Tiger Woods … PFS?
I love golf, so of course I was glued to coverage of The Masters on CBS this weekend.
While watching Tiger Woods finish second in the tournament, I flipped through a recent edition of Sports Illustrated and read with rapt interest the cover story titled, "Tiger 2.0." The article focused on Woods' business interests -- his endorsements, the non-profit organization and academy that bear his name, his plans to design golf courses worldwide. And whatever Tiger touches seems to turn to gold. The magazine estimates that Woods will become the planet's first billionaire athlete sometime in 2010.
His secret to success sounds like something my financial planner would say: "It all depends on how much risk you want to take on," Tiger told SI. "The things I do are very conservative. They're one-offs here and there with people who are very good at what they do. ... I guess you don't become billionaires by making bad decisions."
Of course, it helps if your income approaches $100 million per year, but you get the idea. Read more about Tiger's take on finances here, then tell us: Do you agree? What lessons can your clients learn from Tiger Woods the businessman?