Yahoo Finance How one woman saved Michael Klim and Jude Bolton from financial traps
The public has seen famous athletes like Michael Klim, Jude Bolton and Kyah Simon as finely tuned performers in elite competition, so many would be surprised to learn they can have money troubles just like the rest of us.
One award-winning finance chief executive is tackling this reality to help some of these sportspeople while trying to teach us a lesson or two in personal finances.
The boss of financial firm OneVue - and 2018 Women in Finance CEO of the Year - Connie Mckeage has recorded her experiences in assisting former swimmer Klim, AFL player Bolton, soccer star Simon, rugby union international Michael Foley and athletics champ Madison de Rozario.
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And that footage will now be broadcast as a television show to show the average Joe how they too can help get their finances in order.
"Madison de Rozario basically said 'If I don't win this race, I can't pay my rent next month'," Mckeage told Yahoo Finance.
"They are hugely successful but it doesn't mean it doesn't mean they're successful at managing their money."
Mckeage said that Australians will relate to seeing their sporting idols in such a vulnerable state.
"They share their challenges so that people feel better if they feel uncomfortable around money… People are ashamed that they don't know anything about it."
The show, titled Secrets of the Money Masters, will show each of the sports stars assisted by a financial advisor and a 'Money Master' who will help them invest a $10,000 portfolio.
With interest rates at historic lows, Australians can no longer simply park their money in the bank to invest. More sophistication and a long term vision is required, according to Mckeage.
"That's why education is important… You have to find other kinds of instruments to invest in other than term deposits and cash in this kind of environment."
Mckeage started her own journey in the financial world purely by chance. She was a university student looking for a book on backpacking through Europe on $10 a day, when she spotted another title on the same shelf.
"Next to it was how to find financial freedom for $5 a day - so I bought both books."
Similar to her experience, she hopes Secrets of the Money Masters will wake some Australians up to start proactively managing their money.
"If this show affects one person where we change their life, honestly that's enough for me. Because that's one more person that takes control of their future and isn't reliant [on assistance] or doesn't end up homeless."
Secrets of the Money Masters is a five-episode series premiering on the Nine Network on Saturday June 29.
