Youth Sports Myth #2: Sports, and especially travel and competitive-level sports, are an investment in a future scholarship or contract. This myth has been perpetuated by sporting goods companies, beverage makers, and professional coaches looking to make a few extra bucks. A look at the numbers demonstrates that scholarships and pro contracts are reserved for an elite few athletes whose time, effort, and dedication, combined with their talent and a good dose of luck, led them to the higher ground. For the majority of athletes, there is not a scholarship to be had, at least on the playing field. Since 1947, only twenty-three players who participated in the Little League World Series—the ultimate event for twelve-year-old baseball players—have also played in the major leagues. If you are looking at youth sports as an investment strategy, you are just as likely to succeed in paying for college by playing the lottery, and far more likely to succeed by investing the money in a 529 plan. Investing in your child’s sport in order to pay for higher education and garner future pro contracts is not a good bet. ow.ly/E44by
Posted on: Tue, 11 Nov 2014 14:25:24 +0000
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