Young Athletes Learn About More Than One Kind of Goal

Morgan Stanley’s Victor Olivera brings financial literacy to sports camps

Sports camps — summer or otherwise —don’t play out only on the court and in the dining hall — at least not when adults like Victor Olivera get involved.

Three years ago, the Morgan Stanley adviser began sharing his passion for financial literacy with young athletes and students. He now does about eight to 12 programs a year.

“But I’m seeing that number increase as demand for financial education programs and presentations has grown,” said Olivera, who offices in the Park Cities and serves as global sports and entertainment associate director.

“We’re seeing increasingly more professional, college, and high school level sports leagues explore the integration of tailored financial education into their programs, as well as professional athletes incorporating financial education into their own private youth camps,” he said.

Working with professional athletes early in his career made it clear to Olivera why many young adults face financial hardships.

“They were not taught nor exposed to fundamental concepts of budgeting, saving, and investing,” he said. 

“Furthermore, with NIL (Name, Image, and Likeness), elite and emerging youth athletes at the high school and college levels now need to learn financial fundamentals at an even younger age,” he said.

Growing up, what were your most significant experiences with camps? 

I grew up playing soccer, and financial literacy wasn’t something that was taught when I was a kid. I loved training with my peers and learning from the coaches, but I wish I had been introduced to concepts in financial literacy earlier in life. I think this exposure would have helped me become a more well-rounded student-athlete and would have likely prepared me for the challenges I would go on to face later.

How does teaching financial literacy differ with teens/children?

Their attention spans can be shorter, and they are more likely to get distracted or, worse, bored. Through my own reps and experience, I’ve learned how to keep them engaged, which is the key, and to tailor the content to help them understand, relate, and communicate at their levels of understanding.

That said, you’d be surprised — some of the teens and children my colleagues and I have encountered, especially in recent years, reveal that they know a lot more than you’d expect them to, and they ask some intelligent questions. They really do want to learn. 

What’s the most valuable financial literacy lesson you have for campers/students? 

Perhaps the most valuable two lessons I continually stress in these forums to them are to ask a lot of questions and start saving and investing as early as possible. Many people think they need a lot of money to start investing, but the truth is, starting with any amount of capital early on can have a significant impact over time.

The power of compounding and investing is undeniable. Seeking out a financial adviser early to be your “coach” can make a real difference in your financial future. Starting small but starting early and consistently is the key.