UFC: Ben Askren, Eddie Alvarez offer financial tips for struggling fighters to avoid ‘being a slave’
- Askren, Alvarez and Weidman share thoughts amid tumultuous contract talks between UFC and some fighters
- McGregor’s coach Kavanagh also describes the ‘traumatic’ experience talking to green fighters about taxes
Former UFC fighters Ben Askren, Eddie Alvarez and others have teamed up on social media to give retrospective financial advice to the next generation of MMA fighters.
“Dear fighters, Uncle Sam will take 30-50% of your money dependent on state taxes and income bracket. No one will tell you this. Plan accordingly,” said “Funky” Askren (19-2), who retired after experiencing his only two pro-career losses to Demian Maia and Masvidal last year.
“This is an issue [because] fighters aren’t paid as 1099s this received lump sums with no taxes pulled. Many fail to realise their responsibilities,” the 35-year-old Askren added, citing one of the US Internal Revenue Service’s tax forms used to report pay.
“You can write some things off, but at the end of the day that is money that still isn’t in your pocket. Lastly fighters start creating other streams of income so you can stop fighting when you actually want to.”
