Wealthy clients like golf star Justin Rose worry about this, too

Just because Mandell Crawley’s clients may have considerable wealth, doesn’t mean they aren’t worried about the same things less well-off people are when it comes to financial planning.

“Longevity risk is a big issue,” Crawley, who is head of Morgan Stanley’s private wealth management, told Yahoo Finance. Clients are most worried about ensuring their wealth survives their lifespan but also investing in a way to take care of future generations, Crawley said.

Sounds like the average person’s concerns. Not really. One of Crawley’s strong relationships is with 40-year old golf star Justin Rose, who shares the same concerns.

Rose has won 22 tournaments over the course of his career, pulling in close to $51 million. That includes a sexy $10 million check last year for winning the FedEx Cup. Combined with money from endorsement deals such as a new one from Walmart-owned clothing brand Bonobos, Rose has a few bucks to put to work to care for the future of himself, wife and two young kids.

Justin Rose, of England, tees off on the 12th hole during the first round of The Players Championship golf tournament Thursday, March 14, 2019, in Ponte Vedra Beach, Fla. (AP Photo/Lynne Sladky)

Justin Rose, of England, tees off on the 12th hole during the first round of The Players Championship golf tournament Thursday, March 14, 2019, in Ponte Vedra Beach, Fla. (AP Photo/Lynne Sladky)

Rose’s advice to those entering their financial planning years? Drown out the abundant amount of noise.

“You can talk to many people and get many different answers and get yourself confused — there is always someone with a great system, someone up 10% in a month,” he said. “Just try not to get push and pulled around and trust the people around you.”

On his wealth, Rose is thinking about the future, too. “If you listen to my wife, it’s all going to charity and the kids will start from scratch,” he said. “Obviously there is an element of truth to that, but clearly we want to work out ways so they are taken care of.”

Brian Sozzi is an editor-at-large at Yahoo Finance. Follow him on Twitter @BrianSozzi

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