Mega rich athletes and financial planning for the rest of us

Mike JonesInvestment Insights


Recently I found myself sucked into one of those websites that discloses information on top athletes who made millions of dollars yet somehow lost or spent it all. Those kinds of stories intrigue me and always get me to thinking about personal finances, budgets, happiness and life in general.

After this particular foray into the financial misery of others, my mind was particularly drawn toward a couple of meetings Byron and I have lately had with long term clients.

In just the last month Byron and I have had the opportunity on two separate occasions to meet with long term clients who were announcing their retirement. What made these meetings particularly special is that both couples have been clients of ours for many years. In fact, I know that one of these couples has been working with us for over 16 years! And yes, each couple had taken us up on our offer many years ago to create a financial plan.

As my mind made the leap from the absurdly rich athletes who filed for bankruptcy to these ordinary, everyday citizens, here are some things these two couples had in common which I think are particularly relevant for all of us:

  1. As I mentioned they had a financial plan, which they stuck to with disciplined savings habits and spending patterns.
  2. Each couple had refused the lure of early retirement when reality dictated that the numbers just did not add up.
  3. They also cultivated sources of fixed income which will now be of great benefit to them for years to come.
  4. Each of the couples communicated regularly with one another concerning their finances and also with their financial professionals (us!) as to how they were doing along the path toward this big day.
  5. Most significantly, both couples had a contentment with their financial life and decisions. Unlike the very wealthy and very successful athletes I read about, these people figured out long ago how to live well within their means and be content about it.

Mike Jones is Managing Director / Investment Group of Argent Advisors, Inc. Write to either at 500 East Reynolds Drive, Ruston, LA 71270 or call (318) 251-5800.  This newsletter is available via email on a free subscription basis. You can subscribe by clicking here. Direct any questions, comments or suggestions to Byron Moore at or to Mike Jones at

Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Argent Advisors, Inc.), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.

Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  The opinions of any single advisor do not necessarily reflect the opinions of Argent Advisors, Inc. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Argent Advisors, Inc..  To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing.

Argent Advisors, Inc. is a registered investment adviser registered with the Securities and Exchange Commission. Argent Advisors, Inc. is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice.  Argent Advisors, Inc does not offer tax, legal or insurance advice. If you are a Argent Advisors, Inc.  client, please remember to contact Argent Advisors, Inc., in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services. A copy of the Argent Advisors, Inc.’s current written disclosure statement discussing our advisory services and fees is available upon request.


Argent Financial Group

Celebrating its 30th anniversary in 2020, Argent Financial Group (Argent) is a leading, independent, fiduciary wealth management firm. Responsible for more than $30 billion in client assets, Argent provides individuals, families, businesses and institutions with a broad range of wealth management services, including trust and estate administration, investment management, ESOPs, retirement plan consulting, funeral and cemetery trusts, charitable organization administration, oil and gas (mineral) management and other unique financial services. Headquartered in Ruston, Louisiana, Argent was formed in 1990 and traces its roots back to 1930.

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