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NBA Pros Can Now Get Their Finances In Order With This New App

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NBA Pros Can Now Get Their Finances In Order With This New App

A few months ago, the NBA launched a mobile app developed by SportsBlog.com, to keep NBA players in the loop about union business and other matters that concern them.

Now, the Players’ Union has taken another step into the cyberspace, teaming up with Personal Capital, an online financial advisory company, to create an app for NBA pros to evaluate and manage their finances. The app seeks to supplement the NBA and NBPA’s financial education program, which is aimed at educating players in finance and retirement options.

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The Personal Capital app, for its part, will help players monitor their spending, track their finances and calculate their net worth, among other things. And, this is not an insignificant thing, especially taking into account that the average length of an NBA player’s career stands around five years – meaning that players need to think about their retirement since a young age.

Players “are living in a very compressed financial life,” Mark Goines, chief marketing officer at Personal Capital, told FOXBusiness.com. “Suddenly, they’re millionaires, and the decisions they’re making now have a much bigger impact. We’re helping them understand that in the context of their daily financial behavior.”

Posted-In: NBA Personal CapitalFintech Sports Tech General Best of Benzinga

 

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