So far this year, Denver native Jill McGill has won $281,303 as a golfer with the Ladies Professional Golf Association and is ranked 17th on the LPGA’s current money list.
McGill has earned $1.7 million during her 10-year career and has garnered sponsorships from Callaway, DSW shoe store and Denver-based Imperial Headwear.
The Denver Post recently talked with McGill, 33, about how she manages her finances:
Q: What is your personal investment strategy?
A: The thing about the tour is that we pay all of our own expenses, which is quite a hefty amount at the end of the year. From a business standpoint, we’re all self-employed – there is no health insurance, no retirement plan.
So since my rookie year, I’ve put the maximum amount into an IRA every year. And I have a money manager. I’d like to be more involved in my investments, but there just aren’t enough hours in the day. I’d say I’m a fairly conservative investor. I’m pretty diversified.
I did buy a house in San Diego 2 1/2 years ago, which has been a great investment. The market there is going nuts – it has already appreciated 50 percent.
Q: What is the most stressful thing about your career from a financial standpoint?
A: You never know when it’s going to go – you could get hurt at any time – so you can’t blow it all in one place. Golf is a very volatile type of job because it’s not secure. You want to make sure you have sound investments.
Q: How much do you spend annually traveling to tournaments?
A: The way I figure it, if you’re frugal and you play a full schedule, it’s at least $50,000 a year. But if you’re a little more generous with the locker room tips and a little more high maintenance about hotel rooms, it can easily cost you $70,000 to $80,000 a year.
It’s a tough living unless you’re in the top 70 on the money list – and that’s being pretty generous. But it’s definitely getting better.
The purses are getting bigger. The purse this weekend is more than $3 million, and I think corporate sponsors are starting to see the potential in the tour.
Q: What career do you want to pursue after you leave the tour?
A: I love marketing, and I love brainstorming. I’m good with the ideas. The execution maybe needs a little work. I’d maybe like to do some TV commentary, but I’m pretty sarcastic, so we’ll see.
Jill McGill on tour
Denver-area native Jill McGill has more than $1.7 million in career winnings, despite not winning a tournament, and ranks 17th on the money list this season. How she got there:
1995 $48,959
1996 $82,537
1997 $30,075
1998 $21,635
1999 $238,734
2000 $156,059
2001 $340,991
2002 $202,375
2003 $117,039
2004 $238,181
2005 $281,303
Source: LPGA
