Americans invest heavily in school sports

School sports in America are among the strongest in the world. But a new study released last week by the American Association of Sports and Fitness Industry (SFIA) and the Aspen Research Institute shows a pessimistic signal. 

The number of children aged 6 to 12 competing has dropped by nearly 8% in the past decade, according to The Washington Post

Sports for the rich

According to the above statistics, in 2008 nearly 45% of children (6 to 12 years old) played on a regular sports team. This year, this figure is only 37%. It’s one of the three ominous trends for young sports in the US: fewer people join, rising costs and poor coaches.

Mr. and Mrs. Davis recently spent a total of $ 4,800 for 10 days following the progress of their son Ian Davis – turning 14 in August. He participated in the European golf championship for American children – US Kids Golf European Championship 2017 – and finished 32nd in a competition of the age of 13.

Davis and his wife had high expectations for Ian Davis to play the game at age 7, and Mr. Dwight estimated that the investment for his children should be at “six numbers”. Davis – now a vice president of a global information technology company – admits to sacrificing a lot, such as not traveling a lot and withdrawing about $ 400,000 in his retirement fund.

Risky investment?

USA Today, a survey conducted by investment firm TD Ameritrade, found that nearly 20% of families in the US spend more than $ 12,000 per year (more than 270 million) for each child participating in and practicing 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 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 soon “payback”.

The United States has a different style of sports development than most other countries. They have four subjects called “four pillars”, the most famous among young people in the country, including baseball, basketball, rugby and soccer. NBA basketball, rugby league NLF … are people from sports at secondary schools, high schools and universities.

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.

The fact that the school sport thrives will improve the quality of the major tournaments, but means that the level of competition is too high because the big tournaments are not enough room for all.