From Walter Updegrave, What I Told The Next A-Rod, in Money, April 2006:
When it comes to finances, you may not think you 
have much in common with athletes in a sport where paychecks average $2.5 million a year. But much of what I tell these elite players applies to regular folks like you and me, especially these three rules retirement planning.
Control Your Spending
Base your lifestyle on your income after you’ve saved for your retirement, not before. Aim to stick at least 10 percent of our salary in your 401(k) or other savings plan and then adjust your spending to what’s left.
Balance Family And Money
Many big-league ballplayers find themselves deluged with requests for money from parents, siblings and Sally, their second cousin once removed. Often the solution lies in a compromise that satisfies your emotional need to help without jeopardizing your financial security.
Work With Advisors
Do not abdicate responsibility for your money. If you work with a financial counselor, get together at least quarterly to review your progress toward a clearly defined goal, like achieving a certain level of retirement income.
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