Originally published 11/16/2019.
From the Big Game to college bowl celebrations to fantasy football leagues football is a permanent piece of Americana.
College football remains one of the most popular, most watched sports in the U.S. With 163 million fans watching on television and 47 million attending in person each year, college football is second only to the National Football League in terms of core fans across all sports.1
Of course, college eventually comes to an end and when it does, less than 2 percent of the 81,000 college football student athletes will go on to play professionally. That means, like the rest of us, they will have to deal with life in the real world when they graduate. And with that rite of passage comes the beginning of the transition to adulthood, and all that comes with it.2
A real job
The start of our working life brings many new decisions. From choosing that first job to deciding on health benefits and whether to enroll in the company 401k plan—there’s a lot to figure out.
A real place to live
While you may not be able to shed the need for a roommate, hopefully you’ll be able to take a step up from dorm living or campus housing. Whether it’s New York City, New Albany, OH, or Newfoundland, NJ, you’ll need to find a new place and navigate a new apartment lease—or maybe even a new mortgage.
A real partner
You might meet someone you want to share your life with. According to the American Community Survey, 32 percent of women and 21 percent of men will be married by the age of 25. Finding someone could mean merging your finances with theirs – which can be complicated. So discussing your goals and financial situation early on is a good way to start preparing for the future.
A real life
Whether you get married, stay single or co-habit, adapting to the real world as an independent adult will be both exciting and a bit overwhelming. As we moved past the COVID-19 pandemic we learned that striking the right balance of work, healthy relationships with friends and family, regular exercise, and working toward your financial goals will all be part of being good at life.
Budgeting your time and money is an important exercise that helps you set and achieve common-sense goals that will help you get ahead—and stay ahead, such as:
Set a realistic overall budget that helps you work toward goals, and stick to it. You’ll be amazed at how quickly you can build wealth—and protect those you love—even on a modest starting salary out of college.
And the next time you do get to watch a college game, just remember you have more in common with those incredibly talented athletes than you may think.
To connect with a New York Life financial professional visit here.
1 National Football Foundation Attendance Survey: https://footballfoundation.org/news/2019/6/11/2018-19_Attendance_Release.aspx
2 NCCA 2020 Probability of Competing Beyond High School Figures and Methodology: http://www.ncaa.org/about/resources/research/estimated-probability-competing-professional-athletics
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