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What should a young athlete do with hundreds of millions?


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In the weekly chat about sports and money, our financial insider Leonard Raskin joins Nestor to discuss what happens when big money and pro athletes collide – and how to invest in your future.


money, week, years, baseball, great, brian roberts, ravens, baltimore, day, raskin, hit, throwing, home, game, players, hitter, talking, watching, retired, earnings


Leonard Raskin, Nestor J. Aparicio

Nestor J. Aparicio  00:01


Welcome home we are W n s t test Baltimore and Baltimore positive we are positively into what really is a great week we got the Ravens practicing out of your own 90 degree days and running around before giving you a little a little taste of Kansas City in football season and of course the Orioles home all week long with the Braves in Phillies in Yankees in next week are going up to the Yankees next week. We’re gonna be doing the Maryland crab cakes. We’re all week long. We’re gonna be a Coco’s on Wednesday. We are going to be down at Cooper’s in Fells Point on Friday for Fleet Week which we’ve been promoting all week with Patrick Russell suburb of France all brought to you by the Maryland lottery conjunction with our friends at Jiffy Lube multi care and liberty pure solutions in the form of our sponsors who make this thing happen this guy was out golfing and then my wife broke her ankle and we didn’t connect and and he’s doing this and then he gets my wife a wheelie and he is letter Raskin he is reskin global handling the American dream as well as not just money but insurance and thoughts and management and what to do with your dough and keep it away from Uncle Sam. Amongst other things. Hey, Oreos, get more your money during this homestand I mean, the boys home now I know all of this. There are not a lot of years where you can celebrate a team that’s this good. They’re really good. They’re

Leonard Raskin  01:17

really good. And we might we might end up I think they’re playing Father’s Day. Father’s Day might be sold out. I might have heard somewhere that the weekend series is sold out or something.

Nestor J. Aparicio  01:29

There’ll be people coming down here from Philadelphia now. You know, it’s gonna be a little crazy. You’re wearing red right now. You didn’t turn on me, did you? No, no,

Leonard Raskin  01:37

no. Just just the Raskin global red you know, that’s gotta go with the red morning shirt.


Nestor J. Aparicio  01:43

Make sure you don’t some Bryce Harper thing. Yeah. Oh

Leonard Raskin  01:45

my god. No, but there are data top team in baseball right now.

Nestor J. Aparicio  01:50

Well, they’re pretty good. And, you know, I mean, the Yankees are pretty good too. I mean, for this weekend with the Dodgers, but it helped. It helped. You know, when we start comparing these players like I had Luke on us when we’re talking to 20 home runs for Gunnar Henderson. And I put the math on this. I’m like, wow, the All Star game still like four and a half weeks away. He might have 30 home runs at the All Star break. And then watchmen naxian Six, and he’s running my my boy, John Martin around trying to figure out how to pay five grand for every one of these grand slams, right here. A lot of letters.

Leonard Raskin  02:20


They got some

Nestor J. Aparicio  02:22

I know, but this is doing things that are generational in a way that maybe your 20 year old kid understands it. But 55 year old self understands what this year represents.

Leonard Raskin  02:35

My son actually enjoys watching the games. He’s He’s liked. He said he likes baseball, and he’s enjoying watching and he knows players which kind of crazy, you know, like, I don’t think there’s been a year he’s 22 Nester 22. And there hasn’t been a season in his lifetime that we have sat, watched the game and he knew more than one or two players on the team. Like he had a favorite. But that was it. And, and he’s, he’s into it. He knows who these guys are. He’s happy what they’re doing. It’s fun. It’s, it’s what baseball is supposed to be in a summer in Baltimore. It’s pretty damn fantastic. Yeah.

Nestor J. Aparicio  03:17

It’s always supposed to be like, Oh, this is the fun if you compound this kind of fun over 30 years, as opposed to what we live with here. But But onto these plates. Do you have a favorite? I mean, are you I mean, you watch the team play five days a week. I know now that hockey is on the backburner and the caps are gone, that you have some focus on this, but I There are so many good players. It’s just toss this eatin crap. So many people are moving, right? I mean, everybody feels bad. Mullins is tripping and falling and kick. And then he has a couple of hits and people are on to that every day. They see no hitters twice a week. They got guys throwing no hitters in the fifth inning. Perfect game.


Leonard Raskin  03:55

Perfect game through five no hitter through almost six. And that’s just it’s the pitching is where it’s at. Let’s face it pitching is it. They’ll score runs, they’re going to score runs because everybody up and down this lineup. I mean, who’s not hitting Mullins had a little slump? Okay, so a week he didn’t hit well a couple of weeks, but he’ll be fine. But you look at it Westberg Santander ureas everybody’s hitting the ball. There isn’t a guy out there and and it’s, it’s stunning. Watch. Gunnar Henderson dude throws a ball away at first base, kind of what the heck, and the guy makes plays that you just shouldn’t make. So when he throws one away on on a heroic effort, it’s kind of unbelievable, but you don’t see errors on the field. You don’t see you see maximum effort. Guys are all out. When they’re when they’re on defense. They’re

Nestor J. Aparicio  04:55

likable dudes to this isn’t Manny Ramirez and Sunoco grouchy guys, for the most part, I mean, these are guys that this is young and pure and real, and they’re going to get wealthy but right now they’re only rich because I see the signing bonuses I’m making, you know, a couple million dollar signing bonus for you know, all these guys come on. I feel like they need to make money. They all have a guy like you trying to figure out what to do what they’re hoping,

Leonard Raskin  05:21

right? Here’s hoping for their sake, but they’re Yeah, they’re all they all get in coin in the in the percentile of earnings in our country and certainly in the world. You know, they’re, they’re all top 1%. Guys don’t nobody’s crying for these rookies that don’t have their second contract or whatever it is. I mean, they’re all in the top 1% Making coin, and then you look at who they got to sign. And you start going through that race and you say, Okay, who’s, who’s the man gonna write the check to? Who’s gonna be first?

Nestor J. Aparicio  05:58


If you said A whole gutter Anderson’s money, what do you tell him to do? What’s the best overall advice? If you’re, if you’re about to become wealthy? Is it diversify? Would that be it? Would that be the first thing you would tell people find somebody you didn’t ask first thing, right?

Leonard Raskin  06:13

But first thing is by somebody you can trust. But when you have that much money, the question is, When are you going to focus on the money? So here’s my hunch. He can’t focus on the money in any way shape, or form until he’s retired. Really, you can’t. And when you have that much money that’s going to come a treasury bond, paying three or 4% That’s it. What else do you need? You don’t need to grow your money when you have Lamar money. Okay, who, whose side? This is interesting,

Nestor J. Aparicio  06:49

because I see you as like the greedy Republican guy more and more and more. Hey, 100 million.

Leonard Raskin  06:57

Joe and Hunter Biden are pretty greedy Democrat guys.


Nestor J. Aparicio  07:01

I’m saying money miser on we got 100 million. Let’s make it 300. Yeah, but it’d be a fascinating point is this isn’t talking about an asset, you’re 22 years old, you got $100 million.

Leonard Raskin  07:14

You can’t focus on it. Now, if in the offseason, you get risky or when you want to look at how you’re gonna buy a business or what what your fantasy is after baseball, to invest in, you want to invest in some, some venture capital, there’s some companies that you want to help start up and be an angel investor, or do something wonderful for the world or things like that. Great. We can take a million or two and make somebody’s day in an investment opportunity. But if you don’t know what that is, okay, we can put it in an s&p 500 index and get some growth in the market over the long term, but you don’t need it. There’s no need for that. If you want to really do business, that’s a different story, but we don’t need to see 100 million grow a whole lot. Especially not while your foot when you’re throwing

Nestor J. Aparicio  08:05

your money just by showing up and hitting the ball or catching throwing the balls. Right. And I mean, look at Joe Flacco right. He made all that money the day he signed, yeah, clear that 100 and 40 million or whatever it was that the shotty paid him. And from that day forward, he’s damaged goods. He’s washed up, he should retire 34 He got hit in the head by KIKO Alonso he’s on for six no more this year. Should I look at his earnings and see what Joe is made as a part time backup, whatever, whatever.

Leonard Raskin  08:40


bands made a bet. I bet I bet he’s made 40 million since he left maybe Easy, easy. 40. And he didn’t he just signed with the early days.

Nestor J. Aparicio  08:50

Right and I’m saying he for four and a half million dollar contract less than $7. But I’m looking at the sport track for Joe does. I want to see how much money Joe has made. He’s

Leonard Raskin  09:00

because Denver he’s been with the Jets. He’s been with the with the Eagles. Yes. He’s been with the browns. Don’t forget the brown browns. I mean, the guy is I bet he’s made half of what he made in that last ravens contract. He’s

Nestor J. Aparicio  09:16

made 175 million in career earnings. There you go. So hold on, here we go. When he left the ravens, he was on a $12 million deal at the age of 33 because he had all that bonus mine. Yeah. 30 million up front. So it’s 3021 1129 2112 and he left? Yep, he had 18.5 Yeah, and that Broncos, right? 1275 with the Jets. That’s 20 Nother 3.5 Total between the Eagles are 3.3 with the Jets. That’s 27 Last year it was 1.11 point 28 Whoo. All right, and then this year four and a half


Leonard Raskin  10:03

3232 and change.

Nestor J. Aparicio  10:07

You are doing a math your exact so I thought you see,

Leonard Raskin  10:10

he’s he’s in the 33 range after he was washed up a

Nestor J. Aparicio  10:15


lot of money. It’s a lot of money and you know, anybody that’s made $33 million personally in the last six years that’s washed off. Nope, in salary not in like, putting money like it’s, it’s silly money. It’s made

Leonard Raskin  10:30

a lot of money. And God bless him. He’s got a lot of mouths to feed God. But to your point in your you don’t need to make that first

Nestor J. Aparicio  10:38

100 50 million he had, he didn’t need to be out risking that. And

Leonard Raskin  10:42

hey, Mr. Lester, I saw a guy do a presentation at a conference. This was 20 years ago, 15 years ago, before now, before COVID? How about that before COVID. Anyway, this guy got up on stage and said he was a billionaire. I was a billionaire, why I did a start up, I made a billion, I had a billion dollar plus net worth. And I let people tell me what to do with it. They invested it for me. We invested in companies that we didn’t I didn’t know about. We invested in all kinds of who knows what. We bought houses, we bought planes, we bought helicopters. We went on trips, I traveled the world, I had an entourage everything. And what he said in this conference was, I wish I’d had one of you to tell me how stupid I was to do this with the money. He said I should have taken 50. And then here’s what he said, Here’s what he said, Don’t cry for me. I still have about 50 plus million. He was a billionaire. He said nobody should cry for me, I still have 50 million plus. And I can be a billionaire again. Because I can start a company companies and do this again. But I have to do it now. If somebody would have told me, just be safe. Don’t worry about all this other stuff. Take 100 million and play like you’re a Playboy and take 900 million and just put it in a diversified index fund and some bonds. I’d be a billionaire forever. Never have to think about it. But people don’t think that


Nestor J. Aparicio  12:26

you’re a billionaire. You want to be a billionaire forever. But you really want to be a trillionaire. Right?

Leonard Raskin  12:30

Right. There’s a big difference. But it’s interesting, you Chadli

Nestor J. Aparicio  12:34

to make a lot of money because like, I know a lot of athletes that make a lot of money. So do you you shake a lot of hands? Thanks. You wonder how much they have left? Yeah, that’s

Leonard Raskin  12:45


right. years after their athletes that don’t have a lot of money. They get taken all the time. Sadly, people tell them to do things or advise them to do things or whatever it is. They get taken by all kinds of scams, their best friends, their family, money drains out of their fingers so fast. And the problem is, most of them have no mindset for money. It’s not where they came from. You know,

Nestor J. Aparicio  13:20

I’ve heard Bushati talk about this, that you’re never going to be smart enough to manage your own money because you’re a football player. And you haven’t studied it your whole life, the 10,000 hour rule. You know, whatever that expert, here’s a great example like you and I have fun last week out on Facebook, right? Yeah. I haven’t talked to you in like two. Yes. Yeah. So because I missed the golf tournament, my wife gronckle. How was we’ll get to that in a minute. I’ll get to yeah, get me to the golf club. I was a golf club. Let’s

Leonard Raskin  13:46

get this outstanding was outstanding. The course at Hillandale was beautiful. We had 100 And when did we have 24 hit about 120 Some golfers out there. Food was great. The country club did a great job. The The weather was perfect. Dude, it was so beautiful Baltimore. Chamber of Commerce kinda day. It was sunny. It was little overcast. No humidity. 7580 degrees weren’t sweating, weren’t cold, didn’t rain was absolutely beautiful. The course was in great shape. And I think everybody that played had a great day. And yeah, it was just a good time. And then great dinner. Great silent auction. raised a lot of money for the hospital. I don’t know the final numbers. Yeah, Mt.

Nestor J. Aparicio  14:47

Washington pediatric hospital. They’re all over the place out there. And they try to express to everybody what they’re doing for the kids and try to show everybody what you’re doing for the kids. You go to the website, and I don’t know I don’t have time. You don’t have to sit through the call. All right now Washington batch, right anytime.


Leonard Raskin  15:02

I don’t know if you knew this or not, I don’t believe I knew this. I had heard this in the past a little bit. Brandon Williams and his wife, their son was born shortly before he was drafted by the Ravens. And their son has some issues as a child physically issues. And they, he was a patient at Mount Washington, his son. Okay. And I believe Brandon Williams absolutely for some continuing assistance still is patient in Mount Washington. And Brandon and his wife were at the at the dinner, oh, talking about their son. And the day before the tournament, the hospital dedicated a lobby, the lobby of the new activity center. In Brandon and his wife and son’s name. There’s a guy there that made some money in the latest great donation.

Nestor J. Aparicio  16:02

And, you know, I was just when we were talking about with athletes making a difference

Leonard Raskin  16:05

right? Back and lots of do. Lots of them do but But too many of them, sadly, ended up career over, wealth gone. And they just, they didn’t hold on to it. They didn’t listen, they didn’t have advice, or they didn’t take the advice. Look, I’ve talked to lots of guys over the course of their careers. They don’t want to hire me, because like you said, they want to spend it all. They want to do what they want to do with it. And they got great ideas of what to do with it. And what I want to do is make sure they have a continuing salary for the rest of their lives, no matter what post to play. And so they

Nestor J. Aparicio  16:51


don’t have to wake up and think about what they’re going to do or what their contribution is going to be. Yeah, it’s interesting. You’d say this because I was about to segue before we got to the golf tournament last weekend and Ellendale been two weeks since I’ve seen you I made a comment about Brian Roberts and his tan and him looking like a man with a movie star. Yeah. And he came on he was he was real good at the commentary. I love the Olsen more than let’s say Brock and I don’t know Brock. I know Brian Roberts pretty well. I know Otto really well from 30 years of relationship and us being the same guys. But I probably spend my radio station I’m sure it’s it’s a wonderful guy was a wonderful guy when he was fighting with Jerry Hairston for playing time when he was, you know that he becomes like his father wanted him to be a star, right? And he got paid. And when you Google his name, the $40 million contract pops up. But I looked at him and I thought here’s a guy that got hit in the head and had the game taken away from him. And then that freak accident happened with the tail and circle which was yeah, it was crazy. And you know, I looked at at Brian Roberts, Brian Roberts made $64 million playing baseball. Yep. And right. And I’m thinking to myself, no wonder he looks like a million bucks. He’s laying at the pool. He’s watching baseball. He’s loves baseball. He gets to come back and do this. That to me. I hope he’s okay. I hope all of those guys that made 4060 $80 million have a tan have a guy like you are living their best lives in Florida or wherever they are. You know, think

Leonard Raskin  18:18

about the guys from back in our day when we were kids. They work second jobs, man.

Nestor J. Aparicio  18:24

Oh, our Donovan would always talk about Bryce dad great job at the beer plant.

Leonard Raskin  18:29

That’s right. This was this was enough. They made money because they played baseball but they were playing a game they weren’t of the era of wealth. And they made more than the average guy it’s a steal. It’s a Hall of Famer they work right alongside the guy the


Nestor J. Aparicio  18:42

last 30 years of his life signing autographs to make money because that’s that’s right what Brooks Robinson and he had the That’s

Leonard Raskin  18:48

right. That’s right so you know is this is this is a short lived phenomenon it and you don’t have to look too far to football. Let’s face it. It wasn’t five years ago maybe three when was the first time you heard a guy make 100 million with 60 million guaranteed guaranteed contracts and football did not exist until the very recent past and so these guys that man they’re crushing it and and good for them I don’t begrudge any of them they make the teams make so much money from gate from Jersey from TV from whatever it is the players are certainly the product and certainly deserve to get paid I just would hope that they would make smart decisions with it and sadly there’s too many stories you can read about guys retired broke guys and I’m not talking we’re talking you guys retired bankrupt we’re talking guys retired broke it’s it’s it’s sad.

Nestor J. Aparicio  19:55

Well it happens all the time. Absolutely. And that’s where like you come in let Raskin is here. Ross Hello, I don’t know where we we got started on baseball and then on the money and

Leonard Raskin  20:03


gutters, contract gutters contract, what you would tell I would tell them to do and you tell them to play baseball, low and slow and play baseball. And when you’re done, it didn’t hurt you that it only earn 4% A year 6% A year for 15 years who carries nibbles go forward, you never went. That’s right. And then and then when it’s over, then we can talk about what you want to do with the rest of your life. And you can focus on it because now you got time to think about it and make smart decisions and not invest in crazy stuff that people have told you is the greatest thing in the world and you find out you lost your money.

Nestor J. Aparicio  20:42

Well, look, dude, I mean, not to be mean during training camp week. But you and I talked about Lamar this time last year and his money, his mother, we talked about it incessantly. And then he comes out with one endorsement. And it’s this crazy contraption that looks like a John Bass style ad in the middle of the night. And you just have to say out loud, where Where are you getting the advice? Who hopefully who’s who’s around you if you have no one around you and ready. We’re all concerned about Lamar last year, just the optics of all of that was a little weird. Yeah. And you know, now you got gutter hitting home runs for pizza for people. And, you know, we’re all trying to get into, you know, Reuben splashes pocket and saying, what’s the first 250 million he’s gonna give? Is it going to be Henderson? Is it going to be rutschman? Who’s gonna want

Leonard Raskin  21:27

milk company step it up for Couser right? Move. Watching. We’re watching everybody and there’s movement. We’re watching Tampa. And Matthew says oh, they crushed it and Matthew goes they’re booing I said that’s Baltimore fans moving? That’s not Tampa fans I

Nestor J. Aparicio  21:44

said out loud over crabs. I’m at the bar there Karen and John are waiting on me we got our crabs in our core my elbows and first off I’m gonna like it’s Rodriguez don’t want to no hitter is that a perfect like that started with that. But you know, the the whole notion of like sitting there and watching all of this take place. And we’re like, pay this guy. Pay that guy. I’m hearing fans talking about who’s getting money for it’s a whole different conversation on a game. But the cows are thing he hits the Tripoli comes up everybody in the things Mulan and I said out loud to them away from like, this is probably the dumbest thing I’ve heard and then I’m thinking like we moved for moose. That’s right, like we move for Randy Milligan moose. Moose. Yeah, we’ve goosed? We’ve he, right. We’ve done all of these things right over the time. So the moose sort of sound like moose like


Leonard Raskin  22:38

right now you’re telling your friends that wise and royal farms. There’s your baseball player. I see Justin Tucker all over selling chicken well Couser could probably sell you some milk

Nestor J. Aparicio  22:53

here you go all right we got the Mid Atlantic no partying Association letter asking to be fatter Raskin is also add on the front of Baltimore positive. He can help you with the American Dream taxes, money. Just a conversation about getting level set and wherever you are in your financial and spiritual journey. This time next week out the orals are first place to beat the Yankees. Leonard, you are coming to me with Pappas in Parkville. Two weeks from now. I will see you next week. And if you want to get together and go to a ballgame, the weather’s good this week. So they’re there we’ll figure it out. Let Rascon global find him out on the web. I am Nestor we are wn st am 1570, Towson Baltimore and we never stop talking Baltimore positive

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