Behind the Finances of MLB Stars w/ Erik Kratz (Foul Territory)
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Show Notes
How does a pro baseball player handle finances on and off the field? In this episode of The Financial Quarterback, Josh sits down with former MLB player and "Foul Territory" co-host Erik Kratz to discuss the intersection of baseball and finance. Erik shares his inspiring journey from being cut from his high school team to spending over a decade in the big leagues.He talks about the financial challenges of playing in the minor leagues and the strategic decisions required to manage wealth as a professional athlete.
Then, Josh and Erik dive into the economic realities of travel sports for young athletes and their families, emphasizing the importance of financial literacy. The two also explore the financial struggles and successes of MLB players, discussing deferred contracts and the complexities of managing large sums of money. Erik shares anecdotes about balancing youth sports, family time, and financial wisdom, and they debate the viability of investment choices like real estate versus luxury cars.
The episode also touches on the controversy surrounding Shohei Ohtani's alleged gambling involvement and the broader implications for athletes' financial decisions. Erik reflects on the power of compounding in long-term investments and the significance of financial stability beyond just wealth.
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