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Pro Golfer Patrick Cantlay on Making a Financial Plan, the Best Advice He’s Ever Received, and More

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Patrick Cantlay is one of the fastest rising golfers on the PGA Tour. He’s racked up two Tour wins at the age of 27 and, as of January 31, Patrick has reached seventh in the Official World Golf Rankings. 

Patrick’s success and potential on the golf course are not the only reason we’re excited to work with him. 

Marcus is excited to team up with Patrick because we stand for similar things, chief among them determination. Patrick works tirelessly to put forward strong performances on the golf course; Marcus is dedicated to delivering best-in-class products for our customers.  

We spoke recently with Patrick about the importance of having a long-term financial plan, how he manages his money and the best advice he’s ever received.

I’ve had to learn to develop a lot of good habits financially over the years to get to where I am today, and I still have a way to go. 

Q: How do you plan financially as a professional athlete, especially with an evolving golf landscape? 

A: I always have an eye toward the future. With golf, like all other sports, injuries can knock you out indefinitely. I know because I’ve had my share. And the competition doesn’t slow down, it keeps getting better. Golf has a short game and a long game, and in order to be successful you must have a plan for both. You can say the same thing about taking care of your finances. There’s short-term and long-term financial goals. 

I work hard to stay healthy and hone my craft so that the success I have on the course today will pay off for me and my loved ones in the future, when I no longer play this game. 

Q: That sounds like an even-keeled approach to finances. How did you adopt that mindset? 

A: Well, I’ve had to learn to develop a lot of good habits financially over the years to get to where I am today, and I still have a way to go. 

When I turned pro I was just 20 years old and two years away from graduating college. I still had some financial support from my parents. The biggest responsibility I had back then was to myself, to becoming the best golfer I could be. Really, it wasn’t until I started earning money that I took on more responsibilities, including my finances. 

Q: What’s the best money tip you’ve ever received? 

Know where all your money is and what it’s doing. My grandpa told me growing up that I at least need to know what I have before I can decide what to do with it. I think that’s very important for everybody to understand - what they have and what they want to achieve with it. 

It might be an oversimplification of how to manage money, but I find it pretty straightforward. Over the years I’ve begun to ask questions and seek financial advice from people more qualified than me. I’m comfortable with the balance of following my own finances as well as relying on their expertise. It feels good to be able to say I understand where my money is held and invested, and how it’s performing. 

Q: What’s a money tip you would offer other golfers starting out, or people in general? 

Well, there are certainly people more qualified than me who can answer that question! But I’d say my money tip for others is to plan for the future that you want and be educated about what it takes to get there. 

It can be something as simple as knowing your savings account interest rate, that way you can make sure your money is working as hard for you as you want it to. It’s not dissimilar from what I do on the golf course, making sure all the angles are covered so I can play my best week each week. After I’ve figured out a plan, I can focus on executing it and staying the course. 

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This article is for informational purposes only and is not a substitute for individualized professional advice. Articles on this site were commissioned and approved by Marcus by Goldman Sachs®, but may not reflect the institutional opinions of The Goldman Sachs Group, Inc., Goldman Sachs Bank USA or any of their affiliates, subsidiaries or divisions.