Building Financial Champions

Notre Dame Football's Approach to Student-Athlete Financial Empowerment

At Notre Dame Football, we believe that developing the complete student-athlete extends well beyond the field. Our player development program aims to prepare young men not just for Saturday afternoons, but for successful lives long after their playing days conclude.

Now in its second year, our Financial Wellness POD has evolved from a promising initiative to a cornerstone of our comprehensive player development approach. The program's growth and impact demonstrate that our student-athletes recognize financial empowerment as a crucial component of their development.

The Problem Worth Solving

The financial challenges facing athletes post-career are well-documented:

• 78% of former NFL players have gone bankrupt or face financial stress within a few years of retirement

• 60% of NBA players encounter similar challenges within five years

• MLB players file for bankruptcy at four times the national average

These sobering statistics reveal a harsh truth: athletic excellence doesn't automatically translate to financial success. Even generational wealth isn't secure without proper systems and education—70% is typically lost by the second generation, and 90% by the third.

The Notre Dame Advantage

Our student-athletes have a unique opportunity that sets them apart:

• They represent the top 0.1% of earners in their age group

• Basic needs (housing, meals, healthcare) are covered during college

• They have access to the powerful Notre Dame network

• Most importantly, they have time—their most valuable asset for building wealth

The question becomes: how do we help them capitalize on this advantage? Our answer is a systematic approach to financial empowerment that moves beyond basic literacy to build lasting financial habits and systems.

Program Growth and Engagement

Our Financial Wellness POD has shown remarkable growth in its second year, with average session attendance increasing from 44 players in our inaugural year to 55 players this year—a 25% increase that demonstrates the growing recognition of financial education's importance.

Even more impressive is the reach of our program. Across our various financial workshops, we've engaged 91 unique players—87% of our entire roster. This isn't just a small group of financially-minded players—this is team-wide commitment to financial empowerment.

From Knowledge to Action

Many financial literacy programs focus solely on imparting knowledge. Our approach is different—we emphasize the translation of knowledge into action, systems, and habits.

A follow-up survey with our participants revealed compelling data about the program's impact:

• 94% reported that the Financial Wellness POD improved their financial knowledge

• 91% have implemented specific strategies learned in the POD

• 83% have opened a high-yield savings account

• 74% have established a separate account specifically for tax obligations

• 65% have started a retirement account (Roth IRA or similar)

• 61% have set up a dedicated investment account

These aren't just accounts being opened—they represent the beginning of lifetime financial habits. The fact that 83% of participants report having a clear system for allocating their income demonstrates that we're not just teaching concepts; we're instilling systems.

The Three Pillars of Our Approach

1. Cash Flow Management: The Foundation

The first phase of our program focuses on establishing proper cash flow management—the foundation of all wealth building. We teach our student-athletes:

• The three-account system (Operating, Tax, Growth)

• A reimagined 50/30/20 rule tailored to their unique financial situation

• How to work backward from income to allocate funds strategically

Rather than following conventional budgeting advice, we've developed a system specifically designed for high-earning young athletes. For example, with substantial NIL income, our model often shifts to putting 50%+ toward growth rather than the traditional 20%, capitalizing on their current low expense situation.

2. The Growth Game: Making Money Work For You

The second phase focuses on wealth building principles:

• Understanding that money is a tool for freedom and owning your time

• Learning the power of compounding and the value of starting early

• Developing tax strategies through various account structures

• Building disciplined investing habits through index funds and diversification

Our student-athletes learn to distinguish between active money management (which rarely outperforms the market) and strategic, disciplined investing approaches that build wealth consistently over time.

3. The Athlete CEO Mindset

The final phase cultivates an ownership mindset:

• Viewing themselves as CEOs of their own enterprises

• Understanding how to structure a support team (agents, advisors, etc.)

• Learning to identify incentive structures and align interests

• Building a personal "family office" approach to wealth management

This holistic framework emphasizes that the same discipline, focus, and strategic thinking that creates success on the field translates directly to financial success.

Areas for Continued Growth

Our survey data reveals both our successes and our opportunities. While we've made tremendous strides in financial knowledge and account establishment, we have room to grow in several areas:

1. Investment Strategy Implementation - While 78% understand investment basics, only 65% have begun implementing an investment strategy

2. Tax Preparation Confidence - Understanding tax obligations scored slightly lower than other confidence metrics (3.8/5)

3. Financial Services Evaluation - Players rated their ability to evaluate financial advice and services lowest among confidence measures (3.7/5)

Looking Forward: The Next Evolution

With these insights in mind, we're expanding our financial empowerment programming to include:

1. Progressive Development System

   • Foundational: Account structure, basic investing, tax fundamentals

   • Intermediate: Investment strategy, tax optimization, business structures

   • Advanced: Alternative investments, estate planning, wealth preservation

2. Enhanced Alumni Integration

   • Strategic matching of players with financial mentors

   • Industry immersion experiences

   • Structured networking with alumni in finance and wealth management

3. Personalized Implementation Support

   • Individualized follow-up system (requested by 70% of participants)

   • Peer success stories and mentorship

   • Focused workshops on investment implementation and tax preparation

The Notre Dame Difference

The real transformation in our program happens through a four-step progression:

1. Knowledge becomes confidence

2. Confidence drives action

3. Action creates systems

4. Systems build wealth

What we're building goes beyond basic financial literacy. We're creating financial champions who understand that:

• Money is a tool for freedom and impact, not just consumption

• The habits and disciplines that create success on the field translate directly to financial success

• Their greatest financial asset isn't their current income but their time horizon and compound growth potential

• The network and knowledge available to them at Notre Dame represent an unprecedented opportunity

The ultimate measure of our success won't be visible for decades—when our former players build sustained wealth, create generational impact, and break the cycle of financial challenges that have plagued professional athletes for generations.

That's the long game we're playing. And at Notre Dame, we're playing to win.