The LAB

The LAB The L.A.B.247 (Life After Basketball) was created to assist athletes along their journey to financia

When a player signs a big fat contract during free agency every summer, you would think he would be ready for life.⁣⁣ Often times, these contracts can be significant. That said, 60 percent of NBA players file for bankruptcy five years after retirement.⁣⁣
Sports Illustrated cites risky investments, misguided confidence, family problems, and provision of an athlete’s friends as the top reasons why p

layers go bankrupt after retirement.⁣⁣
In other words, professional athletes are not well equipped to manage their finances.⁣⁣
The reason for this is simple. There are only 13 states that offer financial education programs at the high school level in the United States.⁣⁣
In addition, 34 percent of African American NBA players grew up in households that earn less than 150 percent of the poverty line. Financial literacy courses are most likely not stressed in these low-income regions.⁣⁣
This is a problem that needs to be addressed. A nonprofit organization called Moneythink, co-founded by Ted Gonder at the University of Chicago, is doing just that.⁣⁣
They’re helping to raise awareness about financial education in the inner cities so we don’t have to read depressing stories about guys like Allen Iverson and Scottie Pippen who ruin all their fortunes.⁣⁣
In fact, his efforts have been recognized by the White House. They have been selected as one of the 15 finalists out of 1,400 applicants for the White House Champions of Change Awards.⁣⁣

12/23/2020

Good info from Shaq! Call us at The LAB 247. We will help you secure your financial future! (310) 361-9177

12/21/2020

The L.A.B.247 (Life After Basketball) was created to assist athletes along their journey to financia

12/15/2020

12/07/2020

At Life After Basketball (The LAB247), we advise you on the best ways to secure your financial future as a current, retired or future athlete. The LAB247 was created to assist athletes along their journey to financial literacy. Our goal is to inspire generations of athletes to take control of their financial future. We understand that we are living in uncertain times, and we are here to help create peace of mind for you and your loved ones.

The L.A.B.247 (Life After Basketball) was created to assist athletes along their journey to financia

11/20/2020

At The L.A.B. we advise you on the best ways to secure your financial future.

11/12/2020

We are a financial service firm devoted to players and former players. At THE L.A.B. (Life After Basketball) we, as former players ourselves, advise ALL athletes on the best ways to secure your financial future.⁣⁣

10/22/2020

The L.A.B.247 (Life After Basketball) was created to assist athletes along their journey to financia

Check us out on ABC7 Los Angeles. Thank you to Ashley C. Mackey for helping us get the word out.
10/15/2020

Check us out on ABC7 Los Angeles. Thank you to Ashley C. Mackey for helping us get the word out.

Two retired professional basketball players started a business to teach financial literacy to other athletes.

10/15/2020

10/03/2020

Address

11835 W. Olympic Boulevard
Los Angeles, CA
90064

Telephone

+13103619177

Website

Alerts

Be the first to know and let us send you an email when The LAB posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The University

Send a message to The LAB:

Shortcuts

Share