Working Class Athletes: An Analysis of Major League Soccer Player Compensation and the Surprising Results

Working Class Athletes: An Analysis of Major League Soccer Player Compensation and the Surprising Results

Major League Soccer is the fastest growing professional sports league in the United States. After a decade of struggling and the league on life support, the league has rebounded and is expanding teams at an incredible pace.  In fact, my city of Nashville is getting a team in 2020.  I was curious one Saturday night about where MLS stands with team revenue, player compensation, etc. when compared to other leagues.  It turns out, the MLS Players Association publishes player compensation on their website dating back to the 2013 season.  So, I did what I do when I discover information like this – create a database and see what I can find with statistical analysis.  This may sound like the worst Saturday night in existence; but for me, it’s like Christmas morning.

Your 6 Step Checklist When Picking A Financial Advisor

Your 6 Step Checklist When Picking A Financial Advisor

Picking a financial advisor can be a daunting task. "What do I look for? Where do I start? Do I even need one?” These are a few of the questions you may ask yourself when starting the process. Many times, not knowing the answers will stop the process right there. This checklist will help you through this process and know what to look for and ask.

Andrew Luck Retired In The Prime Of His NFL Career. Here Is What You Can Learn From His Decision.

Andrew Luck Retired In The Prime Of His NFL Career. Here Is What You Can Learn From His Decision.

Andrew Luck shocked the sports world on Saturday night when he announced he was retiring from the NFL. The former #1 Draft Pick was in the middle of what many considered the prime of his career. He was widely regarded as one of the top quarterbacks in the league and the Colts were likely going to be a Super Bowl contender for the next few seasons. A player of his caliber retiring at the age of 29 is almost unheard of. The owner of the Indianapolis Colts speculated that Andrew was leaving potentially $500 million on the table by retiring now rather than playing out his career into his late 30s or early 40s like Peyton Manning, Drew Brees, and Tom Brady. 

I thought it would be interesting to see what can you learn from Andrew Luck’s retirement and how you can apply it to your own situation. Whether you are a professional athlete, young professional, or pre-retiree – there is something for you in this post.

A New Stock Market Index for Tennessee and Nashville

A New Stock Market Index for Tennessee and Nashville

I recently wrote about stock market indexes, and began to think about how there are different indexes for countries and wondered if there were any city or state specific ones? As much as I researched, I could only find an ETF for Nashville which has recently been liquidated. Their plans were to launch city-specific ETF’s if the Nashville investment vehicle was successful.

You Are Not A Lottery Ticket

You Are Not A Lottery Ticket

I recently finished “Zero to One” by Peter Thiel. I’m a few years late to it being released, but it has left quite an impact on my outlook. While the book delves into the mindset necessary to build a successful startup, there is one specific chapter in the book that struck a chord with me.

Chapter 6 is titled “You Are Not A Lottery Ticket” and the entire time I was reading it I could not stop thinking about how applicable this notion is to personal finances. I don’t want this post to turn into a full on book report, so I will briefly summarize what Peter states.

Why Not Knowing Your Risk Tolerance Is One Of The Biggest Investing Mistakes You Can Make

Why Not Knowing Your Risk Tolerance Is One Of The Biggest Investing Mistakes You Can Make

Investing for first-time investors can be pretty overwhelming. There are so many variables out there and they can be pretty confusing. There are different retirement accounts, investment accounts, some account let you invest in different things, etc. But perhaps the most overlooked item is not knowing what your tolerance for risk is. And not only that, making sure your investments actually reflect how much risk you are willing to take on.

What Is The Difference Between A Stock And A Bond?

What Is The Difference Between A Stock And A Bond?

When it comes to your own personal finances there are no dumb questions; however, many people are intimidated by the industry jargon, or things they don’t know much about, and thus are very self-conscious to not ask questions for the fear they may come off as unintelligent. I’ve made it my mission to make my company as inviting as possible because I understand how complicated many of these topics can be. So, today’s post is about one of the fundamental building blocks for personal finance. To make this as simple as possible, this post is part dictionary, part examples. The concept is the difference between a stock and a bond.

I Wrote An eBook - Turning Your Music Hobby Into A Music Business

I Wrote An eBook - Turning Your Music Hobby Into A Music Business

Before starting Melby Wealth Management, I was a business manager for 10 years. I helped those in the entertainment industry do everything from paying their water bill to getting a mortgage to creating budgets for arena tours. I saw how an artist’s business impacts their personal life and how their personal life can impact their business. In those 10 years, I learned a thing or two on what works and what doesn’t. I wanted help put that knowledge into some sort of guide to help those artists who are starting out. They know where they want to go, but aren’t quite sure how to get there. This eBook is meant to help them out.