Latest / The Standard / 30 Years in Athletics, NIL Certified — Why Income Protection Is the Foundation Everything | Ep. 68 John Bronkhorst

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30 Years in Athletics, NIL Certified — Why Income Protection Is the Foundation Everything | Ep. 68 John Bronkhorst · The Standard

• 0:02
  SPEAKER_01: Hey team, welcome to the Standard Podcast where we raise the bar, rebuild the culture, and call out the lies or misconceptions that nobody else will.
• 0:10
  SPEAKER_01: This isn't motivation, this is a movement.
• 0:12
  SPEAKER_01: I'm Thomas Rowe, your host, joined by my co-founder and co-host Aaron Charles.
• 0:17
  SPEAKER_01: And today we're sitting down with Coach John Bronkhorst, a retired athletic administration administrator and coach of 30 years, now serving as a financial professional with capital wealth strategies in Austin, Texas.
• 0:30
  SPEAKER_01: Coach specializes in income protection strategies for high-income earners, athletes, and professionals across the country.
• 0:38
  SPEAKER_01: His clients include physicians, medical professionals, high school and college athletes navigating NIL, and revenue sharing income, along with agents, coaches, educators, administrators, and high-performing business owners.
• 0:52
  SPEAKER_01: His primary focus areas are disability insurance, including own occupational strategies, life insurance through term, permanent, and structured layering approaches, and fixed and fixed and fixed indexes annuities for long-term retirement income planning.
• 1:09
  SPEAKER_01: What makes coach perspective unique, value, valuable, is the 30 years he spent inside the athletic administration and coaching before he touched a financial plan.
• 1:18
  SPEAKER_01: He knows the athlete's role from the inside.
• 1:21
  SPEAKER_01: The pressures, the transitions, the income volatility, and he has built a practice around protecting the one asset that drives everything else, the ability to earn.
• 1:31
  SPEAKER_01: Coach is NIL certified through Clean Connect NIL, the FROG, the Frog NIL certification program conducted by TCU Nealy Institute of Entrepreneurs and Innovation, and holds an NIL, MBA executive level CERP through Student Athlete Insights.
• 1:48
  SPEAKER_01: His proach is education first, structured and built around long-term stability.
• 1:53
  SPEAKER_01: Because financial confidence begins with protecting income and everything else built from there.
• 1:59
  SPEAKER_01: We're diving into the truth behind what it really takes to build identity, discipline, and legacy in sports and in life.
• 2:06
  SPEAKER_01: Let's get into it.
• 2:07
  SPEAKER_01: Coach, we're so excited to have you join us.
• 2:09
  SPEAKER_01: Thank you so much.
• 2:10
  SPEAKER_03: Oh, it's my pleasure.
• 2:11
  SPEAKER_03: Man, that Thomas, that was a that's an intro right there, man.
• 2:13
  SPEAKER_01: I don't know if I can hold up to that standard.
• 2:15
  SPEAKER_01: No doubt.
• 2:16
  SPEAKER_01: Team, that's the show.
• 2:17
  SPEAKER_01: Go ahead and reach out to John.
• 2:18
  SPEAKER_01: He's got all your answers.
• 2:20
  SPEAKER_01: So coach, I'm really excited to sit down with you because what we've talked about off-screen is how the landscape of NIL as well as the transfer portal has completely changed for the college athlete.
• 2:32
  SPEAKER_01: Now it's starting to bleed down into the high school.
• 2:35
  SPEAKER_01: So you've spent 30 years as an athletic administrator and coach before transitioning into financial services.
• 2:42
  SPEAKER_01: What does raising the standard mean to you and the work you're doing now to protect athletes and their high and high income professionals?
• 2:50
  SPEAKER_03: Yeah, I think what it means is basically it's for me, what it's always meant is refusing to accept mediocrity, especially in areas that matter most.
• 2:59
  SPEAKER_03: I mean, our culture has become obsessed with outcomes.
• 3:03
  SPEAKER_03: Right.
• 3:04
  SPEAKER_03: Uh, wins, rankings, followers, money, and titles.
• 3:09
  SPEAKER_03: But standards have very little to do with outcomes.
• 3:13
  SPEAKER_03: And so standards for me, standards are about habits, behaviors, and expectations.
• 3:18
  SPEAKER_03: Okay.
• 3:19
  SPEAKER_03: And so, you know, after 30 years in education and coaching, I learned that successful people aren't separated by talent nearly as much as they're separated by standards.
• 3:29
  SPEAKER_03: Correct.
• 3:29
  SPEAKER_03: And so talent can get you notice, but standards determine whether you're still standing years later.
• 3:36
  SPEAKER_03: Right.
• 3:37
  SPEAKER_03: And so for me, at the end of the day, what raising the standard means is choosing discipline when convenience is available, accountability when excuses are easier, and character when compromise would be profitable.
• 3:52
  SPEAKER_01: That's awesome.
• 3:53
  SPEAKER_01: You nailed it.
• 3:54
  SPEAKER_01: And what do you think is the biggest lie you feel about the culture of the financial industry that sells athletes and high earners about money, income, and what it really takes to build lasting financial stability?
• 4:07
  SPEAKER_03: I think it, you know, to me, and from a bigger picture point of view, not just in the financial world, but I think in general, you know, tying both my worlds together, I think the biggest lie is achievement creates fulfillment.
• 4:21
  SPEAKER_03: Okay.
• 4:22
  SPEAKER_03: You know, we've taught people that if if you if they win enough games, if they earn enough money, if they get enough recognition or achieve enough success, they'll finally feel complete.
• 4:35
  SPEAKER_03: And so the reality is that achievement is a terrible place to build your identity because there's there's always another level.
• 4:43
  SPEAKER_03: Right.
• 4:44
  SPEAKER_03: And so fulfillment comes from from you know who you're becoming, not what you're accumulating.
• 4:50
  SPEAKER_03: Sure.
• 4:50
  SPEAKER_03: And so for me, you know, when I was coaching, I always looked at, you know, I felt like, okay, if we could go like my last year uh of coaching before I retired, we went nine and one and uh hosted, you know, hosted a the you know, a playoff game and our new facility, all this stuff.
• 5:06
  SPEAKER_03: And so people are like, God, you must feel fulfilled because of that.
• 5:09
  SPEAKER_03: And I it didn't.
• 5:12
  SPEAKER_03: I mean, it I no matter the wins, I never felt like I was I was fulfilled.
• 5:18
  SPEAKER_03: And so the wins never fulfilled me.
• 5:21
  SPEAKER_03: What fulfilled me is that when I take a when I when I took a player in year one, and by the time he graduated, not only was he an out was he a better player, but he was a better person.
• 5:31
  SPEAKER_03: Sure.
• 5:32
  SPEAKER_03: And so the same thing, you know, in my world of you know, as a financial professional now, is when you know, for me, fulfillment is when I take, you know, when we're at step A and I take a family or a professional who isn't protected, right?
• 5:48
  SPEAKER_03: And we get we go through the entire process that we go through, and at the end of the day, they feel so much more relieved that all their bases are now covered.
• 5:59
  SPEAKER_03: So that last paycheck isn't their last paycheck, right?
• 6:03
  SPEAKER_03: And so to me, that's you know, that's that's fulfillment for me.
• 6:07
  SPEAKER_01: No question.
• 6:08
  SPEAKER_01: You know, that let's get into that a little deeper because I've always said that a coaching coach has a huge responsibility because they can make or break a young student athlete's career.
• 6:18
  SPEAKER_01: And you know, and uh a coach for the most part is a thankless job.
• 6:21
  SPEAKER_01: When the team wins, the players get the credit.
• 6:24
  SPEAKER_01: When you have a loss, the coach gets blamed.
• 6:26
  SPEAKER_01: I mean, with that said, you spent three decades inside athletic athletic administration and coaching before making this transition.
• 6:34
  SPEAKER_01: What did you see happening to athletes financially during their careers and after that convinced you this work needed to be done differently?
• 6:42
  SPEAKER_03: I think over the you know over the last, and really it's really come to be over the last you know four years now, is and then uh you know, having you know, having coached at the fresh professional level as well, or my over my career is just how very little financial education there is for these for these athletes.
• 7:02
  SPEAKER_03: Right.
• 7:02
  SPEAKER_03: A lot of it is just you know, people just not standing up and saying, hey, you need you need some financial literacy and having honest conversations with with the athletes about you know, it's it's not just about the money.
• 7:17
  SPEAKER_03: Right.
• 7:17
  SPEAKER_03: We're talking about for a lot of you know, for a lot of a lot of players, we're talking about generational money that it's gonna touch the lives of their grandkids.
• 7:27
  SPEAKER_03: Sure.
• 7:27
  SPEAKER_03: Not just their kids, but their grandkids.
• 7:29
  SPEAKER_03: And so doing the things necessary to educate them in that process to where you know where they protect that as they're going through life.
• 7:40
  SPEAKER_03: You know, to me, when I read stories, and I share this, I share stories like this when I'm talking to athletes about their NIL, about the NIL stuff, is you know, when I read a story about a 54-year-old NF former NFL player who is found dead in a homeless, you know, in a homeless encampment in California, that you know, that should have never happened.
• 8:02
  SPEAKER_03: This is a this is a a man who who played in the league.
• 8:06
  SPEAKER_03: You know, what you know, what where were the people where were the people behind the scenes that should have been helping the process?
• 8:13
  SPEAKER_03: How did he end up in a homeless encampment?
• 8:15
  SPEAKER_03: You know, how did we get to that place?
• 8:17
  SPEAKER_03: And so when I hear those things, and being a former educator, being a former coach, it really hit me about going out and and doing this, you know.
• 8:25
  SPEAKER_03: To me, I always felt like you know, my calling for the longest time over three decades was was coaching and teaching.
• 8:33
  SPEAKER_03: And so I still feel like that's my calling, but I'm doing it a different in a different venue, in a different avenue.
• 8:39
  SPEAKER_03: And so I still take that very seriously about going out and and working with athletes about the next step because the game has changed.
• 8:47
  SPEAKER_03: You know, I hate to use that cliche, but you know, the game has changed so much now when it comes to athletics, you know, at the high school levels, but specifically the college level now.
• 8:55
  SPEAKER_03: Sure.
• 8:55
  SPEAKER_03: These kids are seeing money, you know.
• 8:57
  SPEAKER_03: You know, some kids are gonna take a pay cut from from college to to the end of to the to pros.
• 9:02
  SPEAKER_03: Sure.
• 9:03
  SPEAKER_03: And so it's just you know, making sure that they're educated in this process.
• 9:07
  SPEAKER_01: Yeah, yeah.
• 9:08
  SPEAKER_01: You know, you touched on something, and I know that you're gonna this is gonna hit home close home for you.
• 9:13
  SPEAKER_01: You know, the most of these athletes are battling CTE, right, at the end of their career.
• 9:19
  SPEAKER_01: You know, one of the things my brothers, I played wide receiver, my brothers played left and right tackle.
• 9:23
  SPEAKER_01: And I remember one Christmas we were talking about, and I asked him, they said, How many concussions do you think you had?
• 9:28
  SPEAKER_01: And my brother Matco's confirmed.
• 9:30
  SPEAKER_01: And I was like, Wow, that's a good point, right?
• 9:33
  SPEAKER_01: You know, a lot of these guys that go, you know, they go on that you think about it, four years in high school, three or four years in college, and then three or four years in the pros.
• 9:41
  SPEAKER_01: So you're taking, you know, 12 years of a beating, and it's it's gonna take its toll on you.
• 9:46
  SPEAKER_01: That's why it's so important for these for Aaron and I to make sure these young athletes understand how the NIL can work in your favor, because if you continue down this road, I mean, football is a contact sport.
• 9:57
  SPEAKER_01: You're going to get hurt.
• 9:59
  SPEAKER_01: It's not if it's when.
• 10:00
  SPEAKER_01: So on that one, I'm gonna turn it over to Aaron for segment two.
• 10:03
  SPEAKER_01: Aaron, tell yours, identity and mission, take it away.
• 10:06
  SPEAKER_00: Okay, thanks, guys.
• 10:08
  SPEAKER_00: Fun to listen in.
• 10:10
  SPEAKER_00: We start this.
• 10:11
  SPEAKER_00: So, with that, I know one of your core convictions, John, is that financial confidence begins with protecting income and everything else builds from there.
• 10:20
  SPEAKER_00: What does legacy beyond just building a successful financial practice mean to you, especially when you're working with athletes early in their earning years?
• 10:31
  SPEAKER_03: Yeah, I think for me, you know, legacy isn't what people remember about you, legacy is what continues because of you.
• 10:41
  SPEAKER_03: You know, and so when I when I'm able to touch lives with these, with these with these student athletes or even in the professional world that I I that I work with, it's you know to me, I it's an investment when I when I invest in a client's future by by sitting down with them and going through the steps of of of protection, you know, asset building, all that, you know, everything that comes with the process.
• 11:05
  SPEAKER_03: And and so, you know, uh, you know, in this industry, just like in coaching, you know, you you you achieve success, you get trophies and all that recognition.
• 11:15
  SPEAKER_03: I don't think about trophies, you know, I think about you know former former athletes uh becoming great parents, former athletes becoming leaders, people carrying the lessons of discipline and accountability and adulthood.
• 11:29
  SPEAKER_03: And you know, even now, you know, as a financial professional, the work that I'm able to do with them and and that transitioning into adulthood, um, because you know, again, the percentages are very, very low about them going professional after college.
• 11:44
  SPEAKER_03: So their four years in college may be the highest earning that they that they make in their career at one time, you know, in a four-year period.
• 11:52
  SPEAKER_03: And so to me, it's the work that I put in, you know, it that I continue to pour into them.
• 11:57
  SPEAKER_03: That's to me that I'm building my legacy that way.
• 12:00
  SPEAKER_03: You know, the scoreboard never remembers who won 20 years ago.
• 12:04
  SPEAKER_03: No, people remember who helped shape their life.
• 12:07
  SPEAKER_00: Yep.
• 12:08
  SPEAKER_03: And that's that's what it's about for me.
• 12:10
  SPEAKER_00: I love that.
• 12:11
  SPEAKER_00: I think that's so important.
• 12:12
  SPEAKER_00: And that kind of dovetails into my next question.
• 12:14
  SPEAKER_00: And you just kind of alluded to it.
• 12:16
  SPEAKER_00: Like you obviously work with a wide range of clients from physicians, NIL athletes, coaches, business owners.
• 12:22
  SPEAKER_00: What separates clients who build lasting financial stability from those who earn a significant income but still end up financially vulnerable?
• 12:33
  SPEAKER_00: And we were kind of talking about that for even with the you know, X NFL player that ends up in a home, homeless encampment.
• 12:41
  SPEAKER_02: Yeah.
• 12:45
  SPEAKER_03: That's a great question.
• 12:48
  SPEAKER_03: I I I yeah, to me, it's it's and I'm gonna ask you real quick because I you know, I I want to I want to make sure that from a thought standpoint, re-ask that question for me because I want to make sure that you know the the thoughts that I have in my head are touch it exactly the way that I want it.
• 13:05
  SPEAKER_03: So I apologize.
• 13:07
  SPEAKER_00: Nope, I don't love it.
• 13:09
  SPEAKER_00: So I'll just boil down the question here.
• 13:12
  SPEAKER_00: So, what separates clients who build lasting financial stability from those who earn significant income but still end up financially vulnerable?
• 13:24
  SPEAKER_03: Yeah, I mean, I I it's planning.
• 13:26
  SPEAKER_03: To me, it's you know, when you you know when you're making a significant amount of money and you're not planning, it's irresponsibility.
• 13:38
  SPEAKER_03: I you know, it doesn't matter what what avenue uh of life that you're in, if it's an NIL college athlete, a professional, a professional athlete, a doctor, a teacher, you know, those who are successful down the road into their retirement years are the ones who planned properly.
• 13:56
  SPEAKER_03: And it doesn't matter, you know, you could have people who are who make you know a million three a year during their career, you know, every year of their career for 10 years, and then they get into retirement age at 60 and they're broke.
• 14:15
  SPEAKER_03: It's and they're broke because they didn't plan.
• 14:18
  SPEAKER_03: And so you have a you know, one of the things that you know, there's you know, people you know, you only live once, it's the whole mentality of, hey, I'm just gonna get mine, I'm just gonna live now, and then whatever happens, happens.
• 14:29
  SPEAKER_03: You know, to me, it just comes back to about responsibility.
• 14:32
  SPEAKER_03: And to me, I you know, as a as a professional, you know, even when I was coaching, when I'm you know, now I'm you know coaching in a different realm, it's the educational part of why.
• 14:43
  SPEAKER_03: Why is this important to plan?
• 14:45
  SPEAKER_03: Why is it important that we sit down and do a full understanding of their entire financial picture from protection to to investments to everything?
• 14:56
  SPEAKER_03: I mean, it's it's so important to have a plan.
• 14:58
  SPEAKER_03: If you don't have a plan, you you're you're going to fail.
• 15:02
  SPEAKER_00: Yep.
• 15:03
  SPEAKER_00: Yeah.
• 15:04
  SPEAKER_00: Planning is the key.
• 15:06
  SPEAKER_00: I agree with that.
• 15:08
  SPEAKER_00: Is what's that saying?
• 15:09
  SPEAKER_00: Like failing to plan is planning to fail or something.
• 15:13
  SPEAKER_03: Yeah, no, no, 100%.
• 15:14
  SPEAKER_03: 100%.
• 15:17
  SPEAKER_00: So on that note, I love this question.
• 15:19
  SPEAKER_00: This is what my favorite question I get to ask.
• 15:21
  SPEAKER_00: What's one truth you wish every athlete, parent, coach, administrator understood about income protection and financial planning that most are not hearing?
• 15:34
  SPEAKER_03: Oh man, the watch just you have to protect you know, to me, you you you have you and I'm trying to put this into words, you know, to me you've got to protect yourself.
• 15:51
  SPEAKER_03: You've got to protect your life, you've got to protect your livelihood.
• 15:54
  SPEAKER_03: It's a responsibility to your loved ones.
• 15:57
  SPEAKER_03: To me, it's it's not just protecting your income, but it's protecting your life, it's protecting your financial future.
• 16:04
  SPEAKER_03: Uh, you know, to me, it is just uh it's just so important that people understand why it's why the need for protection is is available to them.
• 16:15
  SPEAKER_03: It's like I said earlier, you know, making sure that your last paycheck isn't your last paycheck.
• 16:20
  SPEAKER_03: And so just making sure that those things are taken care of.
• 16:23
  SPEAKER_03: And so the the truth is that you know, if if you don't plan it, you know, if you don't plan for it, you are going to fail.
• 16:30
  SPEAKER_03: You're going to be, you're never going to have an opportunity to retire, and you're going to you're going to be kicking yourself at 75 going, why am I still working?
• 16:37
  SPEAKER_03: Why am I, you know, why am I still having to work?
• 16:40
  SPEAKER_03: Well, it's because when you were in your third, your late 20s, early 30s, you didn't, you didn't take the advice that your financial professional or somebody in your life told you that, hey, you need to be taking care of this.
• 16:51
  SPEAKER_03: You're, you know, and and building this in and building this platform for yourself to where you get to 60 to 65 years old, you can retire.
• 17:00
  SPEAKER_03: And you can, it may not be the most comfortable, lavish lifestyle, but you're not having to work, you'll be able to just go out and and enjoy those those late years of life and not have to worry about living paycheck to paycheck.
• 17:12
  SPEAKER_03: And unfortunately, I I see that so much now in all walks of life where people are still, you know, not by choice, but by by need, are still having to grind it at 75 because they didn't plan and they failed to do it.
• 17:28
  SPEAKER_00: I love that.
• 17:30
  SPEAKER_00: Okay.
• 17:30
  SPEAKER_00: That I'm gonna turn it back over to Thomas.
• 17:33
  SPEAKER_01: Thanks, Aaron.
• 17:34
  SPEAKER_01: Coach, let's talk about NIL and revenue sharing specifically.
• 17:38
  SPEAKER_01: Athletes are now earning real income earlier than ever, sometimes in high school.
• 17:44
  SPEAKER_01: You're certified through a clean conic TCU, frog program, student athlete insights.
• 17:50
  SPEAKER_01: What are the biggest financial mistakes you're seeing athletes and their families make in the new landscape, other than what you were just talking about with Aaron, as far as planning?
• 18:00
  SPEAKER_03: Is is really just understanding the business aspect of it.
• 18:03
  SPEAKER_03: They're not, you know, they're they're taking this money and they think that it's it's unlimited.
• 18:10
  SPEAKER_03: Right.
• 18:10
  SPEAKER_03: And they don't they don't realize that that money can go away at a moment's notice.
• 18:15
  SPEAKER_03: That's right.
• 18:16
  SPEAKER_03: And so it's really making sure that they're they're sitting down and taking a look and understanding the business side of what NIL and revenue sharing is.
• 18:25
  SPEAKER_03: Sure.
• 18:26
  SPEAKER_03: And so it's sitting down, it's it's it's understanding and and having a full financial snapshot taken on on contracts, making sure that they read their contracts, uh, and they're not getting into you know something that they shouldn't be getting into.
• 18:39
  SPEAKER_03: Uh, understanding that taxes, you know, paying taxes.
• 18:42
  SPEAKER_03: A lot of these kids don't understand that they're it's it's taxable income.
• 18:45
  SPEAKER_03: They have to, they have to tax, you know, they have to they have to file it.
• 18:49
  SPEAKER_03: Protecting the income, you know, making sure that you know it they're at any moment notice.
• 18:54
  SPEAKER_03: I mean, you can blow out a knee and then you're done.
• 18:56
  SPEAKER_03: And so what's gonna happen to that income?
• 18:58
  SPEAKER_03: And then understanding that, again, this is a certain period of time in your life where you're making an income that you may never make again in a given year.
• 19:09
  SPEAKER_03: And so let's make sure that that's not you know, like that we're taking care of our business there.
• 19:14
  SPEAKER_03: Obviously, we want to spend some money on ourselves, and you earn the right to do that, but be smart, be you know, financially literate about it, you know, and a lot of it too is you know, when you're talking about generational income and you're talking about generational money, right?
• 19:29
  SPEAKER_03: Is is everyone has these big eyes about, oh, I'm gonna get this, I'm gonna get this, I'm gonna get this, and you know, all that type of stuff.
• 19:36
  SPEAKER_03: Well, next thing you know, they they have nothing left.
• 19:39
  SPEAKER_03: Right.
• 19:39
  SPEAKER_03: And then their four years, five years are over with, and they're left with going, wow, I just squandered over a million dollars in income in a four-year period, and I have nothing to show for it.
• 19:52
  SPEAKER_03: I'm not going pro, and now I'm gonna, I'm gonna, I have to accept this$75,000 a year job.
• 19:58
  SPEAKER_03: And you know, again, they didn't they didn't heed the advice of the of the people around them.
• 20:04
  SPEAKER_03: They listened to all the hanger-ons who said, Oh no, go do this or go do that, instead of uh understanding that this money is a great opportunity to build a legacy.
• 20:14
  SPEAKER_01: No question.
• 20:15
  SPEAKER_01: You know, it's funny when we get when Aaron and I get questions from athletes and their families, they're like, So tell us what you know about NIL.
• 20:21
  SPEAKER_01: And I, you know, my response is, well, let you know, did you set up an S Corp or do you have an LLC?
• 20:27
  SPEAKER_01: And did you talk to your financial advisor?
• 20:29
  SPEAKER_01: What about your tax accountant?
• 20:30
  SPEAKER_01: What does your agent say about this?
• 20:32
  SPEAKER_01: And they look at me like I have three heads, and I said, Let me put the question back on you, what do you know about NIL?
• 20:39
  SPEAKER_01: Right.
• 20:39
  SPEAKER_01: And I said, These are really important questions because I have to remind them, I said, listen, trust it, trust me, coming from me, you are one play away from your career being over.
• 20:50
  SPEAKER_01: That's it.
• 20:50
  SPEAKER_01: Done.
• 20:51
  SPEAKER_01: So you come from 30 years inside athletic departments.
• 20:54
  SPEAKER_01: How does the background change the conversation you're able to have with these athletes and administrations, administrators, and families that your traditional financial advisors simply can't have?
• 21:05
  SPEAKER_03: You know, the the to me is because I I have to me, I I I think what adds to my credibility and why I'm able to have these conversations is because I've been in that chair, I've been in those shoes.
• 21:15
  SPEAKER_03: That's right.
• 21:15
  SPEAKER_03: Um, and so you know, my background of of coaching and athletic administration serves me well in this in this venue because they you know uh I know what I'm talking about.
• 21:28
  SPEAKER_03: I'm not just a you know, I'm I'm just not an insurance guy or a financial advising guy who who from just some company who's never you know who's never done it before in regards to athletics.
• 21:40
  SPEAKER_03: Sure.
• 21:41
  SPEAKER_03: So I've been you know been on that side where you know you would, you know, it's gone from advising students about just about life in general to now advising students about not only life but also the financial complications that this you know that athletics brings to the table now.
• 21:56
  SPEAKER_03: Oh yeah, from from branding and what it means to, you know, you used to tell.
• 22:00
  SPEAKER_03: kids all the time that hey you know you're when you're getting recruited hey we got to make sure that our social media is clean is cleaned up and all that type of stuff now now it's on top of that it's hey your the your social media is a brand is a is your brand right and so making sure that they understand that the things that they put on their social media tells a story about who they are from a character standpoint and and you know do do companies want to you know do they want you representing their brand sure you know it's like you know I I said this the other I said this yesterday you know if a company were were to research you tonight what would they find?
• 22:34
  SPEAKER_03: Sure and so being able to have those real conversations with families and with student athletes with coaches because I've been there I've been in that chair and so that brings credibility to the table and I think that's why more doors have opened for me in this process because they see my background and what I've done and where I've been and say okay so this somebody who gets it.
• 22:55
  SPEAKER_03: Right.
• 22:56
  SPEAKER_03: And so that's that's the I think that's been one of the big help for me.
• 23:00
  SPEAKER_03: No question.
• 23:01
  SPEAKER_01: No question if this is the segment I'd like to get into if you knew then what you know now if you could sit down with a high school or college athlete just beginning to earn an IL income before they've ever had made any financial decisions what would you tell them about protecting what they're building is take it seriously and prepare.
• 23:23
  SPEAKER_03: Preparation preparation preparation you know not comparison don't worry about what somebody else is making you know again you get you get these locker rooms now especially in the college landscape where you know two lockers down a guy's making$5.4 million and you're making$750.
• 23:40
  SPEAKER_03: Right.
• 23:40
  SPEAKER_03: You know and so don't compare take what you have appreciate what you have and prepare you know preparation is so so important.
• 23:52
  SPEAKER_03: Right.
• 23:52
  SPEAKER_03: And this so that because you know again too many to too many athletes compare their themselves to others.
• 23:58
  SPEAKER_03: Sure.
• 23:58
  SPEAKER_03: You know and now it's not only you know you know comparing themselves to others about what they do on the field now it's comparing themselves to others financially.
• 24:08
  SPEAKER_03: What am I making versus what are they making?
• 24:09
  SPEAKER_03: How come they get all this and I don't get all hey focus on you focus on what you have and let's protect that and let's prepare for the things down the road for that to me the better path is focusing on becoming the best version of yourself than worrying about what others are doing.
• 24:28
  SPEAKER_01: No question.
• 24:30
  SPEAKER_01: And what about parents trying to help their athletes or their children navigate NIL income and financial decisions what do you think parents need to know that most of them don't know and they're walking around without this information yeah that's a great question biggest thing is this is is this is no longer about just athletic performance on the field it's about it's business.
• 24:51
  SPEAKER_03: Right.
• 24:52
  SPEAKER_03: And understanding you know the tap the tax implications especially if you have kids who are still minors you know they're the income that they that they make now go on the parents tax bill.
• 25:02
  SPEAKER_03: Right.
• 25:03
  SPEAKER_03: You know and so understanding all the things that go along with that the other thing that they have to understand it's not just the athlete but the parents also is the compliance what are the state regulations in your in your state what do they allow you know from from you know especially at the high school level because you see it permeating into high schools now.
• 25:22
  SPEAKER_03: So just understanding the the the rules and regulations that this is a business and so there are so many things now you you can't just it's just not the comparison of my son's a better shortstop than your son and that's why he's the star.
• 25:36
  SPEAKER_03: You know it's now understanding the complexities of the business side of NIL and why it's important to protect this and not just willy nilly hey my son's making$7500 a year we've got it made blah blah blah no that's for the year one right it can go away what happens if he doesn't perform well you know I I use an example of a of a the other day of a receiver former receiver at the University of Texas you know he was given he had NIL money he was a number three receiver they told him that hey we can't guarantee you a number you know the number three position but we're gonna pay you the same uh the same NIL and he instead of taking the money he's like well I don't I I if you if you're not guaranteeing me that spot I'm just gonna transfer.
• 26:18
  SPEAKER_03: Right.
• 26:19
  SPEAKER_03: It's like understanding the the complexities of competing understanding the complexities of the business side of things and so it's all now under one big umbrella and and so it's just they just got to understand that it's just not about you know it's not about chasing the dollar it's about protecting it.
• 26:41
  SPEAKER_03: It's about their brand it's about who they are off the field as well.
• 26:45
  SPEAKER_01: No question.
• 26:46
  SPEAKER_01: No question on that one I'm gonna turn it back over to Aaron for segment five the rapid fire round Aaron it's all yours.
• 26:52
  SPEAKER_00: Awesome okay this is fun this is great information so mine is short and quick this segment so I'm gonna start a sentence and you're gonna finish it for me okay oh boy okay discipline equals consistency leadership equals service legacy equals impact financial confidence equals financial that one wow legacy building I love it what's one thing you would never compromise on integrity and if you could put a message on a billboard for every athlete earning NIL come a NIL income right now what would your message on that billboard be oh man that's a good one I think your character will take you places your talent never can ooh I might have to steal that one from you that is a good one okay with that Thomas I'm gonna kick it back over to you.
• 28:05
  SPEAKER_01: Awesome thanks Aaron coach before we wrap up is there something we didn't touch on today that you feel athletes families or coaches or even administrators need to hear about income protection and financial planning in the NIL era?
• 28:19
  SPEAKER_03: Yeah I think the biggest thing that I've run into is just the lack of knowledge and lack of understanding and the importance of why getting started now is so important.
• 28:36
  SPEAKER_03: You don't have time right this this landscape is changing every moment you know we've got a Senate bill big debate going on right now on Capitol Hill you know that's gonna that could change the entire landscape of how NIL is done how revenue sharing is done how the transfer portal plays into that you need to make sure that you have a plan in place don't take it for granted right so when you have the opportunity when when professionals like myself come in and start talking to juniors in high school it's not trying to get something started right now because you're not obviously not making the money right now it's not that it's about putting the the pieces in place putting laying down that foundation now so when you do when you do have the opportunity to make that that that NIL and revenue sharing income you have all that foundation laid down now and so you can hit the ground running instead of going okay I've got this I've got this money now coming in what now right if you plan ahead and start that process of what it's going to take that process becomes so much easier and so much cleaner when when it when it starts when that income starts coming in so just don't ignore the planning process ahead of time right on right on coach you went from rapid fire now you're in the hot seat what art imitating life what are the top three sports movies according to coach remember the titans okay man field of dreams right on and oh my gosh this one always seems to stump our guests yeah there are so many great ones out there and this and this may I don't know if this will ruffle ruffle feathers or what but I love the one movie that just to me it just has and there's so many layers to it facing the giants.
• 30:42
  SPEAKER_01: Oh yeah yeah yeah yeah yeah that's awesome that's awesome you know it's so funny where this question comes from is one we interview a lot of people that are involved in athletics as you can imagine but in addition to that I remember you know one of my uh business classes they were talking about you know be prepared to like just ask you know the people the person interviewing them to kind of take back control like what are your top three you know sports movies what are your top three moves of all time or what are you currently reading right now right and just be prepared for that because you know when someone's like uh yeah but but you know what's so funny interesting is sometimes we interview some football players all three of their movies are not football related or some of the like for me I've never played hockey miracle is my all miracle yes all time movie oh you know you get a bunch of misfits together with one goal anything's possible and then the second one coach I'm I you know I would remember standing in the in the movie theater watching Rocky with my dad yelling and screaming like it was a prize fight I mean I was out of my seat and the third one is Hoosier's right and everything else everything else to me is just honorable mention because there are so many wonderful wonderful movies yeah I mean absolutely every time you say those things like oh my gosh how did I how did I not think of that one or how do I think there are so many go there are so many movies out there no question no question there's just I mean it's just incredible endless which is awesome which is awesome coach thank you for showing us what it looks like to take uh 30 years to inside athletics in the world and to protect the next generation of athletes in financial from financial mistakes that nobody has warned them about but before we close out what I want to do is I want to give the audience an opportunity to connect with you do you have a website do you have a uh social media handles or an email that you want to give out to the audience yeah I mean I'm I'm on LinkedIn so just look up John Bronckhorst and you get to see this beautiful face on my profile.
• 32:36
  SPEAKER_03: I'm also on Twitter at at Coach Bronck and so that one no that one's carried with me for a long time.
• 32:42
  SPEAKER_03: Like again I I I I even though I've retired I'm still Coach Bronck.
• 32:46
  SPEAKER_03: Like yeah my former players still call me coach bronch and so that and then also our company website CWSplanny dot com and then you can you can find my information on there and then my email is my first and last name john dot bronck course at CWSplanning.com I'm always available shoot me questions you can set shoot me a DM I'm always available I'll make myself accessible to people to always be able to ask questions to me and and just ask advice on things to me that's what it's all about and you know I'm I don't I don't see myself I'm not a salesperson I'm an educator I'm always will be an educator you can ask questions you know ask me questions we may never do business but to me it's it's about getting information out there to people and helping them make smarter decisions not just in life but also financially.
• 33:32
  SPEAKER_01: Awesome awesome team if this conversation hit with you do two things for us one share this episode with someone who needs to hear it an athlete earning NIL income for the first time a parent trying to navigate a financial landscape no bees prepare them for a coach or admin who wants to serve their athletes better off the field and two connect with coach at Capital Wealth Strategies in Austin Texas and if you're an athlete professional or family looking to build income protection and long-term financial stability with someone who actually understands the athletic world reach out to coach he'll be able to help you out and if you're an athlete parent or coach ready to raise the standard reach out to Aaron or myself at blueprintbluechip.com we work with families athletes and coaches to get you prepared for the next level and team if you're do you we would love for you to do us a solid leave us a five star review on Apple Podcasts or Spotify it helps us reach more parents athletes and leaders who need to hear today's message from coach this is a standard podcast and this movement only grows when we raise the standard together talent fades but truth endures let's raise the standard let's raise the bar rebuild the culture and become the standard coach Aaron thank you so much team we'll see you next time thank you Thomas and Aaron appreciate everything you guys do awesome awesome thanks