Andrew R. Morgan
American physician
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Oct 20, 2026
Episode 21: Get It in Writing – Recruiting Promises, NIL Money, and Building a Financial Team
D
20:04Drew MorganGUEST
We've done the spectrum, whether it's from NIL all the way to more on the senior level side.
D
20:11Drew MorganGUEST
pretty versed in that I mean I think first and foremost it is like Carolyn said like know your structure know how they're gonna be paying you right like let's just say a fictional number if it's a hundred thousand for a nice round number is it a hundred thousand up front is it at the end of the year is it in installments like every contract is going to be different based on athletic department based off coach based off their funding right like what's their budget um so figuring that out um having it in writing and documented so you can plan I think is like your first and foremost because then once you know your structure then whether you're doing it on your own or you seek help from a professional or ideally a team of professionals can help structure your planning best because I think first and foremost the area that almost no one knows about because they don't teach about is taxes like what are you doing about taxes because That is income, as all of us on this call know and have paid a fair share of taxes.
D
21:15Drew MorganGUEST
At 18, though, no one really has, right? And let alone these lump sums, you're getting treated as a 1099.
6 MINS LATER
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27:29Carolyn WesterGUEST
before they approve their deal through whatever the mechanism now that deals have to be approved, right? Recorded and approved so that they least have a basic understanding of what to do with their money.