The First 90 Days After Going Pro: A Rookie Family Checklist

The first 90 days after the draft are crucial for establishing a solid financial foundation. The following checklist outlines what you should focus on first, from assembling a money advisory dream team to managing new income to setting up the protections you need to manage financial risk. Let’s get to it.

Days 1–30: Laying your financial foundation and building your off-field money team

You wouldn’t go into a game without a game plan or a trusted squad. The same applies to your finances. Your first month is about assembling that off-field roster and getting your financial house in order.

Hire your advisory team

Include a:

• Sports lawyer with experience working with athlete contracts.
• Certified Public Account (CPA) with experience working with pro athletes.
• A registered wealth management firm that works with appropriately licensed financial professionals.
• A wealth management advisor who can help coordinate financial planning and work alongside tax, legal, and other professionals. Related link: Why every athlete needs to work with a wealth management team

Understand your cash flow

In other words, know what money is coming in and what money is going out.

• Know exactly what’s in your contract, when it pays out, and any conditions. (That’s where the sports lawyer comes in.)
• Understand your signing bonuses. (That’s where the CPA and financial advisor come in.)
• Work with your CPA to set aside money for federal, state, and local taxes.

Establish bank accounts and good credit

We recommend having separate bank accounts for personal and business finances. Keeping money separate makes things easier during tax time.

• Open a checking account.
• Open a high-yield savings account (HYSA).
• Use a credit card responsibly, ensuring you pay the balance in full every month.
• Monitor your credit score and consider freezing your credit with the three major bureaus (TransUnion, Equifax, and Experian) to protect against identity theft.

Create a basic budget

Track spending to separate needs from wants. The 50/30/20 rule is a simple start. A financial advisor shines in this area.

• Use 50% for needs. These are rent, mortgage, utilities, groceries, transportation, and insurance.
• Use 30% for wants. These are things like dining out, entertainment, vacation, or hobbies.
• Save 20% for savings and paying off debt. These are high-interest debt like credit card debt, plus stuffing your emergency fund, retirement accounts (401(k) or IRA), and investments.

Days 31–60: Strategy and protection

The next phase focuses on protecting your wealth and building a safety net. You wouldn’t run a play without a solid defense in place, and the same goes for your money. Protect what you’ve earned and build a financial safety net that can absorb hits. Your off-field team helps you implement insurance, emergency funds, and smart protections so that injuries, unexpected expenses, or market swings don’t derail your rookie year or your long-term goals.

Get the right kind of insurance

Protect against unforeseen circumstances, like injuries.

• Disability insurance. Get coverage for both temporary total disability (TTD) and permanent total disability (PTD) to protect future earnings if an injury ends your career.
• Health insurance. Look for comprehensive coverage, potentially including supplemental and catastrophic plans.
• Life insurance. This protects your loved ones if you aren’t around to provide for them.
• Property and casualty insurance. Protect valuable assets like vehicles or a new home.

Come up with your long-term savings goal

Professional careers are short. Building wealth early is essential. Aim to save or invest at least 20% of your income.

Build an emergency fund

Start aggressively saving to cover three to six months of living expenses, held in a liquid, high-yield savings account (HYSA).

Avoid common pitfalls

Resist the urge to splurge on luxury items immediately. Prioritize long-term stability over short-term gratification first. Related link: Rookie money mistakes: 7 lessons every new pro athlete should know.

Asset Protection

Discuss trusts, living wills, and powers of attorney with your money dream team.

Days 61–90: Implementation and lifestyle

At this point in your first 90 days after the draft, you’ve assembled your team and set up your defenses. Now it’s time to go on offense by putting your plans into action and creating routines that support both your career and your lifestyle. This phase is about investing wisely, setting spending boundaries, and planning for life after sports.

Begin implementing an investment strategy appropriate to your goals and risk tolerance

Early investments compound over time, giving you a serious advantage. Fund retirement accounts (401(k), Roth IRA, etc.) and diversified portfolios.

• Stocks. Consider opening a brokerage account to buy and sell securities.
• Investments. Begin with small, regular investments to benefit from compound interest.
• Retirement accounts. Prioritize diversified portfolios and retirement accounts, like a 401(k) if available through your league or team.

Plan for early retirement

An athletic career is often short. Plan for a second career and ensure your investments are on track to support you after sports.

Follow a lifestyle budget

Define discretionary spending limits for travel, gifts, and other non-essentials. This prevents lifestyle creep from sabotaging your financial goals.

Have a family plan

Structure support for family and friends without unplanned handouts. This balances generosity with financial discipline and avoids relationship stress.

Continue building your financial literacy

Don’t be afraid to ask questions. The more you understand tax planning, investment strategies, and asset protection, the more informed your decisions will be.

Bonus: Pro-tips for the first 90 days after the draft

• “No” is a full sentence. Protect your wealth and time; declining requests is part of financial maturity.
• Prioritize the long-term. Resist immediate gratification. Your future self will thank you.
• Automate everything. Savings, investments, and taxes should flow automatically. Remove decision fatigue. A financial advisor can help coordinate these efforts.

Apogee Professionals does not provide legal or tax advice. Tax, legal, and other specialized services are provided by independent professionals. Coordination services do not imply responsibility for third‑party outcomes.

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