Home Economy How to manage your money like an NHL hockey player

How to manage your money like an NHL hockey player


Stew Gavin, former NHL player and president of Gavin Hockey Wealth Specialists, advises pro hockey players on how to manage their finances.Dane Coote/The Canadian Press

TORONTO — Even before Jamie McLennan made it to the NHL and began earning a top-athlete’s salary, he learned a hard lesson about how “money attracts a lot of good people and a lot of losers.”

While he was still playing in the minor leagues, he and many of his peers invested in a beanie hat company that aimed to sell its wares at the 1996 Summer Olympics in Atlanta. In the end, the company never lived up to its promises and his $5,000 investment disappeared.

“He took our money and spent it, and probably lived high on the hog for a few days,” said McLennan, who went on to be an NHL goaltender for 11 seasons and is now a hockey analyst for TSN.

McLennan’s loss was relatively small, but the story is all too common.


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