What Fantasy Football Can Teach You About Diversification (or Your Financial Plan)

The football season is upon us again here as the fall rolls around and neighborhoods and workplaces are buzzing with Fantasy Football fever.  The Fantasy Trade Sports Association commented that the Fantasy Football market is more than a 70 billion dollar industry today and growing.   With so many people joining multiple leagues, what can this popular game teach us about how we manage our portfolios and diversify our assets. Do Your Homework? It’s shocking how many people don’t know what they own in their 401(k), IRA, or their brokerage accounts.  You may have purchased a target fund or some growth and income fund, but you don’t actually know what you own.   Moreover, you may not understand the risks on how much you could gain in one year or how much you could potentially lose in one year.  It’s important to read the prospectus before you invest, look at the track record of the investment you will be making, and learn ...

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Do You Need Peyton Manning Insurance?

With the first official NFL Football game underneath our belts, the start of a new NFL season is now going to be the center of our TV rooms every Sunday.  For those of you who were lucky enough to draft Marshawn Lynch on your fantasy football team, your team had a head start going into opening weekend. What started out as something for people to just have fun following NFL Football has now turned into something far more serious than ever expected.  In fact, some people are questioning whether the new NFL rules enacted this year have something to do with the big business of fantasy football, in which the grand prize is $100,000 or more in some leagues.  The big question is ‘do you need fantasy sports insurance’? As people who deal with all types of insurance in our business, it’s pretty amazing to think that there could be such a thing as fantasy sports insurance (FSI).  However, in ...

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Why Tim Tebow and Michael Vick Will Lose You Money

I’ve never really been a fantasy football zealot nor have I ever joined a fantasy football league.   However, according to foxbusiness.com, Fantasy Football will now generate over 1 billion dollars in profits through cable deals, draft guides, advertisements, buy in fees, and various other endorsements.    While the talk at the water cooler can be a blast between office mates, Fantasy Football has now turned into a serious business all on its own.    And who does it really end up costing?    Not the people who put in $200 for a fun league to play during the course of the year.    It really ends up costing the business owners countless hours of lost productivity from the their employees. It is estimated now that over 26,000,000 people across America spend more than one hour per week managing their fantasy football roster at work. (source: www.wrex.com).   As small business owners, we have to spend money and time designing our policy handbooks.   Over the years, ...

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