USA Today, a survey conducted by investment services firm TD Ameritrade, showed that nearly 20% of families in the US spend more than 12,000 USD per year for each child to participate and practice sports. This is a statistic for parents aged 30 to 60, with investments reaching $ 25,000 and having children playing sports at a young age.
Also according to the survey, most American families (63%) spend between 100 and 499 USD for a child every month to play sports. Another 15% spent between US $ 500 and US $ 999, 11% spent US $ 1,000 to US $ 1,999, and 8% of people were willing to spend US $ 2,000 or more for their children’s sports careers. To do this, 55% of the respondents said they had to sacrifice their entertainment, 40% said they would travel less, and 23% admitted using their retirement budget.
That they risk themselves like that also has a reason. First, many financial experts tell USA Today that these are the right spending decisions, physical training and toughness for the next generation. In addition, like the Davis family, they want their children to someday become sports stars. And then there will soon be payback.
The United States has a different style of sports development than most other countries. They have four subjects called the four pillars, the most famous among young people in the country including: baseball, basketball, rugby and football. Most of the stars who play in expensive tournaments later like the NBA basketball or rugby league are the ones who come from sports at junior high, high school and college.
It is an explanation for parents to determine their children’s future early and be willing to pay for their children to benefit later. However, on the contrary, for people like former baseball player Mike Trombley, who now runs Trombley Associates investment and retirement plan, parents should carefully consider and retire money first. when investing.
The fact that the school sports thrives will improve the quality of the major tournaments, but means that the level of competition is too high because the big leagues are not enough room for all.