Financial Resources for Athletes: Amobi Okugo and A Frugal Athlete

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Show Overview:

Amobi Okugo, founder of A Frugal Athlete, joins us on the 5th episode of our Mac Moment series. Okugo talks about balancing life as a pro-athlete, an entrepreneur and a young investor. His online resource A Frugal Athlete, highlights prudent financial decision-making among athletes. 

 

About GFGF:

The Get Found Get Funded podcast is at the intersection of entrepreneurship and social justice where we focus on entrepreneurship as a possible path to wealth creation — specifically for Black and Latinx communities.

 

Featured Guest: Amobi Okugo

According to his website, Amobi Okugo is a first generation Nigerian American who grew up in Sacramento California and has been a professional soccer player since 2010. Despite having been drafted after his freshman year at UCLA, Amboi has managed to pursue higher education by earning a number of degrees.

He has remained a professional soccer player, playing in numerous national leagues, including the 2012 olympics. All the while, making waves in the entrepreneurial space as the founder of his financial literacy platform A Frugal Athlete. According to his website, the platform aims to, “provide a resource to other athletes and those interested in living a life well-spent.” Read more on his website amobiokugo.com. 

 

Website

LinkedIn    

YouTube

 

Key Takeaways: 

  • Have one main focus.  
  • Be intentional when investing, (know who you’re investing in and what you can add.) Hands on investing
  • Manage your time wisely. 

 

Timestamps:

0:59 – Introduction 

2:26 – Balancing being a professional athlete and education

8:47 – Importance of financial literacy among athletes 

13:45 – Past podcast mentioned with Anthony Tolliver

14:05 – Experience of being an entrepreneur and athlete  

16:36 – Investing 

23:55 – How to start investing

25:22 – Should you invest

29:29 – What does Amobi bring to the companies he invests in.

31:43 – Learning from past investments?

34:15 – Philanthropy

36:18 – OkUGo

37:01 – Outro

 

Items Mentioned in the Show:

30 for 30: Broke documentary

GFGF Podcast with Anthony Tolliver:  (mentioned during how to invest)

Crunchbase: 

AngelList:  

OkUGO Venture

Quotes from the Show:

  • “If 60% of athletes go broke that means that 40% of athletes are doing good things… how come we don’t talk about the 40%” - Amobi Okugo
  • “At the end of the day… I get paid to play soccer so I gotta keep that the main thing... As athletes that are in business often say keep the main thing the main thing because it allows you to do other things”
  • “Everybody talks about passive investing... but when it’s your money at stake... there’s no such thing as passive”
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