make an impact on underserved communities. He is all about sharing financial literacy tips to drive conversations about money forward across local Black and Latino communities. 

“I’m passionate about financial literacy and helping people manage their money because it is one of the most essential foundations for ensuring long term security for individuals and their loved ones, yet it is often misunderstood,” Thomas said in a press release. “As a former pro athlete, I made some mistakes with my finances, so I know what it’s like to lack this information and knowledge and that is part of what drives me to want to reach out to the community and make sure their financial goals are met.”

Saving several months’ worth of living expenses for an emergency fund can be intimidating, he says, especially when it feels like all of your available cash is already accounted for each month. “But if there is one thing that the coronavirus has taught us, it’s that emergency funds are an integral way to handle unexpected, and sometimes expensive, life events.” 

One in four Americans (23 percent) have absolutely nothing in their checking or saving accounts, he reports. 

Visit local.ml.com/bocaratonfl.